The Temporary Retirement Visa (subclass 405) offers individuals aged 45 and above the opportunity to reside in Australia for a maximum of four years. This visa is specifically designed to facilitate a fulfilling retirement experience in Australia, while also allowing individuals to immerse themselves in the country's diverse offerings.

The visa is initially granted for a period of up to four years, with the possibility of renewal for an additional four years. To be eligible for this visa, applicants must possess a minimum of AUD $500,000 in an Australian superannuation fund. Furthermore, they must demonstrate the financial means to sustain themselves throughout their stay in Australia.

Applicants are required to furnish evidence of their intention to remain in Australia, such as a valid return ticket or proof of onward travel arrangements. Additionally, a police check is mandatory for all applicants.

Moreover, applicants must satisfy health and character requirements, ensuring they possess adequate health insurance coverage for the duration of their stay in Australia.

The Temporary Retirement Visa presents an exceptional opportunity for individuals seeking to relish their retirement years in Australia. It not only grants them the chance to explore the country's vast landscapes and cultural treasures but also allows them to indulge in the unique lifestyle that Australia has to offer.