Here is a simple list of what to do when you get Permanent Residency : Apply for medicare – if you were not entitled to it before. Click here to access the medicare form. If you have health insurance change your package to suit your needs as medicare will cover a lot of what was previously covered by your health insurer. You can apply for a loan with a bank once you have permanent residency. You can apply for your citizenship once you have had permanent residency for a year, and have lived in Australia for over 4 years. Read more about citizenship.