Australian Visa: Financial Requirement

If you plan on getting an Australian visa which has a long validity date, you may encounter financial requirement as one of the eligibility criteria. This is not uncommon for long-stay visas or even for visas that allow immigration to Australia.

Financial requirement shows that you are able to support yourself for a certain period of time. You may also find that there is a separate financial requirement if you plan to bring along your spouse and any dependent children.

The amount required varies depending on the purpose of your Australian visa, your length of stay and other activities that may require spending. For instance, for a working holiday visa, $5,000 is considered sufficient funds. Even with this amount, you still need to consider the extent of travels you intend to do.

Student visas, on the other hand, will require you to provide evidence that you have enough money to pay for travel, tuition and living expenses for you and your dependents. Specific requirements apply to fully funded students. If asked for evidence of finances, you may provide a certified copy of your bank statement.

Australian visas that are sponsored by either a relative, a company or a state or territory do not usually require financial statements. They may be asked to find an Assurer of Support in its place.

Other than support for yourself and your dependents, another financial requirement that you may be asked to provide evidence for is your means of departing Australia . If you have a temporary visa for Australia , you need to provide a copy of your return ticket or funds to purchase one.

As the financial requirement is dependent on the Australian visa you are applying for, it is best to consult a visa service to find out just what you need before lodging your application. Australia visa services have experienced agents that can provide you consult on such matters. Even if you are not asked to provide proof of finances for your visa application, a visa service agent can also help orient you on the cost of living in Australia.