How much money do I need in my bank account to apply for an Australian visa?

Financial Requirements for Australian Visa Applications

When applying for an Australian visa, demonstrating financial security is crucial. The amount of money required in your bank account varies depending on the type of visa you are applying for and the duration of your stay.

General Guideline

As a general guideline, it is advisable to maintain a bank balance of over AUD 5,000, especially for short-term visits. This amount indicates your ability to support yourself during your time in Australia without relying on employment or government assistance.

Specific Visa Requirements

Some visa types have specific financial requirements that exceed the general guideline. For example:

• Subclass 600 (Tourist Visa): Applicants may need to demonstrate access to funds of at least AUD 1,500 for the first month of their stay.
• Subclass 482 (Skilled Temporary Work Visa): Applicants must have access to funds of at least AUD 5,000 before arriving in Australia.
• Subclass 500 (Student Visa): Applicants must demonstrate access to funds sufficient to cover tuition fees, living expenses, and travel expenses for the duration of their studies.

Supporting Evidence

When applying for a visa, you will need to provide evidence of your financial status. This may include bank statements, income statements, and evidence of any assets you own. The visa officer will review this evidence to determine whether you meet the financial requirements for the visa.

Conclusion

Demonstrating financial security is essential for successful Australian visa applications. By maintaining a sufficient bank balance and providing supporting evidence, you can increase your chances of obtaining the visa you need. It is recommended to check the specific requirements for the visa you are applying for and consult with an immigration lawyer if necessary.