How much savings should you have before immigrating...?

Go Back   Living and Working in Australia Forum With Immigration and Travel Information > Living in Australia > Visas and immigration

Visas and immigration The Australia Forum for visas, immigration and migration to Australia. Please use this section to discuss all your immigration and moving to Australia needs. Discuss visa types, time lines, submission dates, police checks and read our members' immigration success stories here.

How much savings should you have before immigrating...?


Closed Thread
 
LinkBack Thread Tools
  #1 (permalink)  
Old 02-01-2012, 05:12 PM
Active Member
 
Join Date: Jan 2012
Posts: 29
Users Flag! From canada

6 likes received
How much savings should you have before immigrating...?

Hey all,

Just have two quick questions regarding savings and immigration to Australia:

1. Is there standard that advises on how much one should have saved up before immigrating to Australia?
a. If yes, is there a website/documentation to reference this?
2. If there is a standard, is it a legal requirement or a "preferred" requirement to ensure you are financially covered once relocation occurrs?


  #2 (permalink)  
Old 02-01-2012, 07:08 PM
Active Member
 
Join Date: Nov 2011
Posts: 43
Users Flag! From canada

7 likes received
10 likes given
Quote:
Originally Posted by moah View Post
Hey all,

Just have two quick questions regarding savings and immigration to Australia:

1. Is there standard that advises on how much one should have saved up before immigrating to Australia?
a. If yes, is there a website/documentation to reference this?
2. If there is a standard, is it a legal requirement or a "preferred" requirement to ensure you are financially covered once relocation occurrs?
When I went there in 2010 on a WHV, I know for a fact that I read somewhere on the Aussie Immigration website that minimum of $5,000.00 AUS is advised and I've gone by that trying to save up for when I leave this time around. I just tried looking for it on their website but now I'm thinking it's maybe on one of the forms I've filled out previously. That amount, I believe, is good because if (on the off chance) that custom agents ask for your banking summary, they'd want to see that you have enough funds to support yourself and to be able to afford a flight home. Terrible!! I know, but I think it's understandable if they're just trying to look out for people to make sure they aren't bludging off the system.


  #3 (permalink)  
Old 02-01-2012, 07:18 PM
Moderator
 
Join Date: Mar 2009
Location: Greatest country of them all
Posts: 833
Users Flag! From australia

118 likes received
3 likes given
Quote:
Originally Posted by moah
Hey all,

Just have two quick questions regarding savings and immigration to Australia:

1. Is there standard that advises on how much one should have saved up before immigrating to Australia?
a. If yes, is there a website/documentation to reference this?
2. If there is a standard, is it a legal requirement or a "preferred" requirement to ensure you are financially covered once relocation occurrs?
1. Yes a minimum of $5000 per adult and $2500 per child.
a. I think it is mentioned on one of the visa/migration forms. Don't remember exactly where.

2. It's a "preference", so they will not jail you for not having it. However I've seen on Border Security couple of people questioned when not having the minimum and held up until they could provide assurance of support/funds equivalent to $5000. Simply, if you are not stopped its fine. If you are stopped you'll spend a lot of extra hours in the immigration.

In any case it wouldn't be smart to come without the minimum funds. These are designed to make you able to survive the first couple of months before you find a job. You can't claim social security and it is illegal to be a "hobo". And without these funds you'll have hard time surviving initially.

__________________
People should not be afraid of their governments. Governments should be afraid of their people.

We are told to remember the idea, not the man. Because a man can fail. He can be killed and forgotten. But four hundred years later an idea can still change the world.

Closed Thread

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Taxes on savings - for Australia immigrants iain Visas and immigration 3 08-04-2011 02:21 PM
Cash or savings component win25 Visas and immigration 6 03-15-2011 09:35 AM
How much savings do we need b4 move? okso General chit-chat and news 2 02-09-2011 06:01 PM
Immigrating to Aus from SA sponneckmate New member introductions 3 02-25-2010 09:02 AM

LEGAL NOTICE
By using this Website, you agree to abide by our Terms and Conditions (the "Terms"). This notice does not replace our Terms, which you must read in full as they contain important information. You must not post any defamatory, unlawful or undesirable content, or any content copied from a third party, on the Website. You must not copy material from the Website except in accordance with the Terms. This Website gives users an opportunity to share information only and is not intended to contain any advice which you should rely upon. It does not replace the need to take professional or other advice. We have no liability to you or any other person in respect of any content on this Website.


All times are GMT. The time now is 01:44 PM.




Powered by vBulletin®
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
SEO by vBSEO
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2020 DragonByte Technologies Ltd.
AustraliaForum.com