It is a requirement of your application that you have sufficient funds available to you in order to settle in Queensland. Settlement funds differ depending on whether the applicant is onshore or offshore, and how many secondary applicants are included in the application.
An applicant is required to have a mandatory cash component of settlement funds that is inclusive of the total cash and liquid assets.
All Applicants are required to complete a Settlement Funds Declaration Form affirming financial capacity. Your supporting bank statements only need to show the current balance (no older than a month) and account holder details (the applicant or partner), but does not need to include your whole transaction history.
Applicants that are 25 years of age or under, or applicants seeking nomination through the Queensland University Alumni stream can declare financial assistance where they cannot meet the settlement funds requirements in their own right from an eligible relative. An eligible relative constitutes:
- Parent or step-parent
- Brother/ sister (including step brother/sister)
- Mother/father in-law
Please note: you will receive a copy of the settlement declaration form after you have been sent an invitation from BSMQ to lodge an application with us.