Settlement funds and financial requirements
For skilled visas
You must have sufficient funds available to you to settle in Queensland. These settlement funds differ depending on whether you are onshore or offshore, and how many secondary applicants are included in your application.
You are required to have a mandatory cash component of settlement funds, which is inclusive of your total cash and liquid assets.
You must complete a Settlement Funds Declaration form affirming your financial capacity. The “mandatory cash component” specified on your form should match your supporting bank statements. Your supporting bank statements only need to show the current balance (no older than a month) and account holder details (for you or your partner). They do not need to include your whole transaction history.
The “other funds” component generally only includes assets that you hold overseas. This does not include furniture and clothing. You cannot include property in Australia, such as a house or car, in your settlement declaration.
Note: You will receive a copy of the Settlement Funds Declaration form, if invited by Migration Queensland to lodge an application.
If you are aged 25 years or under, or you are seeking nomination through the Postgraduates of a Queensland University stream, you can declare financial assistance from an eligible relative – if you cannot meet the settlement funds requirements in your own right.
An eligible relative constitutes a:
- parent or stepparent
- brother or sister (including stepbrother or sister)
- mother or father in-law
For business visas
You are also required to have specified settlement amounts, dependent on the visa subclass. Refer to business visa criteria pages for more information.