Settlement funds and financial requirements
For skilled visas
You must have sufficient funds available to settle successfully in Queensland. The required amount of settlement funds differs according to how many dependents are included in your application.
Mandatory requirements
You are required to have a minimum amount of settlement funds, which must be shown as cash in a bank or term deposit. The table outlines the required amounts.
| Minimum Settlement Funds Required | |
|---|---|
Primary applicant | AUD$15,000 |
Primary applicant +1 dependant | AUD$20,000 |
Primary applicant +2 dependants | AUD$25,000 |
Primary applicant +3 dependants | AUD$30,000 |
Primary applicant +4 dependants | AUD$35,000 |
Primary applicant +5 or more dependants | AUD$40,000 |
*Australian Dollars (AUD)
Settlement funds
If you are an offshore applicant, you are required to:
- advise the value of your Settlement Funds on the Skilled Application Form
- confirm your financial capacity
- provide bank statements showing evidence of the declared funds.
Notes:
- Use www.oanda.com or www.xe.com to convert foreign currencies to Australian Dollars.
- Evidence of declared funds must be uploaded to the document portal.
- English translations of bank statements are required.
- Bank statements must show the name of the account holder.
- Bank statements can be provided in your partner/spouse’s name if they are included on your application.
- Screenshots of bank balances are not accepted.
- Non-cash assets are not accepted (e.g. property, vehicles, jewellery and pension funds).
Business visas
You are also required to have specified settlement amounts, which vary depending on the visa subclass. Refer to business visa criteria pages for more information.