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Discussion Starter #1
Hi, just wondering what is the minimum financial status we need to land in Aus with PR visa... like Bank balance,immovable properties worth...

Sorry I'm missing the exact term for this requirement. :evil:
 

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How much do you have in assets right now ? What are your commitments in India and America ? If you can list all your details along with your spending habits I can help you in formulating and arriving on a desired figure. Obviously I will also need to know your profile and how soon do you foresee yourself being employed ?

As such, you can arrive penniless, nay, even with a negative balance sheet. It shouldn't matter.
 

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Discussion Starter #3
How much do you have in assets right now ? What are your commitments in India and America ? If you can list all your details along with your spending habits I can help you in formulating and arriving on a desired figure. Obviously I will also need to know your profile and how soon do you foresee yourself being employed ?

As such, you can arrive penniless, nay, even with a negative balance sheet. It shouldn't matter.
Below are my property details:
1) A 2 bhk individual house in a 600 Sq.Ft land in the outskirts of Chennai in my dad's name, whichinturn my asset
2) A 3 bhk flat near OMR, Chennai on my name
3) A 14 cents land in the outskirts of Chennai in my dad's name, whichinturn my asset
4) A bank balance of 10,000 USD approx.

Question:
An asset in my father's name be considered as my asset or do I need to transfer those to my name?

I'm a Test Lead with 8+ yrs of experience, at present working in the USA!
 

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Below are my property details:
1) A 2 bhk individual house in a 600 Sq.Ft land in the outskirts of Chennai in my dad's name, whichinturn my asset
2) A 3 bhk flat near OMR, Chennai on my name
3) A 14 cents land in the outskirts of Chennai in my dad's name, whichinturn my asset
4) A bank balance of 10,000 USD approx.

Question:
An asset in my father's name be considered as my asset or do I need to transfer those to my name?

I'm a Test Lead with 8+ yrs of experience, at present working in the USA!
According to the law you can't claim the assets currently registered against your father's name as yours. You can claim all immovable properties which are registered against your name + gold + liquid cash + bonds + any other investments.

Apart from these you require luck, self - confidence and I hope you have it.

Good Luck

:)
 

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Discussion Starter #5
According to the law you can't claim the assets currently registered against your father's name as yours. You can claim all immovable properties which are registered against your name + gold + liquid cash + bonds + any other investments.

Apart from these you require luck, self - confidence and I hope you have it.

Good Luck

:)
Thanks dude! Actually my question was, how much net worth of money and property do we need to possess to land in Aus with PR?
 

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Thanks dude! Actually my question was, how much net worth of money and property do we need to possess to land in Aus with PR?
if you have a 189, then there's no financial requirement (if i understand your question)

if you have a 190, it depends on the state
 

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Hi Arunvas,

DIAC/Visa requirements
There is no requirement from DIAC to have a minimum amount of money/assets. Some states require you to have a certain amount of money to qualify for a 190 sponsorship. If you already have PR and want to sponsor family members for visitor visas, you may be required to post a bond, usually in the range of 5,000AUD to 15,000AUD per person.

Budget for surviving the first couple of months (without a job)
As a new migrant on PR you face a 2-year wait for most social security payments via Centrelink (except as a humanitarian entrant). The Australian government expects you to keep yourself afloat during the first two years based on your skills. Cost of living expenses vary a lot, depending on where you move to and the standard of living you are accustomed to. Check the Cost of Living sticky thread.

We (= a couple) transferred 25,000AUD to our Australian bank account to cover our initial expenses and took letters from our overseas bank listing our additional assets. Flats, houses and land overseas won't help as much as liquid assets. I'd recommend to bring about 10,000AUD to 15,000AUD (cash, immediately accessible) for a single person. You probably won't need it all, but if the job hunt takes you longer than expected, a safety net will be very welcome. If you don't have a job yet, landlords will be reluctant to rent a property to you as well. You should have at least enough money to pay the bond (= 1 month's rent) plus three months of rent in advance. In practice, you likely won't need to pay three months in advance, but it helps a lot to be able to offer that to put a landlord at ease. Check the rental prices for your target area and calculate how much you'll need.

Cheers,
Monika
 

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Discussion Starter #8
if you have a 189, then there's no financial requirement (if i understand your question)

if you have a 190, it depends on the state
oh there is no need to show our financial status for 189? btw, I see you have got your visa granted today 10/03, congrats dude :)
 

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Discussion Starter #9
Hi Arunvas,

DIAC/Visa requirements
There is no requirement from DIAC to have a minimum amount of money/assets. Some states require you to have a certain amount of money to qualify for a 190 sponsorship. If you already have PR and want to sponsor family members for visitor visas, you may be required to post a bond, usually in the range of 5,000AUD to 15,000AUD per person.

Budget for surviving the first couple of months (without a job)
As a new migrant on PR you face a 2-year wait for most social security payments via Centrelink (except as a humanitarian entrant). The Australian government expects you to keep yourself afloat during the first two years based on your skills. Cost of living expenses vary a lot, depending on where you move to and the standard of living you are accustomed to. Check the Cost of Living sticky thread.

We (= a couple) transferred 25,000AUD to our Australian bank account to cover our initial expenses and took letters from our overseas bank listing our additional assets. Flats, houses and land overseas won't help as much as liquid assets. I'd recommend to bring about 10,000AUD to 15,000AUD (cash, immediately accessible) for a single person. You probably won't need it all, but if the job hunt takes you longer than expected, a safety net will be very welcome. If you don't have a job yet, landlords will be reluctant to rent a property to you as well. You should have at least enough money to pay the bond (= 1 month's rent) plus three months of rent in advance. In practice, you likely won't need to pay three months in advance, but it helps a lot to be able to offer that to put a landlord at ease. Check the rental prices for your target area and calculate how much you'll need.

Cheers,
Monika
Thanks Monika! I see visitors visa for the family members to visit family from other countries to be very limited interms of validity and number of entries to country... is there not any easy way or type of visas to visit family for few months to 1 year?
 

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Thanks dude! Actually my question was, how much net worth of money and property do we need to possess to land in Aus with PR?
hey man,

It depends if you are arriving alone or with a family.

i think 2.5k a month for a young couple with no kids would be an average
(1800 a month for rental of a whole house with the remainder for other basic necessities), and you might need to have about 3 to 6 month worth on the safe side, as it seems that is the time for a new migrant to secure a job.
 
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