How much bank balance is required for a Subclass 491 visa?

How much bank balance is required for a Subclass 491 visa?

There is no specific bank balance requirement to apply for a Subclass 491 visa. Instead, an applicant must demonstrate sufficient funds to support themselves and their family, including travel and living expenses, and shows that they are not a burden on Australian taxpayers. Australian Department doesn’t specify any fixed proof of funds for a Subclass 491 visa. Instead, demonstrating sufficient funds to cover your expenses in and outside the country is more of a specific requirement for the visa. An applicant can provide proof of adequate funds via:

• Bank Statement
• Pay slips of employment
• Audited accounts or tax records

A subclass 491 visa is a provisional visa for skilled workers to stay in Australia for five years in a designated regional area. Skilled workers can apply for Permanent residencies in Australia after residing for three continuous years in the country from the time the visa is granted.
 

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Eligibility Criteria to apply for Subclass 491 visa

To apply for a Subclass 491 visa, an applicant must fulfill the eligibility to apply for Subclass 491 visa:

• Aged under 45 years
• Valid skills assessment in a relevant occupation
• Meet the point test requirement (at least 65 points)
• Competent English Language proficiency
• Be invited and nominated by the state or territory government
• Satisfy the health and character requirement
• Clear debts to the Australian government (if any)
• State or territory nomination/sponsorship

Requirements to apply for Subclass 491 visa

To apply for the Australia Skilled Work regional visa, an applicant must fulfill the requirements:

• Valid passport
• Proof of relationship
• Skill assessment documents
• Language proficiency in English
• Sponsorship documentation
• Proof of age
• Positive skill assessment
• Score 65 points

Processing fees of Subclass 491 visa

The Skilled Work Regional Provisional visa has a based application fee of AUD 4,770 for the primary application, with additional fees for each family member included in the application. Below are the detailed breakdowns of the fees:

• Primary Applicant: AUD 4,770
• Additional Adult Applicant (18 years and above): AUD 2,385
• Dependent Child (under 18 years): AUD 1,190
• Second Instalment Charge (for some family members above 18 with less than functional English): AUD 4,890

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