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Acceptable sources of income

Now that you have a better understanding of the minimum financial capacity requirements, the information below provides you with a detailed breakdown of how you can satisfy the evidence of financial capacity.

There are 2 options to demonstrate financial capacity:

Option 1

Bank statements*

  • We only accept bank statements from accredited institutions who are registered with the relevant Reserve/Central bank.
  • Cryptocurrency is not accepted as an income source.
  • A minimum of 6 months of bank statements is required.
  • The statements should be clearly legible and certified by the bank/branch manager.
  • Online statement from your digital account are not accepted.
  • Any large deposits/transfers need to be adequately explained. For example, a sale of property should be accompanied by the sale deeds/tax receipts from sale.

*Please refer to the relevant country page to view the list of acceptable banks and any country specific additional requirements.

Term/fixed deposits

  • In addition to the bank statement requirements, we also require evidence of source of funds if the deposit has been held for less than 6 months.
  • A copy of the deposit maturity details/renewal details where relevant.
  • You must be able to demonstrate access to the funds held in the deposit at visa application stage.

Education loans

  • We require the loan approval letter from a registered financial institution, which details the value, loan term, interest rates and repayment terms.
  • The loan must be disbursed to the applicant.
  • Personal loans from family/friends do not count as education loans and are not accepted.

Funds derived from sale of assets

  • Evidence of ownership of the asset is required. Assets can be land, property, businesses, etc.
  • Accompanying title and sale deeds which includes the details of the buyer and seller, value, etc.
  • Accompanying bank statement which shows evidence of sale and deposit of funds.
  • We do not accept cash-based sale of assets.

Option 2

Annual income

  • Evidence that your parent/s or partner had an annual minimum income of AUD$87,856 in the preceding 12 months before your application.
  • If your family members are accompanying you, the minimum income must be AUD$102,500.
  •  Combined income of both parents can be considered.
  • Only tax assessments or official government documents are accepted.
  • Bank statements or direct evidence from the employer is not accepted.

Remember, you need to provide proof of relationship where applicable, showing a clear link between your sponsor/s and yourself.

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