Funds requirement for 189

[Meltingpot_Pete]

Hi,

I wanted to to know if there is a minimum funds requirement/current bank statements once the ITA is received. I haven't been able to find this information anywhere on their website. I find it hard to believe that a PR would be provided without proving one has xx amount of money.

Thoughts anyone?

Thanks

[CeltInCaulfield]

Not something we were ever asked for.  There may be questions from COs for some jurisdictions (thinking higher risk countries, potentially); never seen anything written down saying it's a requirement, though.

Happy - as always - to be proven wrong.

[Meltingpot_Pete]

That's good to know. Cheers CeltinCaulfield

[Meltingpot_Pete]

May I ask what was your score and how long did it take to receive an invitation?

[CeltInCaulfield]

90 points.  Got an invitation in the next round, and took 11 days from applying to receiving my 189.

That was December 2015, though!

[Meltingpot_Pete]

wow and wow!

Wish things were the same in 2018.  About the assessment, I've just sent CPA my papers and they do have the provision to do the education and skills assessment in one go.

Thanks for that information. How do you find Aus? Are you glad you moved?

[CeltInCaulfield]

Adore it, mate.  Wouldn't move back to Blighty for all the coffee in Colombia.

It's lovely being able to grow capsicum, chillies, tomatoes, and citrus without glass cover (and I'm in Melbourne!)

[CeltInCaulfield]

And have to confess, I prefer Aussie cider to the west country stuff...

[Toots]

6 hours ago, CeltInCaulfield said:

Adore it, mate.  Wouldn't move back to Blighty for all the coffee in Colombia.

It's lovely being able to grow capsicum, chillies, tomatoes, and citrus without glass cover (and I'm in Melbourne!)

My lemon tree is loaded with lemons and I'm in Tasmania.  A local orchard close to us also produces some very nice cider - apple and pear.

 

 

[CeltInCaulfield]

I'm over in Tassie in a couple of months, I'll scout it out!

[Skani]

1 hour ago, CeltInCaulfield said:

I'm over in Tassie in a couple of months, I'll scout it out!

There's a complete cider trail for you to discover.  

http://www.tascidertrail.com/

If you're here in mid July there's  the Huon Valley mid winter festival at Willie Smith's Cider place at Grove:

https://www.williesmiths.com.au/willie-smiths-mid-winter-festival/

[ABG]

We were never asked to provide evidence of funds. We’re moving in a few months and are intending on taking around $50k to get set up (family of 4).

[Meltingpot_Pete]

That's reassuring. I'm still very much in the initial stages but the financial planning needs to begin a lot before that I guess unless one chooses to activate their visa a lot later. 

I've been told to budget AUD 3k for a couple for Sydney. Any idea if that is about right? 

[Meltingpot_Pete]

On 4/19/2018 at 00:29, CeltInCaulfield said:

Adore it, mate.  Wouldn't move back to Blighty for all the coffee in Colombia.

It's lovely being able to grow capsicum, chillies, tomatoes, and citrus without glass cover (and I'm in Melbourne!)

It's interesting that you say that. I know Melbourne is very multicultural and ideally, I would like to live in a more diverse environment but isn't the weather in Melbourne a lot like Blighty?

 

 

Edited April 20, 2018 by Meltingpot_Pete

[CeltInCaulfield]

It's changeable.  It's a damn sight warmer, though.

[Marisawright]

1 minute ago, Meltingpot_Pete said:

That's reassuring. I'm still very much in the initial stages but the financial planning needs to begin a lot before that I guess unless one chooses to activate their visa a lot later. 

I've been told to budget AUD 3k for a couple for Sydney. Any idea if that is about right? 

I think you mean $30K?

You'll need:

• Air fares
• AirBnb for 4 weeks while you look for a place to rent. In Sydney, that alone will cost you more than $3,000.
• When you find a rental place, you'll have to pay a rental bond equivalent to 4 weeks' rent, (plus the first month's rent).   Check out rentals on domain.com.au and realestate.com.au
• Rentals are not furnished in Sydney, so you'll need to buy furniture, pots, pans, crockery, bedlinen, the lot - unless you decide to ship your own stuff, in which case you have the cost of shipping. Most people do a bit of both.
• Money to buy a car.  Australians don't commonly lease cars like they do in the UK, and as a new migrant it's never a good idea to take on a lease until you're sure you're going to stay - because you can't sell the car with a lease on it if you want to leave early.

That's just the obvious stuff. Sometimes when you first arrive, it feels like you're bleeding money, there are so many little things that come up!

[Meltingpot_Pete]

6 minutes ago, Marisawright said:

I think you mean $30K?

You'll need:

• Air fares
• AirBnb for 4 weeks while you look for a place to rent. In Sydney, that alone will cost you more than $3,000.
• When you find a rental place, you'll have to pay a rental bond equivalent to 4 weeks' rent, (plus the first month's rent).   Check out rentals on domain.com.au and realestate.com.au
• Rentals are not furnished in Sydney, so you'll need to buy furniture, pots, pans, crockery, bedlinen, the lot - unless you decide to ship your own stuff, in which case you have the cost of shipping. Most people do a bit of both.
• Money to buy a car.  Australians don't commonly lease cars like they do in the UK, and as a new migrant it's never a good idea to take on a lease until you're sure you're going to stay - because you can't sell the car with a lease on it if you want to leave early.

That's just the obvious stuff. Sometimes when you first arrive, it feels like you're bleeding money, there are so many little things that come up!

Sorry, I should have been more specific. I meant AUD 3k a month, so $ 36k a year living expenses.

Like you've mentioned above, initial expenses will be a whole different ball game. About buying a car, I know it's a large country, but would one need it even if they were living in Sydney. Public transport? I'm based in London, so obvious question I guess

[Amber Snowball]

5 minutes ago, Meltingpot_Pete said:

Sorry, I should have been more specific. I meant AUD 3k a month, so $ 36k a year living expenses.

Like you've mentioned above, initial expenses will be a whole different ball game. About buying a car, I know it's a large country, but would one need it even if they were living in Sydney. Public transport? I'm based in London, so obvious question I guess

Depends on size of rent/mortgage but I’m in the farthest outer reaches of Melbourne, 3 adults and my living expenses are not less than $4000 per month. Don’t know Sydney but it’s not cheaper. 

We run 2 cars within that which you might not. No holidays included in that. I could cut back further but choose not to and don’t eat out, take my lunch to work so not extravagant either.

[Marisawright]

1 hour ago, Meltingpot_Pete said:

Sorry, I should have been more specific. I meant AUD 3k a month, so $ 36k a year living expenses.

Like you've mentioned above, initial expenses will be a whole different ball game. About buying a car, I know it's a large country, but would one need it even if they were living in Sydney. Public transport? I'm based in London, so obvious question I guess

It depends where you live in Sydney.  If you can afford to live in an inner city suburb, then yes you can do without a car.    If you need to live in the outer ring, then you'll be very restricted without a car.   Similar to London - if you live in Chelsea, who needs a car?  If you live in the outer ring, you need one, even if it's just to get to the station.  

In Sydney, all the train lines lead into the CBD (central business district), so if you need to get across town, you need a car.   To give you an example, we lived in Ashbury.  If we'd wanted to go to the nearest beach by public transport, we had to take a train into the city, then bus back out again, or a complicated combo of three different buses.   Allowing for unpredictable schedules, the trip could easily take two hours.  Whereas the beach was actually twenty minutes away by car on a quiet day.

You don't say what that $3k has to include.   If you're renting, and want to be close enough to the city not to need a car, then your rent will be at least $600 a week for a small flat.   If you want a nice place, budget $700-$800.   

Edited April 20, 2018 by Marisawright

[CeltInCaulfield]

$3k certainly won't get you within spitting distance of the CBD if you want space.

Where we are in Caulfield (still a good distance from the CBD, but within the inner suburbs and on the tramlines of Melbourne), our housing bills come to about $3500 just to cover the basics. That's a (decently sized) two bed apartment. Insurances are another $450 a month.  We don't run a car.  If we factor in $3500 a year ($290 a month, call it) for our Myki passes, and then $700 a month for food, $60 for our phones, and $50 for our net connection, all in it's about $5050 a month.

It isn't going to be cheaper in Sydney, not unless you're commuting a hell of a distance.

[Marisawright]

6 minutes ago, CeltInCaulfield said:

$3k certainly won't get you within spitting distance of the CBD if you want space.

Where we are in Caulfield (still a good distance from the CBD, but within the inner suburbs and on the tramlines of Melbourne), our housing bills come to about $3500 just to cover the basics. That's a (decently sized) two bed apartment. Insurances are another $450 a month.  We don't run a car.  If we factor in $3500 a year ($290 a month, call it) for our Myki passes, and then $700 a month for food, $60 for our phones, and $50 for our net connection, all in it's about $5050 a month.

It isn't going to be cheaper in Sydney, not unless you're commuting a hell of a distance.

Melbourne house prices, and rental prices, are about two-thirds of Sydney's.   

Also if you were living in the equivalent of Caulfield in Sydney, you would need a car.   

Edited April 20, 2018 by Marisawright

[CeltInCaulfield]

Bloody right, there.  Public transport in Sydney - whilst likely to improve slightly with the tiny tram network they're installing - is laughable.

Realistically, if you want to have a comfy lifestyle near the CBD and be able to just walk / use public transport in Sydney, I'd budget for closer to $7-8k per month.

Edited April 20, 2018 by CeltInCaulfield

[Meltingpot_Pete]

Thanks everyone. Some very informative comments there. I'm a little stressed now. Assuming a finance manager will earn around $130k-$150k in Sydney I won't even be left with $7-8k per month after taxes and superannuation. Perhaps this can be mitigated by living in the suburbs but seems like in pure financial terms, I'll be significantly worse off than in the UK.

Looks like the missus will have to start working again.

Edited April 21, 2018 by Meltingpot_Pete

[VERYSTORMY]

51 minutes ago, Meltingpot_Pete said:

Thanks everyone. Some very informative comments there. I'm a little stressed now. Assuming a finance manager will earn around $130k-$150k in Sydney I won't even be left with $7-8k per month after taxes and superannuation. Perhaps this can be mitigated by living in the suburbs but seems like in pure financial terms, I'll be significantly worse off than in the UK.

Looks like the missus will have to start working again.

Do not over estimate how much you might earn or ability get a job. Oz is awash with accountants up to financial manager level. Hence it is flagged for removal from the occupation list.

[Meltingpot_Pete]

35 minutes ago, VERYSTORMY said:

Do not over estimate how much you might earn or ability get a job. Oz is awash with accountants up to financial manager level. Hence it is flagged for removal from the occupation list.

I have budgeted for 6-7 months to find a job. Hopefully, that's a decent time to find something relevant. Looking at the number of accountants and finance managers from Aus and NZ here in the UK, I can only imagine the numbers there.