What Are Financial Requirements for NSW Visa Subclass 190?

For state sponsorship by New South Wales (NSW) under the Visa Subclass 190 of Australian Permanent Residency (PR), there are no explicit financial requirements such as showing a certain amount of funds, unlike some other migration programs. However, certain key aspects must be met:

Key Requirements for NSW State Sponsorship (Subclass 190):

1. Points-Based System: You must meet the minimum points requirement (65 points) in the SkillSelect points test, though higher points may be needed to be competitive.

2. Occupation on NSW Skilled List: Your occupation must be on the NSW Skilled Occupation List. This list changes regularly based on the needs of the state.

3. Commitment to Live in NSW: You must show a genuine intention to live and work in New South Wales for at least 2 years.

4. Skills Assessment: A positive skills assessment from the relevant assessing authority for your nominated occupation is required.

5. English Language Proficiency: You need to demonstrate your proficiency in English through recognized tests such as IELTS, PTE, etc., typically achieving Competent English or higher.

6. Employment Requirements: Some occupations require evidence of work experience in NSW or a job offer in the state, though this varies by occupation.

Financial Considerations:

While there are no strict financial requirements, it is generally expected that applicants have enough funds to support themselves and their family upon arrival in Australia. Although not mandated by NSW for Subclass 190, it is recommended that you:

• Have sufficient savings for relocation and initial settlement costs, such as housing, food, and transport.

• Be financially prepared to live without immediate employment.

Application and Visa Fees:

• State Nomination Fee: NSW may charge a nomination fee, which varies (around AUD 300 to AUD 600).

• Visa Application Fee: The Australian Government’s fee for the Subclass 190 visa is approximately AUD 4,115 for the primary applicant, with additional fees for dependents.

In summary, while there are no explicit financial requirements for NSW state sponsorship under Subclass 190, being financially prepared for your move and settlement is crucial. You must also meet all other eligibility criteria for state nomination and the visa subclass itself.