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Guest oidara

State sponsorship query

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    Guest oidara

    Hi folks,

     

    We're trying to get our state sponsorship application ready, and we're confused by this:

     

    11.1 Applicants must ensure that they have sufficient funds for settling and living when they arrive in South Australia. Applicants should not dispose of any assets before the visa is granted and these funds must be available upon arrival in South Australia. Evidence of financial capacity is not required. However, Immigration SA reserves the right to seek additional information or evidence at a later stage if necessary.

     

    In the assets section of the application, we've put the amount we expect to walk away with after the sale of our house. But obviously we will be disposing of this asset before the visa is granted (to make the funds available upon arrival in SA!).

     

    What did you do about this section of the application? Is it not appropriate to include your house as an asset? If you do include it, presumably it's not really an issue if you sell it prior to your visa being granted??

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    Guest Adelaide_bound

    You put down what you think you will have when you enter Australia, if the visas all go through swimmingly and everything, however they mean you don't have to/shouldn't actually sell your house or anything before your visa is granted.

     

    IE - if you are selling your house before you go, you would put down the money from that (ie the profit from the sale), plus any other savings/money you have, and then the value of any other assets you might have (eg if you have a Rembrandt that you aren't planning on selling, but taking with you to Australia, put down the $5 mil down for that as well :biggrin: ).

     

    Although seeing as they don't check at any point, and you only need to put down the amount as per the list, it doesn't matter hugely if you put down $50K or $500K imho (our SS sailed through and we only put down a slightly positive estimate at $40K or something - in reality we will probably only have around $35K ).

     

     

    Seriously, don't stress about it.

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    Guest Chris_J

    You will have a Visa before arrival so you will have sold the house, and it does say "should" not must. It's probably their way of saying don't get rid of anything, because the Visa isn't guaranteed until it's granted. That's my view on it anyway.

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    Guest Chris_J

    We've only put the amount we think we will get from the house sale and my redundancy, and then reduced it by about $10k. I didn't include the sale of cars or other bits and pieces, and nor the value of the assets we will be taking if the goods count as assets :)

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