How much money do you need to move from Ireland to Australia?
One of the most pressing questions people as us is: How much money do I need to relocate to Australia? Well, here are answers to your key concerns covering rental costs, visa costs, and more…
1. Do you need to have money in your bank account to enter Australia?
To get an Australian visa there is no need to show proof of funds. However, when you enter Australia, customs may require proof of funds (a bank statement) at the airport when you arrive in Australia. They require $5000 (approx. €3000) in your bank account so you can support yourself initially. Many people don’t have that kind of money, so borrow from family or friends. They then pay it back when they’re settled and have a job in Australia.
2. What are the average costs of the most popular visa classes?
- 417 (Working Holiday Visa)
- €535 visa through NexVentur or;
- €610 for a very convenient package offering including visa, bank account, tax file number and SIM card.
- Applications for sponsored visas or converting to permanent residency can can cost anywhere between €200 and €2,000. However the company sponsoring you usually covers the cost of 482 or 186 visas.
3. Aside from visa costs, what are some other important expenses people should be setting aside money for?
- Travel insurance will vary on the options you take and covers a stipulated amount. A single destination insurance is around €78 a month for one year.
- You’ll also need to have money to cover your rental deposit (called a bond) which is usually four weeks’ rent plus the first week.
4. How much would a single person on a Working Holiday Visa or skilled visa need to get started in Australia?
The Australian government works on $5000 for the first few months of your stay. This is very ballpark as it depends on what your food costs would be, how much partying is on the cards and generally the kind of lifestyle you’re used to.
Hostel accommodation for the first month or two is the perfect launchpad for new arrivals and also a great way to make friends and potential housemates. You’re looking at €20 – €90 a night, depending on if you’re in a hostel or taking a private room.
Renting requires a month’s (bond) deposit plus the first week’s rent.
5. What are cheapest and most expensive places to rent in Australia?
The average apartment rental per week is:
- Adelaide – $443
- Melbourne – $504
- Darwin – $505
- Hobart – $505
- Perth $505
- Brisbane – $523
- Canberra – $585
- Sydney – $648
Find out more about renting in Australia here.
6. Is it worth moving to the regions for lower cost of living?
The cost of living is lower outside of the popular Australian cities. Depending on the industry and job titles, many companies offer what is called a regional uplift to incentivise people to work in regional areas. This can be 20-35% over the market salary. Accommodation, moving costs, meals and a number of other perks are also sometimes thrown in to entice quality employees.
7. What do you need to get set up for banking and tax?
You will need an Australian Tax File Number TFN and an Australian bank account. NexVentur offers this service and a package deal of visas, bank account, tax file number and an Australia sim card. You will need an address in Australia (they accept a hostel address) and proof of identity such as passport – bank account and TFN get activated once you land.
Book a consultation to find out more