Many families consider the Subclass 870 Sponsored Parent visa as a pathway to temporarily reunite with parents. But a common question is: how much money do applicants need to demonstrate to satisfy the “access to sufficient funds” requirement?
Understanding the Regulations
The Migration Regulations require applicants to have access to sufficient funds to support themselves in Australia, but they do not specify a dollar amount. The Department assesses each case based on the totality of evidence provided, including the sponsor’s circumstances and the applicant’s available resources.
Insights from VisaTasker’s Experience
In practice, we have seen a wide range of financial evidence accepted. For example:
- One successful application included property documents, fixed deposits of around $4,000, and a savings account with another $2,000 overseas, supported by an accountant’s asset statement.
- In another case, the sponsor held $5,000 in a transaction account and the parent provided no personal financial evidence. The visa was granted without questions.
Key Factors for Assessment
When assessing financial capacity, the Department looks beyond bank balances. Key considerations include:
- The sponsor’s income and overall financial position.
- The applicant’s access to resources such as property, savings, fixed deposits, or other investments.
- Proof of adequate health insurance, which must be maintained throughout the stay.
Practical Documentation Tips
To give the Department confidence in your ability to support your stay, provide genuine documentation, such as:
- Recent bank statements showing savings and transaction accounts.
- Evidence of property ownership or valuations.
- Fixed deposit certificates or term deposit statements.
- An accountant’s statement summarising assets and liabilities if available.
Conclusion
There is no one-size-fits-all amount for the Subclass 870 Sponsored Parent visa. The Department takes a holistic view of each applicant’s and sponsor’s finances. Focus on demonstrating that you and your sponsor can meet living expenses in Australia without undue hardship.
If you’re planning to sponsor your parent under the Subclass 870 visa, our team at VisaTasker can review your circumstances and help you prepare the right documents.
Disclaimer: This information is general and may not reflect your specific situation. Always check the latest Departmental policy or speak with a registered migration agent for personalised advice.
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Reviewed by VisaTasker Migration Services
MARA Registered Migration Agent · MARN 2318017
This article is written and reviewed by VisaTasker Migration Services, a MARA-registered migration agency based in Australia. As registered agents, we are bound by the Migration Agents Code of Conduct and required to provide accurate, up-to-date advice based on Australian migration legislation. Information is reviewed against the latest Department of Home Affairs policy.
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