Open account in TymeBank in South Africa: Complete Guide
Open an account with South Africa’s first exclusively digital bank. We help you understand everything you need to know!
With the South African-born population the seventh-largest migrant community in the country,⁵ the number of South African nationals relocating to Australia for a better way of life has skyrocketed in the last decade - and grows higher year on year.
The country’s ever-stable economy, thriving job market and enviable work-life balance make Australia an enticing choice for South African professionals looking to start a new life abroad.
If you’re thinking about joining the other Aussiekaners (an affectionate term for South Africans living in the country) and moving to Oz for work, this article will explain all the things you need to know. For example, the different visas available, how to get an employer to sponsor you in Australia, and the process for bringing any loved ones over, too.
We’ll also quickly talk you through Wise, an international money transfer services provider that can help you save money when making international transactions back to South Africa.⁴
Whether you’re considering a temporary stay or more permanent residency, if you’re keen to work in Australia for any length of time - you’ll need a work visa to do so. The type of visa you apply for depends on how long you want to work in the country, and the skills you can bring over as a professional from overseas.
The most popular programme South African professionals can use to relocate to Australia for work is the Skilled Migration stream.⁶ This stream has six main visa components currently accepting applications:
This visa lets invited professionals with skills the country needs to work anywhere in Australia permanently.⁷ To be eligible for this visa you must have an occupation on the Skilled Occupation List and pass a suitable skills assessment for your chosen profession.⁸
South African entrepreneurs, business owners and investors can apply for this visa to own and manage a business in the country.⁹ We’ll explore this specific visa further later on in the article.
South African nationals with an internationally recognised record of exceptional achievement in the fields of business, sport, the arts, or academia and research can apply for a Global Talent Visa to move to Australia and work with permanent residency.¹⁰
This visa allows Australian employers to sponsor overseas professionals to move to Oz for 5 years to address labour shortages.¹¹ Employers first need to demonstrate this position can’t be filled by a skilled Australian worker before sponsoring someone from abroad.
A Skilled Work Regional Visa is for overseas professionals nominated by a particular state or territory government to live and work in a designated regional area of the country.¹² You can also apply for this visa if you’ve been sponsored by an eligible family member who has been recommended.
Similar to the Regional Visa, the State/Territory Nominated Visa relies on international workers to be nominated by an Australian state.¹³ After living in the sponsoring state for two years, holders can then reside and work in any part of Australia.
Australia works hard to attract a variety of skilled workers across different sectors. This has led to a thriving and diverse job market with a wealth of opportunities for professionals from overseas.
You can find job opportunities in Oz on the following online portals:
Below is a table with the average annual salary for several occupations in Australia:¹⁹
Occupation | Average Annual Salary (AU$) | Average Annual Salary (ZAR) |
---|---|---|
Accountant | AU$94,973 | 1,174,750 ZAR |
Branch Manager (Finance) | AU$125,000 | 1,546,163 ZAR |
Electrician | AU$93,863 | 1,160,992 ZAR |
Chemical Engineer | AU$130,000 | 1,607,954 ZAR |
Data Analyst | AU$108,366 | 1,340,365 ZAR |
Lawyer | AU$119,409 | 1,477,140 ZAR |
Copywriter | AU$90,000 | 1,113,338 ZAR |
If you’re a South African expat living in Australia, Wise may help you save money¹ when making international money transfers back to South Africa.
Although the majority of Australian banks will allow expats to make international transactions, they normally add a markup onto the mid-market exchange rate, meaning you end up paying more for your transfer.
The mid-market exchange rate is the rate that banks use to transfer money between them and is considered the fairest rate in the market. Find out what you would pay for an international money transfer with Wise:
Wise customers don’t have to pay an additional markup fee but only a transparent fee to make an international transaction¹. That’s because Wise uses the mid-market rate for overseas payments!
With Wise, South African expats may save money¹ when making international payments from Australia to South Africa.
If you want to come to Australia on a Skilled Migration Visa, you’ll first need to submit an Expression of Interest (EOI). You can submit this through SkillSelect.²⁰ After your EOI has been processed, you might be invited to apply for a visa from the Skilled Migration stream.
International workers have 60 days after being invited to apply to lodge an application and nominate a profession listed on the Australian Skilled Occupations List.⁸
It takes 11 months for a Skilled Migration Visa with permanent residency to be processed in Australia.²¹
“Can I work in Australia without specifically obtaining a work visa?” is a common question asked by many South African professionals looking to relocate to Oz for work. If you’d like to work in Australia for any length of time, you’ll need the appropriate work permit.
If you want to come to Australia and work on a more temporary basis, you might be eligible for a Working Holiday Visa. This visa allows you to travel and work in Australia for up to three years. For those who want to move to Oz for longer, the country’s Migration Program is the main pathway to permanent residence.
The cost of applying for an Australian work visa varies depending on the type of visa, and whether or not you’re including your partner or children in your application.
Visa Type | Cost (AU$) per person | Cost (ZAR) per person |
---|---|---|
Skilled Independent Visa | From AU$4,640 | From 57,446 ZAR |
Business Innovation and Investment Visa | From AU$9,450 | From 116,990 ZAR |
Employer-Sponsored Visa | From AU$4,640 | From 57,442 ZAR |
Global Talent Visa | From AU$4,710 | From 58,317 ZAR |
Regional Visa | From AU$4,640 | From 57,441 ZAR |
State/Territory nominated | From AU$4,640 | From 57,441 ZAR |
Many of the visas on the Skilled Migration stream use a points-based system to select skilled migrant professionals. A number of characteristics like education, work experience and language skills are used to rank or prioritise overseas applicants. Those who score the highest number of points are then invited to apply for a visa.
Australian employers can sponsor professionals from South Africa to move to Australia for work under the Employer-Sponsored stream.¹¹ Employers first have to show that they were unable to find an Australian citizen or permanent resident to fill the role. If you relocate to Australia on this visa, you are eligible to work only for the employer who sponsored you.
To be eligible for the Employer-Sponsored stream, an employer must nominate you to work in a profession on the relevant skilled occupation list. You must also have at least 3 years of relevant work experience in your nominated profession.¹¹
Below are some of the most common required documents for visas on the Skilled Migration stream. The specific documents you’ll need to submit with your application depend on the visa you’re applying for.
Australia is a top destination for international students, boasting 95% of its universities ranked globally and 6 of the world's top 50 student cities.²² Many students from overseas choose to work in Australia while studying to financially support themselves and connect with the local community.
International students can work up to 48 hours every two weeks in academic term time.²³ Students working part-time in Australia have the same protections at work as anyone else in employment in the country.
Students from overseas can work an unlimited number of hours in Australia when university classes aren’t running and during holiday periods.²³
Many international students want to stay in Australia to work after completing their higher studies. To do this, you’ll need to obtain a work permit to legally work in the country.
After your studies have come to an end, you’ll need to apply for a post-study work permit to continue living in the country and begin employment. The Australian government offers three different types of post-study permits that vary based on your qualifications:²⁴
Finding out if you can bring your partner and family over with you to work in Australia is an important part of the relocation process. If you’re applying for a visa with permanent residency in the country, you can sponsor your family to come to Australia, too.
Permanent residents in Australia can sponsor their dependents, for example, their partner and children, to join them in the country. You can include your family unit in your application when you first apply for your visa, or after you lodge your application before a decision has been made.
If you don’t include your partner when you first apply for a visa to work in Australia, you can apply for them to join you later on a Partner Visa.²⁵ The provisional partner visa allows your partner to stay temporarily in the country while their permanent partner visa is processed. You apply for both the temporary and permanent partner visas together.
While the Skilled Migration stream enables overseas professionals to move to Australia on several visas, there are limited visas for professionals who want to relocate to the country to work on a self-employed basis.
It’s important to note that both the Venture Capital Entrepreneur Visa and the Significant Business History Visa are currently closed to new applicants.²⁶
South African professionals who want to start and run a business in Australia can apply for a Business Innovation and Investment visa.⁹ There are four streams available in this visa, including:
You must meet different financial thresholds for investment in each individual stream, as well as demonstrate you have the necessary business skills to establish and maintain a new company in the country.
After you enter Australia, there are a few important processes you’ll need to complete to start your new life Down Under:
Pros | Cons |
---|---|
Australia is renowned for its exceptional work-life balance, flexible work options, and generous holiday allowances. | Even though there are various visa options for skilled professionals from overseas, many of them are hard to qualify for as they use a strict points-based system. |
The job market boasts a wealth of opportunities across various industries and has a strong emphasis on hiring talent from abroad. | Australia is very far away from South Africa, making it expensive to visit family back home or return to South Africa in case of an emergency. There is also a 9-hour time difference between the two countries. |
The number of South Africans relocating to Australia is growing year on year, including those who want to move to Oz to take advantage of a thriving job market and enviable work-life balance that puts other countries around the world to shame!
If you’re debating whether to join the many other Aussiekaners living and working Down Under, make sure to look at which work permits you’re eligible for, and how you would score on the competitive points-based system to enter the country.
In terms of money management, Wise is a great international money transfer services provider for overseas payments if you’re debating sending some of your salary back to South Africa.⁴
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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