It all depends on the type of visa a bankrupt applies for.
Information sourced as of April 2018
While all visa applications enquire into the applicant’s general character, bankruptcy does not affect visa eligibility as it is not a criminal offence. Therefore, in most cases, people applying for non business-related visas such as family visas or employer sponsored visas should be unaffected by the status of bankruptcy. The same applies to citizenship applications, which also assess applicants on good character, a criterion primarily related to criminal convictions.
Bankruptcy also does not limit someone from becoming a sponsor for a spousal or partner visa.
Bankruptcy becomes a factor when a person applies for entry to Australia via a business visa. In these cases, the Department of Home Affairs (formerly the Department of Immigration and Citizenship) looks at an applicant’s previous business experience in Australia, and will not consider this criterion satisfied if:
The above is qualified by decision makers taking the following into account:
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