Settlement Funds Updated

The Government of Canada has again updated the settlement funds requirement for applications for skilled immigration to Canada on January 30, 2018. The increase is very nominal.

Number of Family MembersFunds Required
(in Canadian dollars)
1$12,475
2$15,531
3$19,093
4$23,181
5$26,292
6$29,652
7$33,014
For each additional family member$3,361

You must show that you have enough money to settle in Canada to meet the minimum requirements:

The Federal Skilled Worker Program or the Federal Skilled Trades Program. You can’t borrow this money from another person. You must be able to use this money to pay the costs of living for your family (even if they aren’t coming with you).If your spouse is coming with you, you can count the money you have together in a joint account. You may be able to count money in an account under their name only, but you must prove you have access to the money.If you are invited to apply, you must give written the proof that you have this money.You don’t need to show that you have enough money to support yourself and your family to meet the program requirements of the Canadian Experience Class (this includes provincial nominees who are part of the CEC stream).Note that you do not need proof of funds if you are currently: authorized to work in Canada and have a valid job offer.

Keep your funds up-to-date in your profile. The system may find that you are eligible for more than one program. You don’t always know ahead of time which program you will be invited under.How much money you will need

The amount of money you need to support your family is set to the size of your family. To calculate the size of your family you must including yourself:

  • your spouse or partner
  • your dependent children and
  • your spouse’s dependent children

This includes your spouse or dependent children who are permanent residents or Canadian citizens.You will need to show proof that you have enough money when you apply to immigrate. This table shows the minimum amount you need. If you have more money, you should list the full amount in your profile or application.The number of Family Members Funds Required.

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