Settlement funds requirements for Canada immigration

Applicants who are seeking immigration to Canada under the skilled worker program must have sufficient funds to ensure smooth and easy settlement there. Some bars have been set by the Canada Immigration Department for the minimum funds that they must have, before landing in Canada. This money would be helpful to provide the required financial support to them and their dependants in Canada, especially until they get a suitable job there.

This amount of fund required varies according to the number of dependants accompanying the principal applicant. According to the current list, a single immigrant must have at least C$10,833, while a family of five must have a minimum of C$22,831, which keeps on increasing with the number of family members or dependents that the applicant has. This required funds amount is updated frequently and the applicants should check with their immigration specialist for the latest settlement funds requirement list.

The applicant must be able to provide a proof of the funds to Canadian Visa office, located in the home country of the applicant, while submitting their immigration application. Funds that can be included for evaluation as a part of settlement funds are savings bank accounts, and liquid investments, such as retirement funds and shares that are traded publicly. Basically any funds that are legitimately earned and are movable can form a part of the evidence that is submitted with the application.

Assets like vehicles and jewelry cannot be taken into account, until you sell them off and have their cash value in hand. However, it is essential that there should not be any debt on these assets. As supporting documents you can offer property evaluations, brokerage statements and bank statements. History of funds may also be requested in some cases. While the settlement funds requirement do not appear as a part of the point based system for

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skilled professional immigrants, but they are an integral and critical part of the immigration approval process. The immigrants must transfer these funds to Canada or take them along when they land as a permanent resident there.

Normally, the landing immigrant should inform the Immigration officer about the settlement funds that they are carrying with them and also funds that will follow them at a later date. This can include movable Funds consisting of savings in bank accounts, and liquid investments, such as retirement funds and shared that are traded publicly and that the immigrant has left behind in their originating country. Non-liquid assets like property may also be counted, if you will liquidate it after shifting to Canada. Giving such information on landing will mean that transfer of such funds at a later stage may not be taxed.

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57 comments

  • rawshan ara

    can i show my PF as proof of fund?i can transfer it any time when i resign from office

  • Joao Bundi

    Dear Sir’

    I am currently working as an economist in Angola, I have more than 10 years experience on oil campany. i am interested in applying Immigration to Canada. I have an American Bachelor degree in Economic from Indiana University, United States of America and Master degree in Business Administration from Nova Southeastern University, United States of America.

    Thanks and best regards;
    João Bundi
    Luanda, Angola

    • Immigration Experts

      Thanks for send your inquiry. We are providing immigration services only to those, who belongs to India. We can’t provide our services to you just because of company limitation. We apologise for that.

  • Ramesh

    Hi,
    Recently I have taken Loan amount of 9 L and deposited in other bank. Can I use this amount as Proof of Funds when going to canada (PR) ?

    • Immigration Experts

      Hello Ramesh,
      Thanks for the comment.Yes Ramesh you can use that money.Funds should be in the form of savings or FD.

  • kirubhakaran

    i am a masters holder also i have two years of work experience as Junior research fellow worked in aerospace engineering. do my experience is counted.

  • gagandeep

    Hello
    Please tell me can i show car insurance and savings of new pension scheme of India as proof of funds. Reply soon

  • Naveen

    Hello,

    I have 5yrs of exp. And am looking forward for a Federal Skilled Worker Visa.
    I have worked in 3 companies during my tenure.
    Would like to know do i need to provide payslips (Sal slips) for all companies i have worked for and for each month or i can provide for last 3 or 6 months of my current employer.

    Thank you,
    Naveen

  • bell

    I am in possession of a Canadian tourist visa, the question is how much should I hold along to show at the Canadian immigration upon arrival in Canada for a month stay in Canada?

  • Mandeep

    Hi,
    My only question here is how old FD in bank as proof of funds is required. Will one month old FD work? Please help

  • Yagnik Jetani

    hello,
    i want to know that
    1) amount above C$10000 is to be declared but is it per person or whole family amount?
    2) C$10000 means cash or all format as shown on website
    3) property in home country (like agriculture land, home etc..) can be considered as proof of fund while landing as immigrant?
    4) should i show plastic money (world travel card with authentic balance certificate) as a proof of fund?
    5) how much fund required for 2 adults and 1 infant?
    6) is it necessity to show fund even if u immigrate for short term like one or two month to fulfill the pr registration and get back to home country for pack up of home country business and will land after four to five months to Canada?

  • Nag

    I have below queries on funds requirement to Canada on FSW program.
    1. Can I show my PF for funds requirement.
    2. Can I show my wife’s PC for funds requirement.
    3. Do I need to count 4 years kid as an additional person and show the funds for the kid as well.
    Thank you.

    • sanam

      Hi,

      Yes, you can show PF and all other liquid assets which are in the name of self and spouse..also you need to show funds for the kid as well.

  • zia

    Hi, I have Bechlor electrical engineering degree from UK. I want to apply Fedral skilled visa for Canada. Can I know, for how long I need to show my banksatatment and after putting application canm i take out my money from account???

  • sanjay bharti

    I am filing immigration application for nova scotia,
    Can i show Insurance policies as a prrof of fund, which can withdraw any time.
    Please confirm me so that i can include insurance policies as proof of fund.

  • Afzaal Ahmad

    Dear Sir’

    I am currently working as General Accountant in Dubai, i am interested in applying Immigration to Canada, Pleas suggest me which designation have more value in immigration process. pleas suggest me 3-5 designations, so i can change my designation on my next renewal of visa.

    Thanks and best regards;
    Afzaal Ahmad
    Dubai, UAE.

  • Niraj Das

    Hello everyone,

    I am Niraj Das, i have completed my master of science in finance form Uk December 2012. During my master I got my 7 months part time work experience as a lead assistant in sales and marketing.

    Whereas, During my bachelors in finance and account( hons) I got the work experience of years and 7 months
    as a business development manager. since February i am working as a finance analyst (almost months)
    I would like to know would by work exp during my bachelors and masters would be considered while applying for work visa?? as i want to apply for work visa for canada?
    please help.

    Thanking you,
    NIraj Das

    • sanam

      Dear Niraj,

      Please note that “We are an Immigration Consultant and do not offer services for work permits/job placements for any country.”

  • Muhammad Zubair

    Dear All,

    I need to confirm bank statement duration by the time of application for FSWP.I have only 10 days maintained statement at the time of submition of application. Am I eligible for submission of my application???

  • J.J

    Hello, Applying for a FSW. I have a few questions.

    1. My understanding is that my pension finds will be considered as ‘Proof of Funds’. Is this correct? Would I just need to show what the amount is (my pension statement?).

    2. I have done my EILTS test and passed with an 8, therefore met the requirement. I also speak French although my writting is not as good. My understanding is that there is a TELaQ and a TEF epreuves Orales, would I still receive points if I complete this test instead of the general TEF exam?

    Thank you, J.J

  • ravi

    what is the procedure for getting permanent residence (PR) for canada

  • haritha

    Hi,

    We have recently received immigrant status under the provincial nominee(Alberta province)scheme. I have some questions regarding this…. please let us know the details.

    1. We would like to go to canada to record our landing and apply for our pr card(for a period of 45 days), do we still need to carry all the settlement funds along with us or would it be enough if we take sufficient for a 45 day stay?

    2. Where can we apply for the pr card and how long will it take to process the card?

    3.how long do u need to stay in canada to keep your pr status valid?

    Regards,
    Haritha

  • Rokan

    Hi there,
    Can i show my provident fund and gratuity fund statement provided by my office as a proof of fund ?

    thanks in advance

  • bernardita canlas

    my son and his girlfriend are leaving to Canada as commonly partner. May i ask how much money does the immigration officer will check? thanks.

  • syed ismail

    Hello,i am applying for a Canada PR Visa.my question is regarding proof of funds.i have deposited 5 lakhs 80 thousand i.e, equal to CAD 11,115 (for a single person….no family member is accompanying with me)in a bank and got a fixed deposit receipt.i am confused till what time period it must be deposited.for example 6 months ,1 year ? please answer if someone knows about what time period should i fix deposit this amount?

  • ai dumagem

    Dear Sir/ Ma’am,

    Do I have to have the required funds in my bank account throughout my application process or when the immigration visa process is in the final stages, that’s the time I need to show the funds. Further to the query, in order to verify the proof of funds, do the Immigration authorities call the bank where the funds are kept or only the bank statement or a letter from the bank is enough. In what circumstances the visa authorities can do a verification of funds by calling the bank directly or through a third party?

    Thank you very much. Your help will be highly apprecited.

    Best regards,
    Ai

  • shahid

    Dear Sir
    i have applied my immigration case please tell me how many dollars
    required to get in Canada

    I am waiting your precious answer

    thank you

  • kamran

    hi sir i need if any one help me about,family immigration sufficient settlement funds,how much we need and how much value property we worte?thanks sir

  • Ashok

    Hi Ajay,

    I am in the process of applying for Canadian Visa. My concerns are on 3 points.

    1. Application process: How is the documentation process for Canada immigration divided? Along with application, do I have to submit all my documents like the University Transcript, PCC, proof of funds etc right at the beginning or is the submission of document divided in 2 stages? Like submitting the initial application along with education, residential proof, family detail etc in the first stage & once the initial processing is done & the application goes into further immigration processing, then submitting the documents like PCC, Proof of funds etc in the second stage…?

    2. Proof of funds: Do I have to have the required funds in my bank account throughout my application process or when the immigration visa process is in the final stages, that’s the time I need to show the funds. Further to the query, in order to verify the proof of funds, do the Immigration authorities call the bank where the funds are kept or only the bank statement or a letter from the bank is enough. In what circumstances the visa authorities can do a verification of funds by calling the bank directly or through a third party?

    3. Document Verifications: What are the things / documents which the Immigration visa authorities do the verification directly or through a third party?

    I hope you can help me on the above queries.

    Thanx
    Ashok

  • rahi

    I AM PLANNING TO START MY IMMIGRATION PROCESS TO CANNADA.AT WHAT STAGE OF THE PROCESS WILL BE EXPECTED TO SHOW THE PROOF OF FUND.HOW MANY MONTHS BANK STATEMENT WILL BE REQUIRED.
    WILL I HAVE THIS AMOUNT FROM START OF PROCESSING MY APPLICATION OR WHEN I HAVE TO FLY FOR CANADA.

  • MAZHAR

    SIR, I WANT TO PROCESS FOR SKILLED WORKERS IMMIGRATION,HOW MUCH AMOUNT SHOULD BE IN MY BANK ACCOUNT BEFORE APPLYING FOR IMMIGRATION.DURING THIS PERIODS CAN I DEBIT AND CREDIT IN THE ACCOUNT.

  • EBERE

    I AM PLANNING TO START MY IMMIGRATION PROCESS TO CANNADA.AT WHAT STAGE OF THE PROCESS WILL BE EXPECTED TO SHOW THE PROOF OF FUND.HOW MAY MONTHS BANK STATEMENT WILL BE REQUIRED.

    THIS BECAUSE I HAVE AN ASSET TO DISPOSE TO MAKE UP THIS MONEY AND I WONT WANT TO DO IT UNTIL I AM SURE OF GETTING THE VISA.THIS BECAUSE WITH EVER DEVALUATION OF OUR LOCAL CURRENCY HAVING MONEY IN BANK IS COUNTER PRODUCTIVE EVEN I HAVE TO SELL MY SHARES TO BUY SELLABLE ASSETS

  • Frank

    Hi,
    Me and my family of our (Self, Wife and 2 small children) have
    receveid our Landing Papers & Visa to travel to canada.
    We plan to travle there and return back after 2 or 3 months.

    In this scenario who much funds should we actually acrry with us
    to show at the imigration while landing in Canada?

    also can we show our funds back in India to the immigration
    officer after landing in Canada and will this be aceeptable to them?

  • Vijay Kumar Dua

    We have been granted immigration on to Canada for a family of four valid for entry until 2nd November, 2010. It was processed by Abhinav Outsourcing only and many many thanks for the same. Planning a short trip to register landing – would be travelling by road from USA to Canada. Can you please guide us to go prepared to meet all therequirements. Also please guide if we are required to carry any funds also.

    Thanks,

    Vijay Kumar Dua

  • With current qualification, after 4 years of full time work experience. IF having a blood relation in Canada, then maybe with 2 years. Rest updated resume is required to offer advise. It can be mailed to ajay@abhinav.com

  • mina

    Dear Sir / Madam,

    I am just at the beginning of the immigration as a federal skilled worker process and I am filling in the application forms.
    I want to show evidence of selling a property, and deposit my money as a proof of funds.
    Could you kindly let me know that, regarding to the item: “Indicate the amount (in
    Canadian dollars) of unencumbered, transferable and available funds
    that you have.”, once I got the bank statement, proofing the minimum
    amount of money required (11086 Canadian $ for me as a single migrant), will I have access to my money in my account, being able to take it out from my account, and deposit it again in case of being asked to? Or is it a MUST to block the money in my account for a period of time?

    Thank you very much in advance,
    Mina

  • linda vaity

    Hi
    I would like to know ,my daughter just gave her exam from IHM Hyderabad ,and has started working last month ,when can she apply for PRin Canada.

  • Please send your and spousal resume to ajay@abhinav.com and we shall advise on all areas

  • hafiz muhammad asif

    Hi I with my wife and daughter want to get immigration.how much funds i must show for this purpose.

  • This amount of fund required varies according to the number of dependants accompanying the principal applicant. According to the current list, a single immigrant must have at least C$10,833, while a family of five must have a minimum of C$22,831, which keeps on increasing with the number of family members or dependents that the applicant has. This required funds amount is updated frequently and the applicants should check with their immigration specialist for the latest settlement funds requirement list.

  • channibhangu

    hi …
    me and my wife have applied for canadian immigration with point system .do we need to show funds , and how much we have to show as we are living in usa on F1 and F2 . can we lend some money from some one and use that or it has to be some month old money . please reply me . thank you very much
    channi

  • Please mail your resume and we shall guide

  • maninder

    we r five members in our family we wanna settle in canada is there any way we need proper guidence with surity guide me some help full addresses or links related tothis stuff thx

  • 1) You can show the funds in the home country/ in Canada/ jointly in both countries.
    2) You need to show funds at stage 2 after approval has been received from CIO, Nova Scotia

  • Mohammad

    Thanks for the info. I have a family of 3 people (my wife, son and myself). I have been studying in Canada for last 20 months. I have the settlement fund back home in liquid. Is it necessary to show the amount in Canadian banks? or Can I show the statements from banks of my country? Is it necessary to have the amount in the bank before applying?

  • No. Property is not accepted as part of the settlement funds evidence.

  • Muhammad Shabbir

    I have a properity can i show it a proof of funds for skill worker class for canada

  • stella

    you have given excellent details,I really like this site for its informative quality

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