Immigration is a lengthy process. In order to get a Canada PR visa, you must also show that you have sufficient funds to settle and live in Canada.
You need these funds to pay the cost of living for you and your family in the transition period before you get a job. If your spouse is accompanying you, then you can determine the sum of money in your joint account. Also, you will need to prove you have access to your liquid money whenever needed.
If you have received an invitation to apply, then you must provide a written proof that you have this money.
Also note, you need to provide this proof of funds if you are currently authorized to work in Canada and have a valid job offer.
Always keep your funds up-to-date in your profile.
How much money will you need?
The amount which you need to support yourself and your family is set on the basis of the size of your family. Your family includes:
The table below shows the amount you would need. But if you have more money then you must show the full amount in your Express Entry Profile.
No. of Family Members | Funds Needed (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 member | $3,361 |
What does the Canadian Government accept as a proof of Funds?
Your funds must be easily available for you. You must be able to prove to the immigration officer that you could legally access them to use to settle when you arrive in Canada.
Proofs that are required by the Canadian Immigration officer. You must get official letters from your Banks or financial institutions who are handling your money. The letters should:
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