Proof of Funds Requirements for Canada Immigration
Proof of funds is how you show us that you have enough money to settle in Canada. If you are invited to apply, you must give written proof that you have this money for your Express Entry Application under Federal Skilled Worker Program.
The amount of money you need to show depends on the size of your family. To calculate the size of your family you must include yourself, your spouse or partner, your dependent children, and your spouse’s dependent children. You must include your spouse or dependent children even if they’re permanent residents or Canadian citizens or not coming to Canada with you.
The below table shows the minimum amount you need to show to immigrate to Canada:
Proof of funds requirements as per family composition (w.e.f. June 9, 2022)
|Number of family members||Funds required in CAD|
|For each additional family member||3,586|
The Proof of funds must be readily available to you. For example, you can’t use the equity on real property as proof of settlement funds.
You also 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.
Want to know your Eligibility?
Contact Dream Harbour Global using the below form and we will get back to you: