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Proof of Funds

Besides the comprehensive grading-mark, another element which heavily influences the decision-making concerning your application is the required proof of funds. There is no financial support provided by the Government of Canada to new skilled worker immigrants.  So proof of your funds, which indicates that you have enough money to support not only yourself but also your dependants after you arrive in Canada, is a must when you apply for Skilled Worker Immigration. Such proof should be submitted in documentation along with your application.

The amount of money that you need to have to support your family is determined by the exact size and situation of your family. Below we have provided you with the official standard form to refer to:

Number of Family Members

Funds Required
(in Canadian dollars)

1

$10,168

2

$12,659

3

$15,563

4

$18,895

5

$21,431

6

$24,170

7 or more

$26,910

However, if you have found yourself an employer in Canada with a determined occupation, it would be unnecessary for you to show such proof. Therefore, though now you are not required to have an arranged employment in Canada as you apply for Skilled Worker Immigration, we advise that you’d better try to find one if you can. Sometimes, it would be easier to find local employment than to earn the required amount of money during a limited time.

A wise person will surely obtain a proper understanding of the local cost-of-living where you are going to settle down beforehand; and bring as much money as possible so as to make moving and searching for a home in Canada easier.

Commonly, the limited amount of funds you are allowed to carry should be less than CDN $10,000. If you have more than CDN $10,000 with you, you are expected to make a disclosure of the funds to a Canadian official when you arrive in Canada; otherwise, you may be fined or put in prison if you were caught for this reason. The Funds hereby are not limited to the form of cash, they could also be securities in bearer form like stocks, bonds, debentures, treasury bills, etc.; of negotiable instruments in bearer form such as bankers’ drafts, cheques, traveller’s cheques and money orders.