How Much Money Do You Need To Immigrate To Canada?

It’s fine that you are making plans to immigrants to Canada. In a bid to immigrate to this country, there are a few things you should perhaps, try to figure out. One of these things is how much money do you need to Immigrate to Canada.

If you aim to move to Canada as a legal immigrant and not illegal immigrant, it’s necessary to have an idea of how much is required. For those thinking of moving illegally, this might not be a concern.

How Much Money Do You Need To Immigrate To Canada

Now to be clear, the funds requirements for Canada immigration can be divided into two parts;

  1. The funds required to create EE profile in the federal empress entry system or any other Canada permanent residency program and
  2. The funds requirement after when submitting Canada PR application. This is necessary after receiving the invitation to apply.

Having known this, let’s discuss the latest charges applicable for immigration to Canada.

Find below the table of latest charges applicable for Immigration to Canada:

  Charges applied for Amount in INR Amount in CAD$
  IELTS Test fees 12,700
  ECA from WES fees (including  courier charge) 21,000
  Canada PR Fees 28,000 550
  Right of PR Fee 25,000 490
  Medical Test 5,500
  PCC Fees 500

There is a breakdown and explanation for all the above applied charges for Canada PR. These are;

  • Funds required to create online profile
  • Funds requirement while submitting Canada PR Visa application
  • Fund required for obtaining medical and PCC
  • Funds needed to show as proof of funds along with the Visa application

Before immigrating to Canada, you are required to show the proof of funds in your bank account. This is required by the Canadian government. To be able to show proof, an applicant is required to get official letters from banks or financial institutions where he/she keeps money.

Latest Proof Of Funds Requirement From IRCC For Immigrating To Canada

  Number of Funds Required
  Family Members (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

Another reason why this is required, is to make sure that the applicant brings as much money as he/she needs it to find a home in Canada more convenient amongst other necessities.

The Canadian custom authorities also require the applicant to declare if he/she is bringing more than CAN$10,000 into Canada. Failure to disclose this amount, he/she may be fined and in some cases, funds could be seized.

The documents required includes:

  • Cash
  • Documents showing property or capital payable to you such as stocks, bonds, debentures, treasury bills.
  • Documents that guarantee payment of a set amount of money which are payable to you such as: banker’s drafts, Cheques, Travellers Cheques, Money orders.

After moving to Canada, being able to get a job can be a big deal. However, there are a few jobs in Canada that are in high demand. You could key in to that.

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