Sufficient Settlement Funds – Federal Skilled Workers
Canada Immigration Services
Federal skilled worker applicants must demonstrate that they will have sufficient money to support themselves and their family once they immigrate to Canada. Applicants must have enough money to pay the costs of living for both themselves and their family even if the other family members are not moving to Canada. The settlement funds cannot be borrowed from another person and the money must be free of any liabilities.
Applicants must provide proof of sufficient settlement funds at the visa office of their home country when they apply to immigrate to Canada. The amount of money required to meet this requirement depends on the size of the applicant’s family and the amounts due can change every year.
The settlement funds required for applicants to immigrate to Canada are presented below:
|Number of Family Members||Funds Required|
|7 +||$31,291 CAD|
Federal Skilled Worker applicants are not required to provide proof of sufficient settlements funds if they have a valid offer of arranged employment in Canada AND they are currently working in Canada (or are authorized to work in Canada).
Please note that if you plan to physically bring more than $10,000 in cash (and other documents that are the equivalent of cash) with you to Canada, you must declare it to the Canadian customs officers when you arrive in Canada. Contact our Canada immigration services law firm if you have any questions.