How much money do you need to immigrate to Canada?

The applicants who wants to get permanent residency in Canada, often remain confused about the funds requirement for immigration to Canada, i.e. PR Visa fee, proof of funds for Canada immigration, etc.

The funds requirement for Canada Immigration can be divided into two parts.

1. Firstly, the funds required to create EE profile in the Federal Express Entry system or any other Canada Permanent Residency Program and
2. The funds requirement after when submitting Canada PR application (after receiving the Invitation to Apply).

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Canada PR Fee Applicable from April 30, 2020

*ECA (Educational Credential Assessment) fees is mentioned for WES only, however, the fee for assessment can vary if ECA is being done from any other assessing authority, i.e. IQAS, ICASC, CES, ICES.

Note: The amount given in the INR may vary depending on the value of Canadian dollar at a particular point.

Here is the breakdown and explanation of all the applied cost for Canada PR:

Funds required to create online profile

To create profile on express entry, etc. you need two main documents, i.e. IELTS test result and Educational Credential Assessment (ECA). To obtain both the documents, you need to pay applicable fees.

• IELTS Test fee(Approx. INR 13,250) for English proficiency
• ECA Through WES fee(Approx. CAD$230)

Funds requirement while submitting Canada PR visa application

To apply Canadian PR, you have to pay the PR fee for primary applicant, spouse as well as for dependent in the application. Here is the breakup of charges you require paying:

• The Canada PR visa fee for primary applicant at now is CAD $825 (primary applicant)+ Right of PR fee- CAD $500
• Spouse/common law partner or family member fee- CAD $825+ Right of PR free CAD $500
• Child (Under 22 years of age) – CAD $225

Charges for obtaining Medical and PCC

You need some crucial documents along with the visa application form, i.e.

• Medical Exam (Approx. 5,500)- Though it can vary place to place
• Police Clearance Certificate (PCC) – The expense this document may cost you around INR 1,000 or above depending upon the place you are applying from.

Funds needed to show as Proof of Funds along with the visa application

To immigrate to Canada, you as an applicant of Canadian PR, need to show acceptable proof of funds Canada in order to convince the immigration authorities that you can support the stay of you and your family members for initial period, until you get your first income in Canada. You need to show the proof of funds when applying Canada PR as a skilled immigrant through popular express entry system of Canada.

How to show proof of funds for Canada immigration

Well, to show proof of funds for Canada immigration, you need to show the adequate amount in your bank account, as desired by the Canadian government. For evidence or proof, an applicant must get official letters from banks or financial institutions where he/she is keeping money.

Proof of Funds Requirement from IRCC for Canada PR (Updated)

Find below the proof of funds requirement to apply in FSW and FST categories of Express Entry system:

The applicant must bring as much money as he/she can to make moving and finding a home in Canada conveniently. Canadian customs regulations need an applicant to declare if you’re bringing more than CAN$10,000 into Canada.

If an applicant doesn’t disclose the amount, he/she may be fined, and funds could be seized. It includes:

• cash
• documents that show 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).

Proof of funds Canada provincial nominee program also needed as per the respective Provincial Nominee Programs (PNPs) of Canada.

If you need further detail or clarification about the Canada PR settlement funds requirement, you may get in touch with certified Canada immigration expert by call on Toll Free Number- 78-18-000-777. Moreover, to get your eligibility checked and subsequently, receive a call from the expert, you may fill the free assessment form.