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How much money do you need to immigrate to Canada?

Canada has emerged as the prime immigration destination in last few years. This is the reason that aspirants of overseas visa and immigration apply for Canadian Permanent Residency (PR). The IRCC (Immigration Refugees and Citizenship Canada) every year receive tens of thousands of Canadian permanent residency application from applicants all over the globe.

The people who aspire to get Canadian PR visa world over, often remain confused about the funds requirement for Canada, i.e. PR visa fee, proof of funds for Canada immigration, etc. The funds requirement for immigration to Canada can be divided into two parts.

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

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 (Over INR 11,300) for English proficiency
ECA Through WES fee (approx. CAD$200)

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 $550 (primary applicant)+ Right of PR fee- CAD $490
Spouse/common law partner or family member fee- CAD $550+ Right of PR free $490
Child (Under 22 years of age) – CAD $150

Feed required for obtaining Medical and PCC

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

Medical Exam
Police Clearance Certificate (PCC )

The expense for both the above documents may cost you around INR 5000-8000.

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.

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)

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

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. Alternatively, e-mail your queries to Visas Avenue e-mail id- info@visasavenue.com.