Canadian government has updated the settlement funds requirement in the Federal Express Entry System in the New Year 2019. Express Entry is the premier immigration system of Canada that allocate permanent residency to the selected candidates. However, as part of the process, the registered applicants in EE system need to show the sufficient Proof of Settlement funds in their account.
Proof of Settlement funds requirement Raised by Canada
The IRCC (Immigration Refugees and Citizenship Canada) has slightly raised the Proof of settlement funds requirement for Express Entry candidates. This slight rise has increased the minimum settlement funds just over 1.5 % for each family level. Find below the table to understand the new requirement as well as the increased amount:
Updated Proof of Settlement Funds Requirement
|Number of family members||2018 amount||Amount in 2019||Increase|
|Each additional family member||$3,361||$3,414||$53|
The increase for a single applicant in express entry, goes up to$12,669 from $12,474 which was earlier.
Why Proof of Funds is required?
Proof of funds is mandatory to show for all express entry candidates registered under Federal Skilled Worker category and Federal Skilled Trades category. It is required to prove that the primary applicant and his accompanying family members have the enough funds or financial backing,upon landing in Canada as permanent residents.
The candidates registered in EE System under Canadian Experience category (already working in Canada) are exempt from showing the minimum settlement fund amount. However, CEC candidates, who got invitation through FSW category need to show the funds. The settlement funds requirement increases with the number of family members, i.e. spouse/partner, dependent children (below 22 years of age) and dependent children of the spouse/partner. Family members not accompanying the primary applicant to Canada also need to be included.
Express Entry profile needs to be updated
Now, as the proof of settlement funds requirement has been raised, the profile of already registered applicant needs to be updated, as even the small lacking (in terms of less settlement amount) can impact their eligibility status in the EE system. Hence, if you are an express entry candidate, you must make certain that your profile show the updated proof of settlement funds amount.
Not getting ITA for a long time? Call expert for help
If you are not getting ITA (Invitation to apply) for Canada PR through express entry for a long time now, it's time to get in touch with qualified Canada migration expert to look out for alternate options.
There are ways to increase your current CRS (Comprehensive Ranking System) score and also to obtain Canada PR nomination via provincial nominee programs. For further details you may get in touch with most experience Canada migration experts at Visas Avenue- the trusted Immigration Consultancy Firm for Canada.
You may call Visas Avenue migration experts 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.
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