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Settlement Funds
The Government of Canada does not provide financial support to new skilled worker immigrants. Pursuant to paragraph 76(1)(b) of the Regulations, Applicants must show that they have enough money to support themselves and their dependents after they arrive in Canada. Proof must be provided at the time the application for immigration is submitted. If sufficient funds are not available at the time the application is submitted, the application will be refused without further consideration. The funds can not be borrowed, and must be available and transferable and unencumbered by debts or other obligations. The amount of funds is assessed according to the applicant's family size based on Statistic Canada's most current low income cut-off guidlines. The amount of monies required is determined by the size of the family.
Number of
Family
Members |
Funds Required
(in Canadian dollars) |
1 |
$9,186 |
2 |
$11,482 |
3 |
$14,280 |
4 |
$17,286 |
5 |
$19,323 |
6 |
$21,360 |
7 or more |
$23,397 |
Pursuant to paragraph 82(2) of the Regulations, applicants do not have to show that settlement funds if they have been approved for "arranged employment" in Canada.
Disclosure of funds:
If you are carrying more than CDN $10,000, tell a Canadian official when you arrive in Canada. If you do not tell an official you may be fined or put in prison. These funds could be in the form of:
- cash;
- securities in bearer form (for example: stocks, bonds, debentures, treasury bills); or
- negotiable instruments in bearer form (for example: bankers' drafts, cheques, travellers' cheques, money orders.)
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