Oshawa Office

Calver and Associates

Immigration Services

71 Albert St., Suite 6, Oshawa

ON L1H 4R1

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Cobourg Office

Calver and Associates

Immigration Services

278 George St., Cobourg

ON K9A 3L8

Direct Line: 289-677-0108

admin@calverandassociates.com

Appointments available: Monday to Friday 10:00am - 6:00pm

  • Calver & Associates

Updated Proof of Funds for Skilled Immigrants – Express Entry

Updated: Oct 9, 2019

How much money will you need to immigrate to Canada?

As of February 2018, the amount of money required to settle in Canada has changed. Previously, settlement funds for one applicant were $12,300. Now, a person will have to show a minimum of $12,475. This amount increases by $3,361 with each additional family member. It is important to note that proof of funds must be available both at the time of application and at the time of issuing a permanent resident visa.


Number of Family Members Funds Required 1 ______________________________ $12,475 2 ______________________________ $15,531 3 ______________________________ $19,093 4 ______________________________ $23,181 5 ______________________________ $26,292 6 ______________________________ $29,652 7 ______________________________ $33,014


What is accepted as proof of funds?

Proof must be in the form of official letters from a bank or financial institution where your money is kept. A letter must:

  • Be printed on the financial institution’s letterhead

  • Include their contact information (address, telephone number and email address)

  • Include your name

  • List outstanding debts such as credit card debts and loans

  • Include, for each current bank and investment accounts

  • Account numbers

  • The date each account was opened

  • The current balance of each account

  • The average balance for the past six months


How do I know if this affects me?


This update affects those who have applied for entrance via the Federal Skilled Worker Program or the Federal Skilled Trades Program. Please note that this update does not impact those in the Canadian Experience Class program.


For more information, please visit: https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/eligibility/skilled-trades.html


Contact us today for more information on how we can assist you with the immigration process.