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Skilled worker applications: How much money to I need to settle in Canada?

 

Q. I have been approved as a Skilled Worker but need to know how much funds I need to settle in Canada?

________

A.

Under the Skilled Worker category of Immigration, the Canada Immigration Officer assessing an application must be satisfied that you have enough funds for settlement in Canada. The funds must be transferable and must the net amount minus your debts or other financial obligations. The requirement for settlement funds is waived if you have Arranged Employment in Canada.

The required settlement funds must be equal to or greater than the sums listed below for each family size. A current bank statement usually suffices to proof your settlement funds. The bank statement should not be just a print out of your financial transactions but should have your name, name of the bank and your account number to prove it is yours.

Below is a chart* for the settlement fund you would require for a Skilled Worker depending on your family size

Number of family members Funds required
1 11,115
2 13,837
3 17,011
4 20,654
5 23,425
6 26,419
7 or more 29,414

Of course you have to meet the required points under the Skilled Worker category to be approved in the first place.

* This chart is valid as of 2012

 

 

 

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About Michael Niren

Michael is a graduate of Osgoode Hall Law School in Toronto. He is a member of the Law Society of Upper Canada, the Canadian Bar Association’s Citizenship and Immigration Section and the Associate Member of the American Bar Association. Read more

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15 thoughts on “Skilled worker applications: How much money to I need to settle in Canada?

  1. Akshay chaudhary

    hlo..i am an indian and completed my PG in industrial chemistry.i want to settle in canada and want a job there…..what should i do??and how much money do i need?

    Reply
    1. Muga Rajbhandari

      Hello Akshay. We will need to know more about the details of your situation. I am going to suggest that you contact us to make an appointment to talk with one of our immigration professionals who will be able to plan the best strategy for you. You can book an appointment by calling us at 1-416-410-7484 or online at http://goo.gl/JFZqPm
      Regards, Muga

      Reply
  2. Beverley

    Hi I’m an Anglo Indian lady 36 running a small business in India. I want to settle permanently in Canada along with my partner of 4 yrs n my 7 yr old son. I would like to know my eligibility and how much money I need to apply for a PR.. I also hav distant relatives who r will to sponsor us if every other avenue fails.. V want to move out asap as I want my son is growing up fast.

    Reply
    1. Muga Rajbhandari

      Hello Beverely. Thank you for writing to us. We will need to know a lot more about your situation and that of your partner in order for us to determine the best path for you. I am going to suggest that you contact us to make an appointment to talk with one of our immigration professionals who will be able to plan the best strategy for you. You can book an appointment by calling us at 1-855-886-8472 or online at http://goo.gl/JFZqPm
      Regards, Muga

      Reply
  3. yasmin

    hi..im living in pakistan and plan to settle in canada kindly guide me the right direction to apply ,,how can i apply how much will i have to pay and how much money do i need to have to settle in canada ?

    Reply
    1. Vahe Mirzoyan

      Hello Yasmin. There are many factors that go into determining how eligible you are for Permanent Residency status in Canada. Please complete this form for me http://goo.gl/RvRtRK it is a quick way for me to learn more details about you and your situation.
      Regards, Vahe

      Reply
  4. sundeep bhasin

    we r family of 6 people from india , i myself ,my wife , three children , & my mother , i want to settle in canada permantly ,on business visa , what r the things , capital required for us to settle there to immigration at once please let me know .

    Reply
    1. Vahe Mirzoyan

      Thank you for your inquiry Sundeep. I am really glad that you contacted us.

      There are many federal and provincial opportunities for people who are looking to start a business in Canada.

      Please Sundeep, complete this form for me http://www.visaplace.com/immigration-assessment/ it is just a quick and easy way for me to learn more details about you and your situation so that I will be able to advise you accurately and determine the best avenue for us to take to get you status in Canada.

      Vahe

      Reply
  5. raj KumarI

    Sir I m from India and have a son of 14 years old. I want to settle him in Canada on permanent basis. What should I do right from now.

    Reply
    1. Mira Freiwat

      Hello Raj,

      Thank you for your inquiry. In order for me to see what programs you and your family are eligible for in terms of Immigration to Canada, I would need to gather some information from you. Please complete this form http://www.visaplace.com/immigration-assessment/ as it will provide me with all the details I need to guide you in the right direction. As soon as I have received and reviewed it, I will contact you! MF

      Reply
  6. Edgar

    Good day sir. I have a distant relative, an uncle, a resident of Manitoba. He said that he is willing to sponsor me to Manitoba but the problem is that we both don’t know how and what will be the process, because when he entered Canada he was hired by an employer.

    Thank you very much.

    Reply
    1. owen

      Hello Edgar,

      We can definitely assist you with the sponsorship process and help you explore all of the options that are available for you. Please refer to http://www.visaplace.com/canadian-immigration/ for more information and also don’t hesitate to contact us.

      Regards,
      Owen

      Reply
  7. J

    Hi,
    I have a question:
    A friend of mine had applied for PR. He was given an application number. He provided all required documents including Bank statement. But the bank statement just showed a his balance and transaction for a period of 5 days! He was later asked to provide a 6 months bank statement. He provided that. But since he didn’t have enough money in his account in that period, his application was rejected.
    As you have mentioned here, He just needed to provide a current bank statement and he did it .So why was he rejected?

    Reply
    1. Michael Niren

      Hello J

      Yes sometimes the Embassy will ask for 6 months or more to verify that the applicant has enough financial support. Your friend may want to consider appealing this refusal to the Federal Court but the appeal will have to be submitted on time otherwise it will be too late.
      Regards
      Michael Niren

      Reply
  8. khawaja

    i am currently in Pakistan and want to get settled in canada
    how much capital do i need to get immigration at once?

    Reply

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