IRCC recently updated the amount of funds necessary for the Federal Skilled Worker and Federal Skilled Trades Programs.

Number of
Family Members
Funds Required
(in Canadian dollars)
1 $12,474
2 $15,530
3 $19,092
4 $23,181
5 $26,291
6 $29,652
7    $33,013

 

The applicant should include themselves, their spouse or partner, their dependent children and their spouse’s dependant children when calculating the size of their family. This calculation includes spouses and dependent children who are permanent residents or Canadian citizens.

Funds need to be transferable and available and unencumbered. Settlement funds must solely be in the name of the principal applicant. They cannot be co-owned or held in partnership by anyone else. These funds must be available both at the time of application and when a permanent resident visa is issued. The applicant will need to prove to an immigration officer that they are able to legally access those funds to settle in Canada when they arrive.

Please note that Canadian customs regulations require that all travelers to Canada must declare if they are bringing more than CAN $10,000 into Canada. Failure to do so could result in a fine and the funds being seized.


Borders Law firm

Avinash Mukka

Extreme professionals in handling all the immigration related issues. Borders Law Firm is a one stop where you needs will be fulfilled,personally i would suggest Borders Law Firm to everyone. Thanks to the BordersLaw Firm Team.

Himanshu Bhond

Borders law firm is best immigration consultant and lawyers in Ontario Canada. I suggest you to visit here for best service.

Office Clinical Psych

I cannot speak highly enough of the exceptional service provided by the Canadian Immigration law firm, particularly Attorney Andres. From the outset, their dedication to resolving my Canadian immigration matters was evident. Attorney Andres exemplified professionalism and empathy, dedicating ample time to understand my situation during our appointments. His communication skills were exemplary; he not only actively listened but also ensured clarity by summarizing our discussions and outlining the next steps via email promptly. Moreover, Attorney Andres’ profound knowledge of Canadian law was evident throughout the process, enabling him to navigate our various immigration matters effectively. His thorough analysis revealed potential roadblocks, prompting him to proactively engage with government agencies to obtain necessary details, all without incurring additional costs. The firm’s commitment to excellence and client satisfaction sets them apart. I highly recommend their services to anyone navigating Canadian immigration complexities. Thank you, Attorney Andres and the entire team, for your unwavering support and expertise.

Annie Caplan

Devika and John were excellent. They understood how this process would change my life and helped me get to the US. John was extremely kind and thorough. When my employer in the US ended up trying to take advantage of me, they helped me transfer my visa to a new employer and had so much empathy for my situation and now I have a job in California that makes me so happy while helping others. I am beyond grateful for their kindness and service. I will be using them for any changes to my status going forward.

See more Google Reviews

Copyright © 2024 Borders Law firm
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.