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

Bhumika Kashyap

My husband and I had great experience working with Border Law Firm from beginning to end. They answered all my questions and mention the best option First, to get my husband spousal open work permit approval and Second, to get my permanent residence. I am very thankful to Devika Ma'am and Jenny they give great and detailed advice on each part of your application. They were very professional and punctual at their response throughout the process.

Arjun Vegesna

Absolutely delighted with John from this firm with the way he counselled with suitable options available for me on migration to Canada, documentation submissions, query resolutions, visa processing and continued personal support and follow up until the last step. Would recommend this firm for anybody blindly looking for immigration help. They would guide you with complete transparency and professionalism.

Harmanpreet Singh

We have had an excellent experience with Borders Law firm & would like to personally thank Jenny Mao who was handling our application & was extremely prompt in her responses, well versed with the documentation & professional throughout our journey. Would strongly recommend them for a personalized service & vast knowledge on the subject

Richa Jain

Our biggest dilemma while researching for an Immigration Consultant was someone we could trust and that could manage our application well. We are so glad to have found Borders Law Firm. Devika gave us exceptional guidance due to which we got ICT Work Permit approval. Big thanks and appreciation for Jenny Mao for such professionalism and dexterity shown while handling our application. Kudos to BLF team for their superb work and simply for the trustworthiness they have ..… Best Wishes !

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