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

Victor Hernandez

Andres and his team at Borders Law Firm really impressed everyone at Siller Helicopters. We came to Andres with a very complex case for work visas, with a time-sensitive and moving window. Andres was very responsive to all forms of communication which highly contributed to completing the work visa packets in a very short window of time. Their knowledge and attention to detail are impressive and made it a pleasure to work with Andres and his team. Our crews had no issues getting their work visas approved when they arrived in Canada. In fact, the Canadian officials complimented the visa packets they presented, stating they were the most professional and organized packets they had seen in a long time. Thanks to Andres and Borders Law Firm, Siller Helicopters was able to take part in the emergency restoration of power, to towns that were affected by this year's wildfires in Canada. Thank you again Borders Law Firm.

Khalil Ahmad

I have had a great experience with Borders Law firm through out my son's citizenship and my wife's PR application. Devika, John Yoon, and Brendan are well knowledgeable and always gave the best advice. John Yoon, I can't thank you enough he made sure all the paper work is in order and dealing with 3 different department at the same time at he tail end of my wife's PR application, always there to answer my questions even after hours. John was just wonderful though out I have had a great experience with Borders Law Firm and I would strongly recommend this firm.

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I can't thank Devika enough. Devika and team has been very co-operative and active throughout my appliction process. I have had the best experience with BORDERS LAW FIRM. Devika's always given the bestest of the advice and helped making the right choice and decision. Thanks to the team for all their hard work and attention to detail.

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.

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