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Proof of funds requirements – Explained

Hi All,

I just got reply from CIC New Delhi for Proof of Funds Requirement,

Kindly have a look.

Dear Sir/Madam,

This is in response to your recent email enquiry to the Immigration Section of the Canadian High Commission in New Delhi.

The amount of funds you need to have in order to settle in Canada depends on the size of your family. The funds must be available to you and transferable to Canada. They must be unencumbered by debts or other obligations.

Number of family members
Funds required

1
$11,086

2
$13,801

3
$16,967

4
$20,599

5
$23,364

6
$26,350

7 or more
$29,337

Acceptable proof of funds are:

-bank accounts in your name or the name of your accompanying spouse/common-law partner;

-cashable investments in your name or the name of your accompanying spouse/common-law partner;

-cashable fixed deposits in your name of the name of your accompanying spouse/common-law partner.

Not acceptable are:

-bank accounts in someone else’s name;

-bank accounts which are joint in your name and someone else (other than your accompanying spouse/common-law partner);

-bank accounts in the name of your spouse who is not accompanying you to Canada ;

-property valuations;

-vehicle valuations;

-jewellery valuations.

You are not required to carry your funds in cash when you arrive in Canada. You are, however, required to show documentary evidence that you have the funds available (in bank accounts or cashable investments), and that they can be transferred to Canada.

A port of entry officer in Canada may seek to confirm these funds before granting you permanent residence along with your dependants.

If you have arranged employment in Canada, you do not have to meet these financial requirements. Arranged employment means that you have an offer of indeterminate employment from an employer in Canada. You must be either currently working in that employment on a work permit in Canada, or have been issued a labour market opinion has must have been provided by the Human Resources and Skills Development Canada (HRSDC). In order to be exempt from the minimum funds requirement, the offer of employment must be genuine, the employment must not part-time or seasonal, the wages offered must be consistent with the prevailing wage rate for the occupation, and the working conditions must meet generally accepted Canadian standards.

We trust that this information will be of assistance.

**
Immigration Section / Section de l’immigration
Canadian High Commission / Haut-Commissariat du Canada
7/8 Shantipath, Chanakyapuri
New Delhi
India / Inde

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