🚀 Attention Skilled Immigrants!
Are you ready to make Canada your new home? Before you embark on this exciting journey, there's an important update you need to know about your proof of funds. 💰
📅 Deadline Alert
The deadline for updating your proof of funds or settlement fund amount in your Express Entry profile is approaching fast! Make sure to complete this by May 27, 2024, to stay eligible for Canadian immigration.
💼 Who Needs Proof of Funds?
If you're applying under the Federal Skilled Worker Program or the Federal Skilled Trades Program, you'll need to show proof of funds. It's how you demonstrate that you have enough financial resources to settle in Canada.
🚫 Who's Exempt?
Good news for those applying under the Canadian Experience Class or with a valid job offer and authorization to work in Canada! You're exempt from showing proof of funds. 🎉
💵 How Much Money Do You Need?
The amount of money required depends on the size of your family. Check out the minimum funds needed based on family size in the table below w.e.f May 28, 2024.
Table 1: Proof of Funds
Number of Family Members | Funds Required (CAD) |
1 | $14,690 |
2 | $18,288 |
3 | $22,483 |
4 | $27,297 |
5 | $30,690 |
6 | $34,917 |
7 | $38,875 |
Each Additional Member | $3,958 |
📝 What Counts as Proof of Funds?
Your funds must be readily available to you when you apply and when your permanent resident visa is issued. 💳 Equity on real property or borrowed money won't cut it. You must demonstrate legal access to the funds, preferably cash in a bank account in your name.
🔍 How to Prepare
Research the cost of living in your chosen Canadian destination. Bring as much money as you can for a smoother transition. 💼 And remember, if you're bringing over CAN$10,000 into Canada, declare it to avoid fines or seizure of funds.
🛂 Stay Informed, Stay Prepared
Keep your funds updated, stay informed, and get ready to start your new chapter in Canada! 🍁
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Your Canadian dream is within reach, and we're here to guide you every step of the way. Stay engaged, stay informed, and together, we'll make your Canadian dream come true!
Please contact us for a cost-effective solution to fulfill your Canadian dream. 🍁
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