Who needs funds: – Federal Skilled Worker Program – Federal Skilled Trades Program

Who doesn't need funds: – Applying under the Canadian Experience Class – You have a Valid job offer and work authorization in Canada, even if you apply for Federal Skilled Worker or Trades programs.

How much money do you need: – Yourself: $13,757 – Your spouse or common-law partner: $17,127 – With one Dependent child: $21,055, subject to change each year

What we accept as proof with both: – A fund must be available when you apply. – Funds must be available when the PR visa is issued.

What we do not accept as proof : – You can't use the equity on real property as proof of settlement funds. – You can't borrow many from another.

Official Financial Letter:  On the financial institution's letterhead should include: – Account Details with the last 6 months' balance – Bank information – Your Name – Outstanding Debts

Official Funds:  The proof of funds must include savings accounts, fixed deposits, or certain investment funds.

Acceptable Types of Funds:  Type of funds, including cash, bank balances, and certain investment accounts like stocks and bonds.

Currency Requirement:  The proof of funds should be in Canadian dollars (CAD) or an equivalent amount in another currency.

Settlement Plan: When you arrive in Canada, you tell the border officer that if you bring more than $10,000, either you will be fined or the fund could be seized.

Provincial Nominee Program (PNP) Applicants:  Some provincial nominee programs require proof of funds even if the applicant has a valid job offer from a Canadian employer.