If you are planning to enter into Canada, there are several guidelines that you will have to fulfill to be allowed to enter the country. In most cases, the visa officer will take these guidelines into account before granting you a long-term visa, or you will be asked to satisfy the questions of the immigration officials when you land on Canada. One such criterion set by the federal government is that you will have to show how you are going to fund yourself or your family members when you are immigrating to Canada. The proof of funds is a crucial factor for you to get into Canada and there are several aspects of this particular criterion.
Programs you must be eligible for
There are mainly two programs for which you must be eligible and you can do that only if you can show that you have enough money to support yourself and your family member/s. The proof of funds as it is called will let you meet the minimum requirements of
- the Federal Skilled Workers Program, or
- the Federal Skilled Trades Program
You will be accepted into any one of the programs only when you have the proof of funds. The fund is decided based on the number of family members that you are bringing into Canada.
Calculate the size of your immediate family
You can calculate the size of your family based on, yourself, your spouse or partner, your dependent children and your spouse’s or partner’s dependent children. This includes your spouse or dependent children who are already permanent residents or citizens in Canada.
Proof of funds according to the number of family members
The proof of funds is established by the federal government based on the number of family members you will be bringing. The table goes as:
| Number of Family Members | Funds Required (in Canadian Dollars) |
| 1 | $12,300 |
| 2 | $15,312 |
| 3 | $18,825 |
| 4 | $22,856 |
| 5 | $25,923 |
| 6 | $29,236 |
| 7 | $32,550 |
| For each additional family members | $3,314 |
It must be noted that you do not need to show these funds if you are currently authorized to work in Canada and have a valid job offer.
The federal government has made it clear that you can’t borrow the proof of funds from any other person. You must be able to use this money to pay the cost of living of yourself and your family even of they are not coming with you.
How much money to carry when entering Canada?
It is advised that you do a thorough research on the living costs in Canada and carry your money based on that. You can bring as much money as you can to make moving and finding a house in Canada a bit easier. However, you will have to declare the amount of money you are bringing, to the Canadian Customs, if the amount increases $10,000. If you fail to disclose the amount of money before entering, the customs department has the power to fine you and ultimately seize your money.