True Immigration Facts About Proof of Funds for Canada

Canada is one of the best countries to live, work, and study in. The people are naturally receptive and Canada is known for its multicultural setting, which makes it easy to adapt to the country.

Hence, it’s normal that the country welcomes tourists in their millions every year and some people have plans of settling down in the country permanently.

Whatever your purpose for visiting Canada is, the country always welcomes you with an open arm, you only have to fulfill the immigration requirements.

Also, aside from the beautiful scenery that graces Canada, there is a security of life and properties, high life expectancy, employment opportunities, universal healthcare, and lots of other amazing benefits accrued to living in Canada.

However, before you can get access to Canada, you need to ensure that you have sufficient funds and show proof of funds that you can take care of yourself or your family members throughout your stay in the country.

The government of Canada is very conscious of this and ensure that foreign immigrants can take care of themselves and their family members throughout the duration of their stay.

Do you want to move to Canada and you want to know about the Canadian proof of funds, you made it to the right place. In this article, I will be going into detail about all you need to know about some facts about the proof of funds for Canadian immigration.

Who Needs Proof of Fund?

In most cases, people require proof of fund before they can gain access into the country. You require proof of fund if you are applying through:

  1. Federal Skilled Worker Program
  1. Federal Skilled Trades Program

Who Does Not Need Proof of Funds?

Though in most cases, people need to provide their proof of funds before they can be given access into the country; however, there are cases where you don’t require proof of funds before you can gain access into the country.

Here are situations where one don’t need proof of funds to gain access into the country:

  1. You don’t need proof of funds if you are applying through Canadian Experience Class or if you have been approved to work in Canada. Also, if you have a valid job offer, you don’t need to show proof of funds.
  1. If you don’t need to show that you have enough money to take care of yourself and your family members.
  1. If your funds are up to date in your profile, you don’t have to show proof of funds.

Related: Travel to canada as a self employed person

How Much Money Will You Need to Show as Proof of Funds?

The amount of funds you are to show depends on the size of your family. Your family size includes:

  1. Yourself
  2. Your spouse or partner
  3. Your dependent children
  4. Your spouse’s dependent children

Final Thought

Proof of funds is taken very seriously by the Canadian government; this is to avoid you or your family member from being a burden to the government during your stay in the country.

Do you want to move to Canada and you are wondering about the benefits of proof of funds? In this article, I went into detail on everything you need to know about the facts about the proof of funds.