If you’re applying for a Canada Immigration / PR visa, you must provide documentary evidence that you have enough money to maintain yourself& your family comfortably while you are in Canada.
You must submit proof that you have funds that will support your household during your employment search after you arrive. The minimum amount required for your application (canada Immigration Proof of Funds) is based on the size of your family, as listed in the table below.
A proof of funds (POF) is a document or bank statement proving that a person has the financial ability to perform a transaction.For instance, a POF is generally obligatory for people seeking mortgages as bankers are often more willing to issue them to those who have the sufficient funds to pay their mortgages off as opposed to those who cannot do so. Thus, a POF letter provides the selling or lending party with confidence that the funds are obtainable and legitimate.
The following funds will be accepted:
| Number of Persons in Household | Funds Required (in Canadian dollars) |
|---|---|
| One person | $12,475 |
| Two people | $15,531 |
| Three people | $19,093 |
| Four people | $23,181 |
| Five people | $26,292 |
| Six people | $29,652 |
| Seven people | $33,014 |
They must:
Fund statements must show a detailed transaction history for at least three months before the date your SINP application is submitted and must include the type of currency, fund holder’s name, contact information of the financial institution, account numbers, transactions and balances.
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CANADA IMMIGRATION PROCESS
