ircc-updates-proof-of-funds-for-canada-pr-express-entry-pathway

IRCC updates proof of funds for Canada PR, Express Entry Pathway

04-05-24
Yogesh shukla
221

IRCC updates proof of funds for Canada PR, Express Entry Pathway

The proof of funds requirement for Express Entry candidates has been updated by Immigration, Refugees and Citizenship Canada (IRCC).

The modification went into effect on April 25 and was declared on the IRCC website today, May 2.

Every year, proof of fund amounts is updated. The IRCC bases the amount at half of the totals of the low-income cut-off. You must update the settlement fund numbers in your Express Entry profile in order to maintain your eligibility.

Why do you need proof of funds?

You can demonstrate to us that you have enough money to live in Canada by providing proof of cash. Please provide documented evidence of your financial situation if we extend an invitation to apply.

Who requires proof of funds?

To satisfy the minimal requirements of the Federal Skilled Worker Program and the Federal Skilled Trades Program, you must provide proof of finances.

How much cash you require

The size of your family determines how much money you need to support them.

To determine how big your family is, take into account

• you;

• your partner or spouse;

 • your dependent children; and

• the dependent children of your partner or spouse

Your dependent children and spouse or common-law partner must be included, even if they are not traveling to Canada with you and are Canadian citizens or permanent residents.

The minimal amount required to immigrate to Canada is displayed in this table. If your income is higher, it should be disclosed in full on your application or profile.

The minimum amount of money required, depending on the size of your family, to immigrate to Canada

Number of family members

Funds required (in Canadian dollars) {effective on May 28, 2024}

Old funds requirement {effective until May 27, 2024}

1

$14,690

$ 13,757

2

$18,288

$ 17,127

3

$22,483

$ 21,055

4

$27,297

$ 25,564

5

$30,690

$ 28,994

6

$34,917

$ 32,700

7

$38,875

$ 36,407

If more than 7 people, for each additional family member

$3,958

$ 3,706

 

For more queries regarding the cost for Canada PR from India, you can refer to https://www.aptechvisa.com/total-cost-for-canada-pr-from-india  You can give a call to our Canada Immigration Consultants at 9289289006, 9131059075, 7503832132.

 

Book your consultation