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SINP Settlement Plans and Funds

Saskatchewan Province want that people coming to their province must be self-sufficient to sustain their livelihood in Saskatchewan. To check whether an applicant has sufficient funds or not, the government of Saskatchewan has decided the fund requirements which a potential migrant must show before coming to the province.

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Settlement Plan

The settlement Plan is required by the province of Saskatchewan. You may take assistance from the Living in Canada tool that helps you in designing the plan for living in Saskatchewan. The living tool will ask certain questions and based on that will create your settlement plan for Saskatchewan. You may take the print-out of the plan and attach it with your application plan. Thus, Settlement Plan gives the brief idea about your living expenses and way of living in Saskatchewan that further helps the government in knowing your chances of survival in Saskatchewan.

Settlement Funds

Settlement Fund is a mandatory requirement you need to show in accordance with ‘laid down requirements’ as per the Canadian authorities. The main reason of asking about the funds requirement in the criteria is to showcase that you are able to support your household in the foreign land of Canada. Find  SINP job Demand list

The origin of the concept ‘Settlement Fund’

The concept originated is extremely practical as the government wanted that people coming from foreign land must maintain a safe circle with respect to their finances in Canada. Thus, the term dedicated to fund requirement was coined as “Settlement Fund”.

It is essential to maintain your funds three month prior to document submission. Instant set-up funds cannot be considered. Moreover, you must maintain your funds until your first landing in Canada. It is advisable to not withdraw funds instantly after landing in Canada. if you release funds before first land , your PR shall stand cancelled. The minimum required funds in Saskatchewan are based on the size of your family. Below mentioned table gives you the information about funds that you must show to the government for Canada PR. Also, you must meet IRCC’s “Proof of Funds” requirements when you apply for permanent residency after nomination by the  SINP.

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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

What Funds are Acceptable by the Saskatchewan Government?

The following proof of funds must be attached to your application:

  • Official letters, official statements, and/or certificates from one or more financial institutions
  • Your funds must be maintained at least 3 months prior to your application submission
  • Your funds must be under name of the principal applicant/spouse

The Fund Statements must show a detailed transaction history for at least three months before the date your SINP application is submitted and includes the type of currency, fund holder’s name and contact information of the financial institution, account numbers and balances etc.

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The acceptable funds by the Saskatchewan Government are:

  • Saving Accounts
  • Bonds
  • Cash value life insurance
  • Guaranteed Investment Certificate (GICs) or Certificates of Deposit
  • Mutual Funds
  • Provident Funds
  • Registered Retirement Savings Plans (RRSPs)
  • Stocks
  • Tax Free Savings Accounts
  • Treasury Bills

Please Note: Debentures, Credit Cards, Lines of Credit, Cash, Property or Businesses are not accepted as settlement Funds.
Make sure to call Our Immigration Experts before applying for SINP provincial. They can give you clear insight about the funds and other essential requirements needed for SINP. Call one of our immigration experts at 7503832132 today!

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