Immigration, Refugees and Citizenship Canada (IRCC) announced a slight increase to the proof of settlement funds required for skilled immigration through the\u00a0Federal Skilled Worker Class<\/strong> (FSWC)<\/strong>\u00a0and\u00a0Federal Skilled Trades Class (FSTC).<\/strong><\/p>\n

The\u00a0settlement funds\u00a0are based on family size of the new immigrants, and are adjusted annually\u00a0based on 50\u00a0per\u00a0cent of the\u00a0low income cut-off\u00a0totals. Settlement funds are required in order to demonstrate that\u00a0immigrating candidates\u00a0have the means to establish themselves and their\u00a0family in\u00a0Canada and pay for the initial costs, such as accommodation.<\/p>\n

Immigration, Refugees and Citizenship Canada (IRCC) is\u00a0encouraging candidates to keep their funds updated in their Express Entry profile, in order to ensure they continue to meet the financial requirements of the Express Entry<\/a> class through which they have registered. The condition of providing proof of funds does not apply to the\u00a0Canadian Experience Class (CEC)\u00a0<\/strong>candidates however, CEC candidates in the Express Entry pool must also demonstrate proof of funds to successfully receive an invitation to apply (ITA) for permanent residence through the\u00a0Federal Skilled Worker Class.<\/p>\n

Read more;\u00a0Canada reopens Parents and Grandparents Program<\/a><\/p>\n

The proof of funds should also be submitted by the principal applicant for his or her accompanying spouse\/common-law partner. The funds must be instantly available when a candidate applies for permanent residence and while the permanent resident visa is issued. The principal applicant will also have to prove to an immigration officer that they possess the required amount, and they can utilize it after landing in Canada.<\/p>\n

The funds that are borrowed and equity on real estate cannot be counted as proof.<\/p>\n

While applying with a spouse or partner, money held in a joint account can be counted towards the proof of settlement funds. If the funds are in an account that is under a spouse\u2019s name, they can also be counted if the applicant can prove they\u00a0have access to those funds.<\/p>\n

Revised Proof of Funds for New Immigrants:<\/u><\/strong><\/p>\n

The required settlement funds provided by the primary applicant must be equal to or greater than the sums listed below;<\/p>\n

<\/p>\n

Find more about your prospects for Canadian Immigration by sending us an email on wecare@immigrationexperts.pk<\/a><\/span><\/span><\/p>\n

You may also like our <\/span>Youtube channel<\/a> Immigration Experts for frequent updates. <\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Immigration, Refugees and Citizenship Canada (IRCC) announced a slight increase to the proof of settlement funds required for skilled immigration through the\u00a0Federal Skilled Worker Class (FSWC)\u00a0and\u00a0Federal Skilled Trades Class (FSTC). The\u00a0settlement funds\u00a0are based on family size of the new immigrants, and are adjusted annually\u00a0based on 50\u00a0per\u00a0cent of the\u00a0low income cut-off\u00a0totals. Settlement funds are required in […]<\/p>\n","protected":false},"author":8,"featured_media":8616,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[396,391,394,52,55],"tags":[287,79,80,247],"class_list":["post-8614","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-canada","category-canada-express-entry-draw-results","category-canada-provincial-nominee-program","category-canadian-immigration","category-canadian-immigration-news","tag-canada-express-entry","tag-canadian-express-entry-system","tag-canadian-immigration","tag-saskatchewan-immigrant-nominee-program"],"yoast_head":"\n