How Much Money You Need To Immigrate To Canada

When it comes to immigration costs, Canada is still fairly affordable compared to other popular immigration destinations such as Australia, the UK, and the USA. Immigrating to a new country can be tsking and financially straining but the outcome is worth it.

Importantly, it brings fresh and promising opportunities to better your family. This article talks about the amount you need to immigrate to Canada. A family of four immigrating to Canada is looking at paying approximately CAD $11, 000 less than a family of four immigrating to Australia.

The amount of money you need to immigrate to Canada depends on the size of your family, and the type of immigration program you apply for. It further involves settlement funds, visa processing fees, and the collection of required documents.

Savings is very important when you plan on immigrating to Canada. Whether or not you are working or have a job in Canada it does not make a difference. You and your family need to survive for at least the first five months of entry. Thereafter, you can start settling into the system and finding a job.

However, you will need to pay bills upon arrival. These bills in question are non-negotiable and must be paid. The bills include; groceries, rent, transportation, and utilities. To ensure that you don’t run out of money before you’ve received your first paycheck, the Canadian government requires that all permanent resident applicants have an adequate amount of savings.

Immigration, Refugee, and Citizenship Canada (IRCC) Settlement Funds

Immigration, Refugee, and Citizenship Canada (IRCC) brought the easiest way to immigrate to Canada. This easy way is popularly known as the Express Entry. The Express Entry has brought so many skilled workers immigrant and their family into Canada.

However, the Immigration, Refugee, and Citizenship Canada (IRCC) fee change every year. In years past, a single immigrant without a spouse or dependent child should have saved a minimum of $12960 (in Canadian currency) to be qualified for permanent residency. A couple should, however, have the minimum of $16135 saved up to qualify for permanent residency. Basically, for every member of the family joining the immigration process $3492 is in addition to the above amounts.

NOTE: It is important to note that even if your family members are not migrating with you the amount above needs to reflect in your saving s for each member you have.

Express Entry

In the Express Entry system, there are no fees to be paid here while creating a profile. It is free. However, you will need to pay $825 upon receipt of ITA and application completion. Although, every dependent child pays an additional $225.

Permanent Residence Visa Fee

The permanent residence visa fee costs $500 per adult. To prevent procession delays pay it with the application fees. Although, upon application rejection, the money will be refunded to you. However, if accepted, it means you are officially a Canadian citizen.

Settlement Funds For Provincial Nomination Program Immigrants

The PNP immigration pathways, designed and managed by the 11 participating provincial governments. Candidates apply to a PNP in hopes of achieving a nomination that significantly enhances their final application for permanent residency to the IRCC. However, you must meet the settlement funds of the PNP to qualify for a nomination. The settlement funds required may vary from province to province and are dependent on the cost of living for that region.

Saskatchewan PNP Settlement Funds

In this province, for a single person, the minimum is $12699. However, the more people who accompany you, an additional of at least $3000 is there and this is per person.

Ontario PNP Settlement Funds

Just like the Saskatchewan PNP Settlement Funds, the same applies to the Ontario PNP settlements funds. In this province, the minimum for a single person is $12164. Also, the same amount goes for these settlement funds. An increment of at least $3000 per person occurs here. For two people, the minimum is $15143. In addition, for three people it is $18617.