Proof of Funds - Mandatory Requirement
Applicants for skilled worker category should be able to provide proof of sufficient settlement funds to support themselves and their dependents after they arrive in Canada. Failure to provide the evidence of sufficient funds may lead to refusal of application. The funds should be readily available and unencumbered from debt, i.e., they should belong to the applicant and cannot be borrowed from another person.
The amount of money needed to support a family is determined by the size of the family. These amounts are updated every year.
| Number of Family Members | Funds Required (in Canadian dollars) |
|---|---|
| 1 | $10,601 |
| 2 | $13,198 |
| 3 | $16,225 |
| 4 | $19,700 |
| 5 | $22,343 |
| 6 | $25,199 |
| 7 or more | $28,055 |
One doesn't require the proof of funds if he/she already have employment arranged in Canada.
