Canada is one of the most favorable countries for immigration, especially for skilled or trained workers. Immigration, Refugees and Canadian Citizenship (IRCC) along with some provincial governments run around 60 immigration programs to ease the entry of internationals from different parts of the world.

Express Entry is an immigration program of Canada which is used to manage applications for Canadian permanent residence from skilled and experienced individuals. The aim of this program is to increase the productivity and economic growth of Canada. So, it directs applications through three different economic immigration streams, including, Federal Skilled Worker Class (FSWC), Federal Skilled Trades Class (FSTC) and Canadian Experienced Class (CEC).

Every year, hundreds and thousands of applications come under Express Entry program. If you are also interested in the same, then go through the following list of requirements:

• An applicant must be at least 18 years old
• He/she must have scored minimum CLB level 7 in language proficiency test for the first official language
• He/she must have a job offer for paid, full-time and permanent job, listed in NOC either skilled type O, A or B
• He/she must score a minimum of 67 points out of 100 on point assessment grid
• For applying in Federal Skilled Worker Class and Federal Skilled Trades Class, he/she needs to show sufficient funds to support him/her and his/her family in Canada after immigration

Proof of funds is one of the biggest game changers in approval of applications for Canadian permanent residence. Canadian Government demands proof of funds to check whether an individual is able to survive in the state or not till the time he/she finds a suitable job there. Like every other country, its aim to immigrate internationals from different corners of the world is to boost up its economy. So, they don’t want any candidature that will survive there below the poverty line.

So, whether you are a doctorate or have a good command over English or French, all go waste, if you are not able to show sufficient funds which prove that you can manage your bread-butter and accommodation easily in Canada.

Now, the question arises;

How much funds you have to show to stamp Permanent Residency Visa?

The amount of money varies according to the number of dependent family members. For an individual who is single or never married, the required amount is around 7, 00,000 in INR whereas if an applicant is married, then its 7, 00,000 for primary applicant, 1, 50,000 for the secondary applicant (spouse) and 1,50,000 for every dependent kid.

More the number of members in family more is the need of amount of funds to show and to sustain them in Canada.

Financial instruments accepted as proof for funds:

The Canadian government accepts only liquid assets or dissolvable funds which can be available to you for use in Canada.

Note: An individual neither uses equity on real property nor borrowed money for proof of funds.

So, if you are planning to immigrate to Canada, then you must possess the funds at the time of filing the application as well as receiving Permanent residence visa. An immigration officer will ask you for proof of funds, so at that time you need to prove that you can legally access the given amount. For that, you need an official, financial letter approved from any bank or financial institution, where you are keeping that amount.

However, make sure the letter must be printed on the letterhead of financial institution, and include the following essentials:

• Contact information (address, telephone number and email address)
• Your name
• List of outstanding debts such as credit card debts and loans
• Details for each current bank and investment account with:
• Account number
• Date of opening of each account
• The current balance of each account
• The average balance for the past six months

You can bring as much amount as you want in the form of cash, stocks (shares, treasury bills) and bank balance (cheques, deposits, money orders).

For further information, contact experts of countrywide visas. Countrywide visas is one of the fastest growing Immigration consultancies with a large, devoted team of Immigration experts offers hassle-free and professional services to its clients for filing their applications for various immigration programs.

You are welcome to call us or send us an email with your immigration questions and inquiries. You may contact us on 011-41075840 / 011-41045840  or leave a mail at info@countrywidevisas.com. You may also fill the Technical Assessment Form for free to get a call back from our Immigration Specialists. All you need to do is fill an assessment form and let our immigration experts assist you over the phone call or by meeting you in person and give you the best available options to fulfill your dreams of settling abroad.