Gone are the days when first-come, first-served policy worked in Canada to select immigrants for its Permanent Residency (PR) visa. Nowadays, each of Canadian immigration programs either Federal Skilled Worker Program Express Entry or provincial nominee program has its checklist for Canada PR visa requirements and only after qualifying it, an applicant becomes eligible to apply for Canada PR visa program from India.

Canada Permanent Residency Visa Requirements 2019 includes:

• Work experience requirements
• Language proficiency requirements
• Education requirements
• Documents requirement
• Proof of funds

Proof of funds for skilled immigrants:

Although Canada is a hub of job opportunities, yet it may take weeks or months to new permanent residents to search for a good job for them in the nation after immigration. So keeping it in mind, the Government asks for proof of funds from applicants in some Canada immigration programs to ensure that the applicant has enough money to support his/her living of expense in Canada after immigration.

Who requires proof of funds?

Before initiating the procedure to apply for Canada PR visa program from India 2019 through economic immigration programs like Federal Skilled Worker Class and Federal Skilled Trades Class, an applicant needs to show proof of funds. So besides qualifying PR eligibility points required for immigration to Canada, an applicant needs be ready with proper amount of funds.

However, all those candidates who have a valid job offer or applying under other immigration programs like Canadian Experience class don’t need to worry about fund required for Canada PR visa from India.

How much funds does an applicant need to show to stamp Permanent Residency Visa?

The amount of money varies according to the number of dependents in the family of an applicant. 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.

Remember, more the number of members in family more would be the need of amount of funds to show and to sustain them in Canada.

What can be accepted as proof of funds?

The Canadian government accepts only liquid assets or dissolvable funds as a part of Canada PR Visa Requirements 2019 which can be available to applicant for immediate use in Canada after immigration. For instance, borrowed money or equity on real property cannot be treated as proof of funds.

In case, spouse of an applicant is also moving to Canada, the amount of money available to the joint account under the name and access of both applicant and spouse can be used as 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 any information, feel free to contact experts of countrywide visas. Countrywide visas is one of the best Immigration Consultants in Delhi for Canada PR with a large, devoted team of Canada 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.