Proof of funds for Express Entry | Canada 2021
Every year IRCC updates the minimum proof of funds you need to settle in Canada. The changes are not big, but there is a chance they could affect your eligibility if you don’t pay attention to the numbers.
Here we’ll explain to you:
Applicants in the following categories need proof of funds as part of their minimum requirements:
– Federal Skilled Worker Program. This program targets people who may economically establish themselves in Canada because of their job experience, knowledge of English or French languages, age, education, and adaptability to Canada.
– Federal Skilled Trades Program. If you apply to immigrate to Canada under this program, you need to show that within the last five years you have had at least two years of work experience. Your job has to be under any of the acceptable skilled trade jobs.
The proof of funds for Express Entry depends on the size of your family. Your family includes yourself, your spouse/partner, your dependent children, and your spouse’s dependent children. You need to include your family even if they are permanent residents or Canadian citizens, or they are not coming to Canada with you.
of Family Unit
|If more than seven persons, for each
additional person, add
According to IRCC, you must get official letters from any banks or financial institutions. These letters must be:
- Printed on the financial institution’s letterhead
- Include your and their contact information
- List outstanding debts such as credit card debts and loans
You should include for each current bank and investment account:
- Account numbers (with the date each account was opened)
- The current balance of each account
- And average balance for the past 6 months
You can bring to Canada:
- Documents that show property or capital payable to you (stocks, bonds, debentures, treasury bills)
- Documents that guarantee payment of a set amount of money. This includes banker’s drafts, cheques, and money orders.
Questions about funds for Express Entry or Immigration matters to Canada
If you have any questions about funds for Express Entry 2021 or other issues related to immigration, fill out the following form. Of course, we will get back to you as soon as we can. However, if the question is case-specific, we advise you to book a consultation session.
-Read this article in Spanish–
If you wish to visit or move to Canada, please fill out our free assessment form. We will review it for free, but we will contact you only if we find an opportunity for you. Alternatively, you may book a consultation session. Consultation sessions are not free, but you will receive formal advice from a licensed practitioner.
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This article provides information of a general nature only. Considering the fluid nature of the immigration world, it may no longer be current. Of course, the item does not give legal advice. Therefore, do not rely on it as legal advice or immigration advice. Consequently, no one could hold us accountable for the content of these articles. Of course, if you have specific legal questions, you must consult a lawyer. Alternatively, if you are looking for immigration advice, book an appointment.
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