On the January 27, 2015, Citizenship and Immigration Canada ( CIC) updated the requirement for settlement funds. Individuals applying under the Express Entry system must provide proof of settlement funds if you do not have a valid job offer.
The amount required is based on the number of persons in your family.
Number of Persons in Family
|
Minimum Funds Required (CAD$)
|
1
|
11,931
|
2
|
14,853
|
3
|
18,260
|
4
|
22,170
|
5
|
25,145
|
6
|
28,359
|
7 or more
|
31,574
|
What proof will you need to submit?
- Cash
- Bank statement from your bank showing that you have savings or investments accounts in your name or the name of a spouse or common law partner
- Investments in the form of Cash Deposit ( CD), fixed deposits, stocks, bonds, debentures, treasury bills
- Bankers draft, cheques, travellers cheques, money orders
- Other source of investments that can be easily liquidated at a short notice.
Not acceptable
1. Bank
statements in the name of someone else, even if the person is a close relative;
2. Letter
of guarantee from an individual;
3. Bank
statements which show joint account with
someone other than your spouse or common law partner;
4. Business
Valuation;
5. House
Valuation
6. Trust
account or Estate Account bank statements
7. Property
Valuations
8. Vehicle,
Boat Valuations
9. Jewellery
or Fine art valuations
10. Pension statements, unless you have full control over these funds
and can cashed in at anytime to be able to produce a valid statement
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