CANADA IMMIGRATION NEWS AND TIPS

Immigration Corner | Will they take my money? :  Dear Ms Powell, I recently got an invitation to apply for permanent residence in Canada. When I applied for express entry, I put in my application that I have CDN$20,000 to bring to Canada. This was based on the fact that I plan to sell my house after I get to Canada and check out the place. Now I have to provide proof of the cash and I don't have that amount of money in my bank account! I don't want to sell my assets yet, as I don't know what the future will bring. What if I go there and decide I don't want to live there? Is there a way around this? What will they do with the funds anyway? Will I need to present the funds when I am entering Canada? Can I borrow the money? - A.A. Dear A.A., When you submit an application under the express entry system, you are asked specific questions to determine your eligibility to come to Canada as an economic immigrant and to integrate into the Canadian society. Part...

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,...