The Government of Canada has introduced a slight increase to its settlement funds requirement and is urging Express Entry candidates to ensure their profiles reflect the change. The increase raises the required minimum settlement funds by just over 1.5 per cent for each family level.
For a single person arriving unaccompanied in Canada, this translates to an increase from $12,474 to $12,669.
All Federal Skilled Worker Class and the Federal Skilled Trades Class candidates must show proof of funds, which are required to ensure the principal applicant and her/his accompanying family members have the means to support themselves financially upon landing in Canada as permanent residents.
Canadian Experience Class candidates who are working in Canada on an eligible work permit are exempt from having to prove they have the minimum settlement funds.
However, Canadian Experience Class candidates invited to apply for Canadian permanent residence through the Federal Skilled Worker Class will have to show proof of funds.
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