Our ServicesHow much money do you need to show to IRCC to immigrate to Canada? The answer is – it depends. It depends on your application pathway, it depends on your circumstances, it matters if you are employed, and if you are bringing dependents with you.
Showing the bare minimum amount (for example, $12,960 for Express Entry at the time of writing) is often not the recommended strategy. Keep reading to learn all about proof of funds and how much money you need to show to immigrate to Canada.
Proof of funds is not the same as the application fee.
Requirements for different programs
Showing the minimum level of funds is tempting but it is a strategy that can backfire. IRCC is looking to see if you can support living and accommodation expenses for yourself and anyone coming with you. Every program has its own minimum proof of funds requirement. While we cannot list out all of them, here are the requirements for Express Entry.
| Number of family members | Funds (in CAD) |
| 1 | $12,960 |
| 2 | $16,135 |
| 3 | $19,836 |
| 4 | $24,083 |
| 5 | $27,315 |
| 6 | $30,806 |
| 7 | $34,299 |
| For each additional family member | $3,492 |
Proof of funds for PNPs varies dramatically, depending on the cost of living and availability of employment in the area. For instance, the Atlantic Immigration Pilot only requires an individual to show $3,240 if he or she is immigrating alone.
Proof of funds does not mean you have to pay this much to IRCC! You just have to show that you have the money with you.
“How much money should I have to immigrate to Canada?”
How much money is needed to immigrate to Canada also depends on whether you are married and have dependent children. The minimum amount you need to show for proof funds increases with every family member. If you are immigrating under Canadian Experience Class or have a valid job offer in Canada, you do not need to show proof of funds.
How much money do you need to immigrate to Canada?
Based on a rough estimate, if you are immigrating to Canada as a permanent resident, you should have $23,000. That amount is for one person only. It includes rental accommodation, cost of living, transportation and other basic necessities. Less than this and you will be under pressure to find employment immediately after you move.
Bigger cities like Toronto and Vancouver are popular immigration hotspots and more expensive to migrate to. However, smaller cities near them offer far lower cost of living. Consider settling in cities in provinces other than Ontario and British Columbia for lower cost of living.
Simply showing funds in a bank account just before you submit your application or as property value is not enough. IRCC accepts only some specific types of proof. Talk to an immigration lawyer Toronto at Ronen Kurzfeld’s ImmigrationWay to find out how you should show proof of funds.
