Q. I have been approved as a Skilled Worker but need to know how much funds I need to settle in Canada?
________
A.
Under the Skilled Worker category of Immigration, the Canada Immigration Officer assessing an application must be satisfied that you have enough funds for settlement in Canada. The funds must be transferable and must the net amount minus your debts or other financial obligations. The requirement for settlement funds is waived if you have Arranged Employment in Canada.
The required settlement funds must be equal to or greater than the sums listed below for each family size. A current bank statement usually suffices to proof your settlement funds. The bank statement should not be just a print out of your financial transactions but should have your name, name of the bank and your account number to prove it is yours.
Below is a chart* for the settlement fund you would require for a Skilled Worker depending on your family size
| Number of family members | Funds required |
| 1 | 11,115 |
| 2 | 13,837 |
| 3 | 17,011 |
| 4 | 20,654 |
| 5 | 23,425 |
| 6 | 26,419 |
| 7 or more | 29,414 |
Of course you have to meet the required points under the Skilled Worker category to be approved in the first place.
* This chart is valid as of 2012
President & CEO
Michael Niren
Mr. Niren is CEO of VisaPlace LLC and the President and Managing Partner of VisaPlace Legal Canada, an immigration law firm based in Toronto, and VisaPlace Legal US a law firm registered in The District of Columbia, USA. Mr. Niren is a graduate of Osgoode Hall Law School in Toronto, a member of the Law Society of Upper Canada, the Canadian Bar Association’s Citizenship and Immigration Section, American Lawyers Association, and an Associate Member of the American Bar Association.
