{"id":2194,"date":"2024-09-19T04:41:37","date_gmt":"2024-09-19T04:41:37","guid":{"rendered":"https:\/\/immigration-services.org\/?p=2194"},"modified":"2024-09-19T04:41:37","modified_gmt":"2024-09-19T04:41:37","slug":"updated-settlement-funds-requirement-for-express-entry-immigration-to-canada","status":"publish","type":"post","link":"https:\/\/immigration-services.org\/?p=2194","title":{"rendered":"Updated Settlement Funds Requirement for Express Entry Immigration to Canada"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.canadavisa.com\/images\/_1200x630_crop_center-center_82_none\/settlement-funds-2017.jpg?mtime=1656366477\" alt=\"\" title=\"\">  <img fetchpriority=\"high\" decoding=\"async\" alt=\"Settlement funds 2017\" src=\"https:\/\/www.canadavisa.com\/images\/_newsThumbnail\/settlement-funds-2017.jpg\" width=\"400\" height=\"225\" \/> <img fetchpriority=\"high\" decoding=\"async\" alt=\"Settlement funds 2017\" src=\"https:\/\/www.canadavisa.com\/images\/_newsThumbnail\/settlement-funds-2017.jpg\" width=\"400\" height=\"225\" \/><\/p>\n<p>Together, these three Canadian immigration programs make up the federal economic programs that receive applications through the Express Entry selection system.<\/p>\n<p>The increase in the settlement funds is marginal, at just over one percent for each family size. However, it is possible that this increase could affect some candidates\u2019 eligibility. Consequently, all candidates are encouraged to double-check the new figures to ensure that they have the required funds. The new settlement funds requirement only applies to applications submitted as of January 27, 2017. Applications already submitted will be assessed according to the previous requirements.<\/p>\n<p>Settlement funds are required so that new immigrants to Canada and their families, if applicable, have the means to establish themselves in their new surroundings and pay for initial costs, such as accommodation. This money cannot be borrowed from another person.<\/p>\n<p>These funds could be in the form of:<\/p>\n<ul>\n<li>cash;<\/li>\n<li>documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.) or<\/li>\n<li>documents that guarantee payment of a set amount of money, which are payable to you (such as bankers\u2019 drafts, cheques, travellers\u2019 cheques or money orders).<\/li>\n<\/ul>\n<p>An applicant may submit proof of funds for his or her accompanying spouse\/common-law partner, provided that the funds\u00a0are available to the applicant\u00a0to support his or her\u00a0initial establishment in Canada. The onus is on the applicant\u00a0to demonstrate they\u00a0he or she has sufficient funds available to support settlement in Canada. These funds must be available and transferable, and unencumbered by debts or other obligations. The settlement funds requirement must be met at the time the application is made, as well as when the permanent resident visa is issued.<\/p>\n<h2>Settlement funds requirement, as of January 27, 2017<\/h2>\n<p>The required settlement funds must be equal to or greater than the sums listed below for each family size. All sums are in Canadian dollars.<\/p>\n<table>\n<thead>\n<tr>\n<th>Number of family members<\/th>\n<th>Funds required<\/th>\n<\/tr>\n<\/thead>\n<thead>\n<tr>\n<td>1<\/td>\n<td>$12,300<\/td>\n<\/tr>\n<tr>\n<td>2<\/td>\n<td>$15,312<\/td>\n<\/tr>\n<tr>\n<td>3<\/td>\n<td>$18,825<\/td>\n<\/tr>\n<tr>\n<td>4<\/td>\n<td>$22,856<\/td>\n<\/tr>\n<tr>\n<td>5<\/td>\n<td>$25,923<\/td>\n<\/tr>\n<tr>\n<td>6<\/td>\n<td>$29,236<\/td>\n<\/tr>\n<tr>\n<td>7 or more<\/td>\n<td>$32,550<\/td>\n<\/tr>\n<\/thead>\n<\/table>\n<p>Requirements for settlement funds are updated annually.<\/p>\n<h4><em>To learn more about your Canadian immigration options, please fill out a<\/em>\u00a0<em>free online assessment<\/em><em>\u00a0<\/em><em>today.<\/em><\/h4>\n<p>\u00a0<\/p>\n<p> Please visit:  <br \/> <a href=\"https:\/\/teo-bg.com\/en\/tractors\/\" target=\"_blank\" rel=\"nofollow noopener\">Our Sponsor<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Together, these three Canadian immigration programs make up the federal economic programs that receive applications through the Express Entry selection system.The increase in the settlement funds is marginal, at just over one percent for each family size. However, it is possible that this increase could affect some candidates\u2019 eligibility. Consequently, all candidates are encouraged to&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2195,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2194","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-immigration-services-at-one-place"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Updated Settlement Funds Requirement for Express Entry Immigration to Canada - Immigration Services<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/immigration-services.org\/?p=2194\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Updated Settlement Funds Requirement for Express Entry Immigration to Canada - Immigration Services\" \/>\n<meta property=\"og:description\" content=\"Together, these three Canadian immigration programs make up the federal economic programs that receive applications through the Express Entry selection system.The increase in the settlement funds is marginal, at just over one percent for each family size. 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