Proof of funds are required to support yourself in Canada during your first month of stay in Canada in other terms uttered as Show money or proof of funds
Potential Immigrants looking to settle down in Canada under PR must prove to the Canadian government that they have sufficient funds to take care of them and their family in the initial stages of reaching Canada. Proof of Funds are also called Settlement Funds or Show Money.
Proof of Funds is mandatory for Canada PR process. But during the initial stages of the process proof of funds is not necessary. Once we receive ITA (Invitation To Apply) from the Canadian Government we must submit a Proof of funds Document along with other documents to be verified by the government. On an Approximation we might require proof of funds in 6 to 8 months of the process.
Your Bank account must be at-least 6 months old.
The bank account must be in either primary applicant or secondary applicant name Joint account within primary and Secondary applicant is also accepted.
A Detailed statement of the last 3 to 6 months is required. The statement must be in the form of a letter from your banking partner.
The Letter must include the details furnished below:.
What is not Accepted as Proof of Funds for Canada PR?
Money borrowed from friends or relatives
How to submit Proof of funds for Canada PR?
|Number of family members||Funds Required in CAD $||Funds required in INR 1 CAD = 60 INR (Approximately)|
|3560 for every additional family member||2,13,600 INR|
When do I need not show Proof of funds?
If you qualify under CEC stream under Express Entry Proof of funds is not necessary
If you have a valid LMIA job offer from a Canadian Employer Proof of Funds is not mandatory
How to show Proof of funds for Canada Study visa:
For SDS stream:.
GIC is mandatory (Guaranteed Investment certificate). The student must have paid the 1st year tuition fee. A minimum of 10,000 CAD$ must be shown.
For Non SDS stream:.
Student can just pay 1st term tuition fee or Semester fee and can show around 3 to 4 lakhs on an average for their living expense in Canada.
My spouse is Accompanying me with Open work permit along with my study visa how can I show proof of funds?
|Person Count||Funds Required in CAD $||Funds required for a month in CAD$|
|1st family member (Spouse or Child)||4000||333|
|Additional family member (Spouse or child)||3000||255|
Yes, Fixed deposits are accepted as Proof of Funds for Canada. FD can be either in primary or secondary applicant name.
Yes, Proof of funds can be shown in your home country bank account and currency however the equivalent CAD funds are required to be maintained
No, Proof of funds is mandatory you cannot immigrate to Canada without Proof of funds. However, qualifying under CEC stream, QNP (Quebec Nomination program) or Owing a Valid LMIA job offer can be proof of funds exempt.
No, Loans are not considered and not accepted as Proof of funds for Canada PR.
All financial institutions registered under RBI and following RBI guidelines can provide Proof of funds letter/Document.
You must hold an account with your financial institution and it must be minimum 6 months old to be considered for Proof of funds document.
Our Happy Clients
Best ever overseas education guidance provided here..from the beginning till the end they were really responsive and they solved all my queries I would surely recommend GreenTree Immigration Chennai for anyone looking for overseas education
They guided and helped me very muchh...I got my visa much quicker than I expected...!! Thanku so much guys for getting my visa process smoothly...!
I would surely recommend Green Tree Immigration for your Canada PR process Thanks for processing my profile
I would surely recommend Green tree For your PR Process i was provided with all the information upfront by Mr Reuban Derek but they are quite costly Compared with other Immigration company but worth it, i just received my C-opr Thanks to green Tree and God
Happy with your swift response till date from day 1.. responsible team i would surely recommend Green Tree Immigration for Canada Immigration
I recently initiated my PR visa process eith Green Tree. They are very prompt in replying to my queries/requests. My Process executive takes all the efforts to keep me informed of any updates and stays in touch. I am very satisfied with the service after making the payment... Hope i will get my PR soon
There are numerous immigration service providers available, to feel the worth of your hard earned money you can definitely choose GreenTree Immigration. It was an ideal choice to recruit GreenTree Immigration for my Canada PR process.
Apart from the process and knowledge you can get the trust and response from GreenTree Immigration. Excellent co-ordination through out my Australia study visa sub class 500. Im privileged to find the best australia study visa consultant in chennai.
Amazing and Humble staff. GreenTree helped my younger brother to study in Canada. The process was smooth sail I would give it a 5 stars for its help. Definitely the best and genuine Canada study visa consultant in chennai
Definitely worth it. Saw their Google reviews and had an initial appointment One of Top immigration consultant in Chennai.all the queries were answered politely and professionally.Made the right move of choosing GreenTree Immigration for my canadian PR process. Best visa consultant in Chennai.
My profile wasnt getting nomination it was in pool since a long time when I applied myself so I felt demoralised but after talking to GreenTree Immigration, they suggested and motivated me to apply for PNP to increase the chances of getting nominated and by god grace and with efforts from GTI I got acceptance from british columbia.
I contacted GreenTree Immigration to collect information about Canada student visa over phone. Their person guided me well and gave crisp information over the process.. i felt a bit costly but im going ahead with them for my canada study visa and i hope i will successfully get my visa
This place is the best consultant for Australia PR. They were really great with the approach and professional guidance. They listen to all our queries patiently and address them. They are great to work with definitely the best Australia immigration consultant in bangalore
So far its been a great experience with GreenTree Immigration. Process team has been very professional & swift. GreenTree is definitely one among the Top 10 canada PR Consultants in chennai highly recommending them as your canada Immigration consultant
Came to know about GreenTree Immigration via quora..i initiated my canada PR visa proceds with them.. i received my BC Tech draw nomination by today…it was a smooth transition till date hope the remaining process will be of same quality.. GreenTree Immigration is surely the best canada Immigration consultant
They used to respond very quickly to my queries. They are Highly dedicated towards their work and they never gave me a chance to complain. They were excellent on my Australia PR application Process. GreenTree is the best Australia PR consultant