Unless you are currently authorized to work in Canada and have a valid job offer from an employer in Canada, or you have been invited to apply under the Canadian Experience Class, you must show that you have enough money to support yourself and your family after you get to Canada.
You cannot borrow this money from another person. You must be able to use this money to pay the costs of living for your family (even if they are not coming with you).
You will need to show proof to the Canadian visa office in your home country that you have enough money when you apply to immigrate.
You do not have to show that you have these funds if:
- you have a valid offer of arranged employment in Canada AND
- you are currently working or authorized to work in Canada.
The amount of money you need to support your family is set by the size of your family. The Government of Canada updates these amounts each year.
Bring as much money as you can to make moving and finding a home in Canada easier. Note, however, that Canadian customs regulations require you to declare if you are bringing more than C$10,000 into Canada. If you do not tell them, you may be fined or put in prison. These funds could be in the form of:
- documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.) or
- documents that guarantee payment of a set amount of money, which are payable to you (such as bankers’ drafts, cheques, travellers’ cheques, or money orders).