How Much Money Do You Need to Immigrate to Canada?

How Much Money Do I Need to Immigrate to Canada in 2023

The amount of money you will need to Immigrate to Canada in 2023 will depend on factors such as your immigration category, the province you plan to settle in, and the size of your family.

You will need to have enough money to support yourself and your family for at least six months after you arrive in Canada. This is known as the “settlement funds” requirement, and is to ensure you have the financial resources to establish yourself in Canada before you begin working.

Money Required for the Federal Skilled Worker Program to Canada

The most common immigration pathway for people moving to Canada is the Federal Skilled Worker Program (FSWP).

To qualify for this program, you must have at least one year of continuous full-time work experience in a skilled occupation, and you must also meet certain language, education, and other requirements.

The settlement funds requirement for the FSWP is $12,960 for a single person, and $16,135 for a family of two.

Money Required for the Canada Experience Class Visa

The Canadian Experience Class (CEC) is for people who have already gained work experience in Canada, and it has a lower settlement funds requirement than the FSWP. The settlement funds requirement for the CEC is $9,760 for a single person, and $12,471 for a family of two.

Settlement Funds for the Provincial Nominee Program

If you are immigrating to Canada through a Provincial Nominee Program (PNP) in 2023, the settlement funds requirement will depend on the specific program and the province you plan to settle in.

For example, the settlement funds requirement for the Manitoba PNP is $10,000 for a single person, and $15,000 for a family of two, while the settlement funds requirement for the Quebec Skilled Worker Program is $2,500 for a single person, and $3,125 for a family of two.

Is it Just the Settlement Money I Need to Immigrate to Canada?

The settlement funds requirement is not the only cost associated with immigrating to Canada. You will also need to pay for things like:

• immigration application fees
• medical examinations
• language tests
• travel expenses

Depending on your immigration pathway, you will also need to pay additional fees, such as the Right of Permanent Residence Fee, which is currently $500 per person.

You will also need to consider the cost of living in the area where you plan to settle. This varies greatly depending on the province, city or town. The cost of living is highest in the major cities like Toronto, Montreal, and Vancouver, and it is lower in smaller towns and rural areas.

In summary, the amount of money you will need to immigrate to Canada in 2023 will depend on a variety of factors including:

• your immigration category
• the province you plan to settle in
• the size of your family

You will need to have enough money to support yourself and your family for at least six months after you arrive in Canada. You will also need to pay for immigration application fees, medical examinations, language tests, and travel expenses.

List of Other Costs to Consider When Immigrating to Canada in 2023

Costs Associated with Express Entry for Canada Immigration

While submitting your application to the Express Entry pool is free, there are two documents that you will need in order to make an Express Entry application that do have a cost associated with them.

Language Testing Costs

You will need to take an English or French test and each language test costs around $300 CAD.

You will also need an Educational Credential Assessment (ECA). This assessment will determine your educational qualifications compared to Canadian standards.

If your spouse has post secondary education of 2 years or more, they could also obtain an Educational Credential Assessment, but it is not required. The cost of an Educational Credential Assessment is $200 CAD.

These are the only two documents that you will need to pay for in order to submit your Express Entry application for Permanent Residency in Canada.

Expected Costs After Receiving an Invitation to Apply for Canadian Permanent Residence

After receiving an Invitation to Apply (ITA) for Permanent Residency in Canada there are more financial costs that will be incurred in order to confirm your eligibility for Permanent Residency.

These costs include:

• biometrics
• medical examination fees
• police clearance certificates

Biometrics Cost

You will need to provide your biometrics to the Government of Canada. The cost of biometrics is typically between $85 to $100 CAD per person.

Medical Examination Fees

Each person on your application will need to undergo a medical examination. The average cost of medical exam fees is between $450 to $650 CAD per adult and $250 to $375 CAD per child.

If any of your immediate family members have serious medical conditions then further tests will be required and these will need to be paid for.

Police Clearance Certificates

You will need to obtain police clearance certificates for each country you have lived in for more than 6 months. The average cost of a police clearance certificate is between $100 to $300 per country.

Canadian Government Fees

The Canadian Government fees for Permanent Residency are broken down into two parts: the first is the actual visa processing fee for your Permanent Residency visa, and the second is the “Right of Permanent Residency” fee.

These fees are paid at the time when you submit your documents to accept your invitation to apply for Permanent Residency.

The visa processing fee is $825 CAD for the primary applicant and their spouse or partner, and $225 CAD for each dependent child (under 22 years of age).

The “Right of Permanent Residency” fee of $500 CAD is only payable by the primary applicant and their spouse and there is no “Right of Permanent Residency” fee for dependent children.

Schedule of Financial Costs Associated with Immigrating to Canada via Express Entry

• Language tests: Average cost – $300
• Educational Credential Assessment (ECA): Average cost – $200
• Biometrics: $85/person
• Medical examination fees: average cost – $450/adult & $250/child
• Police clearance certificates: average cost – $100/country
• Canada PR visa fee for the primary applicant and their spouse of $825 CAD each and a Canada PR fee of $225 CAD for each dependent child under 22 years.
• The “Right to Permanent Residency” fee of $500 CAD