Proof of funds

Settlement funds

You must prove that you have enough money to support yourself and your family after you get to Canada, unless you’re already working in Canada.

Document requirements

For proof, you must get official letters from any bank or financial institution where you keep funds.

The letter(s) must

• be printed on the financial institution’s letterhead
• include their contact information (address, telephone number, and email address)
• include your name
• list outstanding debts such as credit card debts and loans
• include, for each current bank and investment account, the
  • account number
  • date the account was opened
  • current balance of the account
  • average balance for the past 6 months

Your proof can be 1 or more of the following:

• bank account statements
• documents that show real property or other investments (such as stocks, bonds, debentures, or treasury bills)
• documents that guarantee payment of a set amount of money payable to you (such as banker’s drafts, cheques, traveller’s cheques or money orders)

How much money you need

The amount of money you need to support your family is based on the size of your family.

To calculate the size of your family, include

• yourself
• your spouse or common-law partner
• your dependent children
• your spouse or common-law partner’s dependent children

You must include your spouse or common-law partner and all dependent children, even if they’re

• Canadian citizens or permanent residents
• not coming to Canada with you

The table below shows the minimum amount you need to immigrate to Canada as of April 25, 2023.

What we accept as proof

Your funds must be available to you both when

• you apply
• we issue you a permanent resident visa (if we approve your application)

You must prove to us that you can legally access the money when you arrive.

For example, this means that

• you can't use equity on real property as proof of settlement funds
• you can’t borrow this money from another person

You must be able to use this money to pay for your family’s costs of living (even if they aren’t coming with you).

• If your spouse is coming with you, you can count money you have together in a joint account.
• You may be able to count money in an account under your spouse’s name only, but you must prove you have access to the money.

For proof, you must get official letters from any banks or financial institutions where you have an account.

These letter(s) must be printed on the financial institution’s letterhead and include

• the bank or institution’s contact information (address, telephone number and email address)
• your name
• your outstanding debts (such as credit card debts and loans)
• these details for each current banking and investment account you have with them
  • account numbers
  • date each account was opened
  • current account balances
  • average balance over the past 6 months