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How much money do I need to Come to Canada?

April 27, 2020BY StepWise Immigration

In general, the Citizenship and Immigration Canada has defined the settlement funds requirement. According to CIC, they safely assume that new immigrants need funds to support themselves for first 6 months. Assumption is that the new Canadian PR’s would get jobs within first six months and will start earning a living in Canada within this time frame. Hence, they have given a grid based on size of family. Which is given below:

Number of
family members
Funds required
(in Canadian dollars)
1 $12,960
2 $16,135
3 $19,836
4 $24,083
5 $27,315
6 $30,806
7 $34,29 per additional

However, apart from this there are other expenses involved. The summary of same is given below:

Step 1 Education credential assessment for the couple required following expense:

  1. Fee for ECA credential assessment: Around 300 CAD per person so total is 600 CAD
  2. Getting transcripts varies from college to college, it varies from 50 CAD to 500 CAD.
  3. Cost of Courier to Ontario is roughly 100 CAD.

Step 2 IELTS General

  1. IELTS exam cost is about 300 CAD. For couple to write this exam costs roughly 600 CAD.
  2. IELTS preparation cost depends on the current language ability of the individual. If the individual wants to become a competitive candidate and is willing to work on his language ability, he or she may need 3 months to 6 months of preparation. General institutes charge around 250-500 CAD per month to prepare applicant and help him improve his language scores. You may would like to include this cost into your calculation.

Step 3 Hiring an Immigration Consultant

  1. Its worth to hire a genuine and honest professional to help you submit your application for immigration. The cost of hiring a consultant varies from 2000 CAD to 5000 CAD.

Step 4 Application fee CIC Canada (Government processing fee and Landing Fee)

  1. Processing fee is CAD 550 Per adult and 150 CAD per dependent child
  2. Landing Fee or RPRF fee (Right of Permanent residence fee) is 490 CAD per Adult
  3. Biometric Fee is 170 CAD for the family