If you have been thinking about applying for a Canada PR Visa, one of the most primary things that you need to do is to provide documentation that you have enough financial resources to be able to maintain yourself and your family, in a comfortable manner while you are living in Canada. To this end, you need to submit proof, that you have enough funds that will be able to support your household during the time of your employment search, post your arrival. The minimum amount that is required for you to show in your application is known as Canada Immigration Proof of Funds, and it varies from person to person depending upon the size of your family.
Proof of Funds (POF), is generally a document that lets the government know that you have the financial capability of carrying out transactions. The following are acceptable documentation of funds that can be used for Canada PR:
Here is the table showing how much is the general cost of funds required in Canadian dollars depending upon the number of people you have in your household.
Number of Persons in Household |
Funds Required (in Canadian dollars) |
One person |
$12,960 |
Two people |
$16,935 |
Three people |
$19,836 |
Four people |
$24,083 |
Five people |
$27,315 |
Six people |
$30,806 |
Seven people |
$34,299 |
For each additional family member |
$3,492 |
A few pointers that you need to keep in mind are:
So there you have it, all you need to know about POF and how to go about it for your Canada PR.
If you are planning to apply for Canada PR Visa then you must be aware about the requirement of proof of funds. Here we have mentioned required documents for proof of funds. For further guidance get in touch with us.