Settlement Funds for Canada
Understanding the financial requirements for Canadian immigration and how to prove your settlement funds.
What Are Settlement Funds?
Settlement funds are the financial resources required by Immigration, Refugees and Citizenship Canada (IRCC) to demonstrate that you can support yourself and your family during the initial settlement period in Canada. These funds ensure you won't rely on government assistance immediately after arrival.
The amount required varies based on family size and destination province. Funds must be in your name or your spouse's/common-law partner's name, and readily available for use.
Proper documentation and proof of these funds is crucial for your immigration application approval. We help you understand exactly what funds you need and how to document them correctly.
Settlement Fund Requirements
Minimum funds required based on family size (effective 2024)
1 Person
$14,690
For single applicants
2 People
$18,288
For couples or families of 2
3 People
$22,664
For families of 3
4 People
$27,520
For families of 4
5 People
$31,875
For families of 5
6 People
$36,229
For families of 6
For each additional family member: +$5,903
*Amounts are in Canadian dollars and subject to change. Check IRCC website for latest requirements.
Acceptable Sources of Funds
What counts as settlement funds
Cash
Money in bank accounts, savings accounts, or certificates of deposit.
Investments
Stocks, bonds, mutual funds, and other investment vehicles.
Real Estate
Equity in property that can be sold within 6 months.
Loans
Verified loans from financial institutions or government programs.
Trust Funds
Funds held in trust that are accessible to you.
Pensions
Retirement savings and pension funds.
Need Help with Settlement Funds?
Our financial experts can help you assess your settlement fund requirements and prepare the necessary documentation for your immigration application.
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