Canada released the new figures for the funds required for some immigration categories.
Money by Kschneider 2991
On January 2, 2020, Canada released the new figures for the funds required for two categories of the Express Entry.
Each year Canada modifies the figures of the available funds that certain categories of immigrants must demonstrate when they make an immigration application. If we analyze the last three years, we can see that the amount stipulated for the current year is considerably higher than in the previous years. This information is paramount for all those people with an active profile in the Express Entry pool as it can significantly influence their permanence in it.
According to the new information on the official website of the Federal Government of Canada, the amount of personal funds available for immigrants wishing to enter Canada has been increased through the categories of the Federal Skilled Workers Program and Federal Skilled Trades Program. People who migrate through one of these two categories do not need to prove that they have a job offer in Canada; However, the Federal Government requires them to demonstrate that they have enough savings to support themselves in the country after their arrival. Some provincial nomination programs also take these figures as a reference.
People with a valid job offer in Canada and those who immigrate through the category of Canadian Experience Class do not need to prove that they have such funds.
Immigration, Refugees and Citizenship Canada establishes that in order to know the amount of funds necessary for such migratory categories, the number of family members must be taken into account, whether they are included in the application or not, whether they possess citizenship or permanent residence in Canada or not. The family members that can be included in the application are the following: the main applicant, who counts as a member, the spouse or common-law partner, their minor children and stepchildren, and their adopted children.
The new funds for 2020 are shown below
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