Showing posts with label #fundsforpr. Show all posts
Showing posts with label #fundsforpr. Show all posts

Total cost of applying for PR for Canada Express Entry


The cost of applying for PR via express entry from India is as under:

INR 5,000 - Getting your transcripts printed, attested and shipped to World Education Services (WES / IQAS) from your university.

INR 13,600 - WES Basic Education Credential Assessment (ECA) - CAD 200. If you choose international courier service (UPS) add CAD 85. (per person)

INR 12,500 - Registering for IELTS Exam

Applying to Express Entry is free. Once you receive the ITA, you’ll need to start preparing the necessary documents that need to be uploaded:

INR 8,500 - Medical Examination per person (Apollo Hospital)

INR 500 - Police Clearance Certificate from PSK (per person)

Proof of Funds from your Bank: Free

INR 150–200 - Digital Photo (per person)

While you are submitting your e-APR application post-ITA, you’ll need to pay

INR 26,250 - Processing fee: CAD 550 per person

INR 23,400 - Right of Permanent Residence Fee (RPRF): CAD 490 per person ~ (Note: this can also be paid when you are landing in Canada)

INR 7160 - Dependent Child: CAD 150 per child

INR 2400 - When you land for the first time you don’t need to pay for your PR card.

Total: Roughly INR 91,000 per person. If you are married without kids, then add INR 60,000.
Note that you also need to show proof of funds when you receive your invitation to apply. Check the link and save the money respective to your family configuration. These funds are for proof only. You don’t have to give these to CIC authorities. This can mean showing savings from INR 6.95 lakhs for an individual, to INR 12.8 lakhs for a family of four, and more.


Disclaimer: Above facts / data is not the view of blogger, it is based on the study / actual discussion with concerned persons.
Please click on link to see our other blogs on Canada and if you are interested to move to Canada please contact us 

Total money required for Canadian PR process and acceptable sources of funds

Federal skilled worker applicants must demonstrate that they will have sufficient money to support themselves and their family once they immigrate to Canada. Applicants must have enough money to pay the costs of living for both themselves and their family even if the other family members are not moving to Canada. 

















The minimum amount of funds that you are required to show is presented in the table below:

Number of 
family members

Required amount in 2019
(in Canadian dollars)
1
$12,669
2
$15,772
3
$19,390
4
$23,542
5
$26,701
6
$30,114
7
$33,528

Each additional
family member
$3,414


What can I declare as a Proof of Funds?

Acceptable proof of funds is:

  1. Bank accounts in your name or the name of your accompanying spouse/common-law partner
  2. Bank fixed deposits in your name or the name of your accompanying spouse/common-law partner.

Following type of bank accounts are not acceptable or not to be used:
  1. Bank accounts in someone else’s name
  2. Bank accounts which are joint in your name and someone else (other than your accompanying spouse/common-law partner)
  3. Bank accounts in the name of your spouse who is not accompanying you to Canada
  4. Property valuations
  5. Vehicle valuations
  6. Jewelry valuations
  7. Mutual funds can be used as proof of funds but it is not the most conventional way of showing your proof of funds. You may get inquiries and your file may be delayed. Please try to withdraw the Mutual Funds at the time of your file submission and add them as a Fixed Deposit in your bank.


The exact values that should be followed are available on the CIC Proof of Funds page. Please note that you have to show these fund and need not have to give to anybody for your migration process.


What do I need to bring to Canada with me?

You are not required to carry all your funds in cash when you arrive in Canada. You are, however, required to show documentary evidence that you have the funds available (in bank accounts or fixed deposits), and that can be transferred to Canada.


Please Note: Canadian customs regulations require you to declare if you are bringing more than C$10,000 into Canada. More on CIC Proof of Funds page


Do I need to show 6 months balance?

CIC does not require you to show a six months balance. You only need to show the currently available balance in your account (e.g. using a bank statement or a bank certificate).

However, further down the line your local Visa Office will most probably request you to submit bank statements for the past 4-6 months. Any large influx or outflow of cash will definitely raise a red flag.



When is a Proof of Funds (POF) not required?

If you have arranged employment in Canada, you do not have to meet these financial requirements. Arranged employment means that you have an offer of employment from an employer in Canada. You must be either currently working in that employment on a work permit in Canada, or have been issued a labour market opinion has must have been provided by the Human Resources and Skills Development Canada (HRSDC).

In order to be exempt from the minimum funds requirement, the offer of employment must be genuine, the employment must not part-time or seasonal, the wages offered must be consistent with the prevailing wage rate for the occupation, and the working conditions must meet generally accepted Canadian standards




 Disclaimer: Above facts / data is not the view of blogger, it is based on the study / actual discussion with concerned persons.
Please click on link to see our other blogs on Canada and if you are interested to move to Canada please contact us