Proof Of Funds for Canada PR

What is Proof of Funds?

Proof of funds are required to support yourself in Canada during your first month of stay in Canada in other terms uttered as Show money or proof of funds

Potential Immigrants looking to settle down in Canada under PR must prove to the Canadian government that they have sufficient funds to take care of them and their family in the initial stages of reaching Canada. Proof of Funds are also called Settlement Funds or Show Money.

In which stage of the Canada PR Process proof of funds needs to be shown?

Proof of Funds is mandatory for Canada PR process. But during the initial stages of the process proof of funds is not necessary. Once we receive ITA (Invitation To Apply) from the Canadian Government we must submit a Proof of funds Document along with other documents to be verified by the government. On an Approximation we might require proof of funds in 6 to 8 months of the process.

How many Months old should my bank account be for Proof of funds Canada?

Your Bank account must be at-least 6 months old.

In whose name the bank account should be for Canada PR?

The bank account must be in either primary applicant or secondary applicant name Joint account within primary and Secondary applicant is also accepted.

Check Your Visa Cost

No. of Family Members	Funds required in 2024 ($CAD)	Funds required in 2024 (INR) (1 CAD = 60 INR) approx.
1	$14,690	8,93,345
2	$18,288	11,12,151
3	$22,483	13,67,263
4	$27,297	16,60,017
5	$30,690	18,66,357
6	$34,917	21,23,414
7	$38,875	23,64,113
If more than 7 members (additional charges for each member)	$3,958	2,40,699

How to show Proof of funds for Canada Study visa:

For SDS stream:

GIC is mandatory (Guaranteed Investment certificate). The student must have paid the 1st year tuition fee. A minimum of 20,635CAD$ must be shown.

For Non SDS stream:

Student can just pay 1st term tuition fee or Semester fee and can show around 3 to 4 lakhs on an average for their living expense in Canada.

My spouse is Accompanying me with Open work permit along with my study visa how can I show proof of funds?

Person Count	Funds Required in CAD $	Funds required for a month in CAD$
Student	20,635	1720
Additional member (Spouse or Child)	8000	666
Additional family member (Spouse or Child)	6000	500

About GreenTree Immigration

GreenTree Immigration (GTI) represents effectiveness, quality, and efficiency in its immigration services. We are committed to delivering world-class and quality immigration services through well-trained, expert, knowledgeable, and experienced professionals, backed by superior technology. We are one of the best and well-recognized immigration consultancy in Southern India. We are extending our wings overseas and have extended another branch in Canada.

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Frequently Asked Questions (FAQ)

Can I show FD as Proof of funds for Canada PR?

Yes, Fixed deposits are accepted as Proof of Funds for Canada. FD can be either in primary or secondary applicant name.

Can Proof of funds be shown in my home country (INR,USD,AUD) Currency?

Yes, Proof of funds can be shown in your home country bank account and currency however the equivalent CAD funds are required to be maintained

Can I immigrate to Canada without Proof of funds?

No, Proof of funds is mandatory you cannot immigrate to Canada without Proof of funds. However, qualifying under CEC stream, QNP (Quebec Nomination program) or Owing a Valid LMIA job offer can be proof of funds exempt.

Will Loans be accepted as Proof of Funds for Canada PR?

No, Loans are not considered and not accepted as Proof of funds for Canada PR.

Which banks in India can provide proof of funds Document/Letter for Canada PR?

All financial institutions registered under RBI and following RBI guidelines can provide Proof of funds letter/Document.

You must hold an account with your financial institution and it must be minimum 6 months old to be considered for Proof of funds document.

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