Settlement funds are sufficient and available funds that economic immigrants must prove they have to settle in Canada. Funds must be readily available to you. You cannot borrow this money from another person.

The amount of money you need to support your family depends on the pathway you are applying to and the size of your family. Please see the Immigration, Refugees and Citizenship Canada (IRCC) website for the most recent table showing how much money you need to settle in Canada. These amounts are based on 50 per cent of the low income cut-off totals and are updated every year.

Proof of funds

You must get official letters from any financial institutions where you are keeping money. You must include a letter from the financial institution and at least three months of financial statements (i.e., a list of your banking transactions).

Letter(s) must:

• be printed on the financial institution's letterhead
• include their contact information (address, telephone number and email address)
• include your name
• list outstanding debts such as credit card debts and loans
• include, for each current bank and investment account, the
  • account numbers
  • date each account was opened
  • current balance of each account
  • average balance for the past 6 months