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.
All applicants should have, at minimum, $10,000 plus $2,000 per each accompanying family member (in Canadian dollars). As an exception, applicants who provide an Express Entry profile and verification code must demonstrate the required amount of funds set by Immigration, Refugees, and Citizenship Canada (IRCC) displayed in the table on this page.
Skilled workers applying on the basis of ongoing employment in Manitoba must still provide documented proof of settlement funds in their name. However, the MPNP will consider your current income, so you may not necessarily be required to meet the minimum required amount of $10,000 plus $2,000 per accompanying family member.
Proof of funds
To demonstrate that you have sufficient funds, you must get official letters from any financial institutions where you are keeping money.
- 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; and
- include, for each current bank and investment account, the
- account numbers,
- date each account was opened,
- current balance of each account, and
- average balance for the past 6 months.
In addition, you must submit copies of three months of bank statements and certificates of deposit demonstrating a clear financial history of sufficient and transferable settlement funds (liquid assets) in your name and/or the name of your spouse or common-law partner, and, if applicable:
- copies of securities and other investments; and
- proof of ownership of real estate, including a property valuation; and
- proof of ownership of other assets (not including personal items such as jewelry, furniture or vehicles) owned by the applicant or spouse, including a fair market value assessment.
If there are currency controls in your country of residence, the MPNP may require proof of transferability.