How Much Money You Will Need To Move To Canada?

A lot of times, people tend to ask how they can move to Canada without money. I mean, some ask whether or not, they can move to Canada for free. The straight forward answer is, it’s not possible to legally immigrate to Canada without money. Of course, you can decide to immigrate illegally but that’s not a wise thing to do. It could backfire and lead to deportation.

Now, this money to move to canada isn’t even small. Depending on how you perceive money, it can be expensive or affordable.

Thankfully, in this post, we will be giving you insight on how much money you’d need to move to Canada. Do bare in mind that it’s often required that you submit your bank statement when applying to move to Canada.

how much to move to canada

Now, before you get frightened by that, you should read the rest of this article. That way, you have an idea of what you are up against.

How Much Money You Will Need To Move To Canada

Well, except you have employment already in Canada, it’s important you prove that you have enough funds for your settlement and survival in Canada.

Of course, if you are being sponsored, you wouldn’t have to worry so much about this. Whoever is responsible for you moving to Canada, will have to take care of that.

If however, you are not being sponsored and you want to move there on your own or with family, below is the estimate of what you’d need.

To move to Canada, you must prove you have at least $12,669. There’s an additional $3,414 for each person depending on you. So let’s say you have 2 more persons going with you and depending on you, you will need $3,414 x 2 including the $12,669. Now, that’s how much settlement funds you’d need to move to Canada.

Please bear in mind that this is just an estimate at this time. Besides, price varies depending on where you want to stay in Canada and family size.

Different provinces in Canada can have different requirement and different cost of living. However, as a baseline, here’s how much money you should target having when deciding to move to Canada:

  • $25,000 for one adult moving alone
  • $30,000 for a couple moving together
  • $33,000 for a couple and a child under 10 years all moving together
  • $35,000 for a couple with a child over 10 years of age
  • $1000 for each additional child under the age of 10
  • $2000 for every child above the age of 10.

Again these are just baselines and should be used solely as a guideline and not precise figures.

The monies stated above however, should be enough to provide you basic breathing apartment to settle into in Canada before you find a job and start making income.

Depending on your managerial skills, the money should be enough to see you through a period of 4 to 6 months with basic living expenses.

Now, I understand you’d like to have an idea as to how much basic things can be in Canada. We’ve got you.

For that, we created a separate post. Please check basic cost of living in Canada for an in-depth idea on the cost of basic things in Canada.

Hope this was helpful? If you have further questions or concerns, please do not hesitate to let us know using the comment session.

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