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.