Canada Announces Amount a Family of 2 Needs as Proof of Funds For Visa Application
- Canada disclosed the minimum amount a family of two must show in their bank account before a visa can be approved
- The required proof of funds figure is set in Canadian dollars, translating to a significant sum in naira
- The announcement is drawing attention among Nigerians considering relocating to Canada amid the ongoing japa wave
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Canada has officially stated the minimum proof of funds a family of two must demonstrate before securing approval to relocate to the country.
According to the Canadian government, a household of two persons is required to show at least $19,001 (N18,479,357) as evidence of sufficient financial capacity.
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What Canada's proof of funds requirement means
Proof of funds is a standard requirement in Canadian immigration processes, particularly for programmes such as Express Entry. Applicants must show that they have enough money set aside to support themselves and any accompanying family members after arriving in Canada, without relying on social assistance.
The requirement is not a fee paid to the Canadian government but rather a demonstration that the applicant holds the funds in a readily accessible account. Immigration authorities typically ask for recent bank statements or other official financial documents as evidence.
Canada: Why this matters for Nigerian applicants
For many Nigerians eyeing Canada as a destination amid the country's ongoing economic challenges, the threshold is a significant benchmark. Raising close to N18.5 million in verifiable savings is a considerable hurdle, particularly given current inflation levels and the weakened naira.
The proof of funds requirement varies depending on family size. A single applicant faces a lower threshold, while larger families are required to demonstrate progressively higher amounts. A family of two sits at $19,001, placing the bar well above what many aspiring emigrants may have readily available.
Anyone considering a Canadian immigration application is advised to consult the official Immigration, Refugees and Citizenship Canada website for the most current figures, as the amounts are reviewed periodically and subject to change.
Lady who moved to Canada clarifies amount
Meanwhile, Legit.ng recently reported that a Nigerian lady who relocated to Canada had shared the amount she presented as proof of funds during her immigration application.
She explained that the money was not paid to the Canadian government or an immigration agency but was simply kept in her account to show that she had the required funds.
Source: Legit.ng
