Applicants Applying for Canada PNP Need to Have Sufficient Balance

Canada is emerged out of wondering immigration destination in order to work and settle either on a temporary basis or on a permanent basis. The maple leaf country has planned to invite around one million skilled applicants in the next three years to take part in a growing economy. Canada PNP is known to be a suitable immigration pathway if an applicant aspires to move in a particular province of Canada.

Although Canada offers wider immigration options, if any province entices you, you can opt for Canada PNP to become eligible for that specific province. Before applying under Canada provincial nominee program, you must need to provide your bank statement and also show enough funds that must be three months older when you apply under the PNP program.

Do you want to know about bank statements and proof of funds for Canada PNP?

Proof of funds is how you need to show to Canada that you have a sufficient amount of money to stay in Canada. If you are being invited to apply, you must be given written evidence that you have this money. Proof of funds is one of the basic Canada PNP requirements under the Federal Skilled Worker Program (FSWP) and from Federal Skilled Trade Program (FSTP).

However, you don’t need to show proof if you are applying from the Canadian Experience Class (CEC). The funds required for a number of applicants are listed out in the following:

  • For one family member, $12960 will be required for proof of funds.
  • If two family members applying for Canada PNP, $16135 will be funds requirement.
  • $19836 is the funds requirements for three family members.
  • If four members are willing to apply under Canada PNP, the funds required are to show is $24083.
  • For five family members, $27315 will be required as proof of funds.
  • For six family members, around $30806 will be provided as proof of funds.
  • If you have seven family members to apply for Canada PNP, $34299 is the funds required.
  • For each additional family member in your family, $3492 will be required for funds.

Thus, you can see that proof of funds varies from the number of family members applying to live and work in Canada. Funds must be readily available to you. You don’t use the equity on real property to show bank statements.

 Find guidance for  Saskatchewan PNP

After fulfilling all the Canada PNP requirements, you must be able to pay the costs of money on part of your family members if they are moving to Canada along with you. If your spouse is coming with you, you can count the money you have together in a joint account. For proof, you must obtain official letters from any recognized banks or financial institutions where you have kept your money. This letter must fulfill as below:

  • Must be printed on financial institutions letterhead.
  • Must include your contact information.
  • Must list your outstanding debts like your credit card debts and loans.
  • Must include account number, date of opening account, current balance, an average balance of past six months for each current bank and investment account.

If you are still in dilemma, you can connect with Aptech Global. Once you fill the online assessment form, one of our Canada PNP consultants will contact and reach you shortly.