What should I budget before I immigrate to Canada?

Overall, immigrating to Canada is one of the most affordable countries to which to immigrate.  This takes in to account many factors such as (but not limited to) Education, Healthcare and living costs.

The “settlement funds” required to immigrate to Canada by the Immigration, Refugee and Citizenship Canada (IRCC) change from time to time, but let’s take a look as of August 2020 so that we have a general idea and keep in mind as well that the values below do NOT include application or service fees.

IRCC Settlement funds for Canadian Immigrants (Express Entry)

  • Single applicant (no spouse, no children, no dependants:     C$12,960
  • A Couple (no children, no dependants):                                        C$16,135
  • Each additional child or dependant:                                                 C$3,492

Please also note that if you immigrate to Canada but you do not immigrate with your other family member(s) (for example if they will be moving at a later time) the required IRCC settlement savings must still be available at the time of your immigration.

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