The government of Canada has updated the settlement funds requirement for applicants under the Federal Skilled Worker Class (FSWC) and Federal Skilled Trades Class (FSTC). Candidates who receive an Invitation to Apply (ITA) under the Canadian Experience Class (CEC) are not required to show settlement funds. In addition, candidates authorized to work in Canada and who have a valid job offer from an employer in Canada are not subject to the settlement funds requirement.
The increase in the settlement funds is marginal, at just over one percent for each family size. However, it is possible that this increase could affect some candidates’ eligibility. Consequently, all candidates are encouraged to double-check the new figures to ensure that they have the required funds. The new settlement funds requirement only applies to applications submitted as of January 27, 2017. Applications already submitted will be assessed according to the previous requirements.
Settlement funds requirement, as of January 27, 2017
The required settlement funds must be equal to or greater than the sums listed below for each family size. All sums are in Canadian dollars.
|Number of family members
|7 or more