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July 5, 2021

Express Entry Proof of Funds updated by Canada to immigrate

Express Entry Proof of Funds updated by Canada to immigrate: On 5th July, 2021 Canada updated the Proof of Funds amount that are needed to immigrate to Canada. Moreover, the update has been made to the candidates who are seeking to apply in Federal Skilled Worker Program (FSWP) and Federal Skilled Trades Program (FSTP). However, this does not apply to candidates who have a valid job offer in Canada. Also, you must ensure yours eligibility before travelling to Canada.

Express Entry Proof of Funds

Moreover, FSTP and FSWP candidates who do not have Canadian Job offers will be required to have a necessary amount to show as funds in order to remain eligible:

Number of family members Funds required in CAD
1 $13,213
2 $16,449
3 $20,222
4 $24,553
5 $27,847
6 $31,407
7 $34,967
Each additional family member $3,560

Candidates whose proof of fund document does not confirm the minimum amount must update the Express Entry profile. Therefore, the update must be updated by 15th July, 2021. This update will not change the date & time IRCC received your profile. So, rank will be kept for tie breaker.

Express Entry proof of funds

As this update has been made, assumption can be made that IRCC is going to announce an Express Entry Draw for FSWP and FSTP in 2021.

IRCC initially quit holding all-program draws after Canada previously went into lockdown in March 2020. All-program Express Entry draws continued in July, 2020. There was additionally a FSTP attract August. In view of this point of reference, and the refreshed confirmation of-reserves, this year isn’t finishing without an all-program Express Entry draw.

What can be the Express Entry proof of fund?

Once you are invited to apply for PR in Canada, candidate will be required a written proof to show that enough money is present to settle in Canada. Official letters will be needed by the financial institutions or bank to prove the proof of funds. The letter needed must:

  • be printed on the financial institution’s letterhead;
  • consists of institution’s address, phone number, and email;
  • have your name;
  • show all outstanding debts such as credit card debts and loans;
  • include, for each bank and investment account, the actual numbers, date each account was opened, current balance of each account, and the average balance for the past six months.

Assets should be promptly accessible to you when you apply and when IRCC issues you a lasting residency visa. Which means they can’t be as value. What’s more, you can’t acquire them from someone else.

Eligibility to be fully Vaccinated Traveler

Below are some criteria which ensure your eligibility for fully vaccinated traveler:

  • Must have received recommended dose of COVID-19 vaccine at least 14 days before entering to Canada.
  • Must have taken the approved vaccine that has been manufactured by approved companies such as
    • Pfizer (Comirnaty, tozinameran, BNT162b2)
    • Moderna (mRNA-1273)
    • AstraZeneca (Vaxzevria, AZD1222, Covishield)
    • Janssen (Johnson & Johnson) – single dose
  • Travelers must be vaccinated in any country that is using the vaccine from approved list.
  • Vaccination proof must be in either English or French. If the language is different then the certified translation must be provided.

Please check the below vaccine that are still not approved:

  • Bharat Biotech (Covaxin, BBV152 A, B, C)
  • Cansino (Convidecia, Ad5-nCoV)
  • Gamalaya (Sputnik V, Gam-Covid-Vac)
  • Sinopharm (BBIBP-CorV, Sinopharm-Wuhan)
  • Sinovac (CoronaVac, PiCoVacc)
  • Vector Institute (EpiVacCorona)
  • Other

Contact info@vlinkimmigration.com if you are looking for a licensed ICCRC Immigration consultant to handle and represent your application.

We hope you like our article on Express Entry Proof of Funds updated by Canada to immigrate. In case you have any queries related to the immigration process to Canada, please feel free to contact us. Our best immigration lawyers in Canada will assess your profile and give you the best suitable options.

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