Settlement funds requirement updated for Canada Express Entry programs

There is good news for skilled workers who are interested in migrating to Australia for a better work life balance, a pollution free environment and a secure place to settle along with their family members.  To aid this movement, the federal government of Canada has increased the amount of funds that is needed by skilled workers in order to make their big move to any of the Canadian provinces.  

Prospective applicants who want to permanently reside in Canada, need to show that they hold sufficient funds or savings in order to be eligible without a job offer in the Canada Express Entry program managed economic class immigration programs of Federal Skilled Worker Program (FSWP) or Federal Skilled Trades Program (FSTP) in the new year of 2020.

The settlement funds are not so necessary for those applying under the Canadian Experience Class (CEC), and those with a valid job offer The amount of settlement funds depends on the size of your family, and a proof of whether you will be able to financially sustain yourself and them, till the time you get a suitable job.

As per the Immigration, Refugees, and Citizenship Canada (IRCC), you can include the following members whiling filing out your Canada express entry process application:

·  Principal applicant

·  Spouse or common law partner

·  Their dependent children

·  The dependent children of their spouse

For this spouse and dependent children must also be mentioned and their particulars filled out in the application, even if they are already permanent residents of Canada or are citizens of Canada. These particulars must also be filled out, even if your spouse or dependent children are not coming along with you to Canada during that time.

Thanks to Express Entry Draws, a total of 85,300 invitations to apply for Canadian permanent residence (ITAs) were issued for permanent residence, making it a highly successful and sought-after pathways for Canadian immigrations.  This was recorded as the second-highest invitation total since the Canada Express Entry system was launched back in 2015.

 This pathway was introduced to operate the Express entry pool of prospective and interested candidates for Canada’s three Federal High-Skilled immigration programs, the Federal Skilled Worker Class, Federal Skilled Trades Class and Canadian Experience Class as well as a section of its Provincial Nominee Program (PNP).

If we review the year of 2019, then a total of 26 Express entry draws from the pool were conducted by the federal immigration ministry of Canada called the Immigration, Refugees and Citizenship Canada (IRCC). Out of this 24 of them comprised of all Express Entry-managed programs, that ranged right from 3,200 to 3,900 ITAs.

ITAs are mainly issued to candidates based on their score on the Comprehensive Ranking System (CRS), that in turn is based on the factors of age, education, skilled work experience and proficiency in English or French, among other additional factors.

For more information on Canada Express Entry, and its performance in terms of permanent residence, you can get in touch with our certified immigration consultants who are always ready to help and assist you in your immigration journey to Canada.Want to update on Canada Immigration latest News ?.You can visit our Official Website.