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Varinder Singh
Tribune News Service
Jalandhar, January 20
In what may come as a shock to those looking for greener pastures in Canada, the Government of Canada has slightly enhanced its reserve settlement funds (show money) for the permanent residence (PR) category. All PR aspirants will now have to show more reserve funds to the Canadian authorities at the time of filing their applications as well as during landing in Canada.
The Canadian authorities have also urged the Express Entry candidates to ensure that their profiles are updated and must reflect their financial position change vis-à-vis fund requirement. The change involves an increase in the requisite minimum settlement funds (known as show money) by over 1.5 per cent for each family.
For example, if a single person lands unaccompanied in Canada, he or she will have to show settlement funds to the tune of $12,669 ( Canadian) instead of the earlier requirement of $12,474.
The Canadian immigration norms stipulate that all federal skilled workers and federal skilled trades class aspirants or candidates must show a proof of settlement funds. The changed norms will have a huge impact on Punjabis as they migrate in thousands to Canada every year. If a family of five is migrating to and landing in Canada, it will have to show an additional $410 dollars (approximately Rs 22,025.2 as per today’s exchange rates) according to the new rules.
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