✅Starting May 28, 2024, the Canadian government has introduced updated proof of funds requirements for Express Entry permanent residency applicants. These changes aim to ensure immigrants have the financial resources necessary for successful settlement in Canada. The minimum settlement fund amounts, now based on 50% of Canada's Low-Income Cut-Off (LICO), vary depending on family size. Applicants must update their settlement fund information by May 27, 2024. Exceptions apply to those with valid job offers or under the Canadian Experience Class (CEC). Funds must be readily available and not borrowed. Official bank letters are required for verification. Source: www.mwakilishi.com . 𝐑𝐞𝐚𝐥 𝐄𝐬𝐭𝐚𝐭𝐞 𝐋𝐚𝐰 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐋𝐚𝐰 𝐂𝐫𝐢𝐦𝐢𝐧𝐚𝐥 𝐋𝐚𝐰 𝐒𝐢𝐦𝐦𝐢 𝐂𝐡𝐚𝐜𝐤𝐨 𝐏𝐫𝐢𝐧𝐜𝐢𝐩𝐚𝐥 𝐋𝐚𝐰𝐲𝐞𝐫, 𝐂𝐡𝐚𝐜𝐤𝐨 𝐋𝐚𝐰 📲+𝟏 𝟒𝟏𝟔-𝟓𝟎𝟗-𝟗𝟓𝟎𝟖 📧𝐬𝐢𝐦𝐦𝐢@𝐜𝐡𝐚𝐜𝐤𝐨𝐥𝐚𝐰.𝐜𝐚 @chackolaw.ca . . #ExpressEntry #CanadaImmigration #ProofOfFunds #SettlementFunds #IRCC #PermanentResidency #NewRequirements #CEC #FSWP #mnm #malayalisnearmeapp #MalayalisNearMe #ImmigrationUpdate #ImmigrationNews #CanadaImmigration

🍁Canadian Immigration Makes Changes to Express Entry Proof of Funds Requirements🍁 ✅The Immigration, Refugees, and Citizenship Canada (IRCC) has recently updated the proof of funds requirement for the Express Entry system. The new changes will apply to all candidates applying for permanent residence under the Federal Skilled Worker Program, Federal Skilled Trades Program, and Canadian Experience Class. Previously, candidates were required to show proof of funds equal to or greater than the minimum necessary amount based on family size. However, with the new changes, the minimum required amount will now be based on the median income of the candidate's province of residence. For example, candidates residing in Quebec will need to provide proof of funds amounting to CAD $3,366 for a single applicant, while candidates residing in Ontario will need to provide CAD $3,492. The updated minimum required amounts for other provinces and territories can be found on the IRCC website. It is important to note that the updated minimum required amount will only apply to candidates who receive an Invitation to Apply (ITA) on or after May 2, 2023. Candidates who received an ITA before this date will still be required to meet the previous proof of funds requirements. Overall, these changes are expected to make it easier for skilled workers to immigrate to Canada through the Express Entry system, as the new minimum required amounts are lower than the previous requirements. . . Source: https://www.ctvnews.ca/ . . #ExpressEntry #CanadaImmigration #PermanentResidence #SkilledWorkers #ProofOfFunds #immigrationupdate #Canada #PNP #Immigrationnews #canadaPR #freeimmigrationupdate #candadianmallu #mnm #malayalisnearmeapp