Are you moving to Toronto soon? Finding an apartment in Toronto for rent is a big priority. While there is much to plan before you move to Canada, finding housing is at the top of the list. And, it’s challenging when you are looking for a place to live while you are living abroad.
Toronto is a big city with many diverse neighbourhoods and apartments to rent. But, you want to find a place that is comfortable and fits your lifestyle. The following information will help you find an apartment in Toronto while you are living abroad!
Become familiar with Toronto’s housing market before you arrive.
Research Apartments for Rent in Toronto Before You Arrive
The first step to finding apartments for rent is to research the housing market. Your research will help you become familiar with:
Types of Apartments for Rent in Toronto
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There are many types of housing in Toronto to rent from apartments to condos to basement apartments to townhouses. You’ll also find studios, 1-bedroom, and 2- bedroom apartments. It’s important to determine what your needs are before you begin your search.
Cost of Rental Apartments in Toronto
The cost of rental housing in Toronto is quite expense in comparison to other cities in Canada. The amount of rent you pay depends on the type of housing you require, size, amenities, and location. Living in downtown Toronto is more expensive than living in the suburbs of Toronto. However, living downtown gives your more access to restaurants, entertainment, transportation, and much more.
It’s good to explore the cost to rent apartments before you arrive. That way you’ll know how much to budget for accommodation in Canada.
Yonge Street in downtown Toronto.
Price of Housing Based on Location
Living downtown Toronto is expensive. So, it’s important to consider if you want to settle downtown or in the suburbs where housing is less expensive. But, living downtown gives your access to more jobs, restaurants, entertainment, public transit, and much more.
Finding a rental apartment in Toronto close to work means you can avoid a lengthy commute.
Find a Short-Term Rental Apartment Before You Arrive
A common strategy for people looking for an apartment in Toronto when living abroad is to first find a short-term rental. This could mean staying with friends or family if you know people in the city. Or you could stay at a hotel or Airbnb. Staying in a short-term rental allows you to explore other Toronto neighbourhoods in person before you commit to a long-term rental.
Ideally, you want to live close to where you work. A short-term rental gives you the flexibility to move when you know where you will be working.
Finding the right neighbourhood is vital. The City of Toronto is quite dispersed, and depending on where you live and work, you may discover that it can take well over an hour to commute to work. If you want to avoid a lengthy commute, ideally you will rent an apartment that is relatively close to your job.
A challenge of looking for an apartment in Toronto online is knowing if a listing is legitimate or not. Listings can be deceiving. Units may not be as they appear in photos. There is no substitute for seeing a rental in person before you agree to lease it. So, your best best is to secure a short-term rental before you arrive in Canada.
Search for Toronto Apartments for Rent When You Arrive
The time to start your seach for a long-term apartment for rent in Toronto is when you arrive. That way you can visit the apartment in person, meet the landlord, and explore the neighbourhood to ensure it meets your needs. Finding a suitable and comfortable long-term rental is important, especially since you will likely have to sign a year-long lease.
Some people try to take advantage of new renters in the city, so tread carefully with online listings. Here are some tips to avoid rental scams:
If a listing seems too good to be true, it probably is.
Be careful with people who are pushy or trying to persuade you into entering a lease agreement quickly.
Never send money to someone online unless you are sure the listing is legitimate.
You can use a real estate agent to find different types of rental housing in Toronto.
Use a Local Real Estate Agent to Find Rentals in Toronto
One of the best decisions you can make when looking for an apartment in Toronto is to enlist the services of a local real estate agent. They will have an inside track on listings that are coming up and can help you quickly narrow down your search based on budget, location preferences, type of housing, and other factors of importance to you. However, it’s best to connect with a real estate agent only when you are in Toronto.
Finding an apartment in Toronto for rent can be a challenge. And, it’s even more challenging when you are looking from abroad. But, when you use this information to research the rental market before you arrive, it will help you to find the perfect Toronto rental when you arrive!
Canada has many cities to choose from as a landing destination, and the City of Greater Sudbury is a welcoming and diverse city to consider! Moving to Canada is a life-changing decision and the city you choose to settle in will influence your future social, financial, and personal success. This is your opportunity to discover Sudbury, Ontario with this helpful information and guide!
No doubt, deciding where to settle is a big decision. But, before you decide where to settle, you can research and compare Canadian cities to evaluate which one is right for you and your family. By comparing factors such as the cost of living, housing options, jobs, and the local economy, you can make your decision with confidence.
Located in northeastern Ontario. Sudbury serves as a regional hub for financial and business services, tourism, technology, education, government, and health care. It’s home to Canada’s third-largest French population outside of Quebec, and many residents speak English and French. Historically, the city attracted many immigrants of Italian, Finnish, Polish, Chinese, Greek, and Ukrainian ancestry. And, today over 165 ethnic origins make up the Greater Sudbury community.
About Sudbury, Ontario
Sudbury is known as a world leader in nickel mining with nine mines, mills, smelters, and a nickel refinery. The local economy was built on the lumber and mining industry. However, today the local economy is much more diverse contributing to its economic growth.
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The city was originally inhabited by the Ojibwe people. In 1850, Ojibwe chiefs agreed to share a large part of the land with the British Crown, establishing the city. It was officially founded in 1883 and named Sudbury in 1893. The city and suburban communities were combined to become the Regional Municipality of Sudbury in 1973. In 2001, several communities merged to form the City of Greater Sudbury. The city is located 390 km north of Toronto and 483 km west of Ottawa.
Greater Sudbury is one of only 11 communities across Canada selected to participate in the Rural and Northern Immigration Pilot program. This program offers a path to permanent residence for skilled foreign workers who want to live and work in smaller communities.
How Many People Live in Sudbury, Ontario?
Sudbury is the largest city in Northern Ontario and has 166,000 residents (based on 2021 Census data). This makes it Canada’s 31st largest city. By land area, it is the largest city in Ontario and the fifth largest in the country. With a large land area, it offers an incredibly low population density of 49.3 people per square km. As such, it offers a unique Northern lifestyle, natural beauty, and a superb quality of life.
How to Find a Job & Build a Career in Sudbury
Sudbury’s Local Economy
Since the discovery of rich mineral deposits in the late 1800s, the economy in the Greater Sudbury area has followed the boom-and-bust cycles of the mining industry. Today the City of Greater Sudbury is a regional shopping destination, serving a catchment area extending across Northeastern Ontario. Sudbury strives to be recognized as one of the smartest, greenest, and sustainable cities.
Sudbury is also home to the Northern Ontario Film Studios which features a 20,000-square-foot main stage with everything to service film production needs.
Manufacturing is still one of the top industries to look for work in Sudbury. Retail, healthcare, sales, and skilled trades offer the most opportunities. There are several ways to look for work in the city.
Sudbury is regarded as one of Ontario’s most affordable places to buy a home.
There are many neighbourhoods to consider in Sudbury, including Downtown, New Sudbury, South End, West End, Minnow Lake, Capreol, Nickel Centre, Rayside-Balfour, Valley East, Copper Cliff, Lively, and Walden. Each area has a unique history.
Is Housing Expensive in Sudbury, Ontario?
As one of the most affordable places to buy a home in Ontario, Sudbury was ranked the fourth most affordable city in Ontario in 2023. Thunder Bay was ranked first according to data from Statistics Canada and the Canada Real Estate Association. Like most cities in Canada, Sudbury has seen housing prices increase, largely due to a lack of housing options. But comparatively, it is still cost-effective and affordable.
Finding a Place to Rent in Sudbury
To search for rentals in Sudbury, check out Rentals for Newcomers. The average rent for a 1 bedroom apartment is $1,774 and $1,749 for a two-bedroom.
If you plan to rent, make sure to protect your personal belongings with in Canada. Your landlord’s insurance policy will not cover you. Indicating that you intend to buy renters insurance can make you an attractive tenant candidate to landlords. This can work to your advantage, especially if many people are competing for the same rental. Property owners may request proof of insurance as part of the rental agreement.
Sudbury is very affordable compared to larger cities in the country. The national average price of a home in Canada was 667,317 as of July 2024, according to Canadian Real Estate Association. The average home price in Sudbury as of July 2024 was $475,076 up 1% increase from July 2023, according to the Sudbury Real Estate Board.
Since the city is spread out geographically, residents rely on driving. Three main highways connect the city to the rest of the province: Highway 17 (a main branch of the Trans-Canada Highway), Highway 69, and Highway 144. Highway 400 is in the process of being extended from Toronto to Sudbury.
All drivers need a valid Ontario driver’s licence. You will need to complete the graduated driving program to get a full licence.
GOVA Transit offers bus services to residents in the Greater Sudbury area. There are over 40 routes that offer service throughout the Greater Sudbury area and surrounding communities.
Community Support for Newcomers
Sudbury continues to welcome and support newcomers in this diverse city. Newcomers can get support from local settlement agencies such as the Sudbury Multicultural Folk Art Association, Collègé Boréal, and the YMCA of Sudbury. Reseau Nord offers settlement support in French.
In addition to the YMCA and Sudbury Multicultural Folk Art Association, many community organizations offer free language classes for permanent residents. Services are offered in both French and English. The school boards and community colleges also offer programs. LINC Sudbury is also the main provider of language support for newcomers.
For information, tools, and free webinars about living in Canada visit our Settling in Canada resource page.
Personal Finance & Banking
A strong financial plan will help you make a successful transition to Canada. Newcomers to Sudbury can access banking and financial services through local banks. Most banks offer special programs for newcomers to help you open a bank account, get a credit card, and even qualify for a mortgage.
Get more information about your financial first steps in Canada by visiting our Banking in Canada resource page!
Sudbury’s Education System
Laurentian University offers more than 175 programs at the graduate, undergraduate, and doctorate levels.
Post Secondary Institutions
Sudbury is a regional centre of learning and applied research for northeastern Ontario. For post-secondary education, Laurentian University, a nationally renowned bilingual university, Cambrian College, and Collège Boréal offer exceptional full- and part-time programs. A focus for all programs is the innovative partnerships with the public and private sectors to conduct research activities and other joint ventures.
The elementary and high school (secondary education) system is free to permanent residents. The region offers quality education from kindergarten to Grade 12 in English, French, and French immersion. You can enroll your children in one of these school boards:
Rainbow District School Board
Sudbury Catholic District School Board
Conseil scolaire de district du Grand Nord de l’Ontario
The medical sector is experiencing tremendous growth, and Sudbury is a regional resource and referral centre for residents in northeastern Ontario. The city provides quality hospital-based care to patients throughout the region and several initiatives in the community demonstrate the city’s commitment to a healthy population. In total, there are three hospitals in the city, Health Sciences North, St. Joseph Hospital, and Science North Hospital.
Sudbury residents must obtain a health card to receive free medical care provided by the Ontario Health and Insurance Plan (OHIP). OHIP pays for many health services you may need. Click here to learn how to apply for OHIP and get a health card.
How to Find A Family Doctor In Sudbury
It’s important to find a family doctor when you move to Sudbury. There are more than 100 family physicians in Greater Sudbury and you can register with Health Care Connect to find doctors accepting new patients.
You can also access non-urgent health care through local walk-in medical clinics. Get more information about health care in Canada: Steps to Access Free Health Care in Canada
Ramsey Lake provides public access within walking distance of the downtown core, while many provincial parks are within short driving distance of the city. Access to nearby outdoor activities creates a great opportunity for a healthy work-life balance.
Things to Do in Sudbury
Sudbury is a big city geographically. It is an outdoor paradise. There are over 300 freshwater lakes and beautiful forests and woodlands. You can enjoy the outdoors, events, and festivals that the city hosts year-round.
Ramsay Lake in late Fall.
Public Spaces & Attractions
The city offers many attractions including Dynamic Earth, Greater Sudbury Heritage Museum, and the Inco Superstack. Science North is one of the most popular science destinations in Ontario. It’s also built right into the rocky shore of Ramsey Lake.
Check out the Northern Lights Folk Festival, Canada’s longest, continually running outdoor music festival. Other festivals include Cinéfest Sudbury International Film Festival, Junction North International Documentary Film Festival, Sudbury Pride, and Up Here Festival.
Science North is one of the most popular tourist destinations in Ontario.
Restaurants & Nightlife
The city also offers diverse restaurants and cuisines, bar options, music, dancing, and live entertainment. Restaurants and nightlife are dispersed throughout the city, but most restaurants and pubs are concentrated in downtown Sudbury.
Nature & Natural Landscapes
Unique in many ways, Sudbury has over 300 lakes within the city limits. Residents of Sudbury are fortunate to have Ramsey Lake near the city’s downtown core. Moonlight Beach is popular in the summer and residents ski at Adanac Skill Hill during the winter. Many provincial parks are close to the city where you can camp, canoe, fish, snowmobile, hike, and bike.
A lookout point overlooking beautiful Lake Ramsay is located only five minutes from the downtown core.
Sporting Events & Concerts
Sudbury is home to the Sudbury Wolves hockey team and Sudbury Five of the National Basketball League of Canada. Laurentian University is part of the U Sports League. The city also is home to other minor sports teams.
Culture & Diversity In Sudbury
Diversity
Greater Sudbury was built on immigration and newcomers continue to contribute to the prosperous city it is today. The city celebrates immigration as the key to a healthy and thriving community. Almost 1 in 5 people in Greater Sudbury were either born or their parents were born outside of Sudbury. About 38% of people identify as bilingual (French and English). The other main languages spoken in the city include Italian, Finnish, German, Ukrainian, and Polish.
Immigration is key to a healthy, thriving community, as newcomers bring fresh perspectives and a wealth of experience. They share their talents, credentials, and knowledge, making the city a more diverse and inclusive place to live.
In 2022. the City of Greater Sudbury launched Greater Together to highlight the benefits of immigration to the local economy. Greater Together tells the stories of immigrants who live in Greater Sudbury and work in areas such as health care, education, and mining. Visit Greater Together and check out some of the inspiring immigrant success stories!
Worship
Sudbury is primarily a Christian community. About 80% identify as Christian, with 60% identifying as Catholic. About 18% of the population has no religious affiliation. Other religions that residents identify with include Muslim, Jewish, Buddhist, Hindu, and Sikh.
The Weather in Sudbury
Sudbury has a humid continental climate with hot summers to enjoy many of the lakes and beaches, and cold winters with enough snow for outdoor sports. It is a city where residents enjoy the winter weather. You can expect snow on the ground for six months of the year. The average high temperature in January is −8.4 °C, by May it’s 17.2 °C and in July it’s 24.8.
Sudburians get active skating outdoors on a sunny winter day along Lake Ramsay
Common Questions Immigrants Ask About Living in Sudbury
What are the Pros and Cons of Living in Sudbury?
There are many reasons to consider moving to Sudbury. The diverse community, strong economy, education, and healthcare system make it an ideal city to raise a family. If you love the outdoors and nature, it’s ideal!
One of the potential drawbacks is the cold winter weather. But you can join many enjoyable winter activities to stay active from snowshoeing, skiing, snowmobiling, and more!
Is Sudbury A Cheap Place to Live?
Sudbury is one of the most affordable cities to live in Ontario. Even though the cost of living is going up, it is still more affordable than in large cities such as Toronto and Vancouver.
Is Sudbury A Good Place To Live?
Sudbury is the biggest and one of the best cities to live in in northern Ontario. Combined with affordable housing, great job opportunities, a unique lifestyle, and natural beauty, you’ll discover a superb quality of life like no other.
For more information, tools, and free webinars about living in Canada visit our Settling in Canada resource page. We’ll help you to settle successfully!
Credential recognition for your education and work experience can propel your job search in Canada. But, what is it and why is it important? Credential recognition provides employers, industry professionals, and regulatory bodies a standard measure of your skills and knowledge. Using a standard measure, you show your competence and expertise credibly. Discover how recognition can unlock career opportunities in Canada.
An interviewer can verify that you the have necessary qualifications for the job.
Why is Credential Recognition Important?
Credential recognition helps employers understand the value of your international experience. Canadian employers may not recognize your education and experience without completing the process. As a result, you may face a lengthy job search that can create financial setbacks.
Regulated professions and certain trades jobs in Canada such as electricians require a license to work. Governing bodies for regulated occupations confirm whether or not you meet Canadian standards.
You may be able to begin the credential recognition process before you arrive in Canada. Doing so reduces the time you spend on the process when you arrive allowing you to continue and advance your career faster.
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Credential recognition may reveal you need further education to get a license to work in your profession in Canada. It will be more cost-effective if you take these steps while abroad.
What Does Credential Recognition Do?
Credential recognition validates qualifications, skills, and expertise you have gained through education, training, or professional experience. While you may be approved to immigrate to Canada, you have to ensure that Canadian employers recognize and value your:
Academic degree
Work experience
Professional credentials.
What’s Involved with Recognition?
Credential recognition involves two separate processes: education evaluation and credential recognition.
I. Education Credential Assessment (ECA)
An ECA reviews your academic background. This helps employers see how your education compares to the Canadian system and its value.
An approved credential agency will review your international education to confirm the following:
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1. Where You Attended School:
Did you study where you say?
Did you complete your education?
2. If the Institution Exists:
Is the school you attended recognized and accredited by an educational regulatory body?
3. Your Education Level
How many years of education do you have?
How does your education compare to similar studies in Canada?
An education evaluation compares international programs to similar studies in Canada.
II. Credential Recognition for Regulated Professions
About 20% of jobs in Canada belong to regulated professions. Credential recognition verifies that your international education, training, job experience, and skills meet Canadian standards for regulated professions.
Provincial and territorial (P/T) occupational regulatory bodies set the standards to obtain a license to work in professions like:
OCCUPATION Click on the occupation to find regulatory bodies in all provinces
PROVINCIAL REGULATORY BODY (Alberta, British Columbia, Ontario)
Visit Career Pathways to find regulatory bodies for more than 25 occupations in Canada.
You can check if your profession requires a license to work in Canada using the National Occupational Classification (NOC 2021 Version 1.0). Here are NOC codes for some in-demand professions in Canada:
Marketing is a non-regulated profession, but employers will expect you to have a business degree.
Working in Non-Regulated Fields
About 80% of jobs in Canada are non-regulated and do not require a license or certificate.
If you do not require a license, it’s up to the employer to decide if you can perform the job based on your:
Skills
Education
Experience
Personal qualities.
For example, some fields such as marketing are not regulated. However, Canadian employers expect a business degree or certificate and relevant experience. While the employer may not ask for an education evaluation, it can be helpful when applying for jobs in a competitive job market.
Benefits of Credential Recognition
Gain a Competitive Edge:
With credential recognition, you gain a competitive edge in Canada’s job market because it signals you have the expertise to excel in the role. Potential employers will find you attractive because you show:
Commitment to professional development
Mastery of relevant skills
Alignment to industry standards.
Build Credibility and Trust:
With credential recognition by industry professionals and regulatory bodies. you instill confidence in employers, colleagues, and clients.
Advance Your Career:
The right credentials can open doors to higher-level positions, and leadership roles, and allow you to progress in your chosen career path. Check out Career Pathways to learn about regulatory bodies for your profession.
Improve Earning Potential:
Credential recognition can help you negotiate a higher salary and better compensation package because of your expertise.
How to Navigate the Credential Recognition Process
Navigating the process can seem challenging, but you can follow these steps to guide your approach:
1. Research Requirements
Research credential requirements for Canada, your industry, and your profession, including communication skills. Learn what documents you require, evaluation procedures, and fees.
Seek guidance and support from relevant credential organizations, professional associations, or regulatory bodies to understand the process and timeline.
Learn about the WES credential evaluation process.
The credential recognition process can be complex and involve multiple steps. Be patient and respond to any requests or feedback from the credentialing bodies.
Taking the right steps to get your foreign credentials recognized can unlock career opportunities and propel your job search in Canada. While the process can be time-consuming, you can start the process in your home country. Gather supporting documents for each process before you arrive in Canada to save time and money. Beginning the process before you arrive can even help you to secure a job faster.
Contact the regulatory body for your profession in the province where you plan to settle to see what steps you can take before you arrive. Getting a licence or certificate to practice in “regulated” occupations varies by province and job.
You can also contact the professional or trade association that governs your occupation in your country to see if it works with similar associations in Canada.
4. Can I get my credentials assessed after I land in Canada?
Yes, you can. Contact the professional or trade association that governs your occupation in your home country to see if it is affiliated with similar associations in Canada. You can also use the Canada Job Bank to learn about licensing and certification.
It can take months or years to obtain more training, pass exams, and get a licence to work in Canada. So, it’s vital to know what you require and prepare.
Statutory holidays in Canada give people an occasional extra day off from work or school. These public, or “statutory holidays” (also known as “stat” holidays are important to rest, take time for yourself, spend time with family, or do other tasks. For newcomers, it’s good to know the calendar of events and dates to plan for them.
What is a Statutory Holiday in Canada?
Canadians observe many public holidays to observe cultural, national, and religious holidays. Some of these days are national holidays. However, there are also holidays that only some provinces observe. Most employees receive a day off from work on a ‘stat holiday’ and still receive their regular pay. Most government institutions, banks, and stores close on stat holidays. There is also no mail service.
In most provinces, when a statutory holiday falls on a Saturday or Sunday, the vacation day usually falls on the following workday.
Statutory Holidays and Long Weekends
Statutory holidays in Canada such as Family Day, Victoria Day, Canada Day, and Thanksgiving mean long weekends when people plan special activities. For Family Day in February, many people plan weekend getaways to ski resorts or enjoy other outdoor activities such as skating or tobogganing. Family Day is also a great chance to attend many of Canada’s winter festivals.
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Victoria Day, honours Queen Victoria, and Canadians celebrate this holiday in May. This holiday hints at the arrival of summer in Canada. People look forward to barbeques with friends and family, watching fireworks displays, or heading to a cottage or campground. Canadians celebrate Canada Day on July 1. So the holiday can fall on any day of the week. For example, if July 1 falls on a Saturday or Sunday, people will take the proceeding Friday or the following Monday as the holiday. Or, if July 1 falls on a Thursday, many people will take another vacation day on Friday to enjoy an extra-long weekend! Canadians look forward to big parties, parades, concerts, fireworks and so much more in cities and towns all across Canada!
Labour Day is another long weekend in September. This holiday is bittersweet for Canadians. It marks the unofficial end of summer and the return to school for kids. During this “stat” holiday in Canada, people will take in fall festivals, hike along nature trails, or sneak in one last visit to the beach!
National Statutory Holidays in Canada
STATUTORY HOLIDAY
DATE
New Year’s Day: Celebrates the first day of the calendar year
Observed in: Alberta, British Columbia, New Brunswick, Ontario, Saskatchewan
This holiday is called: Louis Riel Day in Manitoba Islander Day in Prince Edward Island Heritage Day in Nova Scotia
Third Monday in February
Easter Monday: Celebrates the resurrection of Jesus Provinces that observe this holiday: Alberta, New Brunswick, Quebec, Yukon, Northwest Territories and Nunavut
Occurs on the Monday after Easter and Usually falls between March 23 and April 26
Victoria Day: Celebrates the birthday of Queen Victoria Nova Scotia is the only province that does not observe this holiday
Last Monday in May
Civic Monday: Celebrates local culture, history and achievement
First Monday in August
National Day for Truth and Reconciliation: Honours the survivors of Canada’s residential school system (holiday is observed in British Columbia, Prince Edward Island, New Brunswick, the Northwest Territories, the Yukon, and Nunavut).
How much money will I need to move to Canada? The answer depends on the size of your family. Applying to become a permanent resident (PR) in Canada can be a long process, including showing proof of funds to the Canadian visa office in your home country. Proof of funds shows that you have the minimum amount of settlement funds to move to Canada and support your family when you arrive. It’s also helpful to research the cost of living in the city where you plan to settle to understand living costs. Discover how you can meet proof of funds requirements for Express Entry, minimum amounts, and documents (i.e. proof of funds letter) you’ll need.
Researching the cost of living in the city where you plan to settle is also helpful in understanding the average costs of renting or buying housing, transportation, food, childcare, etc. This will help you budget for expenses after your arrival.
Steps to show proof of funds in express entry
One: Determine the minimum amount you acquire to show proof of funds for PR in Canada
You must show that you have enough money to settle in Canada and to cover living expenses such as housing, food, transit, and other costs. Living in Canada can be expensive depending on which city you settle in. For example, Vancouver is Canada’s most expensive city and Toronto is the fifth most expensive. When calculating how much money you will need to move to Canada, remember to include Canada Permanent Resident Immigration Fees. To reduce financial pressure, ideally, you should have enough money to cover expenses until you land a job in Canada.
Two: Assess your financial situation
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Once you know the minimum settlement funds required, assess your financial situation. Consider how much money you have in savings, investments, cash, etc. You may discover that you need to improve your financial situation to show that you meet the minimum requirements. Or, you may find that you have a suitable amount of settlement funds for your new start in Canada!
Three: Contact your financial institution to obtain a proof of funds letter and other documents
If you are invited to apply for permanent residence, you must show you have the minimum funds available. These funds must be money that you can readily access. Your bank will provide a proof of funds letter that is written on the bank’s letterhead and includes the following:
The bank’s contact information
Your name
Outstanding debts such as credit card debts and loans
Account number, the date the account was opened, current balance, and average balance for the last six months for each bank and current investment account.
How much money will I need for proof of funds?
Before you move to Canada, you need to show that you have the minimum amount of settlement funds set by IRCC. Known as proof of funds, this shows the Canadian government that you have enough money to settle in Canada and cover living expenses. If you have more than the minimum amount, list the amount in your Express Entry profile.
Immigration, Refugees and Citizenship Canada (IRCC) updates how much you require each year based on family size. These figures are current as of May 2024.
Number of Family Members
Funds Required (Canadian Dollars)
1
$14,690
2
$18,288
3
$22,483
4
$27,297
5
$30,690
6
$34,917
7
$38,875
For each additional family member, add
$3,958
The amount of settlement funds you require depends on the size of your family.Source: IRCC May, 2024
Who needs to show proof of funds?
You must show proof of funds if you are applying using the:
Federal Skilled Worker Program
Federal Skilled Trades Program
However, you do NOT have to show proof of funds if you:
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Have a valid job offer in Canada
Are currently working or authorized to work in Canada, OR
Have been invied to apply for the Canadian Experience Class.
Arrive in Canada Financially Prepared
Building a strong financial foundation is vital to your success. Join this webinar to start your banking journey in Canada on the right foot!
Tips to obtain and maintain proof of funds for Canada PR
Update your Express Entry Profile if there is a change in your settlement funds. You need to update your profile to maintain your eligibility.
Avoid unnecessary spending to ensure you have the minimum amount of settlement funds available and can access the funds.
Maintain a financial buffer to meet any unexpected expenses or fluctuations in the exchange rate.
How much money can I bring when I move to Canada?
While you must meet the minimum amount of proof of funds, you can bring as much money as you wish to make it easier to move to Canada and find a home.
When you cross the border and enter Canada, Canadian customs regulations require you to declare if you bring more than C$10,000 into Canada. You may be fined or imprisoned if you do not tell them. To avoid this, declare how much money you are bringing and expect to pay duty (a fee) on the amount greater than $10,000 Canadian. These funds could be in the form of:
Cash
Stocks, bonds, debentures, treasury bills, etc., or
Bankers’ drafts, cheques, travellers’ cheques, or money orders.
How much money can I bring when I move to Canada?
Beyond the minimum funds you require, exceeding the minimum is helpful. Additional money will help you to settle in Canada easily and reduce financial pressure. It’s smart to research the cost of living in the city where you plan to settle. The additional amount of funds that you require will vary based on:
Location and city where choose to live, and
Family size.
Consider any additional financial needs that you and your family may have. Each family will have different financial needs. Also, it’s a good idea to research how much things cost in the city where you plan to live. Here are some guidelines to help you assess how much you may need (costs do not include airfare or moving expenses):
One adult moving alone: $25,000 CDN
One couple moving together: $30,000 CDN
A couple with one child under 10 years: $33,000
A couple with a child over 10: $35,000
For each additional child under 10: add $1,000
For each child additional child over 10: add $2,000
These guidelines will provide you with breathing room to settle in Canada with financial ease. Depending on your budget, this should cover basic living expenses for four to six months while searching for a job.
Research the cost of living in Canada to determine how much money you will need
Canada is a large country with regional, cultural, and economic differences. So, be sure to research and compare the cost of living in cities and factor in inflation in Canada. It may take some time to find a job that matches your skills and experience once you arrive.
Settlement and employment experts suggest it can take up to six months to find employment. In that case, having enough money to cover living expenses for several months can reduce financial stress.
How much money you need for average living costs in Canada's largest cities
To give you an idea of living costs, here are the average costs for rental housing, utilities, and some basic goods and commodities in Toronto, Vancouver, and Calgary (all prices are in Canadian dollars and are current as of May 2024: Source: Numbeo.
Housing and utility costs
COSTS PER MONTH
VANCOUVER (RANGE)
TORONTO (RANGE)
CALGARY (RANGE)
1 Bedroom apartment in the city centre (rent/month)
Showing proof of funds for PR in Canada is vital to the immigration process. Ensure you know how much money you will need to move to Canada to make your application process easier and reduce financial pressures.
Learn more about financial first steps in Canada by visiting ourBanking in Canadaresource page. Get essential information to manage your finances in Canada before and after you arrive!
Read more about your financial first steps in Canada.
Building Credit History in Canada as a Newcomer
A lesson many newcomers learn when they arrive in Canada is that you need credit to pay for large expenses, buy a car, or purchase a home. However, it’s difficult to borrow without a credit history in Canada.
Open a Bank Account Before Arriving in Canada
Opening a bank account before you arrive in Canada offers many benefits including transferring funds before you travel to Canada.
Inflation in Canada and What it Means for Newcomers
For newcomers and international students arriving in record numbers, it’s helpful to understand how the currect inflation rate in Canada can affect how much you pay for housing, groceries, transportation, and other expenses.
Insurance in Canada: What Newcomers Need to Know
Protecting yourself and your family against unexpected danger and risk is what insurance in Canada is all about for newcomers to Canada and international students.
Do Newcomers Need to File an Income Tax Return?
If you became a permanent resident and lived in Canada, even for a short period, filing your first income tax return with the Canada Revenue Agency (CRA) can provide financial benefits.
