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.
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!
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The cost of accommodation in Canada varies by city and vacancy rates are a key driver of costs. Housing costs are usually the largest portion of a monthly budget, and if you’re a newcomer to Canada, it’s helpful to understand what determines accommodation costs. With this knowledge, you can decide where you want to live and how much you can afford. Other factors that affect the accommodation costs include location, type of housing, and size.
What Does Vacancy Rate Mean?
In Canada, the vacancy rate refers to the housing supply and the occupancy rate refers to the housing demand. Though the answer is subjective, a healthy vacancy is considered to be around 3% in general.
The Canada Mortgage and Housing Corporation (CMHC) conducts the Rental Market Survey (RMS) every October in urban areas with populations of 10,000 and more. The RMS estimates the strength of the rental market. The survey targets privately rented structures with at least three rental units, that have been on the market for at least three months.
The CMHC also conducts the Condominium Apartment Survey (CAS) every year in September to estimate the strength of the condo apartment rental market. The cities covered in this survey are Calgary, Edmonton, Gatineau, Halifax, Hamilton, Kelowna, Kitchener, London, Montréal, Ottawa, Regina, Saskatoon, Toronto, Vancouver, Victoria, and Winnipeg.
How Vacancy Rates Affect the Cost of Accommodation in Canada
A vacancy rate of two percent or lower means there is greater competition among prospective tenants as they vie for fewer vacant rental properties.
VACANCY RATE
WHAT IT MEANS
Less than 2%
– High demand with a limited housing supply – Drives rental cost higher
3%
– Healthy balance between housing supply and demand
Greater than 3%
– High supply with low demand – Lower housing costs – “Renter’s Market
The vacancy rate is also a key factor determining the accommodation cost in cities across Canada. With this in mind, you can research vacancy rates to understand rental costs, determine how much you can afford, and budget for rent. Here are the 2023 vacancy rates and average rental rates for a 2-bedroom apartment in several Canadian cities:
CITY VACANCY RATE
AVERAGE RENT FOR A 2-BEDROOM CONDOMINIUM APARTMENT
CANADA 0.9%
$2,049
OTTAWA, Ontario 0.4%
$2,085
VANCOUVER, British Columbia 0.9%
$2,580
HALIFAX, Nova Scotia 1.0%
$1,628
TORONTO, Ontario 0.7%
$2,862
KITCHENER-CAMBRIDGE-WATERLOO, Ontario 0.1%
$**
CALGARY, Alberta 1.0%
$1,819
REGINA, Saskatchewan 1.8%
$1,421
LONDON, Ontario 0.1%
$2,050
SUDBURY, Ontario 1.2%
$1,361
WINNIPEG, Manitoba 1.8%
$1,333
WINDSOR, Ontario 2.0%
$1,253
SASKATOON, Saskatchewan 2.0%
$1,449
EDMONTON, Alberta 2.5%
$1,359
HAMILTON, Ontario 2.6%
$2,373
ST. CATHARINES-NIAGARA, Ontario 2.8%
$1,388
Source: Rental Market Report, Canada Mortgage and Housing Corporation, January 2024
How Much Do Apartments Cost in Canada?
Vacancy rates of less than 2% such as in the city of Toronto drive the cost of accommodation higher.
Finding affordable housing continues to be challenging, especially in Toronto and Vancouver where vacancy rates are below two percent. That’s why we encourage newcomers to consider other cities that often offer hidden advantages to newcomers, including lower accommodation costs.
What’s Affordable Housing in Canada?
Housing affordability and supply are essential factors when evaluating your landing city options. In Canada, spending less than 30% of your pre-tax income on housing is considered affordable. Spending more than 30% on housing will mean cutting into your budget for things like food, transportation, and other necessities. And, until you establish stable finances, it’s wise to manage your budget and expenses accordingly.
Where to Find Affordable Accommodation in Canada?
The cost of accommodation can be lower when the vacancy rate is higher such as in Edmonton, Alberta.
Major cities like Toronto and Vancouver are expensive when it comes to accommodation. However, you’ll likely find housing prices that are more in line with your budget in other Canadian cities. Carefully researching small and mid-sized cities across Canada before you choose your landing city is the key to your success.
Research the Housing and Job Markets in Different Cities
It’s important to research housing and job markets across Canada. Canada is a vast country with regional, economic, and cultural differences. And, the cost of housing (both in the rental and homebuying markets) can vary widely. At the same time, you want to research your profession in different cities to ensure job opportunities match your skills, knowledge, and experience.
This initial research is critical. While you can always relocate to other cities, making a secondary move is expensive. Carefully evaluating your landing city options, housing costs, and career options will help you make smart decisions and achieve financial stability and success! You can easily check out rental costs in cities across Canada at Rentals for Newcomers.
Become Familiar with the Cost of Living in Different Cities
The cost of living can vary across Canada. Groceries, transportation, rent, or home-buying costs can be expensive. Also, consider your lifestyle and the cost of entertainment and dining out.
Considering all of these factors will help you to budget for the cost of accommodation in Canada. And for newcomers, this information can help you to make smart and affordable landing city decisions!
If you plan to move to Canada you have to pay several immigration fees to process your application to become a permanent resident. As of April 30, 2024, here are some of the current permanent residency fees increases:
Fee: Economic Immigration (Including Express Entry) Fees apply to: Agri-food pilot, Atlantic immigration pilot, Atlantic immigration program, Canadian experience class, Federal skilled workers, Federal skilled trades, Provincial nominee, Rural and northern immigration pilot, Quebec-selected skilled workers.
As of April 30, 2024
Your application (includes processing fee and right of permanent residence fee)
$1,525.00
Your application (without right of permanent residence fee)
$950.00
Right of permanent residence fee
$575.00
Include your spouse or partner (includes processing fee and right of permanent residence fee)
$1,525.00
Include a dependent child (without right of permanent residence fee)
$260.00/child
Permanent Resident Card
$50 (no increase)
Permanent Resident Travel Document
$50 (no increase)
Citizenship – application fees Adult (18 and over) Minor (under 18)
$630 $100
Biometrics: Per person Per family (2 or more people)
$85.00 $170.00
Be sure to budget for 2024 permanent residency fee increases.
According to Immigration, Refugees and Citizenship Canada (IRCC) the fee increases account for inflation since the last increase in 2022. Permanent resident fees increase every two years and take into account the rising cost of delivering programs and services. The next fee increase will be in 2026.
At this time, the fees will not increase for the following:
Canadian Permanent Resident Card ($50): a wallet-sized document that is issued to new permanent residents to confirm status in Canada
Permanent resident travel document ($50): a travel document valid for one entry
Certification or replacement immigration documents.
When calculating how much money you’ll need to move to Canada, remember to add these immigration fees to your budget. While Canada’s immigration fees are less expensive than countries such as Australia, the United States, and the United Kingdom, these fees can still add up.
What is the Right of Permanent Resident Fee?
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The Right of Permanent Resident Fee is a separate fee all permanent resident applicants must pay when their application is approved. But to avoid processing delays, you can submit this fee while you pay your application fees. And if your application is not approved, the IRCC will give you a full refund.
How to Pay Canada Permanent Residency Immigration Fees
You can pay your Canada immigration fees online. Use the online form to indicate your country and the forms that you are submitting. The IRCC will calculate the total fee that you owe.
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For more information, tools, and free webinars about living in Canada visit our Settling in Canada resource page. We’ll help you to settle in Canada successfully!
Getting a credit card when you arrive in Canada is a great way to build a credit history, but you must avoid making common mistakes. From spending more than your credit limit, to only paying the minimum monthly payment, these mistakes can damage your credit score and make it difficult to achieve your financial goals. Learn how to avoid these financial mistakes and what you can do to stay in good standing.
1. Only making the minimum monthly payment on your credit card bill
Credit card issuers make it easy for you to repay your balance by allowing you to make minimum monthly payments. Sometimes you may only afford to make the minimum monthly payment, but avoid making this a habit. When you only pay the minimum payment each month it increases the amount of time it takes to pay off your balance and you’ll pay much more interest. It also means that you will likely never pay off the full amount of your card.
A better approach is to pay the full balance. If that’s not possible, pay more than the minimum monthly payment to accrue less credit card interest and pay your debt faster.
2. Missing credit card payments
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Missing payments means that you will have to pay a late payment fee. And late payment fees can add up quickly. To avoid late payment fees, you can set up an automatic payment to your debit card. Remember, you should pay off the full balance each month. Falling behind in your payments can lead to higher credit card interest charges and your credit score will suffer. Meeting your monthly payments shows creditors that you manage your money well.
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!
If you don’t open your credit card billing statement, you risk missing your payment due date or paying less than you should be. Ignoring your statement could cause you to miss important announcements about changes to your credit card terms. Review the monthly transactions to ensure that there are no purchases that you did not make or approve. If there are any errors, contact the credit card company immediately to discuss the transaction.
Missing payments will also cause your credit score to decrease. Missed payments can remain on your credit report for up to six years.
4. Not reporting a lost or stolen credit card
If you lose your card, the first thing that you should do is report it to your financial institution. The longer it takes you to report a lost or stolen card, the greater the chance of fraudulent activities. Reporting a lost credit card quickly shows the bank that you are responsible.
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5. Maxing out your credit card limit
This credit card mistake is important to avoid. As a newcomer, in your first few months, you will likely have some unexpected expenses you didn’t budget for. A credit card can be a short-term solution but you should never max out a card to its limit. When you max out your credit limit, it indicates to creditors that you are living beyond your means.
It’s better to spend less than 30% of your credit limit. This is known as the credit utilization ratio to assess how much credit you have versus how much you use. This ratio is also about 30% of your credit score calculation. Getting close to your credit limit puts you at risk for over-the-limit fees and penalty interest rates you’ll have to pay when you exceed your credit limit. Maintain a low balance on your card for a healthy credit score and manageable payment amount.
Avoiding these credit card mistakes will help you reduce financial stress, increase your credit score, and build credit history.
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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.
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