Canada Updates Settlement Funds Required under FSWC, FSTC

In a rather important development–from the perspectives of the Canada immigration motivated candidates–Ottawa has reportedly updated the settlement funds needed for the aspirants under the Federal Skilled Trades Class (FSTC) and the Federal Skilled Worker Class (FSWC). There are no requirements whatsoever on the part of the aspirants–who get an Invitation to Apply (ITA) under the Canadian Experience Class (CEC)–to exhibit settlement funds.

Apart from this, applicants, who have the power to do a job in the country and who have a legally valid employment offer from a recruiter in the Maple Leaf Country, are not subject to the necessity of the settlement funds.Canada Updates Settlement Funds Required under FSWC, FSTC

Despite the fact that the augmentation in the settlement funds is low, at just more than 1% for each family size, it is possible that this rise might have an effect on the eligibility of some applicants. Given this, each and every applicant would do well to verify the latest numbers, to guarantee that they possess the compulsory funds.

Important: The latest settlement funds requirement is applicable only to the case of the petitions presented as of January 27, 2017. The petitions already put forward will be duly reviewed as per the preceding conditions.

Settlement Funds Condition, as of January 27, 2017

It is obligatory that the settlement funds are either equal to or higher than the sums listed here for each family size. For a family with 1 member, the funds needed stand at 12,300 Canadian Dollars; for a family with 2 members, the funds needed stand at 15,312 Canadian Dollars; for 3 members, the requirement stands at 18,825 Canadian Dollars; for 4 members, the requirement stands at 22,856 Canadian Dollars; for 5 members, the requirement stands at 25,923 Canadian Dollars; for 6 members, the requirement stands 29,236 Canadian Dollars; or 7 or more members, the requirement stands 32,550 Canadian Dollars.

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