Planning to arrive in Canada? Check your financial condition first!

So, finally you have received your much prized Canadian visa, and now it’s time to migrate to the country of your dreams! But the battle is just half won. Though you may have sweated it out, and left no stones unturned whatsoever to get a visa for the Maple Country, your work is still not over. Now you need to prepare for you new life in an alien country, and ensure that you are not caught on the wrong foot in the new country.

Towards this, taking a stock of your financial status, in relation to the status of a Canadian and preparing accordingly is pivotal. Finances play a key role even as you need to ensure that you are strong enough on this front to lead a happy and comfortable life in Canada.

Different Cost of Living

You require knowing that life in the Maple Country will not be the same as in your home nation even while you could have to settle with an employment with lower wages while you improve your professional skills, and/or receive experience working in the Maple Country. It denotes that your financial condition may undergo significant changes–and even if you earn higher wages in the Maple Country, as compared to what you may have earning back home–the overall cost of living at your new home nation could be higher.

Find out how much it costs to reside where you have plans to reside in the new nation. Although the cost of living will differ on the basis of where you make your mind up to settle, some costs will be usual for the goods & services throughout the overseas destination. Also, check with your financial advisor or banker to know if your home nation has a cap on how much funds may be transferred. Discover more about transferring funds to the Maple Country and goods you may import tax-free & duty-free.

In case you will shift to the foreign destination as a trained employee, investor, and/or entrepreneur–or as a self-employed individual–you will be required to furnish evidence that you possess enough funds to support not only yourself but your family also, post you turn-up at your new destination.

You cannot take a loan from another person for the given purpose. You also should be in a position to utilize this money to duly maintain the costs of living for your family. You will also require offering evidence of your funds at the to the concerned visa bureau in your home nation when you present your permit-submission for immigration.

Remember: Ottawa does not give any sort of financial assistance to fresh trained workers from abroad. Hence, turn-up in the nation with you family only after you are 100% sure that you can support yourself and your family members lead a comfortable life, even as you–along with your family—get to enjoy the established living standards there.

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