Immigration to Canada: how much does it cost and where to get the money?

For many people, the money needed for immigration is a major obstacle to moving to Canada. Salaries and living costs in many countries are significantly lower than in Canada, and some people live paycheck to paycheck with no savings.

How can you immigrate if your bank account is empty? Unfortunately, the answer is — you can't. You need at least some savings. I'll explain how much money you'll need, and then suggest a few ways to get it. Of course, it's impossible to give an exact amount because each family has a different number of people, different documents, different immigration paths, and so on.

Immigration Expenses

Let's take a family of three as an example: two adults and one child. For convenience, I'll use US dollars. Exchange rates change constantly, so please convert the amounts to your currency on your own.

You'll need to spend about $7,200 USD on the immigration process itself. This includes:

• About $350 USD for language tests;
• Around $650 USD for education credential assessment;
• $300-500 USD for document translation, as each family will have a different set of documents;
• $650 USD for the medical exam;
• $1,750 USD for processing the immigration application;
• Another $1,050 USD for the immigration visa;
• $300 USD for biometrics required for the visa;
• Flight prices vary, but let's estimate $2,200 USD for the family.

This totals about $7,250 USD. This amount is approximate and may differ because each family will have different documents. For example, some may have fewer documents and spend less on translation, while others may have more and spend more. Some may only verify the main applicant's diploma to save money, while others may do it for both spouses, and so on.

It's clear that you'll need a significant amount of money, and note that this doesn't include immigration consultant fees. In our company, an initial consultation starts at $115 USD, and full support starts at $4,000 USD. If you need help choosing an immigration program and preparing documents, factor in this cost as well.

Funds in Your Bank Account

You can't move to Canada with an empty wallet. The government has specific requirements for the amount of money you should have in your bank accounts. For immigration through federal programs, a family of three needs about $17,000 USD (requirements increased in July 2025). So in total, you'll need around $24,000 USD.

If this is too much for you, consider provincial programs with lower requirements. Provinces may require only $4,500 USD for a family instead of $17,000 USD, bringing the total to $11,500 USD. If you need an immigration consultant's support, add another $4,000 USD.

Ways to Save

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How can you get $11,500 — 24,000 USD? The most obvious way is to save money. Start saving for immigration as soon as possible, ideally from today. Use this rule: first set aside money for your "immigration fund," then pay bills and spend on daily needs. It's best to save in dollars — Canadian or US. This way, you won't lose money due to exchange rate fluctuations. You can buy small amounts of foreign currency at any rate, as it's difficult to predict the best time to buy.

Another option is to sell property. Even selling a small apartment can provide enough funds for immigration. If the cost of living in your country is much lower than in Canada, you probably won't be able to buy a house or apartment in Canada with the money from selling your property back home. You'll have to either rent or save for a mortgage. If your apartment in your home country is mortgaged, you can still sell it. You'll keep the amount you've already paid to the bank and can convert it to foreign currency.

Selling your home might seem like a drastic step, but it's worth considering before moving, even if you have enough money. If you live in Canada for more than 6 months a year, you'll become a Canadian tax resident, and you'll pay higher taxes as a non-resident in your home country.

A less drastic but still effective option is to sell your car. You're unlikely to take it with you to Canada as it's very complicated. By selling it, you'll get money and save on gas and maintenance. It might not bring you $24,000 USD, but it will be a significant contribution to your "immigration fund." After moving, you'll likely earn more than in your home country, so you can buy a new car after some time.

Another way to save for immigration is to look for additional income sources. If you're currently employed in your country, try changing your job to earn more. For example, you could:

• Start freelancing for foreign companies;
• Go to Europe for work;
• Start your own business;
• Come to Canada on a work visa and start working in the country with a temporary work permit, then apply for permanent residency after a year.

I especially recommend considering the last option, as moving through employment will be cheaper for you. Plus, it's one of the main trends in immigration lately. Canada is increasingly granting permanent residency to those who have already worked in the country or at least received a job offer. In 2025, Canada's immigration plans have been reduced to 232,150 new permanent residents, which is 30% less than previous plans, so competition has increased.

Another option is investing in short-term, high-yield instruments. I'll say upfront that this method is only for those with experience. The idea is to invest money at a high interest rate in securities of reputable companies for a short period and try to profit from the growth of these securities. You could earn well, or you might not get anything or even lose money. So this method is risky, I can't recommend it, and you shouldn't invest your last money this way.

A Tip for Those Who Don't Have Enough Money

Finally, here's a tip that some immigrants use. Let's say you've started saving money. It will take quite a long time to save the required amount. Each year, you'll get older and lose points for age in immigration programs. Also, over time, the amounts needed for immigration increase, and prices rise.

Immigration programs require money in your accounts, but you don't need to show it right away when applying, only when you're invited. Some people take advantage of this and apply before they've saved the required amount. The application will take at least six months to process, likely longer, giving you time to save more money.

I can't advise you to use this tip because you might get invited before you've saved enough. But if you're confident you can save the money in a few months, it's at your own risk.

Other Expenses

If you want to dive deeper into immigration costs, we have an e-book that breaks down expenses across 27 categories. This includes the costs mentioned in the article, as well as expenses for moving belongings and pets, renting accommodation in Canada, mobile phone plans, insurance, buying furniture, and much more.