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Self Employed Category: Funds to Settle

The Government of Canada provides no financial support to business immigrants. All business applicants must establish that they have enough money to support themselves and their family members for at least 1 year after they arrive in Canada.

This is normally satisfied by the net worth requirement. Nonetheless, you should research the cost of living in the region of Canada where you intend to live and have access to enough capital for your initial establishment.

You should be aware that Canadian legislation requires persons entering Canada to declare cash funds of $10,000 CDN or more. You will have to disclose these funds to a Canadian official upon arrival.

Cash funds are defined as:

• Money (coins or bank notes);
• Securities in bearer form (stocks, bonds, debentures, treasury bills, etc.); and
• Negotiable instruments in bearer form (bank drafts, travellers' cheques, money orders, etc.).

Do You Meet The Funds Requirement For Self Employment?