Tips for handling your settlement funds

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Do you know how much money you need to bring to Canada? Before moving, think of the following:

  1. Cost of living
    • Read How much does it cost to live in Manitoba?. Take note of:
      • Personal costs
      • Taxes
      • Housing costs
      • Commuting distance
      • Compare living cost in Manitoba to the rest of Canada.
    • Read the latest Canadian news and events. Learn about developments that can affect you financially. Go to CBC News and other Canadian news sites.
  2. The size of your family
    • Your budget will depend on how many family members are coming with you.
    • Consider a budget for medical or health needs.
    • Get additional health insurance if you or a family member needs regular care or medicines.
    • Go to Health Care Coverage from for more information.
  3. Your settlement plan
    • The amount you need to bring also depends on:
      • Your housing arrangement (renting or staying with relatives or friends?)
      • What you will do when you get here (look for a job, study, start a business, etc.)
      • Available supports
      • Your lifestyle
    • Include timelines when you plan. Remember, time is money.

How much money should you bring?

  1. Bring as much as you can to support yourself and your family.
  2. The minimum amount depends on the immigration program you applied to.
    • For Skilled immigrants (Express Entry):
      • You don’t have to show proof of funds if:

        • you are currently authorized to work in Canada
        • you have a valid job offer from an employer in Canada
        • you have been invited to apply under the Canadian Experience Class
      • Otherwise, you have to show proof that you have enough money to support yourself (and your family) when you arrive. For individuals, C$12,960 is required (check link below for updated rates).
      • For couples or families, the amount depends on the number of family members coming with you: check Proof of funds – Skilled Immigrants – Express Entry.
    • For other immigration programs, check with Immigrate
  3. If bringing C$10,000 or more, you have to declare it.
    • Declare it on your CBSA Declaration Card. You can also say it to the border services officer.
    • Fill out the form (Form E677), Cross Border Currency or Monetary Instruments Report – Individual.
    • Read Canada Border Services Agency’s (CSBA) How to Report.
  4. Know the law in your home country. There could be limits on the amount you can take out and bring with you.

What can you bring?

  1. You can bring your settlement funds in the form of:
    • Cash
    • Documents that show property or capital payable to you:
      • stocks
      • bonds
      • debentures
      • treasury bills, and others
    • Documents that guarantee payment of a set amount of money payable to you:
      • bankers’ drafts
      • cheques
      • travellers’ cheques
      • money orders
    • Banks in Manitoba may have partner banks in your home country. Check Banks operating in Canada. It will make it easier to transfer funds.
    • Check your immigration program’s rules for presenting proof of settlement funds.

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