How Much Does it Cost to Move to Canada?
Certain fees exist to process your application when moving to Canada, and the fees vary depending on what category or program you applied under. For those in the skilled worker programs, the cost is $550, plus $550 for a spouse and $150 per child. Once you have secured permanent residence, there is also an additional cost of $490 per person.
In addition, it is important to note that unless you have arranged for employment in Canada prior to your arrival, you must have what are termed “settlement funds” that total a minimum of $10,000 per person, calculated in Canadian dollars. It is also required that you have an additional $2,000 for each dependent that is moving to Canada with you.
While situations vary, and while different regions of Canada have different living costs, the key element to remember is that you will need to provide yourself and your family with enough breathing room to support your living expenses for six months.
Also, remember that if you are living in Canada you may still be required to pay taxes in the UK. And for retirees currently receiving a pension, you will also need to consider how to transfer that money while minimizing fees. In addition, it is prudent to consider other factors such as how inheritances may be impacted by your Canada move, how to manage the volatility of exchange rates, and other factors.