APPENDIX 2: Settlement Funds
GSB
SUMMARY
The following table from statistics Canada shows LICO (➨immilib.com/LICO) for the year 2022. The low income cut-offs are income thresholds below which a family will likely devote a larger share of its income on the necessities of food, shelter and clothing than the average family.
Based on the size of your family unit and the immigration program you are applying under, the LICO determines the minimum required funds to settle in Canada.
For settlement funds under Quebec Skilled Worker program, you must complete a contract, by which you agree to provide for your needs and those of the members of your family accompanying you for at least the first three (3) months following your arrival in Québec.
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Low Income Cut-Off Table (2022)
|
Size of Family Unit |
LICO Urban Areas |
LICO Rural Areas |
| 1 person | $29,380 | $20,225 |
| 2 persons | $36,576 | $25,178 |
| 3 persons | $44,966 | $30,953 |
| 4 persons | $54,594 | $37,582 |
| 5 persons | $61,380 | $42,624 |
| 6 persons | $69,834 | $48,074 |
| 7 persons | $77,750 | $53,523 |
| If more than 7 persons, for each additional person, add | $7,916 | $5,441 |
Most Immigration Programs that Require Settlement Funds
For many federal and provincial permanent residence programs, , coming into effect on May 28, 2024, the required minimum settlement funds are based on %50 of the LICO for urban areas (➨immilib.com/Funds).
|
Size of Family Unit |
%50 of LICO for Urban Areas Required Settlement Funds for most immigration programs |
| 1 person | $14,690 |
| 2 persons | $18,288 |
| 3 persons | $22,483 |
| 4 persons | $27,297 |
| 5 persons | $30,690 |
| 6 persons | $34,917 |
| 7 persons | $38,875 |
| If more than 7 persons, for each additional person, add | $3,958 |
Rural and Northern Immigration Pilot (RNIP)
For RNIP, coming into effect on April 25, 2023, the required minimum settlement funds are based on %12.5 of the LICO for rural areas (➨immilib.com/Funds-RNIP).
|
Size of Family Unit |
%12.5 of LICO for Rural Required Settlement Funds for RNIP |
| 1 person | $2,367 |
| 2 persons | $2,947 |
| 3 persons | $3,623 |
| 4 persons | $4,399 |
| 5 persons | $4,989 |
| 6 persons | $5,627 |
| 7 persons | $6,265 |
| If more than 7 persons, for each additional person, add | $637 |
Atlantic Immigration Program (AIP)
For AIP, coming into effect on April 25, 2023, the required minimum settlement funds are based on %12.5 of the LICO for urban areas (➨immilib.com/Funds-AIP)
|
Size of Family Unit |
%12.5 of LICO for Urban Areas Required Settlement Funds for AIP |
| 1 person | $3,439 |
| 2 persons | $4,281 |
| 3 persons | $5,263 |
| 4 persons | $6,391 |
| 5 persons | $7,248 |
| 6 persons | $8,175 |
| 7 persons | $9,101 |
| If more than 7 persons, for each additional person, add | $926 |
Alberta Rural Renewal Stream (ARR)
For ARR, the required minimum settlement funds are based on %50 of the LICO for rural areas (➨immilib.com/Funds-ARR)
|
Size of Family Unit |
Required Settlement Funds – Rural areas with population of less than 1,000 |
Required Settlement Funds – Rural areas with population of 1,000 to 30,000 |
Required Settlement Funds – Rural areas with population of 30,000 to 99,999 |
| 1 person | $8,922 | $10,151 | $11,093 |
| 2 persons | $11,107 | $12,636 | $13,810 |
| 3 persons | $13,655 | $15,534 | $16,977 |
| 4 persons | $16,579 | $18,861 | $20,613 |
| 5 persons | $18,803 | $21,392 | $23,379 |
| 6 persons | $21,208 | $24,127 | $26,367 |
| 7 persons | $23,611 | $26,861 | $29,356 |
| If more than 7 persons, for each additional person, add | $2,404 | $2,735 | $2,986 |
Quebec Skilled Work Program (QSW)
For QSW, the required settlement funds are for year 2024 based on the basic needs of a family unit for the three-month period covered by a financial self-sufficiency contractsufficiency contract (➨immilib.com/Funds-QC).
|
Number of adults (parents) |
Number of children under 18 |
Required Settlement Funds |
| 1 adult | No Children | $3,770 |
| 1 adult | 1 child | $5,066 |
| 1 adult | 2 children | $5,719 |
| 1 adult | 3 children | $6,371 |
| 1 adult | More than 3 children | $652 per child |
| 2 adult | No Children | $5,529 |
| 2 adult | 1 child | $6,193 |
| 2 adult | 2 children | $6,684 |
| 2 adult | 3 children | $7,176 |
| 2 adult | More than 3 children | $491 per child |
| Children 18 and over | $1,758 per child |
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