How much bank balance is required for Canada tourist visa?

Canada is an awesome place to visit! It’s known for its stunning landscapes, like the Rocky Mountains and beautiful coastlines.

Whether you love city life or prefer smaller towns, Canada has something for everyone.

The people in Canada are super friendly, and the country is a mix of different cultures. You can explore museums, enjoy festivals, and try delicious food worldwide.

Cities like Toronto, Vancouver, and Montreal are vibrant and full of life. If you’re into nature, Canada has tons of national parks. You can ski in the mountains, kayak in lakes, or hike along scenic trails.

And the best part? Canada is safe, with great transportation and infrastructure. The idea of visiting Canada is great; if you are planning to visit any time soon, you need a visa to enter Canada.

Canada tourist visa, officially known as the Temporary Resident Visa (TRV) is designed for individuals who wish to visit Canada for a short period, typically for tourism, family visits, or business purposes.

If you must visit Canada, getting a TRV is mandatory as long as you are a citizen of countries that are not visa-free to Canada.

To get your Canadian tourist visa, you need to meet all the requirements including the minimum bank balance requirements, if you are wondering how much that is, here is everything you need to know.

How much bank balance is required for a Canada tourist visa?

According to the Immigration, Refugees, and Citizenship Canada (IRCC), you’ll need a minimum of 2,000 CAD in your bank account to qualify for a Canada tourist visa.

This financial requirement is part of the visa application process. Its sole purpose is to ensure that visitors have enough funds to cover their stay and expenses such as accommodation, food, transportation, and other necessities while they are in Canada.

Before getting your visitor visa to Canada, you must demonstrate that you have sufficient funds to cover your stay in the country.

The Canadian government wants to ensure that visitors can support themselves financially and won’t become a burden on the country’s social services during their stay.

Additional funds

In addition to the 2,000 CAD required for your visa application, you need to allocate extra funds based on the specific conditions of your trip.

If you have a family member accompanying you or if you intend to stay for a long time, you will need more than just 2,000 CAD.

Factors that will determine how much you need as additional funds

1. Duration of stay: If you intend to stay for long, you will need additional funds to cover extended accommodation, meals, and other daily expenses.
2. Travel itinerary: Another factor that will determine if you need extra funds for your trip is the nature of your travel plans. If you plan to explore multiple cities, engage in various activities, or undertake excursions, you will need extra money.
3. Accommodation type: What kind of accommodation do you plan for yourself? Opting for more luxurious accommodation or choosing extended stays will require a higher budget, keep that in mind when planning your trip.
4. Transportation costs: Depending on your mode of transportation within Canada and any inter-city travel, transportation costs can fluctuate and you will need extra cash for it.
5. Recreational and entertainment expenses: You also need to budget for sightseeing, attractions, and other leisure activities if you plan on engaging in them.

Adjusting your budget

To determine the actual additional funds you need for your trip, you have to carefully assess your travel itinerary, anticipated expenses, and any potential contingencies.

Do not forget that you also need to factor in a buffer amount to account for unforeseen circumstances or changes in your plans.

Providing Ya proof of funds during your visa application

Having the required 2,000 CAD isn’t the end of it, you also need to provide proof that you have this money in your account or at least, that the money is accessible to you.

Before submitting your visa application include the following as proof that you have sufficient funds to sponsor yourself throughout your stay in Canada.

1. Bank Statements

   • Recent bank statements: You have to include your recent bank statement as part of your visa application. The bank statements should showcase your financial transactions and balances. In addition, make sure that your statements reflect a consistent and stable financial history. Avoid large, unexplained fluctuations.
2. Pay Stubs or income statements
   • Employment Verification: If you’re employed, you can include your pay stubs or income statements from your employer, if you don’t want to use your bank statement. The pay stub should state your position, income, and duration of employment.
   • Self-employed individuals: If you are self-employed, you can provide your business financial statements, tax returns, and other relevant documents.
3. Savings and Investments
   • Details of investments: If you have savings or investments, you can provide documents showing the type, amount, and accessibility of these funds.
   • Certificates of deposit: Include certificates of deposit or other financial instruments that highlight the availability of funds.

Are you being sponsored by a relative in Canada or you are on an invitation?

If you have a friend or relative in Canada who is willing to sponsor your visit, you need to include their financial information.

You also need to get a letter of invitation from your host – it strengthens your application.

Do not forget to provide evidence for additional funds

This is also very important, since you have other engagements in Canada, you need to provide evidence that you can sponsor your engagements.

Provide a detailed breakdown of your budget, outlining how the additional funds will be allocated.

This transparency not only showcases your financial responsibility but also strengthens your case for a successful visa application.

It is also important for you to know that this required amount can change over time – immigration policies change and so do the requirements.

You can find the most recent information on the official website of Immigration, Refugees, and Citizenship Canada (IRCC).

When you start budgeting, make sure you convert your funds into Canadian dollars using the official exchange rates provided by recognized financial institutions.

Conclusion

If you’re planning to visit Canada, you will need a tourist visa and you don’t get it by just submitting your application, you must meet the visa requirements.

These requirements range from a list of documents, age and financial capacity – to be allowed into Canada, you must provide evidence that you can support your stay in Canada financially.

Read also:

• How to make money while studying abroad
• After visa approval when should I travel?
• Can I enter the UK before my student visa starts?

The bigger the amount in your account, the higher your chances of obtaining a Canada tourist visa

Without meeting the financial requirements for a tourist visa, your visa application will not be granted.

Finally, it is also important for you to know that IRCC regularly updates visa application requirements including tourist visas.

To stay updated, you need to regularly check the official IRCC website for the most up-to-date information.