1.1 Understanding the Financial Requirements for a Spouse Open Work Permit in Canada
Applying for a Spouse Open Work Permit (SOWP) in Canada can be a complex process, especially when it comes to understanding the financial requirements. Many applicants and even consultants remain unaware of the latest updates in financial capacity rules, which can lead to visa refusals. In this blog, we will clarify these requirements and help you ensure your application meets all the necessary criteria.
1.2 How Much Funds Needed?
The financial requirement varies depending on the number of family members accompanying the applicant. Below is a breakdown:
Primary Applicant: $21,000
Spouse: $5,000
First Child: $6,000
Second Child: $7,000
Third Child: $5,000
For a family of two (primary applicant + spouse), the total required funds would be $26,000. If you have children, the amount increases accordingly.
1.3 Why Are These Funds Required?
Canada mandates this financial requirement to ensure that families have sufficient funds to support themselves for at least one year in case of unexpected financial hardships, such as job loss.
Even though the question is simple, the answer is not that simple. Changes in financial capacity requirements occurred in 2024, yet many applicants still follow outdated guidelines. This has led to numerous visa refusals.
1.4 Where to Show Funds?
Funds can be shown in Canada or outside Canada, but they must be in the name of the husband or wife (not parents or siblings). Accepted formats include:
Savings Accounts (Canada or Home Country)
Fixed Deposits (FDs)
GIC (Guaranteed Investment Certificate)
Hello Canada Account (ICICI Bank)
One common mistake is that applicants fail to include their GIC in their financial proof, which can lead to visa refusals.
1.5 What if Old Funds are Not Available?
If you do not have old funds, it is still possible to apply. However, showing recently deposited funds might lead to rejection unless you can provide clear proof of their source. A good strategy is to convert recent funds into fixed deposits or transfer them to a Canadian account for better credibility.
Many people believe that waiting for funds to become older before applying is the only option. However, instead of waiting for 3-4 months, you can submit a fixed deposit or show funds in a GIC account in Canada, which can improve your chances.
1.6 How Much Funds Needed if I Came with CAD 10,000 GIC & Now Going on PG Work Permit?
Even if you arrived in Canada with a $10,000 GIC, when applying for a PG work permit and a spouse open work permit, you still need to demonstrate financial capacity:
Primary Applicant (PG Work Permit Holder): $21,000
Spouse: $5,000
One Child: $6,000
Two Children: $7,000
Three Children: $5,000
Having income in Canada does not exempt you from this requirement.
1.7 Is GIC Included as Funds?
Yes, GIC is counted as part of your financial capacity, but it is not the only requirement. You still need to demonstrate sufficient liquid funds.
1.8 Core Funds vs Additional Funds
Core Funds: These include liquid assets available in a savings account, fixed deposit, GIC, or Hello Canada Account in the name of the husband or wife.
Additional Funds: These include assets such as property, PF accounts, stocks, mutual funds, or parental support. While they strengthen your application, they are not considered core funds.
Applicants often mistakenly believe that property and income can replace core financial requirements, which is not true.
1.9 Is Fixed Asset / Property Included in Funds?
No. Fixed assets like property, land, or real estate are not counted as financial capacity. They can support your application as proof of financial stability, but they do not replace core funds.
1.10 Is Income Included in Funds?
No. Your current or future income is not included in your financial capacity. Even if you have a high-paying job in Canada, you must show readily available liquid funds.
1.11 Can I Withdraw Funds After Visa Application?
No. If IRCC verifies your funds and finds that they are no longer in your account, you risk receiving a five-year ban from Canada. This is a serious offense that can impact your spouse’s PR application as well.
Some applicants attempt to withdraw funds immediately after applying, but this can result in permanent bans and PR complications.
1.12 Study with Spouse & Kids Possible?
Yes, you can apply for a study visa with your spouse and children. In fact, it is often recommended to apply as a family to avoid long-term separation and maximize PR opportunities.
1.12.1 Benefits of Applying as a Family:
Spouse Can Work Full-Time in Canada – This helps with financial stability.
Higher PR Chances – The spouse’s income can contribute to PR eligibility.
Emotional and Financial Security – No separation from your family members.
Many applicants hesitate to apply as a family due to fear of refusals, but applying together actually improves approval rates.
1.13 Can We Show Same Funds for Visitor Visa of Parents?
Yes, if you have already used funds for your spouse visa, you can reuse the same proof of funds for your parents’ visitor visa application, provided that the money is still available in your account.
1.14 Visitor Visa or Spouse Visa?
If you are eligible for a spouse open work permit, it is always the better option over a visitor visa. The acceptance rate for spouse visas is higher compared to visitor visas, which currently face a 62% refusal rate.
Some applicants believe applying for a visitor visa first will help them later apply for a spouse visa, but this is not recommended since visitor visa refusals can negatively impact future applications.
1.15 Final Thoughts: Be Smart About Your Application
Understanding the financial requirements for a spouse open work permit is crucial to avoiding refusals and delays. If you are unsure about your eligibility, consult with a trusted immigration expert who understands the latest regulations.
If you need assistance with your spouse open work permit, study visa, or PR application, feel free to contact us. We have helped over 500 families successfully immigrate to Canada, and we are here to guide you through the process.
2 Replies to “Funds for Spouse Visa”
Thanks so much i got your publication on spouse open work permit visa POF requirement. I have a family of 5. My spouse is currently in Canada with one of my child. I planned to go in with a SOWP visa with two other kids making it 5 in total. Please I need you to advise me how much do I really need to show for 5 of us. Two of us are already in Canada while 3 of us going in to join. I await your prompt response as we planned to submit our application tomorrow. Thanks.
Kindly contact us at +91 92429 92429 for a detailed discussion.