IRCC (Immigration, Refugees and Citizenship Canada) immigration plan is part of a bigger plan for the Canadian society. So it is imperative that immigrants integration to society happens as smoothly as possible. A big part of that is on the economical side - basically, every immigrant should be able to afford him/herself (and family) while settling down.
From the immigrant perspective, this is also important - the first months can get really expensive, and in many cases there won't be a steady source of income as one might take a while landing a job.
Of course, IRCC needs to make sure you have enough. And they way they do that is by asking you to prove it.
"Enough" is a very subjective term on this context. Therefore, IRCC stabilished a table with minimum amounts, based on number of family members.
These are minimum values, depending on how many family members are moving (including you):
|Number of family members||Funds required (in Canadian dollars)|
|For each additional family member||$3,560|
As important as the values itself, those funds must be readly available for you, so a house, for an example, cannot be used for this.
To prove you have those resources, you will need an official letter from your bank. Letter(s) must:
More details on IRCC website.
When you travel to do your landing, the immigration officer at the airport might ask you for this proof of funds as well.
Any document that is not in english or french must be translated by a certified translator. More information here.
Can I combine my money with my spouse's?
Yes, you just need a letter from each bank where you have your money saved;
Are those values enough to keep us there?
These are the minimum required values by the government. For an estimate on life costs in Canada, do a research on the specific area/city you plan to move.
My bank won't send me a letter with all these requirements. What should I do?
You can try to submit whatever your bank provided you with, along with statements from the website, and a letter explaining that your bank couldn't write on the required format. The most important is to be clear that you have the funds, that they are yours, and that they are available for you to use whenever needed.