The Federal Update Of The Amount Of Funds Required For FSW / FST Applications

Canada has updated the required funding levels for Federal Skilled Worker (FSW) and Federal Skilled Trade (FST).

Applicants will need documentation to prove sufficient funds to live on, which requirements include.

  • The financial institution’s logo on headed paper.
  • Include the institution’s address, phone number and email.
  • Include your name.
  • List outstanding debts, such as credit card debt and loans; and
  • Include the actual number of each bank and investment account, the date each account was opened, the current balance of each account, and the average balance for the past six months.

The federal government has not invited eligible applicants for the FSW and FST in the last six months, and there has been little news from them.

Originally, this living funds update was due in January 2021, but the federal government has pushed it back to July 2021, which is a good chance that the federal government is beginning to signal that it has plans to invite FSW and FST candidates.