Canada Imposes Sh1.3 Million Minimum Wealth Requirement for Kenyan Migrants

Canada's Immigration Department has implemented new financial requirements for Kenyan nationals seeking to migrate to the country under the Express Entry program for skilled workers.

Effective June 2024, prospective Kenyan immigrants will be obligated to demonstrate possession of substantial funds as a prerequisite for their applications. The policy mandates that Kenyan applicants without dependents must provide proof of at least 1.3 million Kenyan shillings (equivalent to CAD 14,690) in accessible funds. This figure escalates proportionately to accommodate larger family sizes, with a stipulated sum of 1.7 million shillings for families of two, and 2.1 million shillings for those with three members. For each additional family member beyond seven individuals, an incremental 371,000 shillings (CAD 3,958) is required.

However, exemptions are granted to applicants who have already secured valid employment offers and the accompanying authorization to work in Canada. Notably, the policy emphasizes the requirement for legal and unencumbered access to the prescribed funds upon arrival in Canada. Real estate equity cannot be presented as a substitute for the settlement funds, and borrowed finances from external parties are inadmissible. Applicants must furnish official documentation from their financial institutions such as bank statements or letters, validating their possession of the mandated monetary resources.

The Canadian government has implemented this financial prerequisite with the dual objectives of facilitating the successful integration of Kenyan immigrants into Canadian society and upholding the nation's economic stability. Prospective Kenyan migrants are advised to diligently prepare and ensure compliance with these newly instituted requirements.