Moving to Canada is a dream for many, but the journey can quickly become financially overwhelming without a smart plan. With the right steps, however, it’s entirely possible to move to Canada without going broke.
This guide outlines what to do before departure, the best immigration pathways, and essential precautions for settling in—so that the transition is smooth, affordable, and sustainable.
Start Smart Before You Move to Canada
Most of the essential groundwork happens before ever stepping foot in Canada. Preparation in your home country can significantly reduce stress and avoid unnecessary expenses after arrival.
Build a Solid Financial Plan
Canada is not cheap, especially when you’re starting from scratch. Start saving early. You’ll need to show proof of funds for most immigration pathways. For example, if you’re applying through Express Entry, the Government of Canada requires between CAD 13,757 to CAD 36,407 depending on your family size (2024 figures).
Pro tip: Open a multi-currency bank account in your home country. This helps manage currency conversion fees and international transfers more efficiently.
Gather All Documents in Advance
Proper documentation is crucial. These include a valid passport, birth certificate, language test results, and academic transcripts. Proof of language proficiency through standardized tests such as the IELTS (for English) or TEF Canada (for French) is usually required.
It is also essential to get foreign degrees assessed through an Educational Credential Assessment (ECA). One of the recognized services is WES (World Education Services). For details, visit the WES Canada site.
Choose the Best Pathway to Move to Canada
Understanding the various immigration streams is key to choosing the most efficient and affordable route to Canada.
Express Entry – Fast but Competitive
The Express Entry system is ideal for skilled professionals with strong language scores, education credentials, and work experience. It operates on a points-based system known as the Comprehensive Ranking System (CRS). Candidates can calculate their CRS score using the official government tool.
A high CRS score increases the chances of receiving an Invitation to Apply (ITA) for permanent residency, often within six months.
Read: 5 Things to Know about Canada’s Express Entry Program
Provincial Nominee Programs (PNPs)
Canada’s provinces and territories also offer Provincial Nominee Programs (PNPs), which target workers in high-demand occupations. PNPs can be an excellent alternative for those who do not meet the federal Express Entry cutoffs. For example, provinces like British Columbia, Ontario, and Nova Scotia offer tech and healthcare-focused streams.
Check the PNP overview page to see which province matches your skills.
Study First, Work Later
Studying in Canada can be a golden ticket—if you do it right. International students can apply for a Post-Graduation Work Permit (PGWP) after completing their studies, which provides valuable Canadian work experience—a key factor in immigration eligibility.
To lower costs, applicants can explore fully funded scholarships such as the Vanier Canada Graduate Scholarships, or individual university awards.
Browse the latest study in Canada scholarships.
What to Do (and Not Do) After You Move to Canada
The initial months in Canada are critical. Early decisions can have a long-lasting impact on financial and emotional well-being.
DO: Apply for a SIN Immediately
The Social Insurance Number (SIN) is required for employment, banking, and access to public programs. It can be obtained online or at any Service Canada location. Application details are available on the official SIN page.
DO: Get Local Identification
A government-issued ID such as a provincial photo card simplifies everyday tasks, from opening a bank account to signing a lease. Each province has its own issuing authority and requirements.
DO: Register for Free Settlement Services
Newcomers should take advantage of government-funded support programs. These include language training, career services, and community integration. Organizations like YMCA, ACCES Employment, and ISSofBC provide these services free of charge. An official list is available via the IRCC newcomer services tool.
Common Don’ts When Settling in Canada
Avoiding certain missteps can prevent unnecessary expenses and delays.
DON’T Overestimate Your Job Prospects
Even with experience, finding a job in Canada takes time. Many professions in Canada are regulated, requiring local certification or licensing. Examples include healthcare, engineering, and law.
Before arrival, it’s wise to consult the Canadian Information Centre for International Credentials (CICIC) at cicic.ca to verify licensing requirements.
DON’T Skip Health Insurance
Some provinces impose a 90-day waiting period before public healthcare becomes available. During this gap, newcomers are advised to purchase private health insurance. Companies such as Manulife and Blue Cross offer temporary coverage plans tailored for new arrivals.
Precautions for Newcomers in Canada
Avoid High-Rent Traps
Rental costs in major cities like Toronto and Vancouver are among the highest in the country. Newcomers should avoid signing long-term leases before arrival. Starting with short-term rentals or shared accommodations is often safer and more cost-effective. Websites like Kijiji and local Facebook groups can be useful for finding temporary housing.
Protect Against Scams
Newcomers are frequently targeted by fraudsters. Common scams include fake job offers, rental fraud, and phishing emails that appear to come from government agencies. The Canadian Anti-Fraud Centre maintains a list of current scams and prevention tips, accessible here.
Build a Credit Profile Early
Your credit score matters in Canada—from renting to financing a phone. Consider applying for a secured credit card soon after arrival. These cards are available to individuals with no Canadian credit history and can help build credit gradually. Providers such as Home Trust and Capital One are common starting points.
Final Thoughts
To move to Canada without going broke, you need a plan, patience, and the ability to pivot. By preparing financial documents, selecting the most suitable immigration pathway, and avoiding common pitfalls in the early days, newcomers can significantly reduce costs and stress.
Canada is full of opportunities for education, work, and quality of life—but preparation is key. Take advantage of official resources, build local connections, and make informed choices every step of the way.
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