Canada Hikes Proof Of Funds For Nigerians To N23m

The Canadian Government has jacked up its โ€œcost-of-living financial requirement for study permit applicants,โ€ basically for international students, to $20,000 from $10,000 starting from January 1, 2024.

The new price was announced in statement issued on Thursday by Canada’s minister of Immigration, Refugees and Citizenship, Marc Miller.

For a single applicants, from 2024, he/she would need to show they have $20,635, representing 75% of LICO, in addition to their first year of tuition and travel costs, adding, โ€œThis change will apply to new study permit applications received on or after January 1, 2024.โ€

โ€œStarting January 1, 2024, the cost-of-living financial requirement for study permit applicants will be raised so that international students are financially prepared for life in Canada.

โ€œFor close to two decades, study permit applicants for international students have remained at $10,000. This review, which takes effect from January 1, โ€˜will help prevent student vulnerability and exploitation,โ€™โ€ the statement further read.

The new rules from Canada comes days after the United Kingdom announced a new set of rules that would make it more difficult for Nigerians and other applicants to obtain a visa.

Home Secretary James Cleverly announced the changes in the House of Commons on Monday.

Some of the new rules put in place by the UK government include that for healthcare visa which prohibits overseas care workers from bringing their dependents. The government defines a dependant as a husband or wife, a civil partner or single partner, and children under the age of eighteen. For the skilled worker, the minimum salary requirement for obtaining a skilled worker visa, currently set at ยฃ26,000, has been increased to ยฃ38,700. This is a 50% increase.

For the shortage occupation list is a list that includes jobs that the UK government believes are hard to fill in the labour market for UK residents. These jobs have softer requirements for qualifying for sponsored work visas. However, that is about to change as a result of the new policy, which eliminates the 20% minimum wage reduction offered to those applying for a visa in Shortage Occupations.

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