What Is the IRCC Minimum Financial Requirement for Living Expenses in Canada?
IRCC requires international study permit applicants to demonstrate at least CAD 23,448, roughly INR 14.3 lakh, to cover one year of living expenses, excluding tuition and travel costs. This is the baseline figure, and actual costs can run higher depending on where in Canada you choose to live.
Before IRCC approves your study permit, you must prove you can financially support yourself for a full year in Canada, separate from your tuition payment. This minimum figure is the baseline you need to clear, though your real costs may be higher.
Minimum Financial Requirement
| Requirement | Amount |
|---|---|
| IRCC minimum annual living funds | CAD 23,448 (approx INR 14.3 Lakh) |
| Covers | One year of living expenses, excluding tuition and travel |
| Mandatory health insurance | CAD 750 to CAD 1,200 per year |
Why Your City Choice Matters
This minimum is a floor, not a realistic budget everywhere in Canada. Living costs swing significantly between expensive hubs and smaller regional centers, so the city you eventually settle in can push your actual annual spending well past this baseline figure.
My Advice
Do not plan your budget around the bare minimum alone, especially if you are targeting a major city. Add a comfortable buffer above CAD 23,448 so unexpected costs like health insurance renewals or a rent increase do not catch you off guard mid-year.
Cash income, business income or no ITR?
See whether your funds and documents will pass the Canadian visa check.
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