Nova Scotia recognizes that immigrants are an asset to the province. In this regard, Nova Scotia allows for several ways to immigrate to the province. One of the options is through the Regional Labour Market Demand Stream of the Nominee Program. Under the Regional Labour Market Demand Stream you are not required to have a job offer. However, your intended occupation must be on the In Demand List of Occupations outlined by the Nominee Program.
Even if your intended job is on the In Demand List of Occupations, there are several other criteria you must meet to be eligible for the Regional Labour Market Demand Stream. One such criteria is whether you have the funds required to establish yourself in the region in Nova Scotia where you intend to live.
How Can I Assess Whether I Have Sufficient Funds?
It is important to determine whether the Nova Scotia Nominee Program will consider you to be an applicant with enough funds to be eligible for the Regional Labour Market Demand Stream.
Consider the following checklist in assessing your financial situation:
- You have enough funds to support yourself and your dependents
- Funds must be in your name alone or in the name of yourself and accompanying dependents
- You cannot borrow the funds you will be using to establish yourself in Nova Scotia from an institution or from another person
- You must be able to use this money for settlement and to initially support the costs of living for you and your family
Supporting Your Family
When assessing whether you have the required funds for the Nominee Program Regional Labour Market Stream, one of the key considerations is whether you are able to support your family.
The amount of money you need to support your family, for the purposes of the Regional Labour Market Stream is summarized in the following chart:
|
Number of |
Funds Required |
|
1 |
$11,115 |
|
2 |
$13,837 |
|
3 |
$17,011 |
|
4 |
$20,654 |
|
5 |
$23,425 |
|
6 |
$26,419 |
|
7 or more |
$29,414 |
How Much Money is Enough?
The best way to determine how much money will be considered sufficient for the Regional Labour Market Stream, is to look into the cost of living in the region you intend to reside in.