Immigrating to Canada: The cost to consider
Immigrating to Canada can be an exciting milestone. However, you need to be well-informed and know what it's going to cost. Here are some useful tips to help you prepare for your arrival in Canada.
Your budget: Your gateway to peace of mind
Budgeting costs is an important part of any major undertaking. Even before you move, you should have a good sense of your finances and your financial capacity. This will help you determine how much you need to set aside. Keep reading to find out what some of your key expenses will be.
Your budget also needs to take into account any government financial requirements. These requirements vary depending on the program you’re applying for, whether it’s to come as a temporary foreign worker, an international student, a Working Holiday Visa (WHV) candidate or a permanent resident.
In some cases, you’ll need to demonstrate that you can meet your and your family’s needs. This is called a proof of funds. You may need to provide this as part of your application.
For more information, visit: Prepare financially – Canada.ca
Good to know
What costs do you need to consider? Here's a short, non-exhaustive list to help you get started!
Before you leave
Plane tickets
Be sure to look for flights ahead of time to find a good deal or seat sale (check the websites for different airlines).
When you arrive
Getting settled
Some of the immediate costs you'll need to budget for are housing, clothing, phone and internet. Take some time to research how much these will cost for you, depending on your family situation and which city or province you'll be living in.
Housing
Renting an apartment or house – Canada.ca
Looking for housing – Société d'habitation du Québec (Quebec only)
Housing and accommodations in Canada – EduCanada.ca (Students)
Transportation
Purchase or leasing of a vehicle | Gouvernement du Québec (Quebec.ca) (Quebec only)
Modes of transport – Transports et Mobilité durable Québec (Quebec, in French only)
Phone and internet
Canadian Radio-television and Telecommunications Commission | CRTC
Insurance*
- Car Insurance
In Canada, anyone who buys or leases a vehicle is required by law to get auto insurance before taking it out on the road.
- Tenant insurance
Since your landlord’s home insurance doesn’t cover your personal property, you should consider getting tenant insurance. This gives you protection for your belongings, such as furniture, electronics and clothes, in case of theft, fire or certain types of water damage. Tenant insurance can also include civil liability coverage in case you inadvertently injure someone or damage their property. It could also cover certain additional expenses if you’re forced to temporarily relocate due to a covered loss.
To learn more :
How insurance works - Canada.ca
Our insurance products – Desjardins
Renters (Tenant) Insurance Quote Online - Desjardins
- Health insurance (Quebec only)
Learn about health care in Canada by visiting: About Canada’s health care system – Canada.ca.
Quebec has signed social security agreements with certain countries. If you’re from a country that Quebec hasn’t signed an agreement with, you’ll need insurance to cover the waiting period of up to 3 months after you register.
For more information, visit: Régie de l’assurance maladie du Québec (RAMQ)
Good to know
Visitors to Canada Insurance** is designed for people who are only in Canada temporarily or are waiting to be covered under a provincial public insurance plan. It provides health and emergency coverage in case you unexpectedly fall ill or have an accident during your stay. For more information, see: Visitors to Canada Insurance.
International money transfers
Desjardins offers the option of sending international money transfers. This way, you can send funds to the US and many other international destinations quickly and securely. You can find more details here.
To help you manage your budget and prepare for your arrival in Canada, check out the Your budget tool at Desjardins.com.
These tips are general and provided for information purposes only. They are not personalized recommendations and Desjardins cannot be held liable for them under any circumstances. Readers should exercise caution and consult the right resources or qualified professionals to get complete information that applies to their situation and needs.
* Desjardins Insurance refers to Desjardins General Insurance Inc., provider of home, auto and business insurance in Quebec, and Certas Direct Insurance Company, underwriter of home and auto insurance in Ontario and Alberta. Certain conditions, limitations and exclusions may apply.
** Visitors to Canada Insurance is underwritten by Desjardins Insurance, which refers to Desjardins Financial Security Life Assurance Company. Certain conditions, limitations and exclusions may apply.
Desjardins®, Desjardins Insurance®, trademarks containing the word Desjardins, as well as related logos are trademarks of the Fédération des caisses Desjardins du Québec, used under licence.