NSNP Nova Scotia Nominee Program Financial Requirements

Nova Scotia is a province known for its beauty, tasty cuisine, and high standard of living. If you are interested in living in this vibrant province, its Provincial Nominee Program may be the route for you.

Nova Scotia has opened its doors even wider with its Regional Labour Market Demand Stream of its Provincial Nominee Program. What’s so great about this Stream? You do not require a job, as long as you intend to pursue an occupation that is in demand in the province.

One of the questions you have to ask yourself before considering applying under the Regional Labour Market Demand Stream 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 Provincial 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 Provincial 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 Family Members

Funds Required(in Canadian dollars)

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.

A good rule of thumb is to bring as much money as you estimate you will need to move and find a home. But, keep in mind Canada Customs Regulations when bringing in large sums of money into Canada.

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