How Much Money You Need to Immigrate and Settle in Quebec: IRCC Requirements vs. Reality
Immigrating to Canada – especially to Quebec – requires not only meeting Immigration, Refugees and Citizenship Canada (IRCC) financial requirements, but also preparing for the real cost of living once you arrive. Below we break down how much money you need to show by IRCC’s standards for different visas and programs, and how much you realistically should have to settle in Quebec (comparing costs in Montreal vs. smaller Quebec cities).
IRCC Financial Requirements by Visa/Program
IRCC and the Quebec government set minimum funds or income thresholds for many immigration programs. These are meant to ensure newcomers can support themselves initially. Here’s an overview by category:
Express Entry (Federal Skilled Worker/Trades Programs): If you apply for permanent residency via Express Entry without a Canadian job offer, you must show “proof of funds.” The required amount depends on your family size. For example, a single applicant needs at least CAD $15,263, and a family of four needs $28,362 in available savingscanada.ca. (These figures are updated annually; as of July 2025 they increased to these levels to match 50% of Canada’s low-income cut-offcanada.ca.) This money cannot be borrowed – it must be your own, available funds to cover initial settlementcanada.ca.
Quebec Skilled Worker (Permanent Residency through Quebec): Quebec has its own requirement called the financial self-sufficiency contract. Applicants must sign a pledge that they have minimum settlement funds as defined by Quebec. The amounts are relatively low – for instance, around $3,770 for a single adult and about $5,529 for a couple (with small increases for each child)canadavisa.comcanadavisa.com. These funds are meant to cover your basic needs upon arrival. While the Quebec amounts are modest, they are a minimum. You are only awarded a small number of points for meeting this threshold, so it’s wise to have more savings than the bare minimum.
International Students (Study Permits): When you apply for a study permit, you must prove you can pay tuition plus living expenses for at least one year. IRCC recently increased the required living funds for students outside Quebec – now CAD $20,635 per year for a single student (not including tuition)canada.ca. This base amount rises with additional family members (e.g. about $38,346 for a family of four, not including tuition)canada.ca. Starting Sept 1, 2025, the requirement will rise further (about $22,895 for one student per year)canada.ca. For Quebec-bound students, the provincial government sets a slightly different standard: roughly $15,000 in living expenses per year for one adult studentmoodle.merici.ca, plus any tuition costs. (Example: Quebec’s 2024 rules required $15,078 for one student’s living cost, and around $22,115 if a spouse is accompanying)moodle.merici.ca. Quebec also expects an extra ~$500 for first-year settlement (e.g. for installing housing)moodle.merici.ca. These funds must be proven through bank statements, scholarships, or sponsor support before a study permit (or Quebec’s CAQ) is approved.
Working Holiday (PVT – Permis Vacances-Travail via International Experience Canada): This is a temporary open work permit for youth. At the port of entry, participants must show a recent bank statement proving about CAD $2,500 in savingscanada.ca. This amount is deemed enough to cover your first 3 months in Canadacanada.ca. You may also need to show you have a return ticket or funds for one, and you must have travel insurance for the duration of your staycanada.cacanada.ca. The $2,500 is a minimum – it’s prudent to have more, since $2.5k won’t last very long in a Canadian city.
Spousal or Family Sponsorship (Permanent Residency): For sponsoring an immediate family member like a spouse or child, IRCC does not set a specific dollar amount to show in savings. There is no up-front settlement fund requirement for spousal sponsorship – the sponsor must simply promise to support the person and meet basic income needs (and not be on social assistance). However, for Parents and Grandparents sponsorship, there is a strict Minimum Necessary Income (MNI) that the sponsor must have earned for the past 3 years. This is not a lump sum to show, but an income threshold. For example, a sponsor supporting a family of 4 (e.g. two adults plus two parents) needed an income of about $66,000 in 2023 (and similarly high incomes in 2021–2022) to qualifycanadavisa.com. In Quebec, the sponsorship income requirements are slightly different (Quebec uses its own income scale which for 4 people was about $54,135 base in 2024, plus an additional amount per sponsored parent)canadavisa.comcanadavisa.com. The key point is that bringing parents requires demonstrating a high, stable income – a recognition that taking care of additional elderly family members can be costly.
Temporary Work Permits (LMIA-based or others): If you are coming to Canada on a work permit with a job already lined up (for example, an employer-specific work permit), IRCC typically does not mandate a specific proof of funds the way they do for Express Entry or study permits. The job offer and salary itself indicate financial support. However, it’s recommended to have some savings for initial expenses. A common guideline is to have at least a few thousand dollars accessible. You might need money for the first month’s rent, security deposit, utility setup, and waiting for your first paycheck. While there’s no formal number, arriving with a financial cushion (perhaps $2,000–$5,000 or more, depending on family size) is wise so you’re not in a tight spot before your earnings kick in.
Bottom line: IRCC’s official requirements ensure you meet minimum financial criteria. Meeting these means you can enter Canada or get approved – but are those amounts truly enough to live on? In many cases, IRCC’s minimum is just to survive the first few monthscicnews.com. Next, we compare those figures to the real-world costs of living in Quebec to see how far that money will go.
The Real Cost of Living in Quebec (Montreal vs. Smaller Cities)
Life in Canada – and especially in Quebec’s cities – can be expensive, and newcomers should budget accordingly. While Montreal is often cheaper than Toronto or Vancouver, the cost of living in Quebec has been rising steadily in recent years. Key expenses like housing, groceries, and transportation will quickly eat into the funds you bring. Let’s look at some data on living costs and how they vary between Montreal and smaller Quebec cities:
Housing Costs: Rent is usually the biggest monthly expense. In Montreal, rents have climbed rapidly. In 2024 the average rent for a one-bedroom apartment in Montreal reached about $1,805 per month, up nearly 14% from the year beforevistoo.com. By 2025, projections put a Montreal 1-bedroom around $1,900+ per monthvistoo.com. In Quebec City (a smaller urban center), one-bedroom rents average around $1,300–$1,400 per month – notably cheaper than Montreal, but still significantvistoo.com. For example, a 1-bedroom in Quebec City averaged $1,319 in 2024 (15% increase from 2023)vistoo.com. Smaller cities like Sherbrooke or Trois-Rivières are more affordable yet: rents in Sherbrooke can be roughly 35% lower than in Montrealnumbeo.com, with some one-bed units in the ~$800–$1,000 range. However, cheaper rents may come with trade-offs – fewer available units, older apartments, or the need to commute longer distances. It’s also common to pay a damage deposit or one month’s rent upfront when you sign a lease, which means you’ll need a lump sum on arrival for housing. Keep in mind that housing costs in Quebec (even outside Montreal) have been rising above inflation due to high demandvistoo.com, so budget for potential rent increases as well.
Groceries and Food: Food prices in Canada have been high due to inflation. An adult in a Canadian city might spend roughly $400–$550 per month on groceries for a normal dietcicnews.com. This can be a bit lower in smaller towns if you shop carefully, but not dramatically so – grocery chains price items fairly uniformly across the province. In fact, some smaller communities have higher food prices due to less competition or the need to import produce. A realistic food budget for a single person in Quebec could be around $75–$100 per week for basic groceries. Eating out is also costly: a simple restaurant meal in Montreal might be $20–$25, and about the same or only slightly less in a smaller citynumbeo.com. Overall, Montreal and Quebec City grocery costs are near the national average. Expect to allocate a few hundred dollars a month per person for food, and more if you prefer organic or international products.
Transportation: If you live in Montreal, you have access to decent public transit. A monthly public transit pass in Montreal costs about $94 for one zone (as of 2025; $56 for students, higher if you need all zones) – relatively affordable by North American standards, and it gives unlimited metro and bus use. In comparison, smaller Quebec cities (Quebec City, Sherbrooke, etc.) have bus networks where a monthly pass might cost around $90. If you’re outside the city cores, you may need a car, which introduces new expenses: car payments or purchase cost, insurance, fuel, parking, winter tires, maintenance, etc. Owning a car in Quebec can easily cost several hundred dollars per month. (For example, just insurance and gas might be $200+ monthly, not counting the vehicle price.) Many newcomers in Montreal avoid buying a car initially and use transit to save money. In a suburb or smaller town, however, you might have no choice but to budget for a vehicle. When planning your finances, consider how you’ll get around – urban dwellers should set aside money for transit (and occasional Uber/taxi), whereas rural newcomers should estimate the full costs of car ownership.
Utilities and Other Bills: In Quebec, heating (often electric) can be a significant utility cost, especially in winter. If your rent doesn’t include heating, budget for electricity bills that could average $50–$100 per month for a small apartment (more in winter, less in summer). High-speed internet costs around $60–$80 per month in most of Quebec. A cellphone plan might be $40–$60 monthly for a few gigabytes of data (Canada’s telecom rates are relatively high). These costs don’t usually vary much between Montreal and smaller cities – telecom and energy prices are provincially regulated, so you’ll pay similar rates province-wide. One exception: if you live in an older, less insulated house (more common outside big cities), heating costs could be higher. Always check which utilities are included in rent and which you must pay on top.
Childcare and Schooling: If you’re moving with children, Quebec has subsidized childcare (daycare) which is very affordable – around $8.85 a day in subsidized centres. However, spots are limited, and in the interim you might pay market rates for private daycare (which can be $30–$40 a day per child). Public schools (K-11) are free to residents, but if you’re on a temporary status (like a work or study permit), there could be school fees in some cases. Also budget for children’s expenses like clothing (those winter outfits add up!), school supplies, and activities.
Initial Setup Costs: Settling in comes with one-time expenses that can be substantial. When you first arrive, you may need to furnish your home (even a used bed, table, chairs, kitchen items can cost hundreds of dollars). You’ll likely need to buy seasonal clothing, especially proper winter gear if you don’t have any – a good winter coat and boots for a Montreal winter might cost $300 or more, though cheaper options exist. Don’t forget smaller purchases like adapters for electronics, deposits for utilities or internet setup, and maybe temporary accommodation (e.g. staying in an Airbnb for a couple weeks before you find a rental). These upfront costs mean that if IRCC required, say, $15,000 in proof of funds, a chunk of that could be spent before you’ve even settled into a routine.
Montreal vs. Smaller Quebec Cities: Cost Comparison
Living in Montreal versus a smaller city in Quebec can make a difference in how far your money goes. Montreal, being the province’s economic hub, has higher rents and slightly higher prices for some services. Smaller cities and towns offer cheaper housing on average, but other costs (food, gas, utilities) don’t drop as dramatically. Here are a few comparisons to illustrate the differences:
Overall Cost Level: One analysis shows that the cost of living (including rent) in a city like Sherbrooke is about 18% lower than in Montrealnumbeo.com. The biggest factor is rent, which is often 30–40% cheaper outside Montrealnumbeo.com. Day-to-day expenses like groceries and restaurants might be ~10% lower in a smaller citynumbeo.com, but not drastically different.
Income and Job Factor: Montreal’s salaries can also be higher on average than those in smaller regions. So while you might spend more in Montreal, you might also earn more if you find a job there. In contrast, a smaller city may offer fewer job opportunities or lower wages, meaning you must rely more on savings initially. It’s important to plan for a potentially longer job search if you settle in a small town. The IRCC settlement funds are meant to cover basic living while you find employmentcicnews.com, but if job prospects are slim locally, you’ll need a larger financial cushion.
Example – Single Person Budget: Imagine a single newcomer in Montreal versus in a mid-sized Quebec city. In Montreal, monthly expenses might look like: $1,500 rent for a studio, $400 groceries, $100 transit, $100 phone/internet, $150 misc. – roughly $2,200 per month. In a smaller city, it could be: $900 rent, $380 groceries (slightly lower), $150 car expenses (if transit is limited), $100 phone/internet, $100 misc. – around $1,630 per month. Over a year, that Montreal newcomer might need about $26,000 to cover living costs, whereas the small-city newcomer needs around $19,500. This simple scenario shows that IRCC’s proof of funds (e.g. ~$15K for one person) would barely cover 6–8 months in Montreal, or perhaps up to a year in a cheaper town, assuming no income in that period. And these estimates are conservative – they don’t include big one-time costs or emergencies.
Family of Four Example: For a family of 4, the differences multiply. IRCC asks a family of four to have about $28,362 in fundscanada.ca to immigrate under Express Entry. In reality, a family of four living in Montreal might easily spend $4,000–$5,000 per month on living expenses (e.g. $2,200 rent for a 3-bedroomvistoo.com, $800+ on food, $200 on transit, $300 on utilities/phones, and so on). That suggests an annual budget of $50–$60k, which far exceeds the minimum $28K that let them in. Even in a cheaper Quebec city where rent for a 3-bedroom might be $1,700vistoo.com, the family could spend $3,500+ per month ($42k/year). Having only $28k in savings would mean you must secure income very quickly to avoid hardship.
Bridging the Gap: Financial Preparation for Reality
It’s clear that IRCC’s minimum fund requirements are a starting point, not a full picture of what you’ll need. IRCC wants to see that you can survive initial months, but thriving in Canada requires more planning. A CIC News analysis put it succinctly: the official settlement funds will help you “survive, but how much do you need to thrive?”, noting that basic cost of living in many cities tops $1,500 a month before rentcicnews.com. Here are some tips to bridge the gap between minimum requirements and real-life needs:
Aim to Save More Than the Minimum: If IRCC says you need $15,000, consider bringing significantly more if possible – double, if you can. This provides a buffer for unexpected costs or a slower job hunt. Newcomers often underestimate costs like apartment deposits, winter clothing, or even just the expense of job searching (transportation, networking, possibly re-certifying credentials, etc.).
Research Your Destination’s Costs: As we’ve shown, Montreal is pricier than, say, Saguenay. Research the specific city or town you plan to live in. Look up rental listings to gauge housing costs, check grocery flyers, and use cost-of-living comparison tools. This will help you make a realistic budget. If you’re moving to Montreal, budget high for rent. If you’re moving to a smaller city, factor in the cost of a car if public transit isn’t great. Knowing the local costs ahead of time prevents unpleasant surprises.
Consider Temporary Economies: In the first few months, you can stretch your funds by living modestly. Many newcomers rent a room or a small apartment first, instead of a large place, to save on rent until income stabilizes. Montreal, for example, still has some shared accommodations for ~$500–$700/month for a roommoving2canada.com – a fraction of the cost of a one-bedroom condo. You can also buy furniture second-hand, cook at home instead of eating out, and take advantage of newcomer discounts or community resources (some cities have newcomer centres that guide you to affordable services).
Emergency Fund: Life is unpredictable. Having an emergency fund beyond your day-to-day budget is crucial. This could cover medical needs not insured, urgent travel back home, or replacing a broken laptop (needed for work or study). Try not to tap into this emergency stash for regular expenses – treat it as untouchable except for true emergencies. A common recommendation is to have 3–6 months’ living expenses in reserve in addition to your planned budget.
A Note on Quebec’s High Taxes and Benefits: Quebec has some of the highest income taxes in North America, which will affect your take-home pay once you start working. The trade-off is that daycare, education, and some services are cheaper or subsidized. For instance, the low daycare fees can save a family thousands of dollars a year compared to other provinces. Healthcare is free and universal in Canada (including for permanent residents, and for temporary residents after the waiting period and with the proper insurance/coverage). These factors don’t reduce the upfront cash you need, but they can ease certain costs down the road. It’s good to be aware that your net incomeafter taxes will be lower in Quebec, so budget accordingly and use the public services to your advantage to save money (e.g. public healthcare, affordable education in French, etc.).
In summary, when planning your move to Canada or Quebec, use IRCC’s fund requirements as the floor, not the ceiling. The reality on the ground is that life in Quebec is not cheap, especially in the vibrant city of Montreal. Housing and everyday expenses will burn through money quickly. If you only have the bare minimum required, you’ll need to find a job almost immediately and live very frugally to get by. Ideally, come with more funds than asked, or a clear plan for income, to ensure you can comfortably settle.
Having solid savings doesn’t just satisfy a visa requirement – it buys you peace of mind. You’ll have the flexibility to take time to find a good job fit, settle your family, and adjust to your new life in Canada without the panic of running out of money. The goal is not just to immigrate, but to successfully establish your new life in Quebec. That is much easier to do when you’ve prepared financially for the real costs, not just the immigration checkbox. As IRCC’s settlement fund policy implies, they want you to avoid financial hardship when you arrive. So take those numbers, and if you can, pad them to reflect the real world – your future self in Montreal (or Quebec City, or Sherbrooke) will thank you.
Sources:
IRCC Proof of Funds for Express Entry (2025 update)canada.ca – Official minimum funds required for Federal Skilled immigrants (e.g., single person $15,263; family of four $28,362).
Quebec Skilled Worker Financial Self-Sufficiencycanadavisa.com – Minimum settlement amounts in Quebec’s immigration program (e.g., $3,770 for one adult).
IRCC Study Permit Financial Support Requirementscanada.camoodle.merici.ca – Required funds for students in Canada vs. Quebec (e.g., ~$20,000/year outside Quebec, ~$15,000/year in Quebec for living expenses).
IRCC International Experience Canada (Working Holiday) Fundscanada.ca – Proof of funds ($2,500 for 3 months) needed when arriving on a working holiday visa.
Family Sponsorship Income Requirements (IRCC & Quebec)canadavisa.comcanadavisa.com – Example of the high income needed to sponsor parents (e.g., ~$66k for a household of 4 in 2023 outside Quebec) and Quebec’s income threshold for sponsors.
Cost of Living Data: CIC News analysis of living costs vs. IRCC fundscicnews.com; Vistoo report on Quebec rent averages and increasesvistoo.com; Numbeo comparisons of Montreal vs. Sherbrookenumbeo.com. These show that living in Montreal can cost upwards of $1,500 a month before rent and that Montreal rents are ~36% higher than smaller Quebec citiesnumbeo.com, underscoring the need for a larger financial cushion to settle comfortably.

