Welcome to Canada: Preparing your finances
There are a lot of expenses as you look for a place to live and work, and as you get settled in your new community. That’s why we’re working with provinces, territories, and settlement services providers and other organizations across the country to help you.
The cost of living in Canada
Canada is a very big country. Because of this, the cost of living can be quite different depending on where you choose to live.
Big cities like Toronto and Vancouver are the most expensive places to live, especially when it comes to housing. Food, heating, clothing, transportation, and cellphone and Internet plans, in addition to rent, can take up to half your take-home pay. Keep these expenses in mind when deciding where you want to live.
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Open a bank account
One of the first things you should do when you arrive in Canada is open a Canadian bank account. This will let you get paid for work in Canada.
To open a bank account, you’ll need both of the following:
- your temporary resident status document [IMM 1442]
- This is your
- visitor record
- work permit
- study permit
- temporary resident permit
- This is your
- your passport
There are many different banks in Canada. If you want to save money, look for one that offers chequing and savings accounts for free. Some banks even let you apply online. However, you can always call or go in person too.
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Get help in different provinces and territories
Learn more about how to get different kinds of help in