There has been some confusion lately about the financial requirements for temporary and permanent residency. Several well-known blogs have published articles that the financial requirements for residency have changed and been lowered for 2021. This is partly true but not really. The reason for these articles is because Immigration adopted a new formula for calculating financial requirements. This new formula is called the UMA formula.
This has caused a lot of confusion and misconceptions leading people to believe that they now qualify for residency when in fact they may not. So, what does this mean for those applying for residency? Do I now qualify when I didn’t before? What are the misconceptions?
Well, I’m going to try and answer these questions in this video using temporary residency requirements as an example.
My video on Temporary Residency https://youtu.be/mcPVu5aoW2Q
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