Japan: 5 countries offer work visas with proof of funds requirements

Most countries with work visas leading to permanent residence require minimum proof of funds from applicants.

People applying in these countries must demonstrate this to avoid becoming financially stranded.

These work visas play a crucial role in moving talent across borders, typically requiring sponsorship from employers who provide job offers, handle necessary paperwork and meet legal requirements.

This article will highlight the work visa pathways and proof of funds requirements of some of these countries. However, it is important to consult the official immigration sites of these countries for up-to-date information.

Germany

Germany announced it has 21 pathways to work, live or study in the country with job shortages in the following sectors: agriculture, construction and transport.

• The country has also simplified the process for skilled workers to obtain the Carte Bleue visa, including allowing foreign workers to obtain employment at a lower salary threshold.
• Blue card holders also benefit from an accelerated path to permanent residence, becoming eligible from 21 months after settling in Germany.
• When applying, the applicant’s bank balance must indicate a minimum amount of EUR 5,682.

Finland

Finland has announced plans to increase work-based migration by up to 30,000 people per year, as the country actively encourages international workers to address the growing labor crisis through its initiatives.

• Some of these initiatives include the “Work in Finland” and “Talent Boost” programs which provide opportunities for researchers and innovators.
• The country is actively seeking qualified professionals globally due to the growing labor shortage affecting vital sectors such as healthcare, personal care, social work, child care education and construction .
• Those applying for a residence permit must have sufficient funds to be able to live in Finland. You must have around 2,000 euros

New Zealand

New Zealand has expanded its green list to include a wide range of occupations in construction, information technology, automotive and engineering, which would allow it to use visas from the green list to search for hard-to-find specialized talent in the local workforce.

• New Zealand has also introduced a new visa program for eligible carers, offering the opportunity to permanently reside, work and study in New Zealand, including partners and dependent children under 24 years in the application.
• Applicants applying for their New Zealand work permit visa must provide proof of being in possession of at least NZD 4,200 when applying. Evidence may include bank statements, credit card statements, bank drafts or traveler’s checks.

Canada

The Saskatchewan Immigrant Nominee Program (SINP) in Canada has expanded opportunities for immigrants in Saskatchewan.

• This expansion includes 279 additional occupations, ranging from farm workers to truck drivers, retail salespeople, nurse’s aides and equipment operators.
• Canada also announced that employers in seven selected sectors (food manufacturing, wood product manufacturing, furniture and related product manufacturing, accommodation and food services, construction, hospitals and nursing and care facilities residential care) could continue to hire up to 30% of their workforce. in low-wage positions thanks to work permits for foreign talent.
• Since April 2023, people immigrating to Canada must meet specific financial requirements to ensure they can support themselves and their families upon arrival. These minimum settlement funds vary depending on the number of family members accompanying the principal applicant.
• For a single person immigrating to Canada, the required settlement fund is $13,757 CAD. If the applicant brings a family member, the amount increases to $17,127 CAD. For a family of three, the funds required are $21,055 CAD, while a family of four must demonstrate $25,564 CAD.

United Kingdom

The UK government is still open to hiring foreign talent as long as they earn £38,700 ($48,900), compared to the current £26,200 ($33,000) to obtain a work visa.

• This rigorous immigration reform aims to significantly reduce the annual immigration number by several hundred thousand.
• Successful applicants must, however, have at least £1,270 in their bank account to prove they can support themselves in the UK, and must have had this money available for at least 28 consecutive days.

Cyprus

Cyprus has introduced its Golden Knowledge program allowing foreign nationals in the “research and innovation” sector to apply for fast-track citizenship via a fast-track process.

• Furthermore, the country recently indicated that it urgently needs to recruit nurses from third countries.
• Therefore, those seeking to stay longer than three months for purposes such as employment, study or family reunification must have sufficient proof of funds.
• Applicants must therefore demonstrate that they have a minimum income of EUR 2,000 per month, with additional income requirements for family members. Proof of at least EUR 10,000 in a bank account in Cyprus is also required.