Expenses in Canada

English: Pie chart of the area of provinces and territories of Canada. (Photo credit: Wikipedia)

When you move to Canada, your expenses may be different from those you are used to. Canada is a very large country, and costs can vary significantly depending on where you live. When you move to Canada, it's helpful to know a little about the money that you'll be using when you get there.

Coins come in six denominations. Each is a distinct size, shape and color for easy identification.

• penny = 1¢
• nickel = 5¢
• dime = 10¢
• quarter = 25¢
• dollar = $1.00 (known as the "loonie")
• two dollar = $2.00 (known as the "toonie")

Paper money is all the same size, but each bill is different in color.

• $5 - blue
• $10 - purple
• $20 - green
• $50 - red
• $100 - brown

It's a good idea to exchange some of your money into Canadian currency before you leave your home country, so that you have cash on hand for small purchases as soon as you arrive. Once you're here, there are several ways to exchange your money for Canadian currency.

Housing

You've arrived in Canada. One of the most important tasks ahead of you is finding a place to live. This is likely to be one of your biggest expenses.

Many people rent their home for their first few years in Canada, which usually costs less than buying a home.

Average Cost of a house in Canada and Renting in Canada
	Avg. Cost of House*	Avg. Monthly Rent for 2 Bedroom**
British Columbia	$ 461,931	$ 1,045
Alberta	$ 346,955	$ 884
Saskatchewan	$ 234,655	$ 613
Manitoba	$ 204,465	$ 709
Ontario	$ 325,364	$ 931
Quebec	$ 228,184	$ 738
New Brunswick	$ 160,400	$ 637
Prince Edward Island	$ 148,885	$ 642
Nova Scotia	$ 203,725	$ 799
Newfoundland and Labrador	$ 211,844	$ 651
Yukon	$ 281,420	$ 556
Northwest Territories	$ 331,696	$ 1,365
* Source: June 2009 The Canadian Real Estate Association ** Source: Study in Canada

Utilities

You will need to set aside money in your budget to cover these essential services.

• Heat - most homes in Canada are heated by natural gas, oil or electricity.
• Electricity - your home will also require electricity to power lights, electronic equipment, appliances and air conditioning units.
• Water - if you live in or near a city, the municipality will charge a fee for providing water and sewage services.

Average Cost of Living in Canada
Utilities (Monthly)	$20 - $100
Phone (Monthly)	$20 - $40
Cell Phone (Monthly)	$40
Cable (Monthly)	$25 - $50
Internet (Monthly)	$40
Groceries(1-2 Person Monthly)	$200-$300
Transportation (One way)	$2.75
Fast Food Meal (1 Person)	$4 - $6
Average Restaurant Meal (1 Person)	$10 - $25
Gas	$1.15 - $1.50 / Liter
Entertainment (Movie)	$11.50 - $13
*** Source: Study in Canada

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What does it cost to live in Canada?

Apartment buildings in the English Bay area of Vancouver, British Columbia, Canada. (Photo credit: Wikipedia)

The vast size, varied climate and population distribution of Canada mean that costs of living can vary from one area to another. There may also be some expenses that you weren’t expecting before you arrived.

Here are some typical costs for items and services in Canada. Please note all figures are in Canadian funds.

Rent—Bachelor Apartment (1 room apartment, 1 month, large city)	$700–$1,100
Rent—Bachelor Apartment (1 room apartment, 1 month, small city/town)	$500–$700
Water, Gas and Electricity (1 month) - Apartment	$150
Water, Gas and Electricity (1 month) and Sewage – Single Family house	$400
Car Insurance for a mini Van of $35,000, 250 deductible and 2 drivers with very good history	$1350
VOIP Phone (1 month, including long distance)	$30–$40
Cheapest Cell Phone Package (1 month) with Unlimited Data	$40
Cable Television (1 month)	$25–$50
Internet Connection (high speed, 1 month)	$50
Groceries for One Person (1 month)	$200–$300
1 Dozen Eggs	$2–$3
Bag of Rice (20 pounds) – High Quality	$20
Bus Fare 1-Way (local)	$2.25
Fast Food Meal (hamburger, soft drink, french fries)	$4–$6 per person
Average Restaurant Meal	$10–$25 per person
Coffee from Specialty Coffee Shop	$1.70
Admission to Nightclub	$0–$15
Gas/Petrol	$1.15–$1.50 per litre
Movie	$11.50–$13
Pair of Jeans	$40–$80
Pair of Running Shoes	$60–$200
Return Flight from Vancouver to Toronto	$300–$1,200
Letter within Canada	$0.57
International Postage (letter)	$1.70
Interest Rate on Savings	.5%

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New Start-Up Visa opens for applications on April 1

English: Diagram of venture capital fund structure for Venture capital (Photo credit: Wikipedia)

Ottawa, March 28, 2013 — The world’s best and brightest entrepreneurs from around the world, with ideas for new business ventures and financial backing from Canadian investors, can apply to the brand-new Start-Up Visa Program as of April 1, Citizenship, Immigration and Multiculturalism Minister Jason Kenney announced today.

“Canada is open for business to the world’s start-up entrepreneurs,” said Minister Kenney. “Innovation and entrepreneurship are essential drivers of the Canadian economy. That is why we are actively recruiting foreign entrepreneurs - those who can build companies here in Canada that will create new jobs, spur economic growth and compete on a global scale - with our new start-up visa.”

Canada’s Start-Up Visa Program is the first of its kind in the world. By providing sought-after entrepreneurs with permanent residency and access to a wide range of business partners, Canada hopes to become a destination of choice for start-up innovators which will help Canada remain competitive in the global economy.

CIC has worked with two umbrella organizations, Canada’s Venture Capital and Private Equity Association (CVCA) and the National Angel Capital Organization (NACO), to identify and designate the venture capital funds and angel investor groups that are keen to participate in the program. Immigrant entrepreneurs hoping to launch cutting-edge businesses in Canada and attain permanent resident status need the support of participating Canadian investors. A full list of designated venture capital funds and angel investor groups is now available on the Citizenship and Immigration Canada website.

"The CVCA and our individual members look forward to the launch of the Start-Up Visa Program,” said Peter van der Velden, President of the CVCA. “Our participating funds welcome the opportunity to take part in this first-of-its-kind program, which has the potential to help them attract best-in-class entrepreneurial talent to their Canadian-based investee companies.”

"There has been significant interest from both angels and entrepreneurs since the announcement of this program," said Michelle Scarborough, Chair of NACO. "Our angel group members across Canada are eager to participate, and we look forward to supporting the growth of new businesses and helping them to make their mark in Canada, further expanding our economy."

To apply for permanent resident status in Canada, the foreign entrepreneur must first secure a significant investment commitment from a designated Canadian angel investor group or venture capital fund. Applicants must also demonstrate language proficiency skills at a Canadian Language Benchmark 5 in listening, speaking, reading and writing, and have at least one year of education at a post-secondary institution.

“With our new start-up visa, we are opening the door to new and exciting opportunities for Canada’s economy to grow and prosper,” added Minister Kenney. “This is part of our government’s transformational changes to Canada’s immigration system that will make it fast, flexible, and focused on Canada’s economic needs.”

The Start-Up Visa Program is a pilot program that will run for five years. It is expected that due to the narrow focus of the program, initially, the number of applications will be limited. However, the focus of the program will be on the quality of the applicants and on establishing a track record of success.