Canada Updates Minimum Fund Requirements for Express Entry Programs
If you’re planning to immigrate to Canada through the Express Entry system, it’s crucial to stay informed about the latest changes—especially those related to proof of funds. As of July 2025, Immigration, Refugees and Citizenship Canada (IRCC) has updated the minimum settlement funds requirement for certain Express Entry programs.
In this blog, we’ll break down everything you need to know about the new figures, who is affected, and how to stay eligible for Canada’s highly competitive immigration system.
What Is Proof of Funds in Express Entry?
Proof of funds is the amount of money you must show to prove you can support yourself and your family after you arrive in Canada. This is a mandatory requirement for applicants under the Federal Skilled Worker Program (FSWP) and Federal Skilled Trades Program (FSTP)—unless you’re currently authorized to work in Canada and have a valid job offer.
New Proof of Funds Requirements (Effective July 2025)
IRCC updates the settlement fund requirement annually based on 50% of the Low Income Cut-Off (LICO). Here are the new 2025 minimum fund requirements based on family size:
| Family Members | Required Funds (CAD) |
|---|---|
| 1 | $14,690 |
| 2 | $18,288 |
| 3 | $22,483 |
| 4 | $27,297 |
| 5 | $30,690 |
| 6 | $34,917 |
| 7 | $38,875 |
| Each additional member | +$3,958 |
✅ Important: If you’ve already submitted your Express Entry profile, you must update your proof of funds in your profile to remain eligible.
Who Needs to Show Proof of Funds?
You must show proof of funds if you are applying under:
- Federal Skilled Worker Program (FSWP)
- Federal Skilled Trades Program (FSTP)
You don’t need to show proof of funds if:
- You’re applying under the Canadian Experience Class (CEC)
- You have a valid job offer and are authorized to work in Canada
What Documents Are Accepted?
To demonstrate your funds, you must provide official letters from your financial institutions. These letters must include:
- Bank name and contact information
- Your name
- Outstanding debts (like credit card debts or loans)
- Account numbers
- Date of opening each account
- Account balances and average balance for the past 6 months
💡 Tip: Ensure the funds are readily available. IRCC will not accept proof of real estate or borrowed money.
Why This Update Matters
Many applicants miss out on invitations because of outdated or incorrect proof of funds. With this update, it’s essential to review your Express Entry profile and make sure it reflects the latest fund requirement. Failing to meet the updated amount could lead to ineligibility or refusal.
What You Should Do Next
- Review your current settlement funds and compare them with the new 2025 requirements.
- Update your Express Entry profile if you’ve already submitted one.
- Ensure your bank letters are current and valid—they should not be older than 6 months.
- Consult a licensed immigration consultant for assistance in complying with the latest requirements.
Canada’s Express Entry system is one of the most efficient immigration pathways, but keeping up with regular updates—especially regarding financial eligibility—is key. This change in minimum fund requirements is a reminder that even small details can impact your immigration journey.
At Visa Master Canada, we specialize in Express Entry applications and offer tailored guidance to help you succeed. Whether you need help updating your profile, assessing your eligibility, or preparing financial documents, we’re here to support your journey to Canada.
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