Canada updates minimum fund requirements for Express Entry programs

On July 7, Immigration, Refugees and Citizenship Canada updated the amount of money foreign nationals need to immigrate to Canada.

Those applying for permanent residence (PR) under two Express Entry programs will now require at least $500 more in funds.

For a family of one, the minimum amount of funds required has increased from $14,690 to $15,263.

See if you meet the new settlement funds requirement

The minimum fund requirement applies to foreign nationals applying under the following programs:

• The Federal Skilled Worker Program (FSWP); and
• The Federal Skilled Trades Program (FSTP).

All applicants need to have written proof that they have this money. To stay eligible, they need to update their proof of funds in their Express Entry profile by July 28, 2025.

How much money do you need to immigrate to Canada through the FSWP or FSTP as of July 7, 2025?

Number of family members	Funds needed as of July 7, 2025	Previous proof of fund requirement (valid June 3, 2024 – July 7, 2025)
1 (the applicant)	$15,263	$14,690
2	$19,001	$18,288
3	$23,360	$22,483
4	$28,362	$27,297
5	$32,168	$30,690
6	$36,280	$34,917
7	$40,392	$38,875
For each additional family member over 7	$4,112	$3,958

Canada updates its minimum fund requirements every year, based on 50% of the low-income cut-off totals.

Who does not need proof of funds?

Applicants do not need to show proof of funds if they are:

• Applying under the Canadian Experience Class (CEC); or
• Authorized to work in Canada and have a valid job offer, even if they apply under FSWP or FSTP.

That said, it is recommended to keep the funds up to date in an Express Entry profile as the system may find an applicant eligible for more than one program.

Currently all applicants are asked to provide proof of funds. Those who don’t need to provide proof of funds must upload a letter stating

• They've been invited to apply under the CEC; or
• They have a valid job offer and authorization to work in Canada.

How does Express Entry calculate the size of family?

Size of family includes the applicant, their spouse or common law partner, the applicant’s dependent children, their spouse or common-law's dependent children, and a dependent child of a dependent child.

It’s worth noting that a spouse or common law partner and dependent children must be included in the application even if they are Canadian citizens or permanent residents, and if they are not coming to Canada with the applicant.

What is accepted as proof of funds?

Applicants can show official letters from any bank or financial institution.

These letters must be printed on the financial institution’s letterhead. It must also include the following:

• Contact information (address, telephone number, email address).
• The applicant’s name.
• Outstanding debts like credit card debts or loans.
• Details for each current account (including banking and investment accounts):
  - Account numbers;
  - Date each account was opened;
  - Current account balances; and
  - Average balance over the past 6 months.

Applicants need to have access to these funds when they apply for PR, and when they are issued a PR visa.

They must also be able to prove that they can legally access the money in that account when they arrive.

For example, the following do not count as proof of funds:

• Real estate assets or equity; and
• Money borrowed from a friend.

Money listed in a joint account with a spouse can be counted as proof of funds.

Money listed under a spouse’s name only may count if the applicant can prove that they have access to that money.

Express Entry is the Canadian federal government’s application management system for the flagship federal immigration program.

Through the Express Entry system, the government issues upwards of 100,000 invitations to apply for permanent residency each year.

See if you meet the new settlement funds requirement