Dear future neighbour,
Canada has just updated the minimum amount of money required for Express Entry applicants to be eligible. If you’re planning to immigrate through programs like the Federal Skilled Worker Program (FSWP) or Federal Skilled Trades Program (FSTP).
On July 7, 2025, Immigration, Refugees and Citizenship Canada (IRCC) boosted the minimum required settlement funds across the board by approximately CAD $500—adjusted annually based on 50 % of Canada’s low-income cut-off (LICO).
See Below Minimum Funds Required (Effective July 7, 2025)
| Family Members | New Requirement (CAD) | Previous Requirement (CAD) |
|---|---|---|
| 1 | 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 |
| +1 member | +4,112 | +3,958 |
These new amounts apply to applicants under the Federal Skilled Worker Program (FSWP) and Federal Skilled Trades Program (FSTP)—two streams managed through the Express Entry system.
Important Deadline: July 28, 2025
If you’re already in the Express Entry pool, you must update your “Settlement funds” section to reflect these new amounts by July 28, 2025, to remain eligible. Luckily, doing so doesn’t affect your original profile submission date or CRS ranking .
Who Needs to Show Funds?
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You need to show proof of funds if:
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You’re applying under FSWP or FSTP
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You don’t have a job offer in Canada
You don’t need to show funds if:
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You’re applying under the Canadian Experience Class (CEC)
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You have a valid job offer and are authorized to work in Canada
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Even if you’re exempt, you must still upload a letter of explanation stating your exemption (e.g., CEC invitation or job offer details).
What Counts as Proof of Funds?
Acceptable documentation includes:
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Official bank letters on institution letterhead, including:
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Account holder’s name
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Account numbers, open dates
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Current balances and 6‑month average
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Outstanding debts, if any
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Bank contact details (address, phone, email)
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The money must be readily available and not locked in investments or borrowed.
DON’T include: Property equity, borrowed money, investments not readily accessible .
Joint bank accounts are acceptable, though you must prove access if the account isn’t solely in your name.
What Do You Need to Do Now?
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Check your Express Entry profile
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Update your settlement funds if required
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Gather updated bank letters
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Upload a letter of explanation if you’re exempt
As noted, Express Entry issues roughly 100,000 ITAs annually, making it crucial to meet eligibility criteria without delay .
Need help with your Canadian immigration process?
Whether you’re applying for a visitor visa, submitting a work permit or visa application, creating an Expression of Interest (EOI), setting up an Express Entry or Provincial Nomination profile, preparing your application after receiving an Invitation to Apply, or simply want a professional review of your self-prepared application, we’re here to assist you.
Schedule a consultation or contact us at:
info@eseumohimmigration.com