Canada Raises Minimum Fund Requirement for Express Entry Visa
Exciting news for those considering moving to Canada! On July 7, Immigration, Refugees and Citizenship Canada announced an increase in the funds required to immigrate as a permanent resident (PR) under certain Express Entry programs.
If you’re applying through the Federal Skilled Worker Program (FSWP) or the Federal Skilled Trades Program (FSTP), you’ll need to show a bit more financial stability. For a single applicant, the minimum fund has risen from $14,690 to $15,263. This update reflects Canada’s commitment to ensuring newcomers have the financial means to settle successfully.
Understanding the New Fund Requirements
Here’s a quick look at the updated fund requirements as of July 7, 2025:
| Number of family members | Funds needed |
| 1 (the applicant) | $15,263 |
| 2 | $19,001 |
| 3 | $23,360 |
| 4 | $28,362 |
| 5 | $32,168 |
| 6 | $36,280 |
| 7 | $40,392 |
| For each additional family member over 7 | $4,112 |
These requirements are reviewed annually and are based on 50% of the low-income cut-off totals.
Who Doesn’t Need Proof of Funds?
Great news! If you’re applying under the Canadian Experience Class (CEC) or have a valid job offer while applying for FSWP or FSTP, you don’t need to show proof of funds. However, it’s smart to keep your financial information updated in your Express Entry profile, just in case you qualify for other programs.
What Constitutes Proof of Funds?
To prove your funds, you’ll need official bank letters detailing your finances. These letters should include:
- Your name
- Bank contact info
- Account details including balances and any debts
It’s essential to have access to these funds when applying and upon arrival in Canada.
Using VisaJobsCanada.com for Your Job Search
As you prepare for your move, securing a job can significantly ease your transition. While platforms like Job Bank and LinkedIn are useful, VisaJobsCanada.com is tailored specifically for international candidates. Every job listed comes with visa sponsorship, making it easier for you to find opportunities that match your skills.
Canada is known for its welcoming stance towards immigrants and with proper planning, your dream of living and working here can become a reality.
What do you think?
Have a question about this topic or your own plans to move to Canada? Scroll down and leave a comment. We’d love to hear from you.
