Canada Increases Express Entry Funds: Key Info for PR Applicants
If you’re thinking about moving to Canada for work, there’s an important update you need to know. Canada has revised the minimum settlement funds required for applicants under its Express Entry system. This change, announced by Immigration, Refugees and Citizenship Canada (IRCC), will take effect on July 28, 2025. It’s crucial for you to update your proof of funds by this date if you want to remain eligible for permanent residency (PR).
These new fund requirements affect those applying under the Federal Skilled Worker Program (FSWP) and the Federal Skilled Trades Program (FSTP). The amounts correlate to 50% of Canada’s Low-Income Cut-Off (LICO) levels, which are adjusted annually.
Here’s a breakdown of the new minimum funds you’ll need:
| Number of family members | New minimum funds (CAD) |
| 1 | $15,263 |
| 2 | $19,001 |
| 3 | $23,360 |
| 4 | $28,362 |
| 5 | $32,168 |
| 6 | $36,280 |
| 7 | $40,392 |
| Each additional member | $4,112 |
To comply, you’ll need to provide official bank letters demonstrating your account details, balances, and average holdings over the last six months. Remember, your funds must be liquid and legally accessible—borrowed money or real estate equity won’t count. You can use shared or spousal accounts as long as you can prove access.
But here’s a silver lining: If you’re applying under the Canadian Experience Class or already have a valid job offer, you won’t need to show proof of funds. However, you will need a formal letter to confirm this exemption.
It’s also worth noting that updating your fund amount in your Express Entry profile won’t change your original submission date. This is good news because it means your ranking will remain the same in tie-breaker situations.
As you prepare for your move, make sure to explore job opportunities tailored for international candidates. While platforms like Job Bank and LinkedIn are helpful, VisaJobsCanada.com focuses specifically on Canadian jobs that offer visa sponsorship for candidates from abroad. Every job listing there includes support for obtaining your Canadian visa, making your search just a bit easier.
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