Canada Increases Proof of Funds to ₦17M for Immigration
Immigration, Refugees and Citizenship Canada (IRCC) has recently updated the minimum funds required for foreign nationals applying to migrate through the Express Entry system. As of July 7, 2025, you’ll need to prove you have higher amounts to qualify.
If you’re applying as a single person, you must now show at least CAD $15,263 (about CAD $14,690), while a family of two needs a minimum of CAD $19,001 (approximately CAD $21.2 million). This change is part of IRCC’s annual review of settlement fund requirements based on low-income cut-off totals from Statistics Canada.
When submitting your application, ensure you provide official letters from your financial institution, printed on the bank’s letterhead, as proof of these funds. If you’re applying with a spouse, you can combine funds from joint accounts.
If you’re already in the Express Entry pool, it’s essential to update your proof of funds by July 28, 2025, to maintain your eligibility. Rest assured, this doesn’t affect the original submission date of your profile. Keep in mind that proof of funds is required for the Federal Skilled Worker and Federal Skilled Trades programs but isn’t necessary for the Canadian Experience Class or those with a valid job offer.
Completing an Express Entry profile is just the first step; it doesn’t guarantee permanent residency. Only top-ranking candidates are invited to apply approximately every two weeks based on the Comprehensive Ranking System (CRS) score.
How to Get Sponsored to Work in Canada
If the idea of moving to Canada excites you, securing a job that offers visa sponsorship can be a fantastic pathway. You can also browse VisaJobsCanada.com, where every job listing is open to international candidates and includes visa support. This platform focuses specifically on Canadian jobs that offer sponsorship, making it easier for you to find opportunities that match your skills and aspirations.
What is an LMIA?
When looking for job opportunities in Canada, you might encounter the term LMIA (Labour Market Impact Assessment). An LMIA is a document that an employer must obtain to confirm that hiring a foreign worker won’t negatively impact the Canadian job market. Once an employer gets a positive LMIA, it makes it easier for you to apply for a work permit.
As you embark on your journey toward becoming a permanent resident or finding work in Canada, remember that the landscape can seem complex. However, there are numerous resources available to help you navigate this process. With determination and the right information, you’ll be well on your way to achieving your Canadian dreams.
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