IRCC Updates Express Entry Proof of Funds for 2025
Immigration, Refugees, and Citizenship Canada (IRCC) has updated the proof of funds requirement for those applying via the Express Entry system. This update, announced on July 7, 2025, directly impacts two key immigration pathways: the Federal Skilled Worker Program (FSWP) and the Federal Skilled Trades Program (FSTP).
These changes align with the LICO (Low Income Cut-Off) threshold, which sets the minimum amount needed for newcomers to settle in Canada. If you’ve submitted your profile to the Express Entry pool, be sure to update your proof of funds by July 28, 2025, to maintain eligibility.
What Is Proof of Funds?
Proof of funds demonstrates that you have the financial means to support yourself after arriving in Canada. This requirement is essential for applicants under the FSWP and FSTP who do not already have a job offer or employment in Canada.
Who Needs to Show Proof?
According to IRCC, proof of funds is required for:
- Federal Skilled Worker Program
- Federal Skilled Trades Program
If you’re applying through the Canadian Experience Class (CEC) or have a valid job offer in Canada, you don’t need to provide this proof. A valid job offer typically means your employer has received a LMIA (Labour Market Impact Assessment), confirming the need for a foreign worker.
Updated Proof of Funds Requirement: July 2025
The amount of funds needed varies based on your family size. Here’s a quick overview of the minimum requirements in Canadian dollars (CAD):
| Number of family members | Funds you need (CAD) |
|---|---|
| 1 | $15,263 |
| 2 | $19,001 |
| 3 | $23,360 |
| 4 | $28,362 |
| 5 | $32,168 |
| 6 | $36,280 |
| 7 | $40,392 |
| Each additional family member: | $4,112 |
These amounts are recalibrated annually based on LICO. Even if some family members aren’t accompanying you, including them in your profile will influence the financial requirement.
What Is Accepted as Proof?
To satisfy proof of funds requirements for your Canada PR, you need to provide:
- Accessible funds, legally yours and not borrowed
- Official documentation from banks or financial institutions
Your documents should include your name, the bank’s information, account details, and current balances, along with any debt obligations.
What Should Express Entry Applicants Do?
If you’re already in the Express Entry pool, make sure to update the proof of funds section by July 28, 2025. This won’t affect your original submission time. If you’re waiting for an Invitation to Apply (ITA), your ranking will stay the same as long as you update before the deadline.
In your job search, while sites like Job Bank and LinkedIn are excellent, consider checking out VisaJobsCanada.com. This platform showcases Canadian jobs that offer visa sponsorship specifically for international candidates, making it simpler to find opportunities aligned with your immigration plans.
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