New Express Entry Fund Rules for Canada Visa Effective July 28
Immigration, Refugees and Citizenship Canada (IRCC) has announced an increase in the proof of funds requirements for Express Entry candidates, effective July 28, 2025. This adjustment aims to align with the annual changes in the low-income cut-off (LICO) amounts, crucial for those looking to migrate to Canada.
2025 Proof of Funds Update: Key Details
On July 7, 2025, IRCC updated the minimum financial requirements for prospective Express Entry candidates. The updated table for required funds is shown below, varying based on family size:
| Family Members | New Funds Required (CAD) | Old Funds Required (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+ | $4,112 additional per member | $3,958 |
These funds should support you and your family during your initial settlement period in Canada. Remember, you must update your Express Entry profile with these new minimum amounts by the deadline to stay eligible.
Who Needs to Provide Proof of Funds?
The proof of funds requirement affects candidates applying through the Federal Skilled Worker Program (FSWP) and the Federal Skilled Trades Program (FSTP). However, there’s good news! If you’re applying through the Canadian Experience Class (CEC) or have a valid job offer, you don’t need to provide this proof.
Acceptable Documentation for Proof of Funds
To meet the proof of funds requirement, you’ll need official documentation proving access to these funds. This can include:
- Official Bank Letters: These must be from your financial institution, listing account details and balances.
- Legal Access: Ensure your funds are readily available to you when applying and upon receiving your visa approval.
- Joint Accounts: If your spouse will accompany you, you may include funds from a joint account, provided you can demonstrate access.
It’s essential to keep these funds available throughout the immigration process since IRCC may review your accounts at any time.
Updating Your Express Entry Profile
To comply with these new requirements, log in to your IRCC Account and update your Express Entry profile with the new amounts by July 28, 2025. If your funds exceed the new requirements, you don’t need to make changes.
The 2025 proof of funds update is a vital step for potential immigrants. By following these guidelines, you can maintain your eligibility in your quest for Canadian permanent residency. For job opportunities that offer visa sponsorship, consider browsing VisaJobsCanada.com, where every listing is open to international applicants.
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