IRCC Updated Express Entry Proof of Funds Requirements
Updated Fund Requirements (Effective July 7, 2025)
The Canadian government has updated the amount of money you need to show in your Express Entry profile to prove that you can support yourself and your family when moving to Canada.
These amounts are updated every year and are based on 50% of the Low Income Cut-Off (LICO).
Important:
You must update your Express Entry profile with the new figures by July 28, 2025 to stay eligible.
Don’t worry, updating your proof of funds won’t change your rank or submission date in the Express Entry pool.
Who Needs to Show Proof of Funds?
You must provide proof of funds if you’re applying under either of these two programs:
- Federal Skilled Worker Program (FSWP)
- Federal Skilled Trades Program (FSTP)
If you receive an Invitation to Apply (ITA), you’ll need to submit official proof that you have these funds.
Who Doesn’t Need to Show Proof?
You don’t need proof of funds if:
- You’re applying under the Canadian Experience Class (CEC),
or - You already have a valid job offer and authorization to work in Canada, even if you’re applying under FSWP or FSTP.
However, the system still asks everyone to upload a proof of funds document. If you’re exempt, just upload a letter explaining:
- You’ve been invited under CEC, or
- You have a valid job offer and work authorization
How Much Money Do You Need?
The amount you need depends on how many family members are included in your application.
| Family Members | Minimum Funds Required (CAD) |
| 1 | $15,263 |
| 2 | $19,001 |
| 3 | $23,360 |
| 4 | $28,362 |
| 6 | $32,168 |
| 7 | $36,280 |
| 8 | $40,392 |
| Each additional member | +$4,112 |
Tip: If you have more than the minimum, mention the full amount in your profile.
How to Count Your Family Size
Include the following people in your family size calculation:
- Yourself
- Your spouse or common-law partner
- Your dependent children
- Your partner’s dependent children
Include them even if:
- They’re not coming to Canada with you,
- Or they’re already Canadian citizens or permanent residents
What Counts as Proof of Funds?
You must get official letters from every bank or financial institution where you hold money. These letters must:
- Be printed on the bank’s letterhead
- Include their contact details (address, phone, email)
- List your:
- Name
- Outstanding debts (loans, credit cards)
- Account details:
- Account numbers
- Date opened
- Current balance
- 6-month average balance
You Must Have Legal Access to the Money
Not all money can be counted. You can’t:
- Use the value of your home or property
- Borrow this money from someone else
You can:
- Use a joint account with your spouse
- Possibly use an account in your spouse’s name only, if you can prove you have access to the funds
Make sure your proof of funds is:
Conclusion
- Updated in your Express Entry profile by July 28, 2025
- Available both when you apply and when your permanent residency is approved
- Legal, accessible, and well-documented
Get in touch with SPS Global
Receive professional advice on any of your questions regarding Canadian immigration. get in touch with us, experienced immigration consultants from SPS Global. For additional information, contact support@spscanada.com (Canada) or support.amd@spscanada.com (Ahmedabad), or by phone at (1) 905-362-9393 (Canada) or +919586226232 (Ahmedabad).
