Canada Raises Minimum Proof of Funds for Express Entry Immigration in 2025

If you’re planning to immigrate to Canada through the Express Entry system, there’s an important update you need to know. On July 7, 2025, IRCC raised the minimum proof of funds required for two major immigration programs—the Federal Skilled Worker Program (FSWP) and the Federal Skilled Trades Program (FSTP).

What’s Changed?

Applicants must now show at least $500 more in available funds compared to last year. For a single applicant, the minimum requirement has risen from $14,690 to $15,263. This increase applies to all applicants under the FSWP and FSTP streams.

What is Proof of Funds?

Proof of Funds is official documentation showing you have enough money to support yourself and your family when immigrating. It confirms you meet Canada’s financial requirements for permanent residence eligibility.

Who Needs to Show Proof of Funds?

You need to meet the new financial requirement if you’re applying under:

• Federal Skilled Worker Program (FSWP)
• Federal Skilled Trades Program (FSTP)

However, you don’t need to show proof of funds if:

• You’re applying under the Canadian Experience Class (CEC); or
• You already have a valid job offer and authorisation to work in Canada, even if you’re applying through FSWP or FSTP.

Still, it’s smart to keep your proof of funds updated. The system might find you eligible for more than one program.

Updated Proof of Funds Requirement
(Effective July 7, 2025)

Here’s how much you’ll need in your bank account, depending on your family size:

Family Size	New Requirement	Previous Requirement
1 (single applicant)	$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	$40,392	$38,875
Each additional member	+$4,112	+$3,958

Canada reviews these numbers annually based on 50% of the low-income cut-off (LICO) to ensure immigrants have enough to support themselves upon arrival.

What Counts as Family Size?

Your total family size includes:

• You (the applicant)
• Your spouse or common-law partner
• Your dependent children
• Your spouse’s or partner’s dependent children
• Dependent children of dependent children

Even if your spouse or kids are Canadian citizens or won’t be moving to Canada with you, they still count toward your family size.

What Counts as Proof of Funds?

You must submit official letters from your bank or financial institution. These letters must be:

• Printed on the bank’s letterhead
• Include the bank’s contact info
• List all your current account numbers
• Show the date each account was opened
• Show current balances and average balances for the past 6 months
• Mention any debts or loans (e.g., credit card balances)

Important: You must legally access these funds both when you apply and once you arrive in Canada.

What Doesn’t Count as Proof of Funds?

These don’t qualify:

• Real estate or home equity
• Loans from friends or borrowed money
• Assets you can’t readily access

Money in a joint account with your spouse is acceptable. If the account is only in your spouse’s name, you’ll need proof that you have legal access to it.

What If You Don’t Need to Show Proof of Funds?

Even if you’re exempt, IRCC still requires you to upload a letter confirming:

• You’ve been invited under the Canadian Experience Class, or
• You have a valid job offer and are authorised to work in Canada.

Why This Update Matters

This annual update affects thousands of people looking to move to Canada under Express Entry. Since over 100,000 Invitations to Apply (ITAs) are issued each year, knowing the financial requirements can help you stay ahead and avoid getting disqualified.

If you’re serious about immigrating through Express Entry, make sure your bank documents are accurate, up to date, and meet IRCC’s requirements.

Quick Tips Before You Apply

• Double-check your Express Entry profile and update the fund amounts before July 28, 2025.
• Prepare the right documents in advance, and banks can take time to issue formal letters.
• Be honest and clear, IRCC can reject incomplete or incorrect proof.
• Even if you’re exempt, upload the right explanation letter.

Bottom Line

If Canada is in your immigration plans, these financial updates are something you can’t ignore. Take a few minutes to update your Express Entry profile and get your bank documents in order. A few hundred dollars could mean the difference between moving forward and getting dropped from the pool.