Canada  Has Updated the Minimum Fund Requirements for Express Entry Programs

The  changes in the Canada immigration are along the way as  Immigration, Refugees and Citizenship Canada (IRCC) on July 7, 2025 has updated financial requirements for foreign skilled workers who want to live in Canada with  permanent residency (PR). These changes are applicable for those applicants who are applying through the express entry program. 

The core  sub streams under the express entry are – 

• The Federal Skilled Worker Program (FSWP)
• Federal Skilled Trades Program (FSTP)
• Canadian Experience Class ( CEC)

The change in the financial  conditions is applicable for two programs only - the Federal Skilled Worker Program (FSWP) and the Federal Skilled Trades Program (FSTP). There is also the minimum funds requirement that the applicants need to meet if they want to be  eligible for the program and it has increased by approximately $500 across all family sizes.

What is the fund requirement for Canada Immigration through Express Entry Program?

The changes in the Canada Immigration fund requirements are apparent as in the case of single applicant there is a new minimum amount of $15,263 which was $14,690 earlier.  There is an impact on the larger families with such kind of a change as now a family of four needs a minimum of $28,362, compared to the earlier requirement of $27,297. These figures reflect Canada's practice of adjusting settlement fund requirements annually based on 50% of the low-income cut-off (LICO) totals.
Applicants under the FSWP or FSTP must provide written proof that they have access to the required funds. Those with existing Express Entry profiles must update their proof of funds before July 28, 2025, to maintain eligibility. This requirement ensures that new immigrants can support themselves and their families upon arriving in Canada.

What are the exemptions for Fund requirements?

There are also some applicants for whom the recent changes are not relevant and they are exempted from this requirement.  These are the candidates under the Canadian Experience Class (CEC)  and it includes the individuals with the valid job offer as they are authorized to work in Canada  and they are not needed to submit any proof of funds—even if they apply under FSWP or FSTP.   But it is always a smart idea to keep the minimum funds in the profile as applicants may be eligible under more than one program.

How to meet the proof of funds requirement?

If one wants to meet the proof of funds requirement then they need to meet the following criteria -

Applicants must submit official letters from financial institutions. 

• These letters must be printed on official letterhead and include the financial institution’s contact details, the applicant’s name, outstanding debts such as credit cards or loans, and detailed information on each account. 
• This includes account numbers, date of account opening, current balances, and average balances over the past six months. 
• Applicants must demonstrate that these funds are readily available, can be legally accessed both at the time of application and upon arrival in Canada.

The family will include a lot of principal applicant and their plans will include spouse or common-law partner, dependent children, and even the dependent children of those children.  It is important that all family members must be counted—even if they are Canadian citizens or permanent residents and not accompanying the applicant to Canada.

In cases where proof of funds is not required, applicants must upload a letter explaining why. This letter should state either that they were invited to apply under the CEC or that they have both a valid job offer and authorization to work in Canada.
This latest update highlights Canada's ongoing efforts to ensure newcomers are financially prepared for life in the country, promoting smoother integration and stability during the settlement process.