Hajra Naz
On July 7, 2025, IRCC raised the settlement fund limits for applicants. This affects people applying through the Express Entry system. It applies to both
- Federal Skilled Worker Program (FSWP)
- Federal Skilled Trades Program (FSTP)
Each applicant now needs around $500 more than before.
Updated Fund Requirements
Express Entry candidates must now show larger savings in their proof of funds.
Here’s how the requirements changed:
| Family Size | As of July 7, 2025 | Previous Requirement |
|---|---|---|
| 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 | $40,392 | $38,875 |
| Each extra member | +$4,112 | +$3,958 |
All applicants must update their proof of funds in their Express Entry profile by July 28, 2025, to remain eligible.
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Who Is Affected?
This update impacts FSWP and FSTP candidates. Those applying under the Canadian Experience Class (CEC) or who already have a valid work offer and work permit are exempt from meeting the new thresholds. However, exempt applicants must still upload a letter explaining why they are not required to provide proof of funds.
Acceptable Proof of Funds
To show sufficient funds, applicants must provide:
-
An official bank letter on the institution’s letterhead
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Bank contact info, account numbers, and current balance
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Details of any debts
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A six-month average balance
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Proof that funds are unencumbered, legally accessible, and not borrowed
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Funds cannot be tied up in real estate or equity
What Counts as Family Size?
IRCC calculates family size like this:
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The applicant,
-
Their spouse or partner,
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Any dependent children (including those of the spouse),
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And even dependent grandchildren, whether or not they plan to come to Canada.
This broader definition ensures applicants prepare for all their dependents.
Why This Matters
Canada’s Express Entry is the main path for skilled immigrants. Every year, over 100,000 people get invitations to apply for permanent residence.
The new fund rules help ensure newcomers can support themselves. It also reflects inflation and higher living costs in big Canadian cities.
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What You Should Do Now
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Check your current profile’s proof of funds section.
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Update your documents to reflect the new thresholds by July 28, 2025.
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Prepare a letter of exemption if you’re under CEC or have a valid job offer.
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Use proper documentation—official bank letters clearly showing your financial standing.
Bottom Line
The updated financial requirement is a modest rise, but it can affect thousands of applicants, and could delay your path to Canada if your funds are out of date. Stay ahead by preparing your documents early and double-checking your application before the July deadline.
