If you’re planning to immigrate to Canada through the Express Entry system, here’s an important update you can’t afford to ignore. The Canadian government has officially increased the minimum required funds for certain Express Entry candidates—and you have until July 28, 2025, to make sure your profile reflects this new requirement.
Let’s walk through everything you need to know, in simple and clear terms.
Who Needs to Show Proof of Funds?
You’re required to provide proof of funds if you’re applying under the:
-
- Federal Skilled Worker Program (FSWP)
- Federal Skilled Trades Program (FSTP)
On the other hand, you are exempt if:
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- You’re applying under the Canadian Experience Class (CEC), or
- You have a valid job offer in Canada with authorization to work
Even if you’re exempt, IRCC recommends uploading a brief letter explaining why.
New Fund Requirements for Express Entry (Effective July 7, 2025)
Here’s how much money you now need to show for Canada’s Express Entry proof of funds requirement, based on your family size:
| Family Size | Minimum Required Funds (CAD) |
|---|---|
| 1 | $15,263 |
| 2 | $19,001 |
| 3 | $23,360 |
| 4 | $28,362 |
| 5 | $32,168 |
| 6 | $36,280 |
| 7 | $40,392 |
| Additional family member | Add $4,112 |
It’s important to note that this amount must cover you and every family member, whether they are accompanying you to Canada or not.
What Counts as Proof?
Your proof must come in the form of a formal letter from your financial institution to fulfil new requirement of express entry program. The letter should:
- Be printed on official letterhead
- Include your name and contact information of the institution
- List account numbers, when the account was opened, and current balances
- Show the average balance over the last six months
- List any outstanding debts such as credit cards or loans
Funds must be readily accessible. Equity in property, borrowed money, or business investments do not qualify.
If you’ve already created your Express Entry profile before July 7, 2025, don’t assume your documents are still valid. You must log in and upload a new bank letter reflecting the updated fund requirements. If you don’t do this by July 28, 2025, your profile could be removed from the Express Entry pool.
This update isn’t optional. It’s a mandatory change that could affect your eligibility, even if you were previously compliant.
What Should You Do Right Now?
- Request a current bank letter that meets IRCC’s formatting and detail requirements.
- Make sure your funds meet or exceed the new minimum based on your family size.
- Upload the updated proof to your Express Entry profile.
- If exempt, write a short explanation letter and upload that instead.
- Double-check everything before the July 28, 2025 deadline.
