Canada Increases Minimum Proof Of Funds For Express Entry Applicants

• Effective July 7, 2025, Canada will increase minimum financial requirements for permanent residence applicants via Express Entry.
• Federal Skilled Worker Program (FSWP) and Federal Skilled Trades Program (FSTP) applicants must show an additional CAD 500 in settlement funds.
• The new minimum requirement for a single applicant will be CAD 15,263, up from CAD 14,690 in 2024.

Starting July 7, 2025, Canada has increased the minimum financial requirements for individuals applying for permanent residence through the Express Entry system.

Applicants under the Federal Skilled Worker Program (FSWP) and Federal Skilled Trades Program (FSTP) must now demonstrate an additional CAD 500 in available settlement funds to be eligible. This update, announced by Immigration, Refugees and Citizenship Canada (IRCC), raises the minimum requirement for a single applicant to CAD 15,263, up from CAD 14,690 in 2024 a 3.4% increase.

These revised figures apply to candidates who do not have a valid job offer or Canadian work authorization.

Updated Settlement Funds by Family Size:

• Single applicant: CAD 15,263 (up from CAD 14,690)
• Family of 2: CAD 19,001 (up from CAD 18,288)
• Family of 3: CAD 23,360 (up from CAD 22,483)
• Family of 4: CAD 28,362 (up from CAD 27,297)
• Family of 5: CAD 32,168 (up from CAD 30,690)
• Family of 6: CAD 36,280 (up from CAD 34,917)
• Family of 7: CAD 40,392 (up from CAD 38,875)
• Each additional family member: Add CAD 4,112 (previously CAD 3,958)

These thresholds are updated annually based on Canada’s Low-Income Cut-Off (LICO) to ensure that newcomers can support themselves financially upon arrival.

Exemptions and Required Documentation

The new proof-of-funds requirement does not apply to those applying through the Canadian Experience Class (CEC) or to applicants with a valid job offer and work authorization. However, even exempt applicants must upload a letter explaining their exemption—either citing their CEC category or providing job offer details.

Applicants must also submit bank-issued financial letters, which must:

• Be printed on official letterhead
• Include contact details, account numbers, and the date each account was opened
• Show current balance and average balance over the past six months
• List any outstanding debts or liabilities

Funds must be readily accessible and legal; assets like home equity, investments, or borrowed money are not acceptable.

Temporary Extension for PGWP Eligibility

In a related development, the Canadian government has extended the grace period for international students impacted by recent changes to the Post-Graduation Work Permit (PGWP) program. Originally, many non-degree programs were set to lose eligibility by June 25, 2025, but that change will now take effect in early 2026.

This extension covers students who applied for study permits between June 25 and July 4, 2025, allowing them to remain eligible under the previous rules.

The PGWP-eligible program list has also been revised. While 178 programs including all transportation-related fields have been removed, 119 new programs, mostly in education, have been added. The total number of eligible programs has grown from 920 to 1,107.

Importantly, PGWP eligibility still requires that students complete at least an eight-month program at a designated learning institution (DLI), and the exemption continues for college bachelor’s, undergraduate, master’s, and PhD programs.