Canada Raises Minimum Settlement Fund Requirements for Express Entry Applicants in 2025
Date Posted:July 9, 2025
Last Updated:September 24, 2026
On July 7, 2025, Immigration, Refugees and Citizenship Canada (IRCC) updated the minimum settlement fund requirements for certain Express Entry applicants.
Under the new policy, applicants must show at least $500 more than before. A single applicant, for example, must now prove they have at least CAD $15,263, up from $14,690.
Who is affected?
The updated minimum fund requirement applies to candidates applying through the following Express Entry programs:
- Federal Skilled Worker Program (FSWP)
- Federal Skilled Trades Program (FSTP)
All applicants under these programs must provide written proof that they have access to sufficient funds.
To remain eligible, candidates must update their settlement fund information in their Express Entry profile by July 28, 2025.
New Minimum Fund Requirements (as of July 7, 2025)
| Family Size | New Required Funds | Previous Required Funds |
|---|---|---|
| 1 (Principal applicant only) | $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 |
| For each additional family member | +$4,112 | +$3,958 |
Who does not need to show proof of funds?
You do not need to provide proof of funds if you are:
- Applying under the Canadian Experience Class (CEC); or
- Authorized to work in Canada and have a valid job offer, even if applying under FSWP or FSTP.
However, all Express Entry candidates are typically asked to submit proof of funds. If you are exempt, you must upload a letter of explanation stating either:
- You were invited under the CEC, or
- You have a valid job offer and are authorized to work in Canada.
How is family size calculated?
Your family size includes:
- Yourself (the applicant)
- Your spouse or common-law partner (even if not accompanying you)
- Your dependent children
- Your spouse or partner’s dependent children
- The dependent children of dependent children
Even if your family members are Canadian citizens or permanent residents, or are not accompanying you, they must still be counted for settlement fund purposes.
What counts as proof of funds?
Acceptable proof includes official letters from banks or financial institutions. These letters must:
- Be printed on the institution’s letterhead
- Include the institution’s contact info (address, phone, email)
- Include your name
- Show details of debts (e.g., credit cards, loans)
- Include details for each current account:
- Account numbers
- Date opened
- Current balance
- Average balance over the past 6 months
Applicants must have legal access to these funds both at the time of application and upon landing in Canada.
The following do not qualify as proof of funds:
- Real estate assets or property equity
- Loans or borrowed money (e.g., from friends)
Joint accounts with a spouse can be counted. Funds in the spouse’s name alone may also count, if the applicant can prove they have access to those funds.
Shiraishi Visa JP Canada’s Advice
This update, while seemingly minor in dollar value, is critical for maintaining Express Entry eligibility. If you are applying through FSWP or FSTP, please review the latest requirements and update your Express Entry profile by the July 28 deadline.
If you’re unsure whether this applies to your case or how to update your profile, feel free to contact Shiraishi Visa JP Canada. Our team is here to help ensure your application stays on track.
Free Consultations and Inquiries
Feel free to get in touch!
Immigration Consultant
Yuki Shiraishi
Born in Japan. After earning a Bachelor's degree from the University of Michigan, she worked for six years in New York as a marketing consultant at a major travel agency, while also studying in an MBA program at the City University of New York. After returning to Japan, she managed the visa center of the same travel company, handling various international visa applications for foreign clients.
Related Columns
Date Posted:September 24, 2026
How to Check Processing Times and Status for Canadian Visa and PR Applications
Date Posted:September 24, 2026
Canada Immigration Policy Trends 2025 | What Fewer Newcomers Mean for PR
Related News
Looking to obtain permanent residence or a visa?
Consult with us now!
Applying for permanent residence or a visa to Canada on your own can be overwhelming due to the large number of required documents, and you may feel uncertain about whether everything is correct. However, if you're serious about immigrating to Canada, we strongly recommend seeking the support of an immigration consultant. There are many pathways to obtaining permanent residence, depending on factors such as your age, occupation, and family status. With the help of an expert, you can ensure that you plan the right approach tailored to your specific situation.
A professional immigration consultant will help solve your concerns
Get a free Counseling now
From immigration planning to application submission,
everything is completed with shiraishi Visa JP Canada
Consulting with an immigration consultant makes the process clearer and much smoother. You’ll feel more confident with document submissions and procedures, significantly reducing the risk of mistakes. Take the first step toward your Canadian dream with the guidance of an expert.
