Canada: Increased Proof of Funds Amounts for Certain Express Entry Permanent Residence Applicants

The minimum amount of funds required from foreign nationals applying for permanent residence through the Express Entry – Federal Skilled Worker Program will increase on June 9, 2022. The minimum amounts depend on family size and are detailed here. Foreign nationals applying for permanent residence through this program must have the minimum required amount of funds readily available (in a bank or financial institution) both at the time of application and when the permanent residence visa is issued. Those who already created and submitted their Express Entry profile may need to update their fund amounts and must do so by June 8, 2022 (they will maintain their rank within the selection process according to the date and time they initially submitted their profile). Foreign nationals applying under the Canadian Experience Class, or those who are authorized to work in Canada and have a valid job offer are not subject to the proof of funds requirement. Affected applicants should contact their immigration professional for case-specific advice.