Canada: Increased Proof of Funds Amounts for Certain Express Entry Permanent Residence Applicants
May 20, 2022
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.
This alert is for informational purposes only. If you have any questions, please contact the global immigration professional with whom you work at Fragomen or send an email to [email protected].
Explore more at Fragomen
Video
Learn how international graduates can stay in France for one year to find work or start a business. Discover eligibility requirements, application steps and transition options for the Job Seeker/New Business Creator permit.
Awards
Partner Priscilla Muhlenkamp is a finalist for the 2025 National Law Journal Awards category, "DC Managing Partner of the Year."
Media mentions
Partner Bo Cooper highlights that new $100K H-1B fees could affect US employers, with possible exemptions for critical roles.
Media mentions
Partner Louise Senior highlights the impact of record-breaking UK sponsor licence revocations and the steps hospitality businesses can take to manage compliance.
Media mentions
Partner Bo Cooper explores the impact of H-1B visa changes on companies and their talent strategies.
Media mentions
Partner Bo Cooper explains that while new H-1B fees affect future petitions, US opportunities for international talent remain highly valued.
Media mentions
Fragomen explores in an article how international recruitment can help solve Germany’s public sector staffing crisis and support the future of essential services.
Blog post
Assistant Manager Charo Medida explains the work permit requirements for employers and professionals under the UAE Golden Visa programme.
Media mentions
Partner Bo Cooper explains how proposed H-1B fee and lottery changes impact hiring of skilled international talent across sectors.
Media mentions
Partner Haider Hussain underlines the role of talent mobility in shaping future growth sectors in the Kingdom.
Fragomen news
Fragomen is recognised by the Financial Times for its innovative work in workforce mobility and cross-sector collaboration.
Media mentions
Partner Daniel Brown outlines steps companies can take to support employees and maintain smooth operations during compliance-related situations.
Video
Learn how international graduates can stay in France for one year to find work or start a business. Discover eligibility requirements, application steps and transition options for the Job Seeker/New Business Creator permit.
Awards
Partner Priscilla Muhlenkamp is a finalist for the 2025 National Law Journal Awards category, "DC Managing Partner of the Year."
Media mentions
Partner Bo Cooper highlights that new $100K H-1B fees could affect US employers, with possible exemptions for critical roles.
Media mentions
Partner Louise Senior highlights the impact of record-breaking UK sponsor licence revocations and the steps hospitality businesses can take to manage compliance.
Media mentions
Partner Bo Cooper explores the impact of H-1B visa changes on companies and their talent strategies.
Media mentions
Partner Bo Cooper explains that while new H-1B fees affect future petitions, US opportunities for international talent remain highly valued.
Media mentions
Fragomen explores in an article how international recruitment can help solve Germany’s public sector staffing crisis and support the future of essential services.
Blog post
Assistant Manager Charo Medida explains the work permit requirements for employers and professionals under the UAE Golden Visa programme.
Media mentions
Partner Bo Cooper explains how proposed H-1B fee and lottery changes impact hiring of skilled international talent across sectors.
Media mentions
Partner Haider Hussain underlines the role of talent mobility in shaping future growth sectors in the Kingdom.
Fragomen news
Fragomen is recognised by the Financial Times for its innovative work in workforce mobility and cross-sector collaboration.
Media mentions
Partner Daniel Brown outlines steps companies can take to support employees and maintain smooth operations during compliance-related situations.