Canada: Updated Proof of Funds Requirements for Certain Express Entry Permanent Residence Applicants

Immigration, Refugees and Citizenship Canada has released the updated minimum settlement fund requirements for foreign nationals applying for permanent residence through the Express Entry – Federal Skilled Worker and Federal Skilled Trades Programs. The minimum amounts, which are typically updated annually, depend on family size and are detailed here. Foreign nationals applying for permanent residence through these programs must have the minimum required funds readily available (in a bank or financial institution) both at the time of application and when the permanent residence visa is issued. Applicants who have already submitted their Express Entry profiles must update their profiles with their proof of funds by July 28, 2025, to remain eligible. Individuals affected by this change should consult 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.