Canada Raises Express Entry Fund Requirements For 2025 Applicants

Canada has updated the minimum amount of money required to apply for permanent residency through Express Entry.

Immigration, Refugees and Citizenship Canada has raised the financial bar for Express Entry applicants under the Federal Skilled Worker Program (FSWP) and Federal Skilled Trades Program (FSTP). The updated requirements, released on July 7, mean applicants now need to show higher settlement funds to remain eligible for permanent residency.

What’s Changed?

Each year, Canada adjusts these requirements to reflect rising living costs. This time, the required funds have gone up by approximately $500 per applicant. For a single applicant, the minimum has increased from $14,690 to $15,263. Larger families will see similar increases.

Here’s the new breakdown:

Who Needs to Show Proof of Funds?

This requirement applies only to FSWP and FSTP applicants. You don’t need to show proof of funds if you:

• Are applying under the Canadian Experience Class (CEC), or
  
• Have a valid job offer and are authorized to work in Canada.
  

However, it’s still recommended to keep your Express Entry profile updated. If the system finds you eligible for another program, missing documents could delay your application.

Deadline to Update Your Profile

If you're applying under FSWP or FSTP, you must update your proof of funds by July 28, 2025. Failing to do so could affect your eligibility.

What Counts as Proof?

To prove you have the required funds, you’ll need an official letter from your bank or financial institution. The letter must include:

• The institution’s contact information
  
• Your name
  
• A list of debts (like loans or credit card balances)
  
• Account numbers, opening dates, current balances, and average balances over the past 6 months
  

The money must be available at the time of application and when you arrive in Canada. It should be in your name, or in a joint account with your spouse. If the money is under your spouse’s name only, you must prove you can access it legally.

Assets like real estate or borrowed money don’t count.

How Is Family Size Calculated?

Family size includes you, your spouse or partner, dependent children, and any dependents of your dependents—even if they aren’t moving with you or are already Canadian residents.

Express Entry at a Glance

Express Entry is Canada’s online system for managing applications under its main immigration programs. Each year, it invites over 100,000 applicants to apply for permanent residence.

If you’re planning to immigrate through this route, make sure your documents—and your bank balance—are ready.