News

Canada Raises Settlement Funds Requirement for Express Entry!

Canada Increases Proof of Funds Requirement for Express Entry – July 2025 Update

Canada’s Immigration, Refugees and Citizenship Canada (IRCC) has officially updated the proof of funds requirements for Express Entry applicants as of July 7, 2025.

This annual update affects individuals applying through the:

Federal Skilled Worker Program (FSWP)

Federal Skilled Trades Program (FSTP)

It does not apply to:

Applicants under the Canadian Experience Class (CEC).

Those with a valid job offer and authorization to work in Canada.

New Minimum Funds Required in 2025

Family Size	Funds Required (CAD)
1 person	$15,263
2 people	$19,001
3 people	$23,153
4 people	$28,534
5 people	$32,579
6 people	$36,510
7 people	$40,392
Additional person	+$4,112

These figures are based on 50% of Canada’s Low-Income Cut-Off (LICO) amounts and are updated annually to reflect the cost of living.

Deadline to Update Your Express Entry Profile

Applicants with existing Express Entry profiles must upload updated financial proof by July 28, 2025, or they may no longer be eligible for selection.

What Counts as Valid Proof of Funds?

IRCC requires:

Official bank letters on letterhead.

Name, address, and contact info of the bank.

Account details (number, type, balance, 6-month history).

Outstanding debts such as credit cards or loans.

What You Should Do Now?

Recalculate your settlement fund requirement based on your family size

Obtain updated proof of funds from your bank or financial institution

Update your Express Entry profile before July 28, 2025.

At Vagmi Journey, we help clients stay ahead of every update and ensure your Express Entry application remains fully compliant.

Transforming your travel dreams into digital reality

Canada Raises Settlement Funds Requirement for Express Entry!

Canada Raises Settlement Funds Requirement for Express Entry!

Latest Posts