Canada Revises the Express Entry Proof of Funds Requirement

Nationwide Visas
[Published 10 Jul, 2025 | 06:32 AM]
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Immigration, Refugees and Citizenship Canada (IRCC) has made an important change and updated the Proof of Funds (POF) requirements of the receipts of permanent residence (PR) applicants who use the Express Entry system.

The announcement of the update on July 7, 2025, indicates a modification that resulted in changes to 50% of the Low-Income Cut-off (LICO) statistics of Canada and will apply to the Federal Skilled Trades Program (FSTP) and Federal Skilled Worker Program (FSWP) applicants.

IRCC insists on changes in the amount of settlement funds in the Express Entry profile of candidates annually to maintain their eligibility. This revision has to be done by July 28, 2025. Notably, making random updates to your profile will not alter the original submission date and time; hence, your place in the Express Entry pool will not be affected among the tie-breakers.

Check Your Eligibility for Canada PR!

Express Entry Proof of Funds - July 7, 2025

Depending on the size of the family, minimum fund requirements include -

• The principal applicant
• Spouse or common-law partner
• Dependent children
• Spouse's or partner's dependent children

Applicants must state the total amount of funds available, even if they are above the minimum requirement.

Who Needs to Show Proof of Funds?

The applicant streams listed below are required to provide evidence of settlement funds:

• Federal Skilled Worker Program (FSWP)
• Federal Skilled Trades Program (FSTP)

The following categories don't need proof of funds:

• Candidates seeking the CEC (Canadian Experience Class)
• The candidates with an official offer of employment and a permit to work in Canada

What is the proof of funds?

Applicants must provide official bank or financial institution letters in order to comply with the IRCC's standards. Such letters should:

• Be printed on the company's official letterhead.
• Include contact information (address, phone number, or email).
• State the applicant’s name.
• Disclose all the outstanding debts (credit card, loans).
• Provide information about each current account, including the account number, opening date, current balance, and average balance for the previous six months.

The candidates should also prove that the funds are

• Accessible legally on their arrival in Canada
• Free of encumbrances (i.e., not borrowed or tied to property)
• Enough to support the whole family, even though they are not immigrating with the applicant

It is legal to count money in a joint account with a spouse. But as long as the primary applicant has access to the money, funds in the spouse's name may be utilized.

The Importance of This Update

One of the crucial eligibility requirements for Express Entry is proof of funds. It ensures that newcomers can support themselves financially in Canada without relying on the government. The revised thresholds make sure candidates are prepared for the financial realities of life in Canada by revealing inflation and the cost of living.

IRCC recommends that applicants bring as much money as possible when they immigrate. A higher amount than the minimum not only strengthens the application but also promotes smoother settlement, meeting basic needs such as living conditions, transport, and food.

Source: canada.ca