Author:Proof of Funds for Express Entry to Canada 2025: Key Updates and Requirements
Canada’s Express Entry immigration system has seen an update to its proof of funds requirements. These adjustments are based on 50% of the low-income cut-off totals, and applicants are advised to update their Express Entry profiles by July 28, 2025, to reflect these changes. It’s important to note that updating your profile will not impact your original receipt date or your rank in tie-breaker situations.
Who Needs to Show Proof of Funds?
To demonstrate that you have sufficient money to settle in Canada, you must present proof of cash. However, you must provide written documentation proving you have this money.
Proof of finances is required in order to satisfy the minimal requirements of the
- Program for Federal Skilled Workers
- Program for Federal Skilled Trades
Minimum Funds Required
The minimum amount of funds required is determined by the size of your family, which includes yourself, your spouse or common-law partner, and any dependent children.
Here’s a breakdown of the minimum funds required based on family size:
| Number of Family Members | Previous Funds Required | Funds Needed (CAD) as of July 7, 2025 |
| 1 | $14,690 | $15,263 |
| 2 | $18,288 | $19,001 |
| 3 | $22,483 | $23,360 |
| 4 | $27,297 | $28,362 |
| 5 | $30,690 | $32,168 |
| 6 | $34,917 | $36,280 |
| 7 | $38,875 | $40,392 |
| For each additional family member | +$3,958 | +$4,112 |
Acceptable Proof of Funds
The funds you declare must be readily available both at the time you submit your application and when your permanent resident visa is issued. The Canadian government accepts official letters from banks or financial institutions as proof of funds.
These letters must be:
- Printed on the financial institution’s letterhead.
- Include contact information (address, telephone number, and email address).
- State your name.
- List any outstanding debts, such as credit card debts or loans.
- Provide details for each of your bank and investment accounts, including:
- Account numbers.
- Dates each account was opened.
- The current balance of each account.
- The average balance for the past six months.
It is crucial that the funds are legally accessible to you and are not borrowed from another person or derived from the equity of real property. While funds in a joint account with your spouse can be counted, funds held solely in your spouse’s name may only be considered if you can demonstrate direct access to them.
How We Can Help
At Doherty Fultz Immigration, we understand that financial documentation can be stressful. We help ensure:
- Your proof of funds meets all IRCC requirements
- You present your financial history clearly and accurately
- You avoid common mistakes that lead to refusals
If you have questions about your financial documentation then book your consultation now!
