Immigration, Refugees and Citizenship Canada (IRCC) has released its annual update to the minimum proof of funds required for express entry applicants under the Federal Skilled Worker (FSW) and Federal Skilled Trades (FST) programs. These changes, effective from July 7, 2025, directly impact Express Entry 2025 candidates who must now meet revised financial thresholds to remain eligible.

This update, aligned with 50% of Canada’s Low-Income Cut-Off (LICO), is part of IRCC’s broader strategy to ensure that newcomers possess the financial ability to support themselves and their families upon arriving in Canada. Individuals who have already submitted their Express Entry profiles must update their proof of funds information no later than July 28, 2025. Failing to do so may affect their eligibility, even if they otherwise qualify for selection.

Updated Proof of Funds for Express Entry Applicants

Notably, applicants under the Canadian Experience Class (CEC) or those with a valid job offer from a Canadian employer are exempt from this requirement. However, for FSW and FST applicants, proof of financial sufficiency remains a mandatory part of the application process. The updated minimum fund requirements vary depending on the applicant’s family size.

For instance, a single applicant must now show available funds of $15,263 CAD, while a family of four must demonstrate access to $28,362 CAD. The full breakdown is as follows:

All applicants are required to submit formal documentation as proof of funds. These documents must be printed on official letterhead from the financial institution and must include the institution’s address, telephone number, and email address. The letter should clearly state the applicant’s name, list of account numbers, the date each account was opened, current balances, average balances for the past six months, and any outstanding debts such as loans or credit card balances.

Applicants must also demonstrate that these funds are unencumbered, legally accessible, and available both at the time of application and upon issuance of a permanent residence visa. It is important to note that equity from real estate or borrowed funds is not acceptable. However, funds held jointly with a spouse may be counted, provided the applicant can show legal access. If the funds are held in the spouse’s name only, additional documentation is required to prove access.

Update Express Entry Profiles by July 28, 2025

IRCC emphasizes that updating one’s Express Entry profile with the revised fund information will not alter the original date and time of submission. This ensures that applicants retain their position in the pool, especially in tie-breaker scenarios where submission timestamps are critical.

This annual update plays an essential role in maintaining the robustness of the Canada immigration system. It ensures that selected applicants are well-prepared financially to transition into Canadian society, reducing potential burdens on public services and supporting long-term settlement success.

In conclusion, prospective immigrants applying under the FSW or FST programs must take immediate action to review their profiles and ensure compliance with the new proof of funds thresholds. The Canada immigration system remains firm in its goals to admit applicants who are not only skilled but also financially ready to begin their lives in Canada. Updating your profile by July 28, 2025, is not just a requirement; it is a necessary step toward securing your place in Canada’s future.

Add ImmigCanada to Your Google News Feed