Canada has updated the amount of funds Express Entry candidates need to immigrate.

The changes apply to Express Entry candidates in the Federal Skilled Worker Program (FSWP) and the Federal Skilled Trades Program (FSTP). It does not apply to candidates from these programs who have a valid job offer in Canada. Proof of funds is how you show IRCC that you have enough money to settle in Canada. If you receive an invitation to apply, you must give written proof that you have this money.

Proof of Funds required for

You need proof of funds to meet the minimum requirements of the

  • Federal Skilled Worker Program 
  • Federal Skilled Trades Program

Proof of Funds not required for

You don’t need to show that you have enough money to support yourself and your family if

  • you’re applying under the Canadian Experience Class or
  • you’re authorized to work in Canada and you have a valid job offer, even if you apply under the Federal Skilled Worker Program or the Federal Skilled Trades Program

How much money you’ll need

The amount of money you need to support your family depends on the size of your family. To calculate the size of your family you must include

  • yourself
  • your spouse or partner
  • your dependent children and
  • your spouse’s dependent children

Include your spouse or dependent children even if they’re

  • permanent residents or Canadian citizens
  • not coming to Canada with you

This table shows the minimum amount you need to immigrate to Canada. If you have more money, you should list the full amount in your profile or application.

Number of

family members

Funds required

(in Canadian dollars)

1 $13,213
2 $16,449
3 $20,222
4 $24,553
5 $27,847
6 $31,407
7 $34,967
For each additional family member $3,560

 

You must update your Express Entry profile by July 15, 2021, if your proof of funds documents indicate fewer than these amounts. The date and time your profile was received by Immigration, Refugees and Citizenship Canada (IRCC) does not change when you update it. If you are in a tie-breaker position, you will keep your rank.

To read more about Proof of Funds and the most up-to-date information click here.

Check out your current CRS Score, use our mobile app’s CRS calculator and keep an eye on the latest draws using the mobile app too. Download the TrekNation App.

Leave a Reply