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Notice – Proof of funds – Skilled immigrants (Express Entry)

Immigration, Refugees and Citizenship Canada (IRCC)  updated requirements for proof of settlement funds for Express Entry applicants. This update applies to Federal Skilled Workers and Federal Skilled Trade applicants who are not currently authorized to work in Canada in a skilled occupation.

To see the update click here.

From the IRCC website:

You must show that you have enough money to support yourself and your family in Canada to meet the minimum requirements of

  • the Federal Skilled Worker Program or
  • the Federal Skilled Trades Program

You won’t be accepted in the pool under one of these programs unless you can prove you have this money. The amount of money you need to support your family is set by the size of your family.

You don’t need to show that you have enough money to support yourself and your family to meet the program requirements of the Canadian Experience Class (this includes provincial nominees who are part of the CEC stream).

To calculate the size of your family you must include: yourself, your spouse or partner, your dependent children and your spouse’s dependent children. This includes your spouse or dependent children who are permanent residents or Canadian citizens.

Note that this does not apply if you are currently authorized to work in Canada and have a valid job offer.

The system may find that you are eligible for more than one program. Find out how to see which programs you are eligible for.

It is always a good idea to keep your funds up-to-date in your profile. You don’t know ahead of time which program you will be invited under.

You cannot borrow this money from another person. You must be able to use this money to pay the costs of living for your family (even if they are not coming with you).

You will need to show proof that you have enough money when you apply to immigrate.

Number of
Family Members
Funds Required
(in Canadian dollars)
1 $12,300
2 $15,312
3 $18,825
4 $22,856
5 $25,923
6 $29,236
7 or more $32,550

You do not have to show that you have these funds if:

  • you have a valid offer of arranged employment in Canada AND
  • you are currently working or authorized to work in Canada.

How much money should you bring?

It is a good idea to research how much it costs to live in the place where you plan to settle in Canada.

Bring as much money as you can to make moving and finding a home in Canada easier. Note, however, that Canadian customs regulations require you to declare if you are bringing more than CAN$10,000 into Canada. If you do not tell them, you may be fined, and your funds could be seized. These funds could be in the form of:

  • cash,
  • documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.), or
  • documents that guarantee payment of a set amount of money, which are payable to you (such as bankers’ drafts, cheques, travellers’ cheques or money orders).

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