New Canada Express Entry Funds Requirement Effective July 28

Immigration, Refugees and Citizenship Canada (IRCC) has announced a new increase to the proof of funds requirements for Express Entry candidates, effective July 28, 2025.

These changes, which align with the Canadian annual adjustment based on 50% of the low-income cut-off (LICO) totals, are essential for the Express Entry candidates in the pool as well as new profile creators.

Whether you’re a skilled worker, a tradesperson, or planning to relocate with your family, this article provides everything you need to navigate the updated Express Entry system successfully.

This comprehensive guide explores the updated requirements, who needs to comply, how to provide proof, and actionable steps to ensure eligibility.

IRCC’s 2025 Proof of Funds Update: Key Details

On July 7, 2025, IRCC updated the proof of funds table, outlining the minimum financial requirements for Express Entry candid

Below is the updated table for 2025:

Number of family members	New Funds Required (in Canadian dollars) Effective July 28, 2025	Old Funds Required (in Canadian dollars)
1	$15,263	$14,690
2	$19,001	$18,288
3	$23,360	$22,483
4	$28,362	$27,297
5	$32,168	$30,690
6	$36,280	$34,917
7	$40,392	$38,875
If more than 7 people, for each additional family member	$4,112	$3,958

The required funds depend on the size of your family, which includes yourself, your spouse or common-law partner, and dependent children, even if they are Canadian citizens, permanent residents, or not accompanying you.

Candidates must update their Express Entry profiles with the new fund amounts by July 28, 2025, to remain eligible.

Updating your profile does not affect your original submission date, preserving your rank in tie-breaker situations.

Who Needs to Provide Proof of Funds For Express Entry?

The proof of funds requirement applies to candidates applying through the Federal Skilled Worker Program (FSWP) and Federal Skilled Trades Program (FSTP), unless they meet specific exemptions.

This requirement is designed to demonstrate that applicants have enough money to support themselves and their families during the initial settlement period.

Exemptions from Proof of Funds:

• Canadian Experience Class (CEC) Applicants: If you’re applying under the CEC, you are not required to provide proof of funds, as this program targets individuals with Canadian work experience who are presumed to be familiar with the country’s economic landscape.
• Applicants with a Valid Job Offer: Candidates who are authorized to work in Canada and have a valid job offer are exempt from the proof of funds requirement, even if they apply under FSWP or FSTP.
  • A valid job offer must meet specific criteria, such as being full-time, continuous, and for at least one year after receiving permanent resident status.

If you fall under an exemption, you must upload a letter to your Express Entry profile explaining that you are applying under the CEC or have a valid job offer and work authorization, once invited to apply

This ensures that your application is processed correctly, as the Express Entry system may still prompt for a proof of funds document.

Acceptable Proof of Funds For Express Entry

To meet IRCC’s proof of funds requirement, candidates must provide official documentation demonstrating that they have access to the required funds.

These funds must be readily available, legally accessible, and sufficient to cover living expenses for the applicant and their family.

Requirements for Proof of Funds Documentation:

• • Official Bank Letters: You must obtain letters from banks or financial institutions where you hold accounts. These letters must be printed on the institution’s letterhead and include:
    • The institution’s contact information (address, phone number, email).
    • Your name.
    • Account numbers for each current banking or investment account.
    • The date each account was opened.
    • Current account balances.
    • The average balance for the past six months.
    • Details of any outstanding debts, such as loans or credit card balances.

• Legal Access to Funds: The funds must be accessible to you both when you apply and when you receive your permanent resident visa (if approved). You cannot use:
  • Equity on real property (e.g., the value of your home).
  • Borrowed funds from another person.
• Joint Accounts and Spouse’s Funds: If your spouse is accompanying you, you can include money in a joint account.
  • You may also use funds in an account under your spouse’s name, provided you can prove access to the money through documentation (e.g., a notarized letter or bank authorization).

Important Considerations:

• • Maintaining Funds: The required funds must be maintained throughout the immigration process, from profile submission to visa issuance.
    • IRCC may verify your funds at any stage, so ensure your accounts remain adequately funded.

• Bank Statements vs. Official Letters: While some applicants have successfully submitted bank statements, IRCC strongly prefers official bank letters that meet the specified criteria.
  • Submitting statements alone risks your application being returned as incomplete, potentially jeopardizing your chances of receiving another ITA.

How to Update Your Express Entry Profile

To comply with the 2025 proof of funds update, candidates must update their Express Entry profiles by July 28, 2025.

If your proof of funds is already higher than the new increase, then you do not need to update your profile.

Follow these steps to ensure your profile remains eligible:

1. 1. Log into Your IRCC Account: Access your Express Entry profile through your IRCC secure account.

1. Update Settlement Funds: Navigate to the section for proof of funds and enter the updated amount based on your family size, as per the 2025 table.
2. Submit Changes: Save and submit your updated profile. Ensure all other information, such as work experience and language test results, is accurate and up-to-date.

Pro Tip: Regularly check your profile for accuracy, as the Express Entry system may assess you for multiple programs.

Inaccurate or outdated information could lead to ineligibility or application refusal.

The 2025 Express Entry proof of funds update is a critical development for aspiring Canadian immigrants.

By updating your profile with the new minimum amounts by July 28, 2025, and providing compliant documentation, you can maintain eligibility and strengthen your application.

Whether you’re applying through the FSWP, FSTP, or exploring PNP options, understanding and meeting these requirements is essential for a successful immigration journey.

Source: Immigration, Refugees, and Citizenship Canada.

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