Express Entry Proof of Funds: How Much Money You Need to Settle in Canada
In this guide
Quick answer: Proof of funds shows Immigration, Refugees and Citizenship Canada (IRCC) that you can support yourself and your family when you arrive. You need it for the Federal Skilled Worker Program and the Federal Skilled Trades Program, but not for the Canadian Experience Class, or if you are authorized to work in Canada and have a valid job offer. The amount depends on your family size and is updated every year.
Who needs proof of funds?
If IRCC invites you to apply, you must give written proof of the money. You need it to meet the minimum requirements of the Federal Skilled Worker Program and the Federal Skilled Trades Program.
Who doesn’t need it?
- People applying under the Canadian Experience Class.
- People authorized to work in Canada who have a valid job offer, even if applying under the Federal Skilled Worker or Skilled Trades programs.
The system currently asks everyone for a proof-of-funds document because you may qualify for more than one program. If you don’t need it, upload a letter explaining that you were invited under the Canadian Experience Class, or that you have a valid job offer and authorization to work in Canada.
How much money do you need?
The figure is based on 50% of the low income cut-off totals and is updated yearly. When we checked the IRCC page, the table was marked as updated July 7, 2025. Treat these as an example and check the live table before you rely on it.
| Family members | Funds (CAD), table dated July 7, 2025 |
|---|---|
| 1 | $15,263 |
| 2 | $19,001 |
| 3 | $23,360 |
| 4 | $28,362 |
| 5 | $32,168 |
| 6 | $36,280 |
| 7 | $40,392 |
| Each additional member | $4,112 |
How do you count your family?
Include yourself, your spouse or common-law partner, your dependent children and your spouse’s or partner’s dependent children. Count them even if they are Canadian citizens or permanent residents, or aren’t coming with you.
What proof does IRCC accept?
You need official letters from every bank or financial institution where you have an account, printed on letterhead. Each letter must include the institution’s contact details, your name, your outstanding debts such as loans and credit card balances, and for each account: the account number, the date it was opened, the current balance and the average balance for the past 6 months. The funds must be available when you apply and when the visa is issued.
What doesn’t count?
- Equity in real property.
- Money borrowed from another person.
You must have legal access to the money. Joint accounts with your spouse count if your spouse is coming with you, and you may count money in your spouse’s own account if you can prove access.
Common mistakes
- Using an outdated amount table.
- Submitting statements instead of letters on bank letterhead.
- Leaving out debts.
- Counting borrowed money or property equity.
FAQ
Do I need to update my profile if the table changes?
IRCC has said you may need to update your proof of funds in your profile to stay eligible when it changes the numbers. Updating doesn’t change the date and time your profile was received.
Key takeaways
- Required for FSWP and FSTP, not for CEC or applicants with a valid job offer and work authorization.
- Amount depends on family size.
- Funds must be yours, accessible and documented by bank letters.
Related guides
- Moving abroad checklist
- First 90 days in a new country
- Express Entry explained
- Open a Canadian bank account
Last updated: October 2026. General information, not immigration advice. Check the current table on the IRCC website.
Sources
- Immigration, Refugees and Citizenship Canada: Proof of funds (Express Entry)