Proof of Funds Requirement for Express Entry – Why It Matters in 2025
If you’re applying to immigrate to Canada under the Federal Skilled Worker (FSW) or Federal Skilled Trades (FST) streams, providing Proof of Funds is a mandatory step — unless you already have a valid job offer in Canada or are legally allowed to work there.
Proof of funds shows Immigration, Refugees and Citizenship Canada (IRCC) that you have enough money to support yourself and your family when you arrive in Canada. It’s a key eligibility requirement and must be kept up-to-date to remain in the Express Entry pool.
✅ Important: If your proof of funds is outdated, update it by July 28, 2025, to keep your profile eligible for future Express Entry draws
Updated Proof of Funds – Effective July 7, 2025
The minimum amount of money you need depends on your family size. Below are the updated financial requirements:
| Family Size | Minimum Required Funds (CAD) |
|---|---|
| 1 person | $15,263 |
| 2 people | $19,001 |
| 3 people | $23,360 |
| 4 people | $28,362 |
| 5 people | $32,168 |
| 6 people | $36,280 |
| 7 people | $40,392 |
| For each additional family member | $4,112 |
If your Express Entry profile still shows proof of funds based on last year’s amounts, you must log in and update it before the July 28, 2025, deadline. Failure to do so can disqualify you from upcoming invitation rounds.
What Documents Are Required?
When updating your Express Entry profile, you must upload an official letter from your financial institution. The letter should include:
All account numbers and opening dates
Current account balances
Average balance over the past 6 months
Details of any outstanding debts (credit cards, loans, etc.)
The letter must be printed on the institution’s official letterhead, and must be signed and stamped.
Who Must Provide Proof of Funds?
You need to show proof of funds if:
You are applying under the Federal Skilled Worker or Federal Skilled Trades program
You do not have a valid job offer in Canada
You are not authorized to work in Canada
You are exempt from this requirement if:
You have a valid job offer supported by an LMIA (Labour Market Impact Assessment)
You’re already in Canada and have valid work authorization
What Types of Funds Are Acceptable?
You can use:
Funds in your personal bank account
Joint accounts held with your spouse or common-law partner
Funds in your spouse’s account (if you can prove you have access)
Funds must be readily available, legally earned, and not borrowed. You cannot count equity from property sales or other illiquid assets.
Don’t Miss the Deadline – July 28, 2025
To remain in the Express Entry pool and stay eligible for upcoming draws, you must update your proof of funds by July 28, 2025.
Note: Updating proof of funds does not affect your CRS score or the date of your original profile submission — but failing to update can remove your profile from future consideration.
Note: Updating proof of funds does not affect your CRS score or the date of your original profile submission — but failing to update can remove your profile from future consideration.How Gunness & Associates Can Help You
At Gunness & Associates, we know how critical it is to keep your Express Entry profile compliant and up-to-date. Navigating immigration requirements can be overwhelming, but you don’t have to do it alone.
We offer:
Free Express Entry Assessments
Personalized support to update your Proof of Funds
Guidance on LMIA-supported job offers
Ongoing assistance with profile renewals, document review, and more
Whether you’re just starting your journey or need help ensuring your application is complete, our team is here to help.
Contact Gunness & Associates today to speak with one of our certified immigration consultants and find out how we can help you achieve your dream of moving to Canada.
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