📢 Express Entry Update: Changes to requirements for proof of settlement funds

Are you in the Express Entry pool or planning to apply soon under the Federal Skilled Worker Program (FSWP) or Federal Skilled Trades Program (FSTP)? Then pay close attention—IRCC has updated the minimum settlement funds you need to remain eligible for permanent residence.

Each year, Immigration, Refugees and Citizenship Canada (IRCC) updates this threshold based on 50% of the Low Income Cut-Off (LICO). These changes help ensure newcomers have sufficient funds to settle successfully in Canada.

🔁 What Changed?

On July 7, 2025, the required Proof of Funds (POF) amounts have been revised. If you’re in the Express Entry pool and your profile includes proof of funds, you must update it no later than July 28, 2025, to remain eligible.

Don’t worry—updating your profile will NOT affect your original submission date and time, so your place in a tie-breaker situation is still safe.

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🧾 Who Needs to Show Proof of Funds?

You must provide proof of settlement funds if:

• You’re applying under the Federal Skilled Worker Program
• You’re applying under the Federal Skilled Trades Program

This proof is mandatory—even if you already live in Canada—unless you meet one of the exceptions below.

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🚫 Who Is Exempt from Proof of Funds?

You don’t need to show POF if:

✅ You’re applying under the Canadian Experience Class (CEC)
✅ You have a valid job offer and authorization to work in Canada—even under FSWP or FSTP

💡 However, you must still upload a letter in place of the proof of funds document explaining that:

• You were invited under the CEC category, or
• You have a valid job offer and are authorized to work in Canada.

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💵 How Much Money Do You Need?

Here’s the updated minimum amount of funds required as of July 7, 2025:

Family Members	Funds Required (CAD)
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

💡 Include your spouse and dependent children—even if they’re not immigrating with you.

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🏦 What Counts as Acceptable Proof?

To meet IRCC standards, your proof of funds must be:

✅ Readily available both at the time of application and upon arrival in Canada
✅ In your name (or joint account with spouse)
✅ Unborrowed funds— Loans are not
✅ Not property equity or assets

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📄 You Need an Official Bank Letter

Each financial institution must issue a letter on official letterhead containing:

• Bank’s name, address, phone number, and email
• Your full name
• List of all current accounts
  • Account numbers
  • Open dates
  • Current balances
  • Average balance over the past 6 months
• Any outstanding debts like credit cards or loans

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💡 Tips to Stay Eligible

✅ Update your Express Entry profile with the new figures before July 28, 2025
✅ Ensure your funds are liquid and legally accessible

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✨ Final Word from Makeway Immigration

Proof of funds is one of the most common reasons applicants are found ineligible after receiving an Invitation to Apply (ITA). Don’t risk losing your chance over a technicality.

📌 At Makeway Immigration, we specialize in preparing flawless Express Entry applications—down to every letter and number. If you’re unsure whether you meet the new requirements or need help gathering your bank documents, we’re here for you.

📞 Contact us today at 778-385-2294 or 📧 email info@makewayimmigration.com to ensure your profile remains compliant and competitive.