On This Page You Will Find
- Who needs to show proof of funds under Express Entry
- Updated 2025 minimum settlement fund amounts
- What types of financial proof are accepted
- Who can be included in your family size
- What to know about bringing money to Canada
Who Needs to Show Proof of Funds?
If you are applying to immigrate to Canada through Express Entry under the Federal Skilled Worker (FSW) or Federal Skilled Trades (FST) programs, you must show you have enough money to support yourself and your family once you arrive.
You do not need to show proof of funds if:
- You are applying under the Canadian Experience Class (CEC)
- You are authorized to work in Canada and have a valid job offer
Minimum Settlement Funds Required for 2025
The minimum amount of money you need depends on your family size. This includes yourself, your spouse or common-law partner (if applicable), and any dependent children. You must count all family members, even if they are not coming to Canada or are already Canadian citizens or permanent residents.
Updated settlement fund requirements as of July 7, 2025:
| Number of 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 |
What Types of Proof Are Accepted?
Your funds must be readily available and unencumbered by debt. You cannot borrow the required amount from another person. The funds must be:
- Available from the time of application to the time of visa issuance
- Held in your name or a joint account with your spouse or partner
- If the funds are under your spouse’s name only, you must show you have access to them
Acceptable forms include:
- Bank account statements showing cash savings
- Official letters from financial institutions
- Investment accounts (with immediate liquidity)
- Guaranteed payment documents such as drafts or money orders
Assets like real estate or vehicles do not count as proof of funds.
Bringing Money Into Canada
When arriving in Canada, you should bring as much money as you reasonably can to ease your settlement process. Living costs vary across the country, so it’s wise to research housing and daily expenses in your destination city or town.
If you bring more than $10,000 CAD, you must declare it to a Canada Border Services Agency (CBSA) officer. You may carry funds in the form of:
- Cash
- Bank drafts
- Money orders
- Travellers’ cheques
- Certified cheques
- Stocks or bonds (with documentation)
Frequently Asked Questions (FAQ)
Who must provide proof of funds under Express Entry?
Only applicants under the Federal Skilled Worker or Federal Skilled Trades programs must show proof of funds, unless they already have a valid job offer in Canada or are already working legally in the country.
How recent must my bank statements be?
Your proof of funds should include a letter or statements dated within the last six months. These documents must show the average balance for that period and the current balance.
Can I use my spouse’s bank account as proof of funds?
Only if you can show you have access to the money. Ideally, your name should appear on the account or you should provide legal documentation that confirms shared access.
Do I need to show more money if my family is not coming with me?
Yes. Your family size includes your spouse and dependent children even if they are not accompanying you to Canada. This affects how much money you need to show.
What happens if my balance drops during processing?
You must maintain your funds from the time you apply until you receive permanent residence. If your balance drops below the required level, your application could be refused.
