Immigration Guide

Express Entry Proof of Funds: How Much You Need and What Counts

If you apply through the Federal Skilled Worker or Federal Skilled Trades Program, you must show you have enough money to settle in Canada. IRCC updates the amounts each year, so always check the current table before you apply.

Planning proof of funds for Canadian immigration

Who Needs It

Not every Express Entry candidate must show funds

Proof of funds applies to Federal Skilled Worker and Federal Skilled Trades applicants. Canadian Experience Class applicants are exempt, and so are applicants who are authorized to work in Canada and have a valid job offer.

Required for the Federal Skilled Worker and Federal Skilled Trades programs
Not required for the Canadian Experience Class
Not required if you are authorized to work in Canada and have a valid job offer
Funds must be available both when you apply and when your visa is issued

Current Amounts

Proof of funds amounts (updated July 7, 2025)

Amounts are in Canadian dollars and are updated every year. Confirm the current table on the IRCC website before you apply.

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

Each Additional Person

$4,112

Who Counts

You, your spouse or partner, your dependent children, and your spouse's dependent children, even if they are not coming with you or are already Canadian.

What Counts

What you can and cannot use

Counts: money in bank accounts, fixed deposits, and other assets that can be easily converted to cash, in your name or held jointly with your spouse.
Does not count: borrowed money from another person, and equity in property such as a house.
Must be available: you must be able to use the funds when you apply and when your permanent resident visa is issued.
Exchange rates: if your funds are in another currency, keep a buffer above the minimum in case the rate moves.

Bank Letters

How to prepare your bank letters

IRCC expects official letters from each financial institution where you keep money.

On the bank's letterhead, with the bank's contact details.
Your name and each account number.
The date each account was opened, the current balance, and the average balance over the past six months.
Outstanding debts, such as credit cards and loans.
Explain large recent deposits with supporting documents, such as a property sale or gift deed.

Related Resources

Related guides for your move

Express Entry 2026 Changes

Categories and job offer points.

Open Express Entry Guide →

Express Entry Guidance

Profile and CRS planning.

Open Guidance Page →

Cost of Living in the GTA

What settling really costs.

Open Budget Guide →

Immigration Legal Services

When you need a lawyer.

Open Legal Services →

Questions People Ask

Express Entry proof of funds: common questions

For applications using the amounts updated July 7, 2025: $15,263 for one person, $19,001 for two, $23,360 for three, $28,362 for four, rising to $40,392 for seven, plus $4,112 for each additional family member. Always check the current table on the IRCC website.

Canadian Experience Class applicants, and applicants who are authorized to work in Canada and have a valid job offer, even under the Federal Skilled Worker or Federal Skilled Trades programs.

No. You cannot borrow the money from another person, and equity in real property does not count.

Yes. Family size includes your spouse or partner and dependent children even if they are not coming with you.

IRCC asks for bank letters showing the current and average balance over the past six months, so funds that appear suddenly may need to be explained.

Want help preparing your Express Entry documents?

Book a consultation and we will help you plan your documents and timeline, and refer you to regulated legal support when needed.

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