Express Entry
Canada Updates Proof of Funds Requirements for Express Entry 2025 Applicants
Big news if you’re planning to apply under the Canada immigration system through Express Entry 2025. Starting July 7, 2025, Immigration, Refugees and Citizenship Canada (IRCC) has revised the minimum proof of funds required for Federal Skilled Worker (FSW) and Federal Skilled Trades (FST) applicants.
This annual adjustment reflects new economic benchmarks and directly affects your eligibility. If your profile is already in the pool, you have until July 28, 2025, to update your proof of funds, without losing your rank. Let’s break down what’s changed and what you need to do right now.
Who Needs to Provide Proof of Funds?
Only candidates applying under:
You don’t need proof of funds if you’re applying under the Canadian Experience Class (CEC) or have a valid job offer with authorization to work in Canada.
Updated Proof of Funds for Express Entry 2025
The revised amounts are based on 50% of Canada’s Low-Income Cut-Off (LICO) figures and depend on your family size.
| Family Size | Required Funds (CAD) |
| 1 | $15,263 |
| 2 | $19,001 |
| 3 | $23,360 |
| 4 | $28,362 |
| 5 | $32,168 |
| 6 | $36,280 |
| 7 | $40,392 |
| Additional member | +$4,112 |
Deadline to Update Your Profile: July 28, 2025
If you don’t update by then, your profile may no longer meet minimum eligibility.
What Counts as Proof of Funds?
IRCC needs official bank or financial institution letters on company letterhead. These should include:
- Bank name, contact info, and your name
- List of all accounts, balances, and average over the last 6 months
- Any outstanding debts (loans, credit cards)
- Opening dates of each account
Important:
- You must legally own and access the money.
- Real estate equity or borrowed funds don’t count.
- Funds in a joint account with your spouse may be considered.
- If the money is in your spouse’s name only, you must prove access.
Here’s a quick checklist:
- Check your current Express Entry profile
- Compare your declared funds with the new minimums
- Request updated letters from your financial institutions
- Update your profile before July 28, 2025
Reminder: Updating your profile does not change your submission date or ranking in tie-breaker scenarios.
Why It Matters for the Canada Immigration System
Accurate and updated proof of funds supports the Canada immigration system in assessing real settlement potential. It ensures newcomers can support themselves during the initial transition period. These changes reinforce the system’s integrity while aligning with real economic indicators.
Proof of funds is more than a technicality; it’s a critical part of your immigration journey through Express Entry 2025. If you’re applying through the Canada immigration system this year, take action fast. Update your profile, gather your documents, and make sure you meet the updated requirements. Let your immigration goals stay on track because preparation always pays off.
