Canada’s Express Entry program remains the most popular immigration pathway for skilled workers in 2025. While education, work experience, and language ability are critical factors in securing an Invitation to Apply (ITA), many applicants underestimate the financial requirements. Proof of funds is a cornerstone of eligibility for most candidates, ensuring newcomers can support themselves and their families upon arrival.
The Updated Proof of Funds in 2025
Each year, Immigration, Refugees and Citizenship Canada (IRCC) reviews the financial thresholds for Express Entry. For 2025, the minimum proof of funds has been adjusted in line with inflation and the rising cost of living across the country. Applicants must show that they have sufficient liquid savings, easily accessible, and not tied up in property or long-term investments.
How Much Money Do You Need?
The required settlement funds depend on family size. Single applicants need less than families with dependents, but everyone must meet the minimum threshold. These funds can be in the form of bank balances, fixed deposits, or investment accounts, provided they are accessible at any time.
| Family Size | Minimum Settlement Funds 2025 (CAD) |
|---|---|
| 1 person | $14,100 |
| 2 people | $17,500 |
| 3 people | $21,500 |
| 4 people | $26,100 |
| 5 people | $29,600 |
| 6 people | $33,300 |
| 7 people | $36,900 |
| Each additional member | +$3,700 |
Note: These figures reflect the updated 2025 guidelines and are subject to change if IRCC makes mid-year adjustments.
Who Does Not Need Proof of Funds?
Not all applicants are required to show settlement funds. If you are applying under the Canadian Experience Class (CEC) or have a valid job offer with authorization to work in Canada, proof of funds is not mandatory. However, many Federal Skilled Worker and Federal Skilled Trades applicants must provide it.
Preparing Your Financial Documents
Meeting the required amount is only half the task. Applicants must also provide clear, official documentation from banks or financial institutions. Statements should include balances, account history, and confirmation of account ownership. Any inconsistencies or incomplete details may delay application processing.
Why Staying Financially Ready Matters
Even after meeting the minimum requirement, successful applicants should plan for additional costs such as airfare, housing deposits, transportation, and initial settlement expenses. Having extra savings provides a safety cushion during the first few months in Canada, when finding employment may take time.
Final Thoughts
The 2025 financial checklist for Express Entry is not just about numbers on paper it reflects readiness for a new life in Canada. By ensuring your funds are sufficient, properly documented, and accessible, you strengthen your application and your transition into Canadian society.