Canada Increases 2025 Express Entry Settlement Funds

2025 Update: New Minimum Settlement Funds for Express Entry Applicants

If you’re planning to immigrate to Canada through Express Entry, there’s an important update you need to know. As of July 7, 2025, Immigration, Refugees and Citizenship Canada (IRCC) has raised the minimum settlement fund requirements for certain immigration streams. This means if you’re applying under either the Federal Skilled Worker Program (FSWP) or the Federal Skilled Trades Program (FSTP), you’ll need to prove you have a bit more money set aside than before.

Let’s break down what’s changed, who it affects, and what you need to do to stay eligible.

Key Highlights

• The minimum settlement fund requirement increased by at least $500 per applicant or family size.
• This change impacts those applying under the FSWP and FSTP via Express Entry.
• Applicants must update proof of funds in their Express Entry profile by July 28, 2025.
• Proof must come from official financial documents and show accessible, unencumbered funds.
• Certain applicants, such as those in the Canadian Experience Class or with a valid job offer, are exempt.
• Settlement fund requirements are updated annually based on Canada’s low-income cut-off (LICO).

Why Did IRCC Increase the Settlement Fund Requirement?

Canada adjusts the minimum required settlement funds every year to reflect 50% of the low-income cut-off totals, which helps ensure that newcomers have enough money to support themselves and their families during their initial time in Canada. It’s a way to protect immigrants from financial hardship while they get settled.

How Much Money Do You Need to Immigrate to Canada in 2025?

The amount of money you need depends on your family size. Here’s the updated chart showing the current requirements compared to the previous amounts:

If your Express Entry profile contains outdated proof of funds, it’s crucial to update it before July 28, 2025 to maintain your eligibility. Don’t worry — you can make this change without affecting the rest of your profile.

Do You Need to Show Proof of Funds?

Not everyone applying through Express Entry needs to show proof of settlement funds. You’re exempt if:

• You’re applying under the Canadian Experience Class (CEC).
• You have a valid job offer in Canada and are authorized to work — even if you’re applying through FSWP or FSTP.

However, it’s still a good idea to keep your proof of funds up to date in your Express Entry profile. Why? Because the system may find you eligible for multiple programs — and if you’re selected under FSWP or FSTP, proof of funds will be required.

If you’re exempt, you’ll still need to upload a letter explaining your situation. The letter should confirm either:

• You’re applying under the CEC, or
• You have a valid job offer and are authorized to work in Canada.

How Express Entry Calculates Your Family Size

Your required funds depend on the number of people in your family — even if they’re not coming with you to Canada. Here’s who counts:

• You, the principal applicant
• Your spouse or common-law partner
• Your dependent children
• Your partner’s dependent children

Everyone must be included in your application, even if they’re already Canadian permanent residents or citizens, or if they’re not accompanying you.

What Qualifies as Proof of Funds?

Your proof of funds must come in the form of official letters from financial institutions. These letters must:

• Be printed on the institution’s letterhead
• Include contact information (address, phone number, and email)
• List your name
• Detail all current debts (credit cards, loans, etc.)
• Include details for each bank and investment account:
• Account numbers
• Date the account was opened
• Current balance
• Average balance for the past 6 months

It’s essential that the money is readily available — meaning you can access it both when you apply for permanent residence and when you arrive in Canada.

What Doesn’t Count as Proof of Funds?

Some financial resources aren’t acceptable as settlement funds. These include:

• Real estate assets or home equity
• Money borrowed from friends or family

If you share a joint account with your spouse, you can count that amount toward your settlement funds. Money in an account under your spouse’s name alone may also qualify — as long as you can prove you have access to it.

Why This Matters if You’re Planning to Immigrate to Canada

Having enough money to support yourself as a new immigrant is one of the most important parts of a successful move to Canada. These updated figures help ensure that newcomers can live comfortably while they get settled, look for work, and integrate into their new communities.

Whether you’re just starting your journey or you’re already in the Express Entry pool, staying on top of requirements like these is key. And if you’re applying through a different stream — like the Manitoba Provincial Nominee Program (MPNP) — different rules may apply. Make sure you’re familiar with the specific requirements for your immigration pathway.

Final Thoughts

Canada remains one of the top destinations for immigrants around the world — and with good reason. But as requirements evolve, it’s important to stay informed and act quickly to maintain your eligibility. If you’re applying through Express Entry, take a few minutes to review and update your settlement funds to reflect the new 2025 guidelines.

Need help figuring out if you meet the new criteria? Take our free eligibility assessment and find out where you stand today.

Looking for more guidance on immigrating to Canada? Check out our full guide to Express Entry and stay up to date with the latest updates.

Your Canadian dream is just a few steps away — and we’re here to help you every step of the way.