Immigration, Refugees and Citizenship Canada (IRCC) has updated the minimum settlement funds for Express Entry applicants. New figures took effect on July 7, 2025, and all profiles must be updated by July 28, 2025, to stay eligible.

New Minimum Settlement Funds (CAD)

Family Size	New Minimum Funds
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

_{Source: IRCC update, July 7, 2025}

You must include family members (spouse and dependent children) regardless of whether they are accompanying or not in the family size calculation to determine the minimum funds requirement.

Who Must Show Proof of Funds

• Federal Skilled Worker Program (FSWP) applicants
• Federal Skilled Trades Program (FSTP) applicants

Who is exempt?

• Canadian Experience Class (CEC) applicants
• Applicants with a valid Canadian job offer and authorization to work

Acceptable Documents

Letters from banks or financial institutions on their letterheads, which include:

• Your name and bank contact details
• Account numbers, opening dates, current balances
• Average balance over the last six months
• List of outstanding debts

Funds must be

• Readily available and liquid
• Legally acquired
• Free of debt or liens

It is important to note that borrowed funds or real estate equity are not accepted.

When do you update?

• Deadline: update by July 28, 2025
• Maintain eligibility: Outdated funds can lead to the profile becoming ineligible.
• CRS unaffected: Updating proof of funds won't change your CRS score but keeps your profile valid.

Next Steps

1. Log in to your IRCC account.
2. Go to the "Proof of funds" section.
3. Enter the updated amount for your family size.
4. Save and submit.

Final Thoughts

The July 2025 proof of funds update may seem minor, but missing the deadline could jeopardize your application. Act before July 28, 2025.

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