Proof of Funds for Canada’s Express Entry Program

Many foreign nationals who wish to apply for Canadian permanent residency through the Express Entry program must demonstrate that they have the financial ability to support their living and settlement expenses in Canada. This article explains the concept of proof of funds and outlines the details involved in the Express Entry application process.

What Is Proof of Funds for Canada’s Express Entry Program?

“Proof of funds” refers to the requirement for applicants to provide evidence showing they possess sufficient financial resources to support themselves and their family members during the initial stages of settlement in Canada.

This requirement applies to most immigration categories under the Express Entry system, as well as to applicants under Provincial Nominee Programs (PNPs).

Why Is Proof of Funds Required in Canadian Immigration?

Proof of funds is a key requirement in the Express Entry and Canadian immigration process, as it demonstrates that prospective immigrants have the financial means to support themselves and their families upon arrival in Canada.

The main purpose of this requirement is to ensure that newcomers can cover essential living expenses — such as housing, food, transportation, and other basic needs — without relying on government assistance.

By showing sufficient funds, applicants prove that they can integrate independently into Canadian society and make a positive contribution to the economy. This also helps prevent newcomers from facing financial hardship or depending on public resources.

In essence, the proof of funds requirement is a strategic measure designed to promote stable, successful, and self-sufficient immigration to Canada.

Who Must Provide Proof of Funds?

Applicants under the following immigration categories must demonstrate proof of funds:

• Federal Skilled Worker Program (Express Entry)

• Federal Skilled Trades Program (Express Entry)

• Provincial Nominee Programs (PNPs)

However, applicants under the Canadian Experience Class (CEC) and those applying through Quebec’s immigration programs are exempt from this requirement.

If you are applying through an economic immigration stream, it’s important to review the specific program requirements carefully to determine whether proof of settlement funds is necessary.

How Much Money Is Required?

The amount of money required as proof of funds depends on the applicant’s family size. Family members counted toward this requirement include:

• The principal applicant

• The applicant’s spouse or common-law partner

• Dependent children of the principal applicant

• Dependent children of the spouse or common-law partner

The money used to meet this requirement cannot be borrowed. Applicants must have unrestricted access to the funds to cover their living expenses — even if their spouse or children are not accompanying them to Canada.

If both spouses apply together, they may combine their financial records to meet the requirement.

Applicants currently authorised to work in Canada with a valid job offer are not required to show proof of funds.

Minimum Proof of Funds (as of July 7, 2025)

These figures are updated annually based on Canada’s Low Income Cut-Off (LICO).

What Is Accepted as Proof of Funds?

All proof of funds must be in the name of the principal applicant and/or their spouse or common-law partner. The funds cannot be borrowed and must remain available from the time of application until permanent residency is granted.

The immigration office may request updated financial records at any stage during the application process.

Applicants must submit an official letter from the financial institution or bank where the funds are held. This letter must include:

• Printed on the institution’s official letterhead

• The institution’s contact information (address, phone number, email)

• The applicant’s full name

• Details of any outstanding debts or loans

• For each account:

  • Account numbers

  • Date of account opening

  • Current account balance

  • Average balance for the past six months

Any documentation that does not meet these requirements may result in the refusal of the application at the discretion of the immigration officer.

Conclusion

Proof of funds is one of the most important components of the immigration process through Express Entry. It ensures that applicants are financially capable of beginning their new life in Canada and demonstrates their readiness to successfully integrate into Canadian society. Having valid and sufficient financial documentation is a crucial step toward achieving permanent residency in Canada.

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