If you’re planning to immigrate to Canada through the Express Entry system, it’s important to be aware of a recent update that affects your eligibility. On July 7, 2025, Immigration, Refugees and Citizenship Canada (IRCC) raised the minimum funds required to apply under the Federal Skilled Worker Program and the Federal Skilled Trades Program. This change increases the overall Canadian Express Entry cost and could impact your ability to qualify unless your proof of funds is updated in time.
What Has Changed, and Why?
Each year, IRCC reviews the minimum fund requirements to reflect cost-of-living changes. The 2025 update has increased the amount of settlement funds applicants must show when submitting or updating their Express Entry profile. This change ensures newcomers have enough financial resources to support themselves and their families after arriving in Canada.
Applicants are now required to show several hundred dollars more than in previous years, depending on the number of family members included in their application. These funds must be available and unencumbered, meaning they cannot be borrowed or tied up in assets like real estate.
Who Needs to Meet the Updated Fund Requirement?
This update applies to candidates applying through the Federal Skilled Worker Program or the Federal Skilled Trades Program. However, those with a valid job offer in Canada or who are applying under the Canadian Experience Class do not need to meet the settlement fund requirement. That said, even exempt applicants are required to include a letter in their application confirming the exemption applies to them.
What Counts as Proof of Funds?
To meet the Canadian Express Entry cost requirement, applicants must submit official letters from their financial institutions. These letters must include details such as the type of accounts, current balances, average balances over the past six months, and any outstanding debts. The funds must be available at the time of application and must still be available when a permanent residence visa is issued.
Update Your Profile by the Deadline
If your Express Entry profile was submitted before the July 7 update, you must log in and update your proof of funds before July 28, 2025. Failing to update your profile could result in being removed from the Express Entry pool.
Let Pilkington Immigration Help
With the rising Canadian Express Entry cost and the strict documentation requirements, having professional guidance can make all the difference. Pilkington Immigration can help you review your proof of funds, update your profile, and ensure you meet every requirement. Contact us today to get expert support and move forward with confidence.