Proof of funds is a key requirement for many people applying for permanent residence in Canada, but the amount and documents required depend on the immigration program.
For Express Entry, Immigration, Refugees and Citizenship Canada requires settlement funds from most candidates in the Federal Skilled Worker Program and Federal Skilled Trades Program.
The Canadian Experience Class generally does not require settlement funds, and some candidates with Canadian work authorization and a valid job offer are also exempt.
This guide explains the IRCC rules and amounts available from official Canadian sources as of November 2, 2026.
Table of Contents
Who needs proof of funds for Canada immigration
Under Express Entry, candidates need proof of funds to meet the minimum requirements of the Federal Skilled Worker Program or the Federal Skilled Trades Program.
Applicants under the Canadian Experience Class do not need to prove that they have settlement funds.
A candidate may also be exempt under the Federal Skilled Worker Program or Federal Skilled Trades Program if they are authorized to work in Canada and have a valid job offer.
The exemption applies even when the candidate may qualify for more than one Express Entry program.
The Express Entry system currently asks all applicants to upload a proof-of-funds document. An exempt applicant should upload a letter explaining that they were invited under the Canadian Experience Class or that they have a valid job offer and authorization to work in Canada.
Current Express Entry proof of funds amounts
IRCC’s current Express Entry settlement-funds table was updated on July 7, 2025. The official page continues to display these amounts as of November 2, 2026.
The required amount is based on the total size of the applicant’s family, not only on the number of people travelling to Canada.
| Family members | Minimum funds in Canadian dollars |
|---|---|
| 1 | $15,263 |
| 2 | $19,001 |
| 3 | $23,360 |
| 4 | $28,362 |
| 5 | $32,168 |
| 6 | $36,280 |
| 7 | $40,392 |
| Each additional family member | $4,112 |
These amounts are minimums. Candidates with more money should list the full amount available in their profile and application.
IRCC updates the settlement-funds amounts annually using a calculation based on 50% of the low-income cut-off totals.
How to calculate your family size
For proof-of-funds purposes, family size includes the principal applicant, a spouse or common-law partner, dependent children and the dependent children of the spouse or common-law partner.
Family members must be counted even when they are Canadian citizens or permanent residents.
They must also be counted if they are not accompanying the applicant to Canada.
This means an applicant cannot reduce the required amount simply because a spouse or child will remain outside Canada.
Applicants should use the family information declared in their immigration application when calculating the required settlement funds.
What documents can prove settlement funds
For Express Entry, applicants must obtain official letters from every bank or financial institution where they hold an account that they are using to demonstrate available funds.
The letter should be printed on the institution’s letterhead and include the institution’s address, telephone number and email address.
It should also identify the applicant and list outstanding debts, including credit-card debts and loans.
For each current banking or investment account, the letter should include the account number, the date the account was opened, the current balance and the average balance during the previous six months.
Applicants may need more than one bank letter when their money is held at different financial institutions. Applicants should keep statements and supporting records available in case they need to explain large deposits, transfers or changes in balances.
Rules about access to the money
The funds must be available to the applicant when the application is submitted and when IRCC issues a permanent resident visa if the application is approved.
The applicant must also be able to legally access and use the money after arriving in Canada.
Equity in real estate cannot be used as settlement funds.
Money borrowed from another person cannot be used to meet the requirement.
Applicants should not rely on investments or accounts that cannot be liquidated or accessed when needed.
Money in a joint account with a spouse may be counted when the spouse is accompanying the applicant.
Funds held only in a spouse’s account may also be accepted, but the applicant must prove that they have access to the money.
Proof of funds for other Canadian immigration programs
Express Entry is not the only Canadian immigration pathway with a settlement-funds requirement. IRCC identifies the Atlantic Immigration Program, the Rural Community Immigration Pilot, the Francophone Community Immigration Pilot and the Start-Up Visa Program among applications that may require proof of funds or income.
Atlantic Immigration Program
The Atlantic Immigration Program requires applicants to show that they can support themselves and their family after arriving in Canada.
The current AIP table was updated on July 29, 2025.
The minimum is $3,815 for one family member, $4,750 for two, $5,840 for three and $7,090 for four.
The amount rises to $8,042 for five family members, $9,070 for six and $10,098 for seven. Each additional family member adds $1,028.
A person already living and working in Canada with a valid work permit does not need to show proof of funds for the AIP.
Francophone Community Immigration Pilot
The Francophone Community Immigration Pilot requires settlement funds unless the applicant is already working in Canada with a valid work permit.
The current table was updated on July 29, 2025.
The minimum ranges from $10,507 for one family member to $27,806 for seven family members. Each additional family member adds $2,831.
IRCC lists bank account statements, bank drafts, cheques and money orders as examples of acceptable proof for this pilot.
Rural Community Immigration Pilot
The Rural Community Immigration Pilot requires applicants to provide proof of settlement funds. Applicants should follow the current RCIP application page, document checklist and pilot instructions for the required evidence and any applicable exemption.
Start-Up Visa Program
The Start-Up Visa Program has a settlement-funds requirement for applicants who are being processed under the program. However, IRCC says the program is paused and is not currently accepting new applications. The limited exception applies to applicants who had a valid commitment from a designated organization made in 2025 and had not yet applied.
Proof of funds is different from showing income
Settlement funds are not the same as employment income, annual salary or a minimum bank balance maintained for a temporary period.
IRCC assesses whether the applicant has legally accessible money to support the family after arrival.
A bank letter should therefore be consistent with the information in the application and should not conceal debts, loans or the source of unusual deposits.
Meeting the funds requirement does not guarantee approval for permanent residence. Applicants must still satisfy the applicable program’s requirements for work experience, language ability, education, admissibility and other supporting documents.
What happens if the funds change after applying
Applicants must retain access to the required funds during processing because IRCC requires the money to be available both when the application is submitted and when a permanent resident visa is issued, if the application is approved.
A decrease below the applicable amount can create a problem if the applicant no longer has enough legally accessible money.
Applicants should keep updated statements and be prepared to explain significant changes in account balances.
Express Entry candidates should keep the funds information in their profile accurate and update it when their financial circumstances change.
Cash declaration when entering Canada
Proof of funds for an immigration application is separate from Canada’s border declaration rules.
Travellers entering Canada with CAN$10,000 or more, or the equivalent in another currency, must declare the funds to the Canada Border Services Agency.
The declaration requirement can apply to cash and monetary instruments such as securities, bank drafts, cheques, travellers’ cheques and money orders.
Failure to declare reportable funds can lead to penalties and seizure of the money.
Proof-of-funds checklist for applicants
- Confirm which immigration program you are applying under.
- Check whether the program provides an exemption.
- Count every family member, including non-accompanying family members.
- Compare the required amount with the current balance and six-month average.
- Request official letters from every relevant bank or financial institution.
- List debts and keep records explaining large or recent deposits.
- Confirm that the funds are legally accessible and not borrowed.
- Keep access to the required funds until IRCC has issued a final decision and, where applicable, a permanent resident visa.
- Use the program-specific document checklist before submitting the application.
The safest approach is to use the IRCC table for the exact program, family size and application date rather than relying on older settlement-funds figures found online.
Frequently Asked Questions
How much proof of funds is required for Canada immigration?
For Express Entry, the current minimum is $15,263 for one family member, $19,001 for two, $23,360 for three and $28,362 for four. The amount increases with family size.
Who does not need proof of funds under Express Entry?
Candidates applying under the Canadian Experience Class do not need settlement funds. Certain candidates authorized to work in Canada with a valid job offer may also be exempt under the Federal Skilled Worker Program or Federal Skilled Trades Program.
Can borrowed money be used as proof of funds for Canada immigration?
No. IRCC requires applicants to prove that they can legally access the funds and specifically says borrowed money cannot be used as settlement funds.
Can a spouse’s bank account be used for proof of funds?
It may be possible, but the applicant must demonstrate access to the money. Funds held in a joint account with an accompanying spouse may also be counted.
Do non-accompanying family members count toward proof of funds?
Yes. A spouse, common-law partner and dependent children must be included in the family-size calculation even if they are not travelling to Canada.
Fact-Checked: Checked against current IRCC pages for Express Entry, the Atlantic Immigration Program and the Francophone Community Immigration Pilot on November 2, 2026. The current Express Entry table is identified by IRCC as updated July 7, 2025, while the AIP and FCIP tables are identified as updated July 29, 2025. ([canada.ca](https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/documents/proof-funds.html?utm_source=openai))
Disclaimer: This article is general information and does not replace the program instructions or individualized legal advice.
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