Express Entry, step by step
Express Entry proof of funds: how much you need and how to prove it
If you apply through the Federal Skilled Worker Program from abroad, IRCC wants to see you can support yourself and your family on arrival. The amount is fixed by family size and the rules on what counts are strict.
Updated November 2026 · 3 min read
The short answer
- FSW and FST candidates must show settlement funds unless they're authorised to work in Canada and have a valid job offer. CEC candidates are exempt.
- In IRCC's July 2025 table, the minimum was CAD 15,263 for one person, CAD 28,362 for four, plus CAD 4,112 per extra person beyond seven. IRCC updates the table periodically.
- Funds must be available, transferable and not borrowed. Property, cars and investments you can't readily access don't count.
- Keep a 10–20% buffer above the minimum to absorb currency swings and fee increases.
1How much you need
| Family members (including you) | Minimum funds (CAD) |
|---|---|
| 1 | 15,263 |
| 2 | 19,001 |
| 3 | 23,360 |
| 4 | 28,362 |
| 5 | 32,168 |
| 6 | 36,280 |
| 7 | 40,392 |
| Each additional person | +4,112 |
Count every family member you include, even a spouse or child who won't come with you. The requirement applies when you submit your profile and again when you apply for PR, and you must still have the money when you land.
2What counts and what doesn't
Doesn't count
- Equity in a house or land
- Cars and other assets
- Borrowed money or a loan disbursement
- Money held by relatives on your behalf
- Locked investments you can't withdraw
Counts
- Savings and current accounts in your (or your spouse's) name
- Fixed deposits you can access
- Investments you can readily convert to cash
- Joint accounts with your accompanying spouse
3The bank letter IRCC expects
- Official letterhead with the bank's contact details.
- Your name, account numbers and the date each account was opened.
- Current balance of each account.
- Average balance over the past six months.
- Any outstanding debts, such as loans or credit cards.
4Why keep a buffer
If your savings are in another currency, a 5% exchange-rate move can drop you below the line on the day IRCC checks. The table can also be raised during your application. A 10–20% margin protects you against both. More on the full sequence in from ITA to landing.
5Frequently asked questions
Do CEC applicants need proof of funds?+
No. Canadian Experience Class candidates are exempt from settlement funds.
Can I use my parents' money as proof of funds?+
Only if it's genuinely transferred to you as a gift and held in your name. Document the gift with a gift letter and the transfer records.
Does a house count toward proof of funds?+
No. Property equity isn't accepted, because it isn't readily available cash.
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