The Government of Canada has shared updates on its proof of funds requirements, the Federal Skilled Worker Program (FSWP) and the Federal Skilled Trades Program (FSTP) requirements.
Effective July 7, 2025, applicants under the Federal Skilled Worker Program (FSWP) and the Federal Skilled Trades Program (FSTP) have a new proof of fund target to meet.
They must now show at least $500 more in available funds to qualify for permanent residency, the latest shows.
This update, published by Immigration, Refugees and Citizenship Canada (IRCC), means a single applicant must now present CAD 15,263, as against the CAD 14,690 it was previously.
The latest requirement represents a 3.4% increase, in the proof of funds requirements.
The increase affects all Express Entry applicants who do not have a valid job offer or Canadian work authorisation.
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Other important details about the latest proof of funds requirements are as follows:
- Single applicant: $15,263 (previously $14,690)
- Family of 2: $19,001 (previously $18,288)
- Family of 3: $23,360 (previously $22,483)
- Family of 4: $28,362 (previously $27,297)
- Family of 5: $32,168 (previously $30,690)
- Family of 6: $36,280 (previously $34,917)
- Family of 7: $40,392 (previously $38,875)
- Each additional family member $4,112 (previously $3,958)
Reviewed each year to reflect current socio-economic realities, Canada’s Low-Income Cut-Off (LICO), helps to ensure settlers are able to take care of themselves in Canada.
It should be noted there is a difference however with the Canadian Experience Class (CEC) and applicants who already have a valid job offer and work authorisation in the country.
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