UPDATE: Proof of Funds for Skilled Immigrants

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IRCC has updated the table that shows how much money you need to settle in Canada. To stay eligible, you may need to update your settlement fund numbers in your Express Entry profile. The update must be done no later than July 15, 2021.

Who needs proof of funds

You need proof of funds to meet the minimum requirements of the:

  • Federal Skilled Worker Program
  • Federal Skilled Trades Program

Who does not need proof of funds

You don’t need to show that you have enough money to support yourself and your family if:

  • you’re applying under the Canadian Experience Class or
  • you’re authorized to work in Canada and you have a valid job offer, even if you apply under the Federal Skilled Worker Program or the Federal Skilled Trades Program 

How much money you’ll need

Keep your funds up to date in your profile. The system may find that you’re eligible for more than 1 program. You don’t always know ahead of time which program you’ll be invited under.

Disclaimer: The information from the newsletter is directly derived from IRCC. The material and information contained on this website is for informational purposes only and should not be construed as professional advice. Although best efforts have been made to ensure the accuracy of the information at the time of writing, we cannot guarantee the completeness or accuracy of all information. As information may change without notice, always refer to Immigration, Refugees and Citizenship Canada’s website for the most accurate and up-to-date information.

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