The Canadian government has raised the minimum residency finance condition for potential immigrants applying under the Express Entry system.
Starting July 7, 2025, candidates under the Federal Skilled Worker Program (FSWP) and the Federal Skilled Trades Program (FSTP) are required to indicate a minimum of $500 more in obtainable financed income to be eligible for permanent residency.
This update, posted by Immigration, Refugees, and Citizenship Canada (IRCC), implies that a single candidate is now required to submit CAD 15,263.
In 2024, the least evidence of funds for a single candidate was CAD 14,690, representing a 3.4% rise.
The rise impacts all Express Entry candidates who do not possess an authentic employment offer or Canadian job approval.
NEW MINIMUM FUND PREREQUISITES
The new evidence of funds threshold differs based on the size of the family. For each extra family member, an additional CAD 4,112 is needed. Below is the recent Evidence of Funds conditions:
- Single candidate: $15,263 (initially $14,690)
- 2 family members: $19,001 (initially $18,288)
- 3 family members: $23,360 (initially $22,483)
- 4 family members: $28,362 (initially $27,297)
- 5 family members: $32,168 (initially $30,690)
- 6 family members: $36,280 ( initially $34,917)
- 7 family members: $40,392 (initially $38,875)
- Each additional family member: Includes $4,112 (initially $3,958)
This yearly update is bound to Canada’s Low-Income Cut-Off (LICO) and is checked annually to make sure that new immigrants can appropriately sponsor themselves upon landing.
This updated condition applies only to candidates under the FSWP and FSTP. People making an application under the Canadian Experience Class (CEC) are excluded. Candidates who already possess an authentic employment offer and job approval in Canada do not need to present evidence of finances.
Hence, even if excluded, candidates are required to upload an official letter verifying their exclusion, either referencing their Canadian Experience Class (CEC) status or an authentic employment offer.
EVIDENCE EQUIPMENTS ANTICIPATED
Immigration, Refugees and Citizenship Canada (IRCC) stipulates that candidates are required to present official letters from banks or financial institutions, which are required to:
- Be printed on the organization’s letterhead
- Attach contact information, account numbers, and the date it was opened
- Indicate present and six-month average balances.
- Highlight any outstanding loans or responsibilities.
These finances must be readily obtainable and lawfully accessible at the time of request and upon arrival in Canada. Assets such as home equity, borrowed funds, or nonliquid investments are not approved.
WHAT TRAVELERS SHOULD KNOW
Canada has provisionally extended the qualification portal for foreign students impacted by the recent modifications to the Post-Graduation Work Permit (PGWP) scheme. Previously, thousands of non-degree diploma and certificate programs were to forfeit Post-Graduate Work Permit qualification by 25th June, 2025; however, the new laws will start in early 2026.
This change permits students who made an application for study permits between June 25 and July 4, 2025, to be still eligible under the old standard.
The list of Post-Graduate Work Permit-qualified programs has extended from 920 to 1,107, providing wider post-study work choices. Hence, the update also removed 178 programs, which include all in-transport-associated areas, while including 119 new programs, primarily in education.
The extension responds to widespread concern over the quick rollout of the modifications. Students who made an application before 25 June stay totally covered under the old laws. The exclusions for college bachelor’s, undergraduate, master’s, and PhD courses are still applied, and only students completing programs of a minimum of eight months at assigned institutions can be eligible for a Postgraduate Work Permit.
