money
We’ve 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 February 25, 2020.
Updating your profile doesn’t change the date and time that we received it, so you’ll keep your rank if you’re in a tie-breaker situation.
Proof of funds is how you show us that you have enough money to settle in Canada. If we invite you to apply, you must give written proof that you have this money.
You need proof of funds to meet the minimum requirements of the
You don’t need to show that you have enough money to support yourself and your family if
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.
The amount of money you need to support your family depends on the size of your family. To calculate the size of your family you must include
Include your spouse or dependent children even if they’re
This table shows the minimum amount you need to immigrate to Canada. If you have more money, you should list the full amount in your profile or application.
| Number of family members | Funds required (in Canadian dollars) |
|---|---|
| 1 | $12,960 |
| 2 | $16,135 |
| 3 | $19,836 |
| 4 | $24,083 |
| 5 | $27,315 |
| 6 | $30,806 |
| 7 | $34,299 |
| For each additional family member | $3,492 |
Funds must be readily available to you. For example, you can’t use equity on real property as proof of settlement funds.
You also can’t borrow this money from another person. You must be able to use this money to pay the costs of living for your family (even if they aren’t coming with you).
If your spouse is coming with you, you can count money you have together in a joint account. You may be able to count money in an account under their name only, but you must prove you have access to the money.
The funds must be available both when you apply and when (if) we issue you a permanent resident visa. You must prove to an immigration officer that you can legally access the money to use here when you arrive.
For proof, you must get official letters from any banks or financial institutions where you’re keeping money.
Letter(s) must
We update the minimum amount you need every year, based on 50% of the low income cut-off totals. The changes are small, but there is a chance they could affect your eligibility. Be sure to check the new numbers once they’re posted.
Research how much it costs to live in the place where you plan to settle in Canada.
Bring as much money as you can. This will make moving and finding a home in Canada easier. When you arrive in Canada, you have to tell the border officer if you’re bringing more than CAN$10,000 into Canada. If you don’t tell them, you may be fined, and your funds could be seized. This includes:
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