Maple News reports that Canada has updated the financial requirements for immigration candidates applying through two major federal immigration streams. As of July 7, 2025, Immigration, Refugees and Citizenship Canada (IRCC) has increased the minimum settlement funds required for applicants under the Federal Skilled Worker Program (FSWP) and the Federal Skilled Trades Program (FSTP).
This annual adjustment, guided by Canada’s Low-Income Cut-Off (LICO) thresholds, is designed to ensure that newcomers have sufficient financial resources to support themselves and their families upon arrival. This year’s update sees an increase of approximately $500 across most household sizes. For a single applicant, the new minimum is $15,263, up from $14,690. For a family of four, it’s now $28,362, compared to the previous $27,297.
The funds must be readily available and not borrowed and must be accompanied by acceptable proof, such as bank statements or official letters from financial institutions. All affected applicants must update their Express Entry profiles with valid proof of funds by July 28, 2025, to remain eligible in the pool.
The revised settlement fund amounts vary based on the size of the applicant’s family. For example, couples now need $19,001 (up from $18,288), and families of three must show $23,360 (previously $22,483). An additional $4,112 is required for each family member beyond seven individuals.
However, not all Express Entry candidates are required to show proof of funds. Those applying under the Canadian Experience Class (CEC) or who have a valid job offer and authorization to work in Canada are exempt, even if applying through the FSWP or FSTP.
Despite these exemptions, IRCC advises all Express Entry applicants to maintain updated financial information within their profiles. This is because the Comprehensive Ranking System (CRS) may determine eligibility for multiple pathways, and lack of up-to-date financial details could potentially disqualify candidates from certain draws.
These changes form part of Canada’s broader effort to support economic immigration and ensure successful settlement outcomes. Updated settlement fund levels help the government assess an immigrant’s ability to integrate economically and reduce the risk of financial hardship upon arrival.
Maple News will continue to monitor updates from IRCC and provide guidance to individuals navigating Canada’s evolving immigration system.