If you are preparing a Canada permanent residence application through Express Entry, proof of funds can be as important as your language test or work history. The practical questions are: how much money should you show, which family members count, and what must your bank letter say?
This Canada PR proof of funds 2026 explainer covers Federal Skilled Worker Program (FSWP) and Federal Skilled Trades Program (FSTP) applicants. It also explains when the requirement does not apply.
Important date note: The amounts below come from the live IRCC proof of funds page. IRCC marks its table updated 7 July 2025. These were the figures shown when we checked on 5 October 2026. Check IRCC again before submitting because the amounts can change.
Quick answer: IRCC currently lists CAD 15,263 for one family member and CAD 19,001 for two. This is money you must be able to access, not a payment to IRCC.
IRCC requires settlement funds for applicants who meet the minimum requirements of the FSWP or FSTP.
Canadian Experience Class (CEC) applicants do not need to show settlement funds. An FSWP or FSTP applicant may also be exempt if they are authorized to work in Canada and have a valid job offer. Both conditions matter. A job offer by itself is not enough.
Express Entry can find you eligible for more than one program. IRCC says its system currently asks all applicants to upload a proof of funds document. If you are exempt, upload a letter explaining the applicable CEC or work authorization and valid offer exemption.
For the wider eligibility rules, see our Canada Express Entry requirements page.
IRCC’s published Express Entry table shows these minimum amounts in Canadian dollars:
| Family members | Minimum funds (CAD) |
|---|---|
| 1 | 15,263 |
| 2 | 19,001 |
| 3 | 23,360 |
| 4 | 28,362 |
| 5 | 32,168 |
| 6 | 36,280 |
| 7 | 40,392 |
| Each additional person beyond 7 | Add 4,112 |
Source: IRCC Express Entry proof of funds table, updated 7 July 2025. Checked 5 October 2026.
Count yourself, your spouse or common-law partner, your dependent children, and your spouse or partner’s dependent children. IRCC says to count a spouse or dependent child even if that person is already a Canadian citizen or permanent resident, or is not coming to Canada.
For example, a couple with one dependent child uses the three-person amount, not the one-person amount. Use the Canadian dollar figure from IRCC rather than relying on an old INR conversion.
IRCC asks for an official letter from each bank or financial institution where you hold the relevant funds. Request it on the institution’s letterhead. The letter should include:
Statements can help explain transactions, but a screenshot of your current balance does not replace the bank letter IRCC describes. If your money is spread across different institutions, request the necessary letters from each one.
Keep the amount in your Express Entry profile accurate. IRCC may revise its minimums, and your available balance can also change.
Your settlement money must be legally accessible to you for your family’s living costs when you apply and when IRCC issues a permanent resident visa, if your application is approved.
IRCC says you cannot use borrowed money or equity in real property as settlement funds. A property valuation is therefore not a substitute for available money.
If your spouse is accompanying you, money in a joint account can count. Money held only in your spouse’s name may count if you can prove you can access it. If a large amount was recently deposited, keep truthful records explaining where it came from and showing your legal access to it. Do not assume that calling a transfer a “gift” automatically settles IRCC’s questions.
Settlement funds are separate from application expenses. Our Canada PR cost article covers fees. The amount in IRCC’s settlement funds table is not a visa fee and remains yours.
If you are still assessing your profile, use our Canada PR points calculator as a preliminary check. You can then review IRCC’s invitation rounds. Eligibility, ranking and proof of funds are separate questions.
IRCC’s table, updated 7 July 2025 and displayed when checked on 5 October 2026, lists CAD 15,263 for one person. Check the live IRCC table before applying because the amount can change.
No. IRCC exempts CEC applicants. Its system may still request an upload, in which case IRCC says to provide an explanatory letter.
No. IRCC says you cannot borrow settlement money from another person. It must be legally accessible for your family’s living costs.
Yes. IRCC includes a spouse or common-law partner and dependent children in family size even if they are not accompanying you.
IRCC asks for an official bank letter on letterhead with account details, current balances, six-month average balances and outstanding debts. Supporting statements can help explain the history but do not replace the specified letter.
No. Settlement funds are money you must show you can use after arriving in Canada. Government application charges and other expenses are separate.
NC Visas consultants can help you organise your Express Entry document questions and identify which records to request from your bank. The final eligibility and permanent residence decisions are made by IRCC.
Contact NC Visas consultants or explore our Canada immigration services.
Source and review note: Program rules and amounts in this article come from IRCC, Express Entry: Proof of funds, checked 5 October 2026. The official page controls if a figure here becomes outdated. This article is general information, not a decision on an individual application.
