Reference · Legal limits
Canada’s Express Entry minimum settlement funds by family size
A single applicant who must show settlement funds needs at least C$15,263 under the table that Immigration, Refugees and Citizenship Canada currently posts. The minimum reaches C$28,362 for four people and C$40,392 for seven. Count the family members IRCC specifies before matching your household to the threshold.
Sources checked
The minimum for four people is C$13,099 higher than for one. Starting at eight people, add C$4,112 per extra family member to the seven-person amount.
Start with the program on the invitation
The Federal Skilled Worker Program and the Federal Skilled Trades Program generally require settlement funds. The Canadian Experience Class is exempt. An applicant authorized to work in Canada who has a valid job offer is also exempt, including under the two skilled worker programs. IRCC tells exempt applicants to upload a letter explaining the exemption if the system requests a proof-of-funds document. Source 1
Family size can exceed the number travelling
Start with yourself, then include your spouse or common-law partner, your dependent children and your partner’s dependent children. IRCC includes these family members even if they already hold Canadian citizenship or permanent residence or will stay behind. A family of eight uses the seven-person minimum plus one increment, which is C$44,504. Source 1
Bank letters document more than the current balance
IRCC requests a letter from each bank or financial institution where the applicant holds qualifying money. It calls for institution contact details, the applicant’s name and outstanding debts, plus account numbers, opening dates, current balances and six-month average balances for current banking and investment accounts with that institution. Source 1
Keep the money accessible throughout the application
Funds must be available when you apply and when IRCC issues a permanent resident visa if it approves the application. Home equity and money borrowed from another person cannot establish this balance. IRCC allows funds in an accompanying spouse’s joint account and may accept funds in an account in that spouse’s name if the applicant can prove access. Source 1
Check the schedule date before relying on a number
IRCC says it revises the amounts annually using half of the low-income cut-off totals. The date printed with the table identifies the schedule used here. If IRCC publishes a newer table while a profile is active, check the new threshold and the agency’s instructions for updating the profile. Source 1