In June 2024, IRCC quietly raised the settlement fund thresholds for Federal Skilled Worker and Federal Skilled Trades applicants. These updated figures remain in effect for 2025 and have already impacted applicants submitting new profiles or receiving Invitations to Apply.

To remain eligible under Express Entry, applicants must show access to a minimum amount of unencumbered funds. The exact figure depends on family size. For a single applicant, the new requirement is $14,690. For a couple, it's $18,288. A family of four must show $27,297. These amounts must be available both when the profile is submitted and at the time of PR application.

The funds must be readily available—cash in bank accounts, not property equity or borrowed funds. IRCC requires formal letters from financial institutions confirming account details, balances, and transaction history. Any significant or recent deposits must be clearly explained.

While Canadian Experience Class applicants are exempt from this requirement, those applying under FSW or FST must meet the threshold unless they are already authorized to work in Canada and hold a valid job offer.

At Marwah-Jad Immigration Law, we regularly advise clients on how to properly present proof of funds, including preparing compliant financial letters and addressing issues like joint accounts or gift transfers. If you're unsure whether your documentation meets IRCC expectations, we can help ensure it's done right before you submit.