Documents for Express Entry: Proof of funds

We updated the amount of money you need

We updated the table that shows how much money you need to settle in Canada. We update these numbers every year, based on 50% of the low income cut-off totals. 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 June 2, 2024.

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.

Who needs proof of funds

You need proof of funds to meet the minimum requirements of the

Who does not need proof of funds

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 system currently asks all applicants to provide a proof of funds document. If you don’t need to provide proof of funds, you must upload a letter explaining either that you have:

How much money you need

The amount of money you need to support your family is based the size of your family.

To calculate the size of your family include

You must include your spouse or common-law partner and 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.

Minimum amount of money you need to immigrate to Canada based on the size of your family

Updated June 3, 2024

Number of family members Funds you need
(in Canadian dollars)
1 $14,690
2 $18,288
3 $22,483
4 $27,297
5 $30,690
6 $34,917
7 $38,875
If more than 7 people, for each additional family member, add $3,958

What we accept as proof

For proof, you must get official letters from any banks or financial institutions where you have an account.

These letters must be printed on the financial institution’s letterhead and include

  • the bank or institution’s contact information (address, telephone number and email address)
  • your name
  • your outstanding debts (such as credit card debts and loans)
  • these details for each current banking and investment account you have with them
    • account numbers
    • date each account was opened
    • current account balances
    • average balance for the past 6 months

Your funds must be available to you both when.

You must prove to us that you can legally access the money here when you arrive.

For example, this means

You must be able to use this money to pay for your family’s costs of living (even if they aren’t coming with you).

How much money you should bring

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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