Canada’s Immigration, Refugees and Citizenship Canada (IRCC) has updated its Express Entry settlement fund requirements, effective July 7, 2025. A single applicant now needs to prove access to at least CAD 15,263 (approximately ₦17 million), up from CAD 14,690. For a family of two the threshold has increased to CAD 19,001 (about ₦21.2 million).
IRCC confirms these annual revisions reflect 50 percent of Canada’s low-income cut-off figures as determined by Statistics Canada. Applicants must update their proof-of-funds document in Express Entry profiles by July 28 to remain eligible without affecting their rank in the Comprehensive Ranking System. Proof must include official bank letters detailing account balances, history, and debts, and joint accounts may be used for married couples .
The revised rule applies to the Federal Skilled Worker and Skilled Trades programs but exempts applicants under the Canadian Experience Class or those with a valid job offer. The update ensures newcomers possess sufficient resources to support themselves and their dependents upon arrival, reinforcing Canada’s commitment to sustainable immigration.
