How much money you need to show
A single applicant to Canada's Express Entry must show $15,263 (IRCC, effective July 7, 2025) in settlement funds. A family of four must show $28,362. The amount rises with each family member. Dependants who are not travelling with you count toward family size. This is not a fee. You prove the money exists. You never pay it to anyone.
Your estimate
You need to show at least
$15,263 (IRCC, effective July 7, 2025)
In Canadian dollars. The money must be yours, available to you, and not borrowed.
Who does not need to show funds
- People applying through the Canadian Experience Class.
- People who are allowed to work in Canada and have a valid job offer from a Canadian employer.
Your answers come with you, so you are not asked twice.
What this is
Canada requires Express Entry applicants to prove settlement funds before they apply. The money is never paid to IRCC. You show it exists in an account you control.
The required amount depends on family size. IRCC counts dependants who stay behind as well as those who travel with you.
The amounts
| Family size | Funds required (CAD) |
|---|---|
| 1 | $15,263 (IRCC, effective July 7, 2025) |
| 2 | $19,001 (IRCC, effective July 7, 2025) |
| 3 | $23,360 (IRCC, effective July 7, 2025) |
| 4 | $28,362 (IRCC, effective July 7, 2025) |
| 5 | $32,168 (IRCC, effective July 7, 2025) |
| 6 | $36,280 (IRCC, effective July 7, 2025) |
| 7 | $40,392 (IRCC, effective July 7, 2025) |
| Each additional family member | add $4,112 (IRCC, effective July 7, 2025) |
Source: IRCC, effective July 7, 2025
How much you need for a study permit
A study permit uses a different requirement from Express Entry. You must show enough to cover your first year of tuition plus living costs for yourself and anyone coming with you.
IRCC publishes study-permit living-cost amounts by province and family size. Those living-cost figures are not yet in our facts file, so we do not render a table here. Check IRCC's study permit financial requirements for the current amounts before you apply.
Paying tuition upfront does not remove the living-cost requirement. You still show funds for living costs. A family member's account is not automatically acceptable unless you can prove access and the relationship.
What counts as proof
Counts: money in bank accounts you can withdraw from. A joint account with your spouse is fine. Funds in an account held only by your spouse need proof that you can access them.
Does not count: borrowed money. Equity in property does not count. Anything you cannot access freely does not count.
IRCC asks for a letter from each institution holding your money, on letterhead, showing your name, outstanding debts, and for each account the number, opening date, current balance, and average balance over the past six months.
A deposit that landed last month raises your current balance but not your six-month average. The money must be available when you apply and when your visa is issued.
This is an estimate from the official rules as we last checked them. It is general information, not legal advice. Always confirm on canada.ca or gov.uk before you apply.
Related guides and tools
Common questions
- How much proof of funds do I need for Canada Express Entry?
The amount depends on family size and is set by IRCC in a published table. A single applicant must show $15,263 (IRCC, effective July 7, 2025). Use the table above or the calculator for other family sizes.
- How much money do I need to show for a Canadian study permit?
A study permit requires tuition for your first year plus living costs for you and any dependants travelling with you. IRCC sets the living-cost figures by province; check canada.ca for the current table because we do not publish those amounts until they are in our verified facts file.
- Does proof of funds include money I owe?
No. IRCC expects unencumbered funds you can access. Debts and loans count against you in the bank letter, not toward the requirement.
- Can I use a loan as proof of funds?
No. Borrowed money is explicitly excluded. IRCC requires funds that are legally yours and freely available.
- Do I need proof of funds if I have a valid job offer?
Most Federal Skilled Worker and Federal Skilled Trades applicants need settlement funds unless IRCC's published exemptions apply, for example authorised to work in Canada with a valid job offer. Canadian Experience Class applicants are generally exempt. Confirm your programme on canada.ca before you apply.
- How long must the money be in my account?
IRCC publishes no fixed minimum holding period. The bank letter shows your six-month average balance, so recently deposited funds will be visible and you should be ready to explain where they came from.
Rules last checked on October 20, 2026.