Who needs proof of funds
Candidates in the Federal Skilled Worker and Federal Skilled Trades programs must show they have enough money to settle. You do not need to show funds if you are invited under the Canadian Experience Class, or if you are currently authorized to work in Canada and have a valid job offer.
How much
The amount depends on family size — you, your spouse or partner, and dependent children, even if they will not come with you. The table IRCC shows (dated July 7, 2025):
| Family members | Funds required (CAD) |
|---|---|
| 1 | 15,263 |
| 2 | 19,001 |
| 3 | 23,360 |
| 4 | 28,362 |
| 5 | 32,168 |
| 6 | 36,280 |
| 7 | 40,392 |
| Each additional person | 4,112 |
IRCC says it updates these amounts every year, based on half of the low-income cut-off. Check the official page for the current table before you apply.
What counts
- Money must be available to you when you apply and when your visa is issued.
- It cannot be borrowed, and equity in a home does not count.
- You need official letters from each bank or financial institution showing the account details and balances, usually with an average balance for recent months.
Common questions
Can funds be in a joint account with my spouse?
Yes, if your spouse is coming with you and you can show you have access to the money.
Do I need funds if I am applying through CEC?
No. CEC candidates are exempt.