Express Entry Proof of Funds Calculator
Calculate if your savings meet the minimum funds required to settle in Canada.
Financial Parameters
Required Funds Status
Note: Candidates in the Canadian Experience Class (CEC) and those with a valid job offer and work permit are exempt from proof of funds.
Common Settlement Fund Mistakes
Steer clear of these missteps when proving your financial eligibility to IRCC.
Borrowing money or taking a loan
IRCC requires your funds to be debt-free and liquid. Borrowing money will lead to the rejection of your permanent residency application.
Not updating savings to 2025/2026 thresholds
IRCC adjusts settlement fund scales annually. Applying with less than the updated minimum requirement results in immediate rejection.
Forgetting that CEC applicants are exempt
Candidates selected under the Canadian Experience Class do not need to provide proof of funds, even if the portal prompts for a document upload.
Frequently Asked Questions
- Who needs to show proof of funds for Canada?
- Candidates applying under the Federal Skilled Worker Program (FSWP) and Federal Skilled Trades Program (FSTP) must show proof of funds. Canadian Experience Class (CEC) candidates are exempt.
- Can I borrow money for proof of funds?
- No. The funds must be liquid, unencumbered by debt, and readily available to you. You cannot borrow this money from another person.
Related Tool
Express Entry CRS Calculator
Estimate your CRS points to see if you qualify for a permanent residence invitation.