Express Entry Financial Requirements Canada 2025

Express Entry has no minimum income requirement to apply, but you must demonstrate sufficient settlement funds. Here is exactly what you need to know about Express Entry finances.

Express Entry: No Income Requirement

Express Entry itself — the points-based immigration selection system — does not have a minimum income or salary requirement to create a profile or receive an Invitation to Apply (ITA). Your Comprehensive Ranking System (CRS) score is based on factors like age, education, language proficiency, and work experience — not how much money you currently earn.

However, when you submit your permanent residency application after receiving an ITA, you must demonstrate that you have sufficient settlement funds to support yourself and your family when you arrive in Canada. This is separate from the CRS calculation and is a mandatory requirement for Federal Skilled Worker (FSW) and Federal Skilled Trades (FST) applicants. Canadian Experience Class (CEC) applicants who currently have a valid job offer or are already working in Canada are exempt from the settlement funds requirement.

Express Entry Settlement Funds Requirements 2025

Family Size	Funds Required (CAD)
1 person	$13,757
2 people	$17,127
3 people	$21,055
4 people	$25,564
5 people	$28,994
6 people	$32,700
7 people	$36,407
Each additional person	+$3,706

These amounts are based on the Low Income Cutoff (LICO) and are updated annually by IRCC (Immigration, Refugees and Citizenship Canada). Always verify current amounts at canada.ca before submitting your application.

What Counts as Settlement Funds?

Settlement funds must be unencumbered — meaning they must be free and clear, not borrowed money, not secured against debt. Acceptable fund types include:

• Cash in savings accounts, chequing accounts, or term deposits
• Stocks, bonds, and mutual funds (at current market value)
• A certified cheque from a financial institution

Funds that do not count include: credit card limits, lines of credit, borrowed funds, property equity (in most cases), pension funds that cannot be liquidated, and money that belongs to someone else.

How to Prove Settlement Funds

IRCC requires official documentation from your financial institution showing your settlement funds. This typically includes:

• A letter from your bank (in English or French, or with a certified translation) showing: your name, the account number, the balance, and confirmation that the account is in good standing
• Bank statements for the past 6 months showing the funds have been present consistently — funds that appeared suddenly just before the application may be questioned
• Investment statements showing the current value of holdings

The letter must generally be issued within the past 6 months. Some IRCC processing centres request letters issued within 3 months. When in doubt, get a fresh letter.

CRS Score Booster: Does Having More Money Help?

Simply having more settlement funds beyond the minimum does not directly boost your CRS score. However, having a job offer from a Canadian employer can add 50–200 points to your CRS score (depending on whether the offer is in an NOC TEER 0, 1, 2, or 3 occupation and whether it is a provincial nomination). Financial preparedness enables you to seek better employment opportunities in Canada, which can indirectly improve your Express Entry prospects.

Financial Planning Before Applying

If you are planning to apply through Express Entry, start building your settlement fund now with these strategies:

• Open a dedicated savings account for settlement funds and make regular contributions
• Avoid drawing down the fund once it reaches the minimum — maintaining a buffer above the minimum demonstrates financial stability
• Keep detailed bank statements for the past 6–12 months
• If your funds are in multiple accounts or currencies, calculate the CAD equivalent at current exchange rates
• Open a KOHO account for Canadian-dollar holdings if you have already entered Canada on a temporary permit