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Settlement Funds for Express Entry Pathways

Q. I've been invited to apply to the Federal Skilled Trades Program through Express Entry, how much money do I need and what proof should I have ready? Submitted by Arie F.

Both the Federal Skilled Trades Program and the Federal Skilled Worker Program (FSWP) require proof of funds to meet the minimum requirements of Express Entry unless you are currently authorized to work in Canada, and have a valid job offer from an employer in Canada.

(For more information on the FSWP and Express Entry draws,

check out previous Ask Annie blogs here and here)

You need to show that you have enough funds to support yourself and any family members you have. The amount of money you need depends on the size of your family.

To calculate the size of your family you must include:

  • yourself

  • your spouse or partner

  • your dependent children and

  • your spouse’s dependent children

Include your spouse or dependent children even if they’re

  • permanent residents or Canadian citizens

  • not coming to Canada with you

As of June 9, 2022, the minimum amount of money you need to immigrate to Canada is as follows:

Number of family members Funds required(in Canadian dollars)

1 additional person $13,310

2 additional people $16,570

3 additional people $20,371

4 additional people $24,733

5 additional people $28,052

6 additional people $31,638

7 additional people $35,224

For each additional family member $3,586.

You should list the full amount in your profile or application if you have more money.

These minimum requirements are updated every year. This change in the requirements could affect your eligibility, so be sure to check the updated amounts when necessary.

Proof of Funds

Funds must be readily available to you.

For example, you can't use the equity on real property as proof of settlement funds. You also can’t borrow this money from another person.

You must be able to use this money to pay the costs of living for your family (even if they aren’t coming with you).

If your spouse is coming with you, you can count the money you have together in a joint account. You may be able to count money in an account under their name only, but you must prove you have access to the money.

The funds must be available both when you apply and when (if) we issue you a permanent resident visa. You must prove to an immigration officer that you can legally access the money to use here when you arrive.

For proof, you must get official letters from any banks or financial institutions where you’re keeping money.

These official letter(s) must:

  • be printed on the financial institution’s letterhead

  • include their contact information (address, telephone number, and email address)

  • include your name

  • list outstanding debts such as credit card debts and loans

  • include, for each current bank and investment account, the

    • account numbers

    • date each account was opened

    • current balance of each account

    • average balance for the past 6 months

Keep in mind these are the minimum requirements, not necessarily the optimal amount you will need to live comfortably. Research where in Canada you'd like to settle and that area's cost of living to get a better idea of how much money you should have before you immigrate.

When you arrive in Canada, you have to tell the border officer if you're bringing more than $10,000 CND into Canada. If you don't tell them, you may be fined, and your funds could be seized. This includes:

  • cash

  • documents that show property or capital payable to you, such as:




treasury bills

  • documents that guarantee payment of a set amount of money, which are payable to you, such as:

banker's drafts


money orders

travelers’ cheques

Immigration Station Canada will work with you and guide you through the best process to achieve your goals, wherever they lead!


About Us

Immigration Station Canada is a dedicated, professional Canadian Immigration firm practicing out of Northumberland County, just east of Toronto, in Canada. We serve clients from Kingston, Belleville, Brighton, Cobourg, Oshawa, the GTA, Guelph, Milton, Stratford and St. Catharines and around the world. Our Regulated Canadian Immigration Consultant, Anne C. McCaughey (Annie) is an experienced immigration services provider and a fifth-generation Canadian who values the immigration process and the unique individuals who immigrate to Canada to become part of the fabric of this wonderful country. If you would like to submit a question to Ask Annie, use the contact form.

How Can We Help? We do work permits, study permits, visitor visas, Express Entry, spousal sponsorship, family class sponsorship, and Canadian citizenship with expertise in Labour Market Impact Assessment (LMIA) applications and Global Talent Stream applications. Please contact us if you would like assistance with your immigration application or to book an appointment.

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