Immigration, Refugees, and Citizenship Canada (IRCC) has increased the proof of settlement funds required for Express Entry candidates. Express Entry candidates in the Federal Skilled Worker Program (FSWP) and the Federal Skilled Trades Program (FSTP) have until Wednesday, June 8, 2022, to update their proof of funds.
The increased proof of settlement funds requirement does not apply to FSWP or FSTP candidates that have a valid job offer in Canada. It also does not apply to Canadian Experience Class (candidates).
The minimum amount of funds required is updated every year. It is based on 50% of the low income cut-off totals.
If you currently have less than the below amounts listed on your documents, you have until June 8th to update your profile to reflect that you have the increased proof of settlement funds required. You will need the following amount of funds to remain eligible to immigrate to Canada under these programs.
The funds needed to support your family depends on the size of your family. Your family includes yourself, your spouse or partner, your dependent children, and you spouse’s dependent children. You must include your spouse and dependent children even if they are already permanent residents or Canadian citizens, and even if they are not coming to Canada with you.
The funds must be readily available to you, and you cannot borrow these funds from another person. If your spouse is coming with you, you can count the money you hold together in a joint account. The funds must be available both when you apply for immigration and when you are issued a permanent resident visa. You should provide proof of settlement funds in the form of official letters from banks and financial institutions.
If you do not update your application to provide proof of the required settlement funds by June 8th, you may no longer be considered eligible for immigration as an Express Entry candidate.
How can we help?
Immigration programs and requirements are always changing. One way to stay abreast of these updates, and to ensure that your application process runs smoothly, is by hiring an experienced lawyer.
At the Law Office of Matthew Jeffery, we have years of experience successfully assisting clients navigate Canada’s immigration processes from start to finish. Hiring an experienced lawyer to help you prepare and submit your application can help you better understand your options and increase your chances of receiving a successful result. We are experts in difficult and complicated cases, and may be able to assist you with your case.
We have years of experience assisting applicants with their permanent residence applications through the Express Entry system. See if you qualify by calculating your CRS score.