Reviewed by a Regulated Canadian Immigration Consultant (licensed by the CICC)Last updated:
Short answer
Federal Skilled Worker and Federal Skilled Trades candidates must show settlement funds based on family size: $15,263 for one person, $19,001 for two, $23,360 for three and $28,362 for four (amounts in effect since July 7, 2025). Canadian Experience Class candidates, and candidates authorized to work in Canada with a valid job offer, do not need to show these funds.
Settlement funds by family size
IRCC updates these amounts once a year based on the low-income cut-off. Always check the current table before you submit your profile and your application.
| 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 member | +$4,112 |
How to count your family size
Count yourself, your spouse or common-law partner and your dependent children, plus your partner’s dependent children. Count them even if they are not coming to Canada with you.
What counts as proof of funds
Borrowed money, equity in property and funds you cannot access do not count. Large recent deposits should be explained with documents, such as a sale agreement or a gift letter.
- Money in bank accounts that you can access and use, with no debt attached to it
- Fixed deposits and investments that can be cashed quickly, with proof of their value
- Funds held jointly with your spouse coming with you
Documents IRCC expects
- Official letters from each bank on letterhead, with contact details, your name, account numbers, opening dates, current balance and average balance for the past six months
- A list of outstanding debts such as loans and credit cards
- Statements that match the letters, when helpful
Common mistakes
- Showing funds for fewer family members than you have
- Keeping an old amount in your profile after IRCC updates the table
- Using a bank letter without the six-month average balance
- Large deposits right before applying with no explanation
Frequently asked questions
Do CEC candidates need proof of funds?
No. Canadian Experience Class candidates are exempt, and so are candidates authorized to work in Canada with a valid job offer.
Can I use money in my home country?
Yes, if it is yours, accessible and documented. You will need to bring or transfer it when you move.
Can my parents gift me the money?
A gift can count if the money is transferred to you and documented with a gift letter and proof of the transfer.
Information on this site is general and is not legal advice. We never guarantee approvals. Only Immigration, Refugees and Citizenship Canada (IRCC) makes decisions on applications.