Planning to move to Canada in 2026? A common question people ask is: how much money do I need to show? The most recent settlement fund amounts were updated on July 29, 2025. Applicants should always check the latest IRCC updates, as these figures may change.
Canada requires newcomers to demonstrate that they can support themselves upon arrival. As part of the Canada PR requirements, applicants must show that they have sufficient settlement funds, money that is readily available, unencumbered, and not borrowed or tied up in assets such as property. This requirement applies to several immigration pathways, including Express Entry and many Provincial Nominee Programs. Consulting with a licensed Canadian immigration consultant can help you determine which streams require proof of funds and the exact amount you need to demonstrate.
These amounts are in dollars (CAD):
1 person: $15,263
2 people: $19,001
3 people: $23,360
4 people: $28,362 5 people: $32,168 6 people: $36,280 7 people: $40,392 Each additional person beyond 7: +$4,112 These figures were officially confirmed by Immigration, Refugees and Citizenship Canada on July 29, 2025 and are subject to change based on future updates. Not every applicant needs to show settlement funds. Here is a quick breakdown: Express Entry (Federal Skilled Worker): Except Canadian Experience Class (CEC) candidates ,you need to show funds unless you have a valid job offer or are authorized to work in Canada. Provincial Nominee Programs (PNPs): Requirements vary by province. A trusted Canada PNP consultant will know the rules for your target province. Home Care Worker pilots: Proof of funds requirements may vary depending on the specific pilot and your employment status in Canada. Your funds must be available both when you apply and when your visa is issued. IRCC accepts the following: Bank account statements (including joint accounts with a spouse) Fixed deposits or term deposits Bank drafts, certified cheques or travellers cheques Official letters from your bank printed on bank letterhead Your bank letter must include account numbers, the date each account was opened, current balances and the average balance over the past six months. Borrowed money and home equity do not count. The minimum figures above are the floor. Cities like Toronto and Vancouver have higher living costs. It is wise to have at least six months of living expenses saved beyond the minimum. Also if you bring more than CAD $10,000 in cash into Canada you must declare it at customs or risk fines and seizure. Start building savings at least six months before applying. Keep funds in your name or a joint account with your spouse. Avoid unexplained deposits right before applying. Officers check your six-month average balance. Not sure how much you need or which program fits your profile? Our experienced Canada immigration consultants at Can-America Immigration will assess your situation, guide you on fund requirements and help you build an application. Whether through Express Entry, a PNP, or any other Canada PR pathway. Book a consultation today!Who Needs to Show Proof of Funds?
What Counts as Proof?
How Money Should You Actually Bring?
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