How much money do I need for Express Entry?
The amount depends on your family size. For a single applicant the 2024 requirement is about CAD 14,690, rising with each additional family member. The funds must be available when you apply and when you receive an invitation.
Do I need proof of funds for the Canadian Experience Class?
No. Canadian Experience Class applicants and candidates with a valid job offer who are authorized to work in Canada are exempt from the proof of funds requirement. Federal Skilled Worker and Federal Skilled Trades applicants without a job offer must show funds.
What counts as acceptable proof of funds?
Official letters from banks or financial institutions listing account balances, account histories, and any outstanding debts. Funds must be unencumbered, not borrowed, and available for you to use to settle in Canada.
Does family size include non-accompanying dependents?
Yes. You must count your spouse or partner and all dependent children when calculating required funds, even if some of them are not coming to Canada with you.