On May 27, the Immigration, Refugees and Citizenship Canada (IRCC) revised the proof of funds (POF) criteria for candidates applying through the Express Entry system. This adjustment is part of an annual update that reflects the current low-income cut-off totals as published by Statistics Canada.
Note: Candidates with more money than the minimum requirement should list the full amount in their Express Entry profile or on their application & Express Entry Processing Timeline .
Here are the Express Entry candidates better under this requirement, CIC News has compiled a list of frequently asked questions.
What is the Updated funds requirement for Express Entry in 2024?
Express Entry POF requirement for 2024, as of May 28.
| No. Of Family Members | Funds required(in Canadian dollars) |
| 1 | $14,690 |
| 2 | $18,288 |
| 3 | $22,483 |
| 4 | $27,297 |
| 5 | $30,690 |
| 6 | $34,917 |
| 7 | $38,875 |
| If more than 7 people, for each additional family member | $3,958 |
Express Entry candidates must include both their spouse or common-law partner in any dependent children they have when calculating the size of their family for proof of funds.
This is a requirement even if a candidate’s family members are:
- Already Canadian citizens or permanent residents
- Not accompanying the principal applicant to Canada
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