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For those applying for permanent residency in Canada through the Federal Skilled Worker (FSW) and Federal Skilled Trades (FST) programs under the Express Entry system, proof of settlement funds corresponding to the number of family members is required under certain conditions.
IRCC annually updates these numbers every year, based on 50% of the low-income cut-off totals. starting from May 28th, the Proof of Funds (settlement funds) amount according to the family size will be increased. If you have already registered in the pool, make sure to update your profile by May 27th. Profiles with settlement funds lower than the updated criteria will be removed from the pool after May 28th.
Therefore, it’s crucial to confirm whether your profile has been updated to reflect the increased amount as indicated in the image.
✅ Proof of settlement funds is required for immigration through EE in the following cases:
- FSW (Federal Skilled Worker Program)
- FST (Federal Skilled Trades Program)
✅Who does not need proof of funds:
: You don’t need to show that you have enough money to support yourself and your family if
- you’re applying under the Canadian Experience Class or
- you’re authorized to work in Canada and you have a valid job offer, even if you apply under the Federal Skilled Worker Program or the Federal Skilled Trades Program
✅ The method of calculating family size includes yourself, your spouse (including common-law partner), and any dependent children under 21 years old, even if they are not residing in Canada at the time of the PR application.
Additionally, if the family size is seven or more, you can calculate by adding $3,958 per person to the minimum settlement funds requirement based on seven people.
At GS Consulting, we provide unparalleled, systematic, and professional total solutions. If you have any concerns about immigrating to Canada, we strongly recommend scheduling a consultation with us.
⚡One & Only Consulting, GS Consulting⚡
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