Proof of funds is how you show us that you have enough money to settle in Canada. If IRCC invites you to apply, you must give written proof that you have this money.
The amount of money you need to support your family depends on the size of your family. To calculate the size of your family you must include:
- your spouse or partner
- your dependent children and
- your spouse’s dependent children
Immigration, Refugees and Citizenship Canada (IRCC) has recently updated the table that shows how much money (commonly called “settlement fund” or “show money”) you need to settle in Canada.
This change will directly affect Express Entry skilled worker applicants in the pool, because to stay eligible, you may need to update your settlement fund numbers in your Express Entry profile.
The update must be done no later than July 15, 2021. Check out the updated minimum amount: Proof of funds – Skilled immigrants (Express Entry) – Canada.ca
Check out the useful links about Express Entry. Read about how COVID-19 is affecting IRCC: Coronavirus disease (COVID-19): Immigration applicants – Canada.ca