Proof of funds increased for Express Entry

The Canadian government has increased the proof of funds required for Express Entry.

Key Points:

• Foreign nationals who are under the Federal Skilled Worker program may need to update their settlement fund numbers in their Express Entry profile before June 9 to remain eligible for the program.
• Those who update their profile keep the original date and time that it was received and will maintain their rank within the selection process.
• The new proof of fund amounts are available within the chart on this website.

Additional Information: Foreign nationals entering Canada through the Federal Skilled Worker program are generally required to show proof of funds to prove that they can maintain a standard of living while in Canada. Proof of funds is not required if the foreign national is authorized to work in Canada and has a valid job offer. If an individual is invited to apply and does not meet the exception to the proof of funds requirement, they must give written proof that they have this money. More information regarding what types of proof are accepted is available here.

BAL Analysis: While the increases to the proof of funds requirements are small, the change could affect foreign nationals’ eligibility for the Federal Skilled Worker program. Such individuals are encouraged to check the new numbers and update their profiles as needed.

This alert has been provided by the BAL Global Practice group. For additional information, please contact berryapplemanleiden@bal.com.

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