Foreigners with Express Entry profiles should take immediate action to maintain their dream of immigrating to Canada. Your Express Entry profile may become ineligible if you fail to meet the new requirement set by the Canadian authorities.
To stay eligible for the Round of Invitations Draws, you may need to update your proof of funds in your Express Entry profile. The update must be done no later than July 28, 2025.
If you are invited to apply for PR, you must give written proof that you have the required amount of funds in your bank account. Proof of funds is how you prove that you have enough money to settle in Canada.
The amount of money required for foreign nationals to immigrate to Canada has been updated by Immigration, Refugees and Citizenship Canada. On updating your Express Entry profile, there is no change in the date and time of the application. So, if you are in a tie-breaker position, your rank will remain unchanged.
Therefore, make sure you update your Express Entry profile with proof of funds by July 28.
Proof of Funds Updated Amount
The minimum amount of funds for Canada PR has increased by CAD $500, from $14,690 to $15,263. As an individual, you will require $15,263 in Canadian dollars (CAD) or Rs 9.5 lakh. For a family of two, you need CAD $19,001. One Canadian dollar is equivalent to around Rs 63.
Obtain official letters printed on the letterhead of the banks where you have an account as evidence. You can count the money you have in a joint account if your spouse is traveling with you.
You will have to update your Express Entry profile’s proof of finances in order to maintain your eligibility. The deadline for the update is July 28, 2025.
Updating Express Entry profile
You must update your profile if your situation changes, for example, if you start a new career, gain or lose a job offer, get a new language test, get married or divorced or have or adopt a new child.
Express Entry System
There are 3 immigration programs managed through Express Entry – Canadian Experience Class, Federal Skilled Worker Program and Federal Skilled Trades Program.
Even if you apply under the Federal Skilled Worker Program or the Federal Skilled Trades Program, you are exempt from demonstrating that you have sufficient income to sustain you and your family if you are applying under the Canadian Experience Class, are authorized to work in Canada, and have a legitimate job offer.
Getting permanent residency in Canada is through invitations only. As a skilled foreign worker, you can apply for Canada PR only if you have received an invitation.
To receive an invitation to apply for PR, the Canadian government uses Express Entry, an online system used to manage immigration applications from skilled workers.
If you want to immigrate to Canada as a skilled worker, the first step is to create a profile and submit it to the Express Entry pool. If you are eligible, you will be placed in the Express Entry pool with others who are also eligible and then given a score and a ranking using several factors.
If you are selected in the lottery draw held under the Round of Invitation, an invitation to apply to be a permanent resident of Canada is sent. Top applicants are invited to apply for permanent residence every two weeks by the IRCC, which ranks Express Entry candidates using the Comprehensive Ranking System (CRS). However, completing an online profile does not ensure an offer of permanent residency.