Key Points
- Increase to the minimum funds required for individuals applying under the Express Entry program
Overview
The government of Canada will increase the minimum amount of funds that individuals must possess to qualify under the Express Entry program. The amount will vary depending on the size of the applicant's family. Applicants under the Federal Skilled Worker program who are applying for permanent residence in Canada will need to update the settlement fund amounts in their Express Entry profile prior to 8 June 2022. New applicants should ensure that they have the minimum amount of required funds to qualify under the program.
These measures will not apply to individuals applying under the Canadian Experience Class or individuals who are authorized to work in Canada and hold a valid job offer.
What are the Changes?
The government of Canada increased the minimum amount of funds needed for individuals who are or have applied for permanent residence under the Express Entry program. Applicants will need to ensure that their profiles are updated to reflect these new requirements prior to 8 June 2022.
Looking Ahead
Continue to check the government of Canada's website and Envoy's website for the latest updates and information.
Originally published 26 May 2022.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.