How Much Money Do You Need to Immigrate to Canada? Proof of Funds 2026

Proof of funds is one of the most common reasons applications are delayed or refused. Here are the current official amounts and the rules behind them.

Express Entry (Federal Skilled Worker & Federal Skilled Trades)

IRCC sets these amounts at 50% of the low-income cut-off and updates them every year. The current table was updated on July 7, 2025:

Who doesn’t need it: candidates invited under the Canadian Experience Class, and candidates who are authorized to work in Canada and have a valid job offer.

Count everyone: your family size includes your spouse and dependent children even if they are not coming with you.

Study permit (outside Quebec)

For study-permit applications made on or after September 1, 2026, the living-expense amount (not including tuition or travel) is $23,448 for a single student, rising to $29,192 for two people, $35,888 for three and $43,572 for four. You must also show you can pay your first year of tuition. Quebec has its own amounts.

What counts as proof?

• Official letters from every bank where you hold accounts, on letterhead, listing balances, account opening dates, average balance over the last six months and outstanding debts.
• The money must be available to you when you apply and when the visa is issued — you can’t borrow it from someone else.
• Equity in property generally does not count.

Common mistakes

• Large unexplained deposits shortly before applying.
• Leaving out a family member and showing too little.
• Bank letters missing the six-month average or debt information.

Use our proof of funds calculator to check your number, then contact us if you need help planning your documents.