A new minimum amount of settlement funds is required for Express Entry applications under the federal skilled worker class (FSWC),federal skilled trades class (FSTC) and Provincial Nominee Program (PNP) streams.
The funds required are determined by the principal applicant’s family size, including both accompanying and non-accompanying dependants, using 50% of the current low income cut‑off (LICO).
As LICO is updated on a yearly basis, the funds required change annually. For 2019, the new minimum amount of funds required applies to applications received on or after April 1, 2019. Applications received before April 1, 2019, have to be assessed based on the previous minimum amount of funds required.
Proof of funds is not required if either of the following applies:
- The principal applicant is authorized to work in Canada and has a valid offer of arranged employment.
- The principal applicant is applying under the Canadian experience class (CEC); this includes PNP applicants who are assessed under the CEC stream
| Number of family members |
Funds required (in Canadian dollars) |
|---|---|
| 1 | $12,669 |
| 2 | $15,772 |
| 3 | $19,390 |
| 4 | $23,542 |
| 5 | $26,701 |
| 6 | $30,114 |
| 7 | $33,528 |
| For each additional family member | $3,414 |
TMK Associates 