Canada updates Express Entry proof of funds for 2021

Canada announced their latest change to the Express Entry program. There is an updated Proof of Funds that an immigrant must provide to qualify for Express Entry. These changes are implemented in both the Federal Skilled Worker Program (FSWP) and the Federal Skilled Trades Program (FSTP). If you do have a valid job offer from these programs then this new change does not apply to you. The new update will start no later than July 15, 2021.

How Much Money Do I Need for Express Entry Now?

New Express Entry Proof of Funds. Here is an updated table that shows you how much money you need to settle in Canada:

Number of family members	Funds required in CAD
1	$13,213
2	$16,449
3	$20,222
4	$24,553
5	$27,847
6	$31,407
7	$34,967
Each additional family member $3,560

The proof of funds shows the government that you have enough money to settle in Canada. The amount of money you need to support you and your family depends on the household size. You will first calculate how large your family is, make sure to include the following people: yourself, your spouse or partner, your dependent children, and your spouse’s dependent children.

Note: you must include your spouse or dependent children even if they’re either;
1. permanent Residents or Canadian Citizens.
2. Not coming to Canada with you