The IRCC will update the Proof of Fund for Express Entry
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On May 27, Immigration, Refugees and Citizenship Canada revised the proof-of-funds (POF) criteria.Express Entry System. This adjustment is part a yearly update that reflects current low-income threshold totals published by Statistics Canada.
Note:Candidates with more than the minimum amount should list the total amount in their Express Entry profiles or on their applications.amp; Timeline for Express Entry Processing .
CIC News compiled a list with frequently asked questions to help you understand the candidates for Express Entry.
What is the updated funds requirement for Express Entry 2024?
As of May 28, 2024, the Express Entry POF requirement will be in place.
| No. No. | Funds required(in Canadian dollars) |
| 1 | $14,690 |
| 2 | $18,288 |
| 3 | $22,483 |
| 4 | $27,297 |
| 5 | $30,690 |
| 6 | $34,917 |
| 7 | $38,875 |
| For each additional family member | $3,958 |
When calculating their family size for proof of finances, Express Entry applicants must include their spouse or common law partner as well as any dependent children.
This is a requirement even if a candidate’s family members are:
- Already Canadian citizens and permanent residents
- Not accompanying principal applicant to Canada
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‘ Credit:
Original content by lebizcanada.com – “IRCC Will Update The Proof Of Fund For Express Entry ”
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