Key Points
- Canada updated its fund requirement chart for applicants under select express entry programs
Overview
The government of Canada introduced new proof of fund requirements for express entry applicants under the Federal Skilled Worker Program and the Federal Skilled Trades Program, which will become effective on 2 June 2024.
Applicants must update their settlement fund numbers in their express entry program to remain eligible under these programs.
The government bases its proof of funds income requirements on 50% of the low-income cut-off total. Proof of funds is how individuals show the government that they have enough money to settle in Canada.
Looking Ahead
Continue to check the government of Canada’s website and Envoy Global’s website for the latest updates and information.
Content in this publication is for informational purposes only and not intended as legal advice, nor should it be relied on as such. For additional information on the issues discussed, consult an attorney at Corporate Immigration Partners, P.C., or another qualified professional of your choosing. On non-U.S. immigration issues, consult your Envoy representative, or another qualified representative of your choosing.
