Home > Work in Canada > Permanent Residency > Express Entry: The Ultimate Guide > Express Entry: Step-by-Step Guide > Settlement Funds
For Express Entry, you first need to know if you have to provide proof of settlement funds. You can do that by visiting our Express Entry guide or by looking at the eligibility step here.
How much money do you need?
The money needed to be eligible mainly depends on the number of members in the family of the principal applicant. The number of members has to cover:
If the spouse and/or the dependent children are Canadian citizens or permanent residents, they need to be included in the calculation of the family size.
If your spouse is coming with you, you can count money that you have together in a joint account. You may be able to count money in an account under the spouse's name only, but you must prove you have access to the money.
Below is the minimum required funds (in Canadian dollars), applicable beginning June 3, 2024. Express Entry profile holders must update their profiles before this date.
- the principal applicant,
- their spouse/partner, and
- their & their spouses's dependent children.
If the spouse and/or the dependent children are Canadian citizens or permanent residents, they need to be included in the calculation of the family size.
If your spouse is coming with you, you can count money that you have together in a joint account. You may be able to count money in an account under the spouse's name only, but you must prove you have access to the money.
Below is the minimum required funds (in Canadian dollars), applicable beginning June 3, 2024. Express Entry profile holders must update their profiles before this date.
Family Size | Required Funds |
---|---|
1 | 14,690 CAD |
2 | 18,288 CAD |
3 | 22,483 CAD |
4 | 27,297 CAD |
5 | 30,690 CAD |
6 | 34,917 CAD |
7 | 38,875 CAD |
For every extra family member | $3,958 CAD |