18/08/2022
*Proof of Fund needed for Express entry*
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Proof of funds are required for Federal Skilled Worker Program or Federal Skilled Trades Program. However, applicants under these categories don’t need proof of funds if they have authorization to work in Canada with a valid job offer.
*How to Calculate Settlement Funds*
Settlement funds for express entry depends upon the size of the applicant’s family. Size of the family must include:
Applicant.
Spouse or partner of applicant.
Dependent children and
Spouse’s dependent children.
For calculation of settlement funds spouse or dependent children must be included even if they are permanent residents/Canadian citizen or not accompanying the applicant to Canada.
Express Entry Funds Requirement
Number of
family members Funds required
(in Canadian dollars)
1 $13,310( #6,269,010)
2 $16,570( #7,804,470)
3 $20,371( #9,594,741)
4 $24,733( #11,649,243)
5 $28,052( #13,212,492)
6 $31,638( #14,901,498)
7 $35,224( #16,590,504)
For each additional family member is $3,586 ( #1,689,006).
Acceptable Proof Of Funds For Express Entry must be an official letters from any banks or financial institutions. And, it must be printed on the financial institution’s letterhead. It should also include
Their contact information (address, telephone number and email address)
Applicants name.
List of outstanding debts such as credit card, debts and loans
for each current bank and investment account.
The account numbers
date each account was opened.
Current balance of each account.
Average balance for the past 6 months.
The Express entry Masterclass guide shows you step by step on how to go about your relocation processes through Express entry