Settlement Funds (Proof of Funds)
Settlement funds, also called proof of funds, are the money that Federal Skilled Worker and Federal Skilled Trades applicants must show they have to support themselves and their family after moving to Canada.
How much you need
| Family size | Funds required (CAD) |
|---|---|
| 1 | $15,263 |
| 2 | $19,001 |
| 3 | $23,360 |
| 4 | $28,362 |
| Each extra person | $4,112 |
These are IRCC's amounts effective July 7, 2025, still listed as of September 2026. IRCC usually updates them once a year, so check before you apply.
The money must be yours, available, and not borrowed; you usually show official bank letters listing balances and account history. You must still have the funds when you land, and family size includes your spouse and dependent children even if they are not coming. CEC applicants, and anyone authorized to work in Canada with a valid job offer, are exempt. See our proof of funds guide and calculator.
Frequently asked questions
Do CEC applicants need proof of funds?
No. The Canadian Experience Class is exempt.
Can I use a gift for proof of funds?
Gifted money can count if it is fully yours and documented, but borrowed money cannot.
Do my family members count if they are not coming?
Yes. Family size includes your spouse and dependent children even if they are not immigrating with you.
Official sources
- IRCC: Proof of fundscanada.ca
General information, not legal advice. NorthAmericans.com is independent and not affiliated with any government.