Archive · 4 Aug 2025
Canada Increases Financial Thresholds for Economic Immigrants
Canada is making changes to the amount of money people need to have to immigrate.
Starting July 29, 2025, people applying to come to Canada must show they have enough money to support themselves.
The amount depends on how many people are in their family.
Applicants must provide official bank letters to show they have the required funds.
They also need to be able to access the money when they apply and when they get their visa.
If immigrants bring in more than CAN$10,000, they must tell customs about it.
Canada increased minimum financial requirements for economic immigration applicants.
New settlement fund thresholds are effective from July 29, 2025.
Amounts are 12.5% above the Low Income Cut-Off and vary based on family size.
Applicants must prove access to liquid, unencumbered funds at application and visa issuance.
Amounts over CAN$10,000 brought into Canada must be declared to customs.
- Who
- Immigration, Refugees and Citizenship Canada (IRCC) and economic immigration applicants.
- What
- Canada is increasing the minimum financial requirements for economic immigration applicants.
- When
- The new requirements come into effect on July 29, 2025.
- Where
- Canada
- Why
- To ensure immigrants have sufficient funds for initial settlement.
Applicants
N/A
Financial Impact
Applicants
May face increased financial burdens.
N/A
N/A
- Effective Date
- July 29, 2025
- Increase Basis
- 12.5% above Low Income Cut-Off (LICO)
- Declaration Threshold
- CAN$10,000
- 1 Person Requirement
- $3,815
- 2 People Requirement
- $4,750
- 3 People Requirement
- $5,840