{"id":11091,"date":"2025-08-21T08:00:00","date_gmt":"2025-08-21T12:00:00","guid":{"rendered":"https:\/\/onepacificimmigration.com\/?p=11091"},"modified":"2025-08-20T15:38:03","modified_gmt":"2025-08-20T19:38:03","slug":"new-proof-of-fundsstudy-permit-express-entry","status":"publish","type":"post","link":"https:\/\/onepacificimmigration.com\/en-CA\/2025\/08\/21\/new-proof-of-fundsstudy-permit-express-entry\/","title":{"rendered":"New Proof of Funds(Study Permit & Express Entry)"},"content":{"rendered":"\n

Hello World! In today\u2019s blog, we will introduce the major increase to the required proof of funds for Study Permit and Express Entry applications announced by Immigration, Refugees and Citizenship Canada (IRCC) in July 2025.<\/p>\n\n\n\n

Study Permit \u2013 Proof of Financial Support<\/strong><\/h2>\n\n\n\n

On July 2, 2025, IRCC announced that the proof of financial support required when applying for a Study Permit will be increased by approximately 10.95%. This change applies to applicants submitting Study Permit applications on or after September 1, 2025, in all provinces and territories except Quebec.<\/mark><\/p>\n\n\n\n

New Proof of Financial Support Requirement<\/strong>
Applicants must prove they have enough funds to cover tuition fees, travel costs, and living expenses for one year. The required living expenses depend on the number of accompanying family members<\/span>.<\/p>\n\n\n\n

Number of Family Members
(Including Applicant)<\/strong><\/th>		Required Annual Funds
(Excluding Tuition\/From Sept 1, 2025)<\/strong><\/th>		Current Required Annual Funds
(Excluding Tuition)<\/strong><\/th><\/tr><\/thead>
1<\/td>$22,895<\/strong><\/td>$20,635<\/td><\/tr>
2<\/td>$28,502<\/strong><\/td>$25,690<\/td><\/tr>
3<\/td>$35,040<\/strong><\/td>$31,583<\/td><\/tr>
4<\/td>$42,543<\/strong><\/td>$38,346<\/td><\/tr>
5<\/td>$48,252<\/strong><\/td>$43,492<\/td><\/tr>
6<\/td>$54,420<\/strong><\/td>$49,051<\/td><\/tr>
7<\/td>$60,589<\/strong><\/td>$54,611<\/td><\/tr>
If more than 7 people, each additional family member<\/td>+$6,170<\/strong><\/td>+$5,559<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n

What is LICO?<\/strong>
These amounts are based on the LICO (Low Income Cut-Off)<\/strong> published annually by Statistics Canada. LICO is the minimum income level a household needs to cover basic living expenses in Canada, and households earning below this level are considered to be in financial hardship. LICO is reviewed each year to reflect changes in living costs and inflation.<\/p>\n\n\n\n

For more details including acceptable documents for proof of financial support, please visit link below for the IRCC\u2019s official announcement.
https:\/\/www.canada.ca\/en\/immigration-refugees-citizenship\/services\/study-canada\/study-permit\/get-documents\/financial-support.html<\/a><\/p>\n\n\n\n

Express Entry \u2013 Proof of Funds<\/strong><\/h2>\n\n\n\n

On July 7, 2025, IRCC announced an increase to the minimum proof of funds required for permanent residence applications submitted via Express Entry. Applicants must have updated the proof of funds listed in their Express Entry profile by July 28, 2025.<\/mark><\/p>\n\n\n\n

What is Express Entry?<\/strong>
Express Entry is an immigration application management system introduced by IRCC in 2015 for skilled workers. Applicants create an online profile, which is scored using the Comprehensive Ranking System (CRS) and those with the highest scores receive Invitation to Apply (ITA) for permanent residence.<\/p>\n\n\n\n

New Proof of Funds Requirement<\/strong>
The table below shows the new minimum required funds based on family size. These amounts are updated annually based on 50% of the LICO.<\/p>\n\n\n\n

Number of Family Members
(Including Applicant)<\/strong><\/th>		Required Annual Funds
(After July 7, 2025)<\/strong><\/th>		Previous Required Annual Funds
(Before July 7, 2025)<\/strong><\/th><\/tr><\/thead>
1<\/td>$15,263<\/strong><\/td>$14,690<\/td><\/tr>
2<\/td>$19,001<\/strong><\/td>$18,288<\/td><\/tr>
3<\/td>$23,360<\/strong><\/td>$22,483<\/td><\/tr>
4<\/td>$28,362<\/strong><\/td>$27,297<\/td><\/tr>
5<\/td>$32,168<\/strong><\/td>$30,690<\/td><\/tr>
6<\/td>$36,280<\/strong><\/td>$34,917<\/td><\/tr>
7<\/td>$40,392<\/strong><\/td>$38,875<\/td><\/tr>
If more than 7 people, each additional family member<\/td>+$4,112<\/strong><\/td>+$3,958<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n

Who Needs Proof of Funds?<\/strong>
These changes apply to two programs under the Express Entry.<\/p>\n\n\n\n