If you are planning to move from the UK to Canada permanently, one important question is how much money you need to show for your Canadian permanent residence application. This amount is known as proof of funds or settlement funds.
The Immigration, Refugees and Citizenship Canada (IRCC) requires certain Express Entry applicants to demonstrate that they have enough accessible money to support themselves and their family after arriving in Canada.
The amount depends on your family size and the immigration programme you apply under. If you are living in the UK, you can hold your savings in a UK bank account, but you must provide suitable financial evidence and show that the money is available to you.
This guide explains Canada proof of funds requirements in 2026, the official amounts in Canadian dollars, approximate values in British pounds, bank statement requirements and the situations where proof of funds may not be required.
How Much Proof of Funds Do You Need for Canada PR in 2026?
The amount of money required for Canada Express Entry depends on the number of family members included in your family size.
As of 30 October 2026, the IRCC proof-of-funds page displays the settlement fund amounts updated on 7 July 2025. Although IRCC states that it updates the amounts annually, the official page is still showing this published table.
The following amounts are in Canadian dollars (CAD). The GBP figures are approximate conversions using an indicative rate of CAD 1.87 for £1 on 30 October 2026.
| Family size | Required funds (CAD) | Approximate amount (GBP) |
|---|---|---|
| 1 person | CAD 15,263 | £8,160 |
| 2 people | CAD 19,001 | £10,160 |
| 3 people | CAD 23,360 | £12,490 |
| 4 people | CAD 28,362 | £15,170 |
| 5 people | CAD 32,168 | £17,200 |
| 6 people | CAD 36,280 | £19,400 |
| 7 people | CAD 40,392 | £21,600 |
| Each additional person | CAD 4,112 | £2,200 |
The Canadian dollar amount is the official IRCC requirement. The GBP conversion is only a guide because exchange rates change and banks or money transfer providers may apply their own rates and charges.
For your application, make sure your available funds meet the required Canadian dollar amount. It is sensible to maintain a reasonable buffer rather than relying on an exact exchange-rate conversion.
Canada Proof of Funds for a Family of 4
If you are applying for Canadian permanent residence with your partner and two dependent children, IRCC generally counts your family as four people.
The published settlement fund requirement for a family of four is:
- Required amount: CAD 28,362
- Approximate UK equivalent: £15,170
- Programme relevance: Federal Skilled Worker Program and Federal Skilled Trades Program under Express Entry, where proof of funds is required.
For example, if you, your partner and two dependent children are included in the family size, you should plan around the CAD 28,362 requirement.
It is important to remember that IRCC counts your spouse or common-law partner and dependent children even if they are not travelling to Canada with you. You cannot reduce the family size simply because a family member plans to remain in the UK.
How Much Proof of Funds Do You Need for One Person?
If you are applying alone and have no spouse, common-law partner or dependent children to include in your family size, the published minimum is CAD 15,263.
At an indicative exchange rate of CAD 1.87 per pound, this is approximately £8,160.
You should be able to demonstrate that the money is legally available to you. A property valuation, credit limit or personal loan does not normally qualify as settlement funds.
Do You Need Proof of Funds for Every Canada PR Programme?
No. Proof of funds is not required in every Express Entry situation.
IRCC requires settlement funds for applicants meeting the minimum requirements of:
- Federal Skilled Worker Program (FSWP)
- Federal Skilled Trades Program (FSTP)
However, there are important exemptions.
1. Federal Skilled Worker Program
If you apply through the Federal Skilled Worker Program, you generally need to demonstrate that you have sufficient settlement funds for yourself and your family.
The required amount depends on your family size. You must provide acceptable financial documents when you are invited to apply for permanent residence.
2. Federal Skilled Trades Program
Applicants under the Federal Skilled Trades Program generally need to meet the settlement fund requirement too.
The amount is based on the number of family members, not simply the number of people travelling to Canada.
3. Canadian Experience Class
If you are applying under the Canadian Experience Class (CEC), IRCC does not require proof of settlement funds.
This is an important distinction for people who have already gained eligible skilled work experience in Canada.
However, if your Express Entry profile makes you eligible for more than one programme, keep your financial information accurate. IRCC may invite you under a different programme from the one you expected.
4. Applicants with a valid job offer and Canadian work authorisation
You may also be exempt from showing settlement funds if you are authorised to work in Canada and have a valid job offer from an employer in Canada, even if you apply under the Federal Skilled Worker or Federal Skilled Trades Program.
Having a job offer alone is not enough for this exemption. You must meet both conditions: authorisation to work in Canada and a valid job offer.
Can You Use a UK Bank Account for Canada Proof of Funds?
Yes. You do not generally need to transfer your savings to a Canadian bank account before applying for Express Entry.
If you live in the UK, you can use eligible funds held with a UK bank or financial institution. Your financial institution must provide the official evidence required by IRCC.
Your money should be:
- In an account that you own or can legally access.
- Available for your use when you arrive in Canada.
- Free from loans or borrowing used to create the required balance.
- Sufficient to meet the applicable settlement fund amount.
- Supported by official financial documents.
If your spouse is accompanying you, you may be able to count money held in a joint account. Funds in your spouse’s individual account may also be accepted if you demonstrate that you have access to them.
Do not assume that simply showing a large balance in a banking app will be enough. IRCC asks for specific information from financial institutions.
What Bank Documents Does IRCC Require?
IRCC asks applicants who need proof of funds to obtain official letters from the banks or financial institutions where they hold accounts.
The letter should be printed on the institution’s letterhead and include:
- The bank’s name and contact details, including address, telephone number and email.
- Your full name.
- Your outstanding debts, including loans and credit card debts.
- Account numbers for your current accounts.
- The date each account was opened.
- The current balance of each account.
- The average balance over the previous six months.
You should contact your UK bank early to confirm whether it can provide all the information IRCC requests.
If you have savings spread across several banks, you may need letters from each relevant financial institution.
Do You Need Six Months of Bank Statements?
IRCC specifically asks for the average balance over the past six months in its bank-letter requirements.
This helps officers understand your financial history rather than looking only at the balance on the day the letter is issued.
A sudden large deposit may lead to questions about the source of the money. Keep supporting evidence for legitimate deposits, such as savings transfers, property sale proceeds, inheritance or other documented sources.
Do not borrow money temporarily or transfer funds into an account simply to create the appearance of meeting the requirement.
What Counts as Acceptable Settlement Funds?
Your settlement funds must be money you can legally access and use to support your family in Canada.
Depending on the financial institution and the evidence provided, eligible banking and investment accounts may be considered.
Examples include:
- Personal savings accounts
- Current or chequing accounts
- Joint accounts with an accompanying spouse
- Eligible investment accounts that can be accessed
- Other funds supported by acceptable financial institution documents
However, IRCC specifically states that you cannot use equity in real property as proof of settlement funds. You also cannot borrow the required money from another person.
A credit card limit, overdraft facility or unsecured borrowing should not be treated as your settlement savings.
If you hold investments rather than cash savings, check whether the money can be accessed and whether your financial institution can provide the required evidence.
Can You Use Your Partner’s Savings?
Yes, in certain circumstances.
If your spouse or common-law partner is accompanying you to Canada, you can generally count funds held in a joint account.
You may also be able to use money held in an account under your spouse’s name only. However, you must demonstrate that you have access to those funds.
For example, if you and your partner are applying together from the UK and your partner holds the majority of your household savings, you should prepare documents showing your relationship and your legal access to the money.
Make sure the funds remain available throughout the application process.
Do You Need to Keep the Money in Your Bank Account Until PR Approval?
Yes. IRCC states that your settlement funds must be available both when you apply and when the permanent resident visa is issued if your application is approved.
This means you should not treat the proof-of-funds requirement as a one-time bank balance check.
Avoid spending the money on a major purchase, transferring it into an inaccessible investment or using it to repay other expenses if doing so would take your available funds below the required amount.
You should also update your Express Entry profile if your financial circumstances change and the declared amount is no longer accurate.
How to Get Proof of Funds from a UK Bank
If you are applying from the UK, follow these steps to prepare your financial evidence.
Step 1: Calculate your family size
Count yourself, your spouse or common-law partner and all dependent children included under IRCC’s definition. Include eligible family members even if they will not travel with you.
Step 2: Check the latest IRCC amount
Use the official IRCC proof-of-funds page to confirm the minimum amount for your family size. Do not rely only on an old article or an online calculator.
Step 3: Review your savings
Check your current account and savings balances. Make sure the money is legally available and is not borrowed.
Step 4: Contact your bank
Ask your bank for an official letter containing the account details, current balance, average six-month balance, account opening dates and outstanding debts.
Step 5: Prepare supporting evidence
Keep bank statements and documents explaining any significant deposits or transfers. If you are using a joint account or your partner’s savings, prepare evidence showing your access to the funds.
Step 6: Keep the funds available
Maintain the required amount while your application is being processed. The funds must remain available until the permanent resident visa is issued.
What Happens If You Do Not Have Enough Proof of Funds?
If you are applying under the Federal Skilled Worker or Federal Skilled Trades Program and cannot demonstrate the required funds, you may not meet the programme’s minimum requirements.
This can affect your eligibility for Express Entry and your permanent residence application.
If your savings are below the required amount, consider your financial position before submitting an application. You should not use borrowed money or inaccurate documents to make your balance appear higher.
Depending on your circumstances, you may want to review whether another immigration programme is suitable. For example, an eligible Canadian Experience Class applicant does not need to meet the Express Entry settlement fund requirement.
A Provincial Nominee Program pathway may have separate financial conditions, so check the exact stream rather than assuming every PNP applicant is exempt or subject to the same amount.
Common Mistakes to Avoid When Showing Canada Proof of Funds
Applicants from the UK should pay attention to these common issues:
1. Counting only the people travelling to Canada
IRCC’s family-size calculation includes eligible dependants even if they are not accompanying the applicant.
2. Using an outdated fund amount
Always check the current IRCC table. The official page currently displays amounts updated on 7 July 2025.
3. Showing only the latest bank balance
IRCC asks for the average balance over the previous six months as part of the bank letter.
4. Using borrowed money
Settlement funds must be legally accessible and cannot be borrowed from another person.
5. Forgetting outstanding debts
Your bank letter must include outstanding debts, such as loans and credit card debts.
6. Assuming every Express Entry applicant needs proof of funds
CEC applicants and certain applicants with Canadian work authorisation and a valid job offer are exempt.
7. Confusing visitor visa funds with PR settlement funds
The financial requirements for a visitor visa, study permit and Express Entry permanent residence are not interchangeable.
How GIEC Global Can Help with Canada PR from the UK
Preparing for Canada permanent residence involves more than checking your savings. You also need to understand the immigration programme, eligibility requirements, work experience, language test, education assessment and supporting documents.
GIEC Global can help you understand the Express Entry process, review your circumstances and identify the documents you may need to prepare.
If you are planning to move to Canada from the UK, it is useful to review your family size, available savings and intended immigration programme before proceeding.
Planning your Canada PR application from the UK?
Speak with GIEC Global about your immigration options and application preparation.
Conclusion
The amount of proof of funds required for Canada PR depends on your family size and the Express Entry programme you apply under.
For applicants who need to demonstrate settlement funds, the published IRCC minimum ranges from CAD 15,263 for one person to CAD 40,392 for a family of seven, with CAD 4,112 for each additional family member.
For UK applicants, this is approximately £8,160 for one person and £15,170 for a family of four at the indicative exchange rate used in this guide.
You can generally use eligible savings held in a UK bank account, provided you supply the required financial evidence and have legal access to the money. Check the latest IRCC table before applying and keep the required funds available until your permanent resident visa is issued.
Frequently asked questions
How much proof of funds do I need for Canada PR from the UK in 2026?
Under the published IRCC table, a single applicant needs CAD 15,263, approximately £8,160 at the indicative exchange rate used in this guide. The amount increases with family size.
What is the Canada proof of funds requirement for one person?
The published minimum for one person is CAD 15,263.
How much proof of funds is required for a family of four in Canada?
A family of four needs CAD 28,362 under the published IRCC settlement fund table, approximately £15,170.
How much money do I need for Canada Express Entry in pounds?
The amount depends on your family size. For one person it is approximately £8,160, while a family of four needs approximately £15,170 using the indicative exchange rate in this article.
What is IRCC proof of funds?
IRCC proof of funds is financial evidence showing that eligible Express Entry applicants have sufficient accessible money to support themselves and their family after arriving in Canada.
Do I need proof of funds for Canada PR?
Applicants under the Federal Skilled Worker and Federal Skilled Trades programmes generally need settlement funds. Canadian Experience Class applicants are exempt, as are certain applicants with Canadian work authorisation and a valid job offer.
Do I need proof of funds for the Canadian Experience Class?
No. IRCC does not require settlement funds from applicants applying under the Canadian Experience Class.
Does Express Entry require proof of funds?
It depends on the programme. Federal Skilled Worker and Federal Skilled Trades applicants generally need proof of funds, while Canadian Experience Class applicants do not.
How much proof of funds do I need for Express Entry?
The published minimum ranges from CAD 15,263 for one person to CAD 40,392 for a family of seven, with CAD 4,112 for each additional family member.
How much is Canada proof of funds for a couple?
Two people need CAD 19,001 under the published IRCC table, approximately £10,160.
How much proof of funds is required for a family of five in Canada?
A family of five needs CAD 32,168, approximately £17,200 using the indicative GBP conversion in this guide.
Can I use my UK bank account for Canada proof of funds?
Yes. You can generally use eligible savings held in a UK bank account if you provide the financial evidence required by IRCC and can legally access the funds.
Can I use my partner's savings for Canada Express Entry?
You may be able to count money held in your partner's account if you demonstrate that you have access to the funds. Joint accounts with an accompanying spouse can also be used.
Do I need six months of bank statements for Canada PR?
IRCC requires the bank letter to show the average balance over the previous six months. Keep supporting statements and evidence of significant deposits available.
Can I borrow money for Canada proof of funds?
No. IRCC requires funds that you legally own or can access. You cannot borrow the required settlement funds from another person.
Can I use property as proof of funds for Canada PR?
No. IRCC does not accept equity in real property as settlement funds.
Do I need to transfer my money to a Canadian bank account?
No. Eligible funds can generally remain in a UK bank account if they meet IRCC's accessibility and documentation requirements.
Can I use a joint bank account for Canada proof of funds?
Yes. If your accompanying spouse is included, funds in a joint account can generally be counted.
What happens if my bank balance is lower than the required amount?
If you need proof of funds and cannot demonstrate the required amount, you may not meet the programme's minimum eligibility requirements.
Do I need to keep my settlement funds until Canada PR approval?
Yes. IRCC requires your funds to be available when you apply and when your permanent resident visa is issued.
Are Canada proof of funds amounts updated every year?
IRCC states that it updates settlement fund amounts annually. Applicants should check the official table before applying because the figures can change.
What is the difference between proof of funds and a bank statement?
Proof of funds is the financial requirement. A bank letter and supporting statements are documents used to demonstrate that you meet it.
Does a Provincial Nominee Program applicant need proof of funds?
It depends on the PNP stream and whether the applicant is applying through Express Entry. Check the specific provincial and federal requirements.
Can I use investments as proof of funds for Canada PR?
Some accessible investment accounts may be considered if supported by suitable financial institution documents. The funds must be legally accessible and meet IRCC requirements.
How can I get proof of funds from a UK bank?
Contact your bank and request an official letter showing your account details, opening dates, current balances, six-month average balances, outstanding debts and bank contact information.
Is CAD 15,263 enough for Canada PR?
It is the published minimum for a family size of one under the relevant Express Entry programmes. Larger families require higher amounts.
Can I apply for Canada PR without savings?
Applicants who need settlement funds must demonstrate the required amount. Certain applicants, including eligible Canadian Experience Class applicants, are exempt.
Is proof of funds required for a Canada visitor visa?
Visitor visa financial evidence is assessed under different requirements and should not be confused with Express Entry settlement funds.
Can I use a credit card limit as proof of funds?
No. A credit card limit is borrowed credit, not accessible settlement savings.
How much should I save before moving to Canada from the UK?
If your Express Entry programme requires proof of funds, start with the official IRCC minimum for your family size and consider additional money for travel, accommodation and initial living costs.
