Proof of funds requirement increased

[Abul Aziz]

IRCC has just increased their POF requirement. Please see the below information.


Proof of funds – Skilled immigrants (Express Entry)

Number of
Family Members Funds Required
(in Canadian dollars)
1 $12,300
2 $15,312
3 $18,825
4 $22,856
5 $25,923
6 $29,236
7 or more $32,550

http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

 

[raviG]

what was the earlier requirement ?

 

[kryt0n]

+1 for keeping on top of this. Last year it increased around march.

I suspect anyone who submitted BEFORE today will be fine with the old sums so don't panic.

People submitting AFTER today please make sure you meet the cut off.

 

[Abul Aziz]

IRCC says:

Note: We update these numbers every year based on 50 per cent of the low income cut-off totals. You may want to double-check that you still have enough money, based on the new cut-off, to support your family if you immigrate to Canada. This change is small but there is a chance it could affect your eligibility.

Below was the old requirement:

Number of Funds Required
Family Members (in Canadian dollars)
1 $12,164
2 $15,143
3 $18,617
4 $22,603
5 $25,636
6 $28,913
7 or more $32,191

 

[xpressentry]

Thanks for the update. This is also a reminder for everyone who is in the pool to update their profile in the section where it mentioned how much money will you be bringing to Canada in case you answered the minimum according to the old amount.

 

[kryt0n]

Thanks for the update. This is also a reminder for everyone who is in the pool to update their profile in the section where it mentioned how much money will you be bringing to Canada in case you answered the minimum according to the old amount.

Very good point! Just updated mine from 15,200 to 15,500. I am 99% sure they would have assessed my funds based on the day I got the ITA but, you never know!!

 

[DelPiero07]

+1 for keeping on top of this. Last year it increased around march.

I suspect anyone who submitted BEFORE today will be fine with the old sums so don't panic.

People submitting AFTER today please make sure you meet the cut off.

That's what she said.

 

[patricia.hple]

Question: if in my online expresss of interest, i say that i have $20,000 for a single applicant, but at the time of actual application, i can only provide fund of $15,000, will i be penalized for this? Is it advisable to declare in the online EOI a number that is slightly higher than the minimum requirement?

 

[kryt0n]

I'm expecting a high number of people becoming 'ineligible' beacuse of this change over night.

 

[bestofluck]

Very good point! Just updated mine from 15,200 to 15,500. I am 99% sure they would have assessed my funds based on the day I got the ITA but, you never know!!

Good you updated. For funds and exchange rate they mostly consider eAPR date

 

[kryt0n]

Good you updated. For funds and exchange rate they mostly consider eAPR date

In that case, I may end up owing my PR to xpressentry!

 

[patricia.hple]

Question: if in my online expresss of interest, i say that i have $20,000 for a single applicant, but at the time of actual application, i can only provide fund of $15,000, will i be penalized for this? Is it advisable to declare in the online EOI a number that is slightly higher than the minimum requirement?

Anyone pls help?

 

[DelPiero07]

Anyone pls help?

No, it's fine as long as you provide an amount equal or higher to the minimum required funds.

 

[jisanmahfuz]

Hi Good People,

I got my ITA yesterday , As I have a skilled job, do I need to show funds if I have a valid job and income ? as it says in CIC website" Note: You do not have to meet the funds requirement if you were invited to apply under the Canadian Experience Class."
Can you please let me know if i have to show any fund?

Thanks
Muhammed

 

[hamgha]

Hi Good People,

I got my ITA yesterday , As I have a skilled job, do I need to show funds if I have a valid job and income ? as it says in CIC website" Note: You do not have to meet the funds requirement if you were invited to apply under the Canadian Experience Class."
Can you please let me know if i have to show any fund?

Thanks
Muhammed

Do you fall under CEC?