The Canadian Government has raised the minimum financial threshold for immigrants applying through the Express Entry system. The update from Immigration, Refugees and Citizenship Canada (IRCC) comes shortly after the United States introduced a new policy restricting most Nigerian non-immigrant visa holders to single-entry, three-month visas.
Under the new Canadian guidelines, effective July 7, 2025, single applicants must now show access to at least CAD \$15,263 (approximately ₦17 million), up from the previous CAD \$14,690. For a two-person family, the required minimum has been increased to CAD \$19,001 (about ₦21.2 million).
These funds are meant to demonstrate that immigrants have enough money to support themselves and their families after arriving in Canada. Applicants are required to submit official letters from financial institutions detailing the funds, which must be printed on the bank’s letterhead. For couples, funds in joint accounts are acceptable.
Express Entry candidates must update their profiles with the new proof of funds by July 28, 2025, to remain eligible in the pool. The update does not affect the original submission date of their profiles, so it will not impact their ranking in tie-breaker situations.
Source: https://guardian.ng/
