Canada updates Express Entry proof of funds for 2021

The announcement suggests an all-program Express Entry draw is coming soon for Federal Skilled Worker Program and Federal Skilled Trades Program candidates for the first time in 2021.

Canada has updated the funds required for Express Entry candidates who need to immigrate.

The latest changes in funds requirements apply to Express Entry candidates in the Federal Skilled Worker Program (FSWP) and the Federal Skilled Trades Program (FSTP). These funds changes do not apply to those who have a valid job offer.

The updated funds requirements are as follows:

If your proof of funds documents show less than these amounts, you will have to update your Express Entry profile no later than July 15, 2021. Updating your profile does not change the date and time Immigration, Refugees and Citizenship Canada (IRCC) received your profile. So, you will keep your rank if you are in a tie-breaker situation.

This latest change suggests IRCC is planning to hold an Express Entry draw for FSWP and FSTP candidates for the first time in 2021. As part of a pandemic measure, Canada has only been holding draws for Canadian Experience Class (CEC) and Provincial Nominee Program (PNP) candidates. These programs have high numbers of candidates in Canada who are not necessarily required to provide proof of funds.

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