Japa: Canada Increases Minimum Proof Of Funds To N17m For Immigrants

The Government of Canada has raised the minimum proof of funds required for immigrants under the Express Entry system, pushing the bar higher for Nigerians and other foreign nationals aiming to “japa” through skilled migration.

According to an update from Immigration, Refugees and Citizenship Canada (IRCC), effective July 7, 2025, single applicants must now demonstrate access to at least CAD $15,263 — approximately ₦17 million — up from the previous benchmark of CAD $14,690. For a two-person family, the minimum requirement has been raised to CAD $19,001, or about ₦21.2 million.

The IRCC explained that the new figures are part of its annual review of settlement fund requirements, which are tied to 50% of Canada’s low-income cut-off figures, as calculated by Statistics Canada. The fund serves as proof that newcomers can financially support themselves and their dependents after arriving in Canada.

Applicants must submit official letters from financial institutions—on the bank’s letterhead—confirming they hold the required funds. Spouses applying together may pool resources in a joint account.

Candidates already in the Express Entry pool must update their profiles with the new financial information by July 28, 2025. However, updating this proof of funds will not affect the original submission date and time of their profile, thereby preserving their rank in any tie-breaking rounds.

Proof of funds is a mandatory requirement for the Federal Skilled Worker and Federal Skilled Trades programs under Express Entry. However, it is waived for those applying through the Canadian Experience Class or for individuals who already have a valid job offer and authorization to work in Canada.

It is important to note that creating an Express Entry profile does not automatically lead to permanent residency. The IRCC conducts invitation rounds roughly every two weeks, using the Comprehensive Ranking System (CRS) to score and select top candidates.