The Canadian Government has increased the minimum financial requirement for immigrants applying through the Express Entry system. It is coming about the same time the United States government announced that most Nigerians applying for non-immigrant visas will now only get single-entry three-month visas.
Foreign nationals hoping to migrate to Canada through the Express Entry system will now be required to show a higher minimum amount of funds to qualify, following a recent update by Immigration, Refugees and Citizenship Canada (IRCC).
According to the new guidelines, effective July 7, 2025, a single applicant must now demonstrate access to at least CAD $15,263 (about N17 million), up from the previous requirement of CAD $14,690. For a family of two, the minimum required funds rise to CAD $19,001 (N21.2m).
The funds are intended to show that applicants can support themselves—and their families—after arrival in Canada. Applicants must provide official letters from financial institutions where they hold accounts, printed on the bank’s letterhead. If applying with a spouse, funds held in joint accounts can be combined.
To remain eligible in the Express Entry pool, candidates must update their proof of funds in their profile no later than July 28, 2025. However, this update does not change the date and time the profile was originally submitted, meaning candidates won’t lose their place in tie-breaker scenarios.
