This tool shows the minimum money you must prove for two purposes. For Express Entry it uses IRCC's settlement funds table on the page "Proof of funds: Express Entry" (table headed "Updated July 7, 2025", page last modified October 16, 2026). For a study permit it uses IRCC's living-expenses tables on the page "Study permit: Get the right documents, Proof of financial support" (last modified August 28, 2026), with the amounts that apply to applications on or after September 1, 2026 and the earlier amounts for applications between January 1, 2025 and August 31, 2026. All pages were opened and checked on October 19, 2026. Amounts are in Canadian dollars and are updated by IRCC each year.
| Item | Result |
|---|
IRCC settlement funds table for Express Entry
From IRCC's "Proof of funds" page, table headed "Updated July 7, 2025" (page last modified October 16, 2026). IRCC says the amounts are updated every year and that the money must be available both when you apply and when the permanent resident visa is issued.
| Number of family members | Funds required (Canadian dollars) |
|---|---|
| 1 | $15,263 |
| 2 | $19,001 |
| 3 | $23,360 |
| 4 | $28,362 |
| 5 | $32,168 |
| 6 | $36,280 |
| 7 | $40,392 |
| Each additional family member beyond 7 | Add $4,112 |
Who needs settlement funds, and who counts
Who must show funds
Applicants under the Federal Skilled Worker Program and the Federal Skilled Trades Program. You do not need to show funds if you are applying under the Canadian Experience Class, or if you are authorized to work in Canada and have a valid job offer; in both cases IRCC still asks you to upload a letter explaining which situation applies.
Who counts in the family size
Yourself, your spouse or common-law partner, your dependent children, and your spouse's or partner's dependent children. Count them even if they are Canadian citizens or permanent residents, and even if they are not coming to Canada with you.
What counts as settlement funds
- The money must be readily available: you must be able to use it legally to pay your family's living costs on arrival, even for family members who are not coming with you.
- You cannot borrow the money from another person, and you cannot use the equity in real property.
- Funds in a joint account with your spouse or common-law partner count when your spouse or partner is coming with you. An account in your spouse's name alone may count if you prove you have access to it.
- Proof is an official letter from each bank or financial institution, on letterhead, with the institution's contact information, your name, your outstanding debts (such as credit card debts and loans) and, for each account, the account number, the date it was opened, the current balance and the average balance for the past 6 months.
- The amount must be met when you apply and again when the visa is issued; if the table changes, IRCC asks you to update your profile.
IRCC living-expenses amounts for a study permit
For a study permit you must prove that, without working in Canada, you can pay your tuition, the living expenses of yourself and the family members who come with you, and transportation to and from Canada. IRCC's chart below gives the living-expenses part for the first year of your program (it excludes tuition and transportation) for all provinces and territories except Quebec.
| Number of family members, including the applicant | Amount required per year, applications on or after September 1, 2026 | Amount required per year, applications between January 1, 2025 and August 31, 2026 |
|---|---|---|
| 1 | $23,448 | $22,895 |
| 2 | $29,192 | $28,502 |
| 3 | $35,888 | $35,040 |
| 4 | $43,572 | $42,543 |
| 5 | $49,419 | $48,252 |
| 6 | $55,736 | $54,420 |
| 7 | $62,054 | $60,589 |
| Each additional family member beyond 7 | Add $6,318 | Add $6,170 |
Quebec
IRCC's page does not give amounts for Quebec. Students in Quebec need a Quebec Acceptance Certificate (CAQ), and IRCC says they must show they can cover the costs set by Quebec's Ministère de l'Immigration, de la Francisation et de l'Intégration. On October 19, 2026 the Government of Quebec's page "Costs of studies" lists these amounts for applications as of January 1, 2026, to cover essential expenses for one year, not including tuition and round-trip transportation. The calculator uses them for Quebec; confirm them on Quebec's page before you rely on them.
| Number of persons | Financial resources for one year (Quebec, Canadian dollars) |
|---|---|
| 1 | $24,617 |
| 2 | $34,814 |
| 3 | $42,638 |
| 4 | $49,234 |
| 5 | $55,045 |
| 6 | $60,299 |
| Each additional person beyond 6 | Add $5,254 |
Documents IRCC accepts for a study permit
IRCC gives examples rather than a complete list, and says you do not need every document but must show you meet all the financial requirements. If your country restricts the export of currency, you must also show you will be allowed to take the funds out.
- Tuition and study costs: a receipt showing you paid the first year of tuition and housing fees (for example from your designated learning institution); a bank student or education loan; a scholarship or proof of a Canadian-funded educational program. If a scholarship covers only tuition, you still need to show funds for living expenses and transportation.
- Employment and support from others: recent pay stubs; a letter from the person supporting you stating their job, their relationship to you, their number of dependants and the amount of support, with a copy of their identification or proof of business registration.
- Banking and other income: proof of a Canadian bank account in your name if you transferred money to Canada; a Canadian guaranteed investment certificate; bank statements for the past 6 months showing the source of the income; pension plan documents; proof of rental income.
Limits of this estimate
Next step
- Express Entry: check which program you appear to meet with the eligibility checker, then estimate your score with the CRS calculator.
- Study permit: read the study permit guide and the application guide.
Official sources
- IRCC: Proof of funds, Express Entry (who needs it, family size, what counts, table updated July 7, 2025)
- IRCC: Study permit, proof of financial support (living-expenses tables and accepted documents)
- IRCC: Study permit, get the right documents
- Government of Quebec: Costs of studies (financial capacity amounts as of January 1, 2026)