Canada Raises Minimum Fund PR Applicants New Cut-Offs In Effect From July 29, 2025 CIC News

Canada has updated its settlement fund requirements for economic immigration applicants, raising the minimum financial bar effective July 29, 2025. This move by Immigration, Refugees and Citizenship Canada (IRCC) could impact thousands planning to apply for Permanent Residency under economic pathways.

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Transcript

00:01Canada raises minimum fund bar for PR applicants.

00:05New cut-offs in effect from the 29th of July, 2025.

00:13In this video, we unpack Canada's updated minimum fund requirements for permanent residency,

00:18including who must show proof, what documents are accepted,

00:22and the rules on declaring funds when bringing them to Canada,

00:26and watch till the end for crucial insights on meeting financial thresholds

00:31and avoiding mistakes that could derail your PR application.

00:36Canada has updated its settlement fund requirements for economic immigration applicants,

00:41raising the minimum financial bar effective July 29, 2025.

00:47This move by Immigration and Immigration,

00:52Canada has updated its settlement fund requirements for economic immigration applicants,

00:58raising the minimum financial bar effective July 29, 2025.

01:02This move by Immigration, Refugees and Citizenship Canada, IRCC,

01:09could impact thousands planning to apply for permanent residency under economic pathways.

01:17The full version of this update is available on our website.

01:20Link mentioned in the description below.

01:27Let's begin with updated minimum fund requirements for PR.

01:31The new settlement fund thresholds now stand at 12.5% above the low income cut-off, LICO,

01:40and vary by family size.

01:42For example, a single applicant must now show $3,815,

01:47while a family of four must prove $7,090.

01:51These figures apply unless you are already working in Canada on a valid work permit.

01:56Next, we explore who needs to show proof of funds.

02:05You must count yourself, your spouse or partner, and all dependents,

02:11regardless of whether they accompany you or are already Canadian citizens or PR holders.

02:15Moving on to accepted proof of funds documents.

02:24IRCC only accepts official bank letters, listing account numbers, opening dates, current balances, and average six-month balances.

02:34Funds must be liquid and accessible.

02:37Then we look at bringing funds to Canada, declaration rules.

02:43Newcomers must declare any amount over 10,000 Canadian dollars at customs.

02:50Acceptable forms include cash, stocks, money orders, and drafts.

02:55Unreported funds may result in penalties.

03:00Finally, we wrap up with the conclusion.

03:04Planning your finances according to IRCC's updated requirements is crucial.

03:10Before applying, check your fund status and research the cost of living in your target province to ensure a smooth transition.

03:16That's it from us. Your turn now.

03:25Drop a comment, smash that like, and hit subscribe if you're vibing with the content.

03:29Catch you in the next one.

Canada Raises Minimum Fund PR Applicants New Cut-Offs In Effect From July 29, 2025 CIC News

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