Settlement Funds Calculator Canada 2026
Check if you meet Canada's proof of funds requirements for Express Entry, FSW, FST, and AIP. LICO-based thresholds by family size.
Key Takeaways
- Settlement funds are mandatory for FSW, FST, AIP, and RNIP applicants. CEC applicants with a valid Canadian job offer are exempt from the requirement.
- The required amount is based on LICO and scales with family size — a single applicant needs significantly less than a family of seven or more.
- Funds must be readily transferable, available, and unencumbered. Real estate equity, vehicle value, and retirement savings locked in pension plans do not count.
- You must demonstrate that funds have been available for at least six consecutive months, typically through bank statements or investment account records.
- IRCC may verify your funds at any point during processing, not just at the time of application submission.
Settlement Funds Calculator for Canadian Immigration
Canada's economic immigration programs require applicants to demonstrate they have enough money to support themselves and their family members upon arrival. Known as "proof of funds," this requirement is based on the Low Income Cut-Off (LICO) published annually by Statistics Canada and adopted by Immigration, Refugees and Citizenship Canada (IRCC) as the minimum settlement funds threshold.
The settlement funds requirement applies to Express Entry applicants under the Federal Skilled Worker (FSW) and Federal Skilled Trades (FST) programs, the Atlantic Immigration Program (AIP), and the Rural and Northern Immigration Pilot (RNIP). Understanding whether your savings meet the threshold — and planning ahead if they fall short — is a critical step in your immigration application.
How It Works
1. Enter your total family size, including yourself, your spouse or common-law partner (whether accompanying or not), and all dependent children.
2. Enter your available settlement funds in Canadian dollars — this includes bank account balances, guaranteed investment certificates (GICs), and other liquid, transferable assets.
3. The calculator looks up the current IRCC-published LICO threshold for your family size and compares it to your declared funds.
4. Results show whether you meet the requirement, the exact threshold for your family size, and any surplus or shortfall amount. If you fall short, it shows how much additional savings you need.
5. The calculator also flags whether your program category requires proof of funds at all — Canadian Experience Class (CEC) applicants with a valid job offer are exempt.
What Counts as Settlement Funds
IRCC accepts funds that are liquid, transferable, and available for your use. This includes savings and chequing account balances, term deposits or Guaranteed Investment Certificates (GICs) that can be cashed, and transferable investments such as stocks or bonds. Funds must be in your name or in a joint account with your spouse or common-law partner.
Assets that do not qualify include real estate equity, vehicle value, personal property, retirement funds locked in employer pension plans, and any funds that are borrowed or held in trust. Cryptocurrency holdings are generally not accepted unless they have been converted to a recognized currency in a regulated financial institution. If your funds are held in a foreign currency, they will be converted to Canadian dollars at the prevailing exchange rate for assessment purposes.
The Six-Month Proof Requirement
IRCC requires that your settlement funds have been continuously available for at least six months prior to receiving your Invitation to Apply (ITA) and at the time your application is assessed. This means you cannot borrow a large sum immediately before applying and then return it — the six-month history must show consistent availability.
Bank statements, investment account statements, and official letters from financial institutions are the standard documents used to prove fund availability. Statements should show your name, account number, balances over the six-month period, and the financial institution's details. If funds are in a joint account with a non-accompanying spouse, provide a letter confirming your access to the full balance.
LICO Thresholds and Annual Updates
The Low Income Cut-Off (LICO) is a statistical measure published by Statistics Canada that represents the income threshold below which a family is likely to spend a disproportionate share of its income on basic necessities. IRCC uses the LICO for communities of 500,000 or more as the settlement funds baseline.
IRCC updates the required amounts annually, typically in the spring. The thresholds increase incrementally each year with inflation. For current figures, always verify against the IRCC website or use this calculator, which is updated when new thresholds are published. The required amount increases with each additional family member, so accurately counting your family size — including non-accompanying dependents — is essential.
Program-Specific Exemptions
Not all immigration programs require proof of settlement funds. Canadian Experience Class (CEC) applicants who have a valid job offer in Canada are exempt. Provincial Nominee Program (PNP) applicants may also be exempt if their province does not require proof of funds as part of the nomination. Quebec has its own financial requirements under the Quebec Skilled Worker Program, which differ from federal LICO thresholds.
For the Atlantic Immigration Program (AIP), the settlement funds requirement applies but uses the same LICO-based thresholds as Express Entry. Employers providing a job offer under AIP do not exempt the applicant from the funds requirement — only CEC applicants with a valid job offer receive that exemption. Always check the specific requirements for your program stream.
Key Facts
- IRCC updates settlement fund thresholds annually based on LICO data from Statistics Canada. Always verify the current year's figures.
- For a single applicant, the required amount is approximately $14,690 (2025 figures). A family of four requires approximately $27,514.
- Funds must be readily transferable and available in a recognized financial institution — real estate equity and locked retirement accounts do not count.
- Joint bank accounts with a non-accompanying spouse or common-law partner can be included, with a letter confirming access.
- The six-month availability requirement means you must show consistent fund balances, not a one-time deposit.
FAQ
How much settlement funds do I need for Canada immigration?
The required amount depends on your family size and is based on LICO thresholds published annually by IRCC. As of 2025, a single applicant needs approximately $14,690, a family of two needs approximately $18,288, a family of three needs approximately $22,483, and a family of four needs approximately $27,514. The amount increases for each additional family member. Use this calculator with your specific family size to see the exact current threshold.
Do I need settlement funds for Canadian Experience Class?
CEC applicants with a valid job offer in Canada are exempt from the settlement funds requirement. However, if you do not have a job offer, you must meet the same LICO-based thresholds as FSW applicants. The job offer must be genuine, full-time, and in a skilled occupation (NOC TEER 0, 1, 2, or 3).
Can I use a GIC or term deposit as proof of settlement funds?
Yes, Guaranteed Investment Certificates (GICs) and term deposits are accepted as proof of settlement funds, provided they can be cashed or redeemed. The key requirement is that the funds must be liquid and transferable. Locked-in investments that cannot be accessed before a maturity date far in the future may not qualify. Provide the institution's statement showing the GIC details and your ability to redeem it.
Do I count non-accompanying family members in my family size?
Yes. Your family size for settlement funds purposes includes yourself, your spouse or common-law partner (whether or not they are accompanying you to Canada), and all dependent children (whether or not they are accompanying you). Even if a family member is not coming to Canada, they are counted when determining your required settlement funds threshold.
What happens if my funds drop below the threshold during processing?
IRCC may request updated proof of funds at any point during processing, not just at the time of application. If your funds have dropped below the required threshold when reassessed, your application could be refused. Maintain your settlement funds at or above the threshold throughout the entire processing period until you receive your Confirmation of Permanent Residence (COPR).
Updated April 2026. Information on this page is provided for educational purposes only. Tax rules, rates, and government programs may change — verify details with the CRA or a qualified financial advisor.