Ready to move to Canada? There are some significant changes on the horizon for individuals planning to settle in Atlantic Canada. The financial bar has officially been raised if you are planning your application through the Atlantic Immigration Program (AIP). The AIP Canada new proof of funds 2025 update will include new minimum settlement amounts, and it is important to know what is changing so you don’t apply without understanding what they are.
Let’s break it all down in simple words.
Why Is This Change Happening?
The Immigration, Refugees and Citizenship Canada (IRCC) reviews the financial requirements for settlement annually laid out by Canada’s Low Income Cut-Off (LICO) – to essentially establish a guideline that provides assurance to newcomers that they will not find themselves in a financial bind after landing.
The new amounts are effective from July 29, 2025.
What’s the New Requirement?
The updated settlement fund amounts now depend on your family size.
Here’s a quick look:
- 1 person: $3,815
- 2 people: $4,750
- 3 people: $5,840
- 4 people: $7,090
- 5 people: $8,042
- 6 people: $9,070
- 7 people: $10,098
- Each additional member: +$1,028
You must count yourself, your spouse or common-law partner, and all dependent children — even if they are Canadian citizens or won’t be moving with you.
What Kind of Funds Are Accepted?
IRCC has very strict guidelines, and you need a certain amount of funds to support yourself in order to be successful. You cannot claim that you have the funds – you have to show the funds!
Proper proof of funds includes:
- Official bank document (on letterhead)
- Account numbers, balances, and date of account opening
- 6-month average balance
- Amounts owed (credit cards, debts)
They have to be liquid funds – you cannot have funds locked away in an investment or a property. The funds have to be available at the time of your application and at the time of visa issuance.
If the funds are in your spouse’s account, you must prove shared access to the account (a joint account is the easiest).
What About Bringing Money to Canada?
Once you become an approved immigrant, you may bring any amount of money with you, but there are some important guidelines (regulations).
The first rule is that you must declare any amount over CAN$10,000 at customs. If you fail to report anything over that amount, you run the risk of not being able to prove where the money originated if you are stopped at customs – this could result in significant fines or worst-case situation, losing your funds altogether.
Also, the only acceptable forms of money that you can bring with you into Canada are as follows:
- Cash
- Banker’s drafts
- Money orders
- Stocks or bonds
- Traveller’s cheques
These regulations are in place to allow you to survive the initial cost of living when you arrive – rent, food, transport, and personal expenses until you are settled.
Atlantic Canada Immigration Fund Changes: What It Means for You
This new legislation impacts every economic immigration program under the AIP.
If you are already working here in Canada on a valid work permit, you are unaffected by these new rules, so don’t worry. However, if you are applying from outside of Canada, be sure to consider everything concerning the Atlantic Canada immigration fund changes.
Final Thoughts: Are You Financially Ready?
The minimum settlement funds for Canada AIP are higher than before, but the good news is that clarity around the finances is also increasing. Planning your family finances should be easier now that you understand the numbers, making your application process more confident and your settlement process more seamless.
Don’t risk a refused application over a bank balance.
Do you need help?
That’s where we can help you, Abhinav Immigration Services. With years of expertise helping people immigrate to Canada, we help applicants understand the financial requirements, prepare the documentation, and stay current with the Immigration, Refugees and Citizenship Canada (IRCC) latest changes.
Whether you are applying for immigration to Canada with family or alone, we help you take that first step, right – step by step.
Canada is calling, just be sure your funds are ready to answer!
