Canada updates Express Entry proof of funds for 2021 | VO Visas

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Canada updates Express Entry proof of funds for 2021  |  VO Visas 

The announcement suggests an all-program Express Entry draw is imminent for Federal Skilled Worker Program and Federal Skilled Trades Program candidates.

Canada has updated the amount of funds Express Entry candidates need to immigrate.

The changes apply to Express Entry candidates in the Federal Skilled Worker Program (FSWP) and the Federal Skilled Trades Program (FSTP). It does not apply to candidates from these programs who have a valid job offer in Canada.

If your proof of funds documents show less than these amounts, you will have to update your Express Entry profile no later than July 15, 2021. Updating your profile does not change the date and time Immigration, Refugees and Citizenship Canada (IRCC) received your profile. So, you will keep your rank if you are in a tie-breaker situation.

The announcement suggests IRCC is planning to hold an Express Entry draw for FSWP and FSTP candidates for the first time in 2021. As part of a pandemic measure, Canada has only been holding draws for Canadian Experience Class (CEC) and Provincial Nominee Program (PNP) candidates. These programs have high numbers of candidates in Canada who are not necessarily required to provide proof of funds.

Before the pandemic, IRCC would announce in January the new proof of funds for the year. In 2021, IRCC has made the update in July.

The delay could be an indicator that the department had no intension in January of holding all-program Express Entry draws at that time. Now mid-way through the year, the situation has changed. Public health measures are starting to roll back as more Canadians are getting vaccinated.

RCC originally stopped holding all-program draws after Canada first went into lockdown in March 2020. All-program Express Entry draws resumed in July, 2020. There was also a FSTP draw in August. Based on this precedent, and the updated proof-of-funds, this year is not ending without an all-program Express Entry draw.

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