The Atlantic Immigration Program (AIP) is Canada’s employer-driven pathway to permanent residence for skilled workers and international graduates in the Atlantic provinces. As of July 29, 2025, Immigration, Refugees and Citizenship Canada (IRCC) has increased the minimum settlement funds required for applicants. This update may seem modest—140 CAD more for a single applicant—but it's essential to understand how it affects your eligibility and planning.

What’s Changed?

IRCC adjusts settlement fund requirements each year based on the Low-Income Cut-Off (LICO). For 2025, the increase is approximately 3.89%. Here’s how the new amounts compare to 2024:

  • 1 person: 3,815 CAD (previously 3,672 CAD)
  • 2 people: 4,750 CAD (up from 4,572 CAD)
  • 3 people: 5,840 CAD (up from 5,620 CAD)
  • 4 people: 7,090 CAD (up from 6,824 CAD)
  • 5 people: 8,042 CAD (up from 7,740 CAD)
  • 6 people: 9,070 CAD (up from 8,729 CAD)
  • 7 people: 10,098 CAD (up from 9,718 CAD)
  • Each additional family member: (up from 989 CAD)

Who Is Exempt?

Not everyone needs to meet this requirement. If you’re already working in Canada on a valid work permit, you are exempt from demonstrating settlement funds. 

Why It Matters

Settlement funds are a crucial part of your AIP application. They ensure that you can support yourself and your family for the initial period after arriving—covering expenses like housing, food, and transportation—without needing social assistance. Even a relatively small increase can affect eligibility, so accurate financial planning is vital.

How to Calculate Family Size

Your required amount depends on your “family size,” which includes:

  • Yourself
  • Your spouse or common-law partner
  • Your dependent children
  • Your partner’s dependent children

Include these individuals even if they’re Canadian citizens, permanent residents, or not coming with you. 

What Counts as Proof of Funds?

IRCC requires official documentation from financial institutions (on letterhead), including:

  • Your name
  • Account details (numbers, opening dates, current balance, 6-month average)
  • Outstanding debts
  • Bank contact information

Funds must be liquid and immediately accessible. You cannot count equity in real estate or borrowed money. Joint accounts are acceptable if you can prove access.

How to Prepare

  1. Review and update your finances now. Make sure you meet the updated amount for your family size.
  2. Maintain stability. Avoid large, last-minute deposits; keep the required amount in your account for several months.
  3. Collect documentation. Request bank letters early to avoid delays.
  4. Consider currency impacts. If savings are in a foreign currency, monitor exchange rates to ensure you meet Canadian-dollar requirements.

Planning ahead helps avoid ineligibility or delays.

Canada’s modest increase in settlement fund requirements under the AIP reflects rising living costs but also stresses the importance of financial readiness. If you're pursuing permanent residency through the Atlantic Immigration Program, it’s essential to factor in the new amounts and organize documentation accordingly. With the right preparation, you can confidently move forward on your journey to settle in Atlantic Canada.

FAQs

How Much More do I Need to Show For AIP Settlement Funds in 2025?

You'll need about 140 CAD more compared to 2024—for example, 3,815 CAD for a single applicant (previously 3,672 CAD).

Am I Required to Show Settlement Funds if I'm Already Working in Canada?

No. Applicants already working in Canada with a valid work permit are exempt from proving settlement funds.

What Proof Does IRCC Require For Settlement Funds?

You need official bank letters on letterhead that include your name, account details, balances, average balance over the past 6 months, and outstanding debts. Funds must be liquid and accessible, not borrowed or tied to property.