Canada Increases Settlement Fund Requirements for Atlantic Immigration Program (AIP)
Effective July 29, 2025, Immigration, Refugees and Citizenship Canada (IRCC) has announced an official increase in the minimum settlement fund requirements for the Atlantic Immigration Program (AIP). This update aims to ensure that newcomers have adequate financial resources to successfully settle in Atlantic Canada.
What Are Settlement Funds and Why Are They Important?
Settlement funds are financial resources that immigration applicants must demonstrate to prove they can support themselves and their families after arriving in Canada. This requirement applies to AIP applicants who do not currently have a valid Canadian work permit.
The adjustment aligns with recent changes to Canada’s Low-Income Cut-Off (LICO), reflecting the rising cost of living across Atlantic provinces such as Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland and Labrador.
Updated Settlement Fund Requirements (2025)
| Family Size | 2025 Required Funds (CAD) | 2024 Required Funds (CAD) |
|---|---|---|
| 1 | $3,815 | $3,672 |
| 2 | $4,750 | $4,572 |
| 3 | $5,840 | $5,620 |
| 4 | $7,090 | $6,824 |
| 5 | $8,042 | $7,740 |
| 6 | $9,070 | $8,729 |
| 7 | $10,098 | $9,718 |
| Each additional member | $1,028 | $989 |
Who Needs to Show Proof of Settlement Funds?
You must show proof of funds if:
- You are applying under AIP from outside Canada
- You do not hold a valid Canadian work permit
You do not need to show proof of funds if:
- You are already living in Canada with a valid work permit
- You are employed full-time in an eligible AIP job in one of the Atlantic provinces
What Counts as Acceptable Proof of Funds?
To satisfy the settlement fund requirement, you must submit official financial documents from recognized institutions showing:
- Your name and the institution’s contact information
- Account numbers and current balance
- Six-month average balance
- Confirmation of any debts or liabilities
About the Atlantic Immigration Program (AIP)
The AIP is an employer-driven immigration program for foreign nationals who want to live and work permanently in Atlantic Canada, including the provinces of:
- New Brunswick
- Nova Scotia
- Prince Edward Island
- Newfoundland and Labrador
Eligibility Criteria:
Applicants must:
- Have a valid job offer from a designated Atlantic employer
- Get the offer endorsed by the province
They must also belong to one of the following categories:
- Skilled workers with relevant experience (in or outside Canada)
- Recent graduates from an Atlantic Canadian post-secondary institution
In addition, applicants need to meet criteria in:
- Education
- Language proficiency (English or French)
- Financial capacity, by proving the required settlement funds
Eligible applicants can:
- Apply for Permanent Residence (PR) through IRCC
- Apply for a temporary work permit (valid for up to two years) to begin working while their PR application is in process