On July 29, 2025, Immigration, Refugees and Citizenship Canada (IRCC) has announced an increase in the minimum settlement funds required for applicants to the Atlantic Immigration Program (AIP). The updated financial thresholds, effective July 29, 2025, reflect a 3.89% increase over 2024 levels and apply to foreign nationals seeking permanent residence in Canada’s Atlantic provinces.
Background: The AIP is an employer-driven immigration pathway designed to attract skilled workers and international graduates to New Brunswick, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island. To qualify, applicants must have a job offer from a designated employer and meet settlement fund requirements unless they are already working in Canada on a valid work permit.
Updated Settlement Fund Requirements (in CAD):
- 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 person: $1,028
Applicants must provide official bank letters showing account details, balances, and average holdings over the past six months. Funds must be accessible upon arrival in Canada and cannot include borrowed money or real estate equity. Joint accounts with a spouse may be used, provided access to the funds can be demonstrated.
This update underscores Canada’s continued focus on ensuring newcomers are financially prepared to settle successfully in Atlantic communities.
Erickson Insights & Analysis
Erickson Immigration Group will continue monitoring developments and sharing updates as more news is available. Please contact your employer or EIG attorney if you have questions about anything we’re reporting above or if you have case-specific questions.