Express Entry Proof of Funds from Brazil: How Much Money You Need and How to Document It

The settlement fund requirement is one of the hardest parts of Express Entry for Brazilian applicants — not because the amounts are unreasonable in absolute terms, but because the Brazilian Real's volatility means the actual number keeps moving. A family of four that calculated their target in January may find they need 10 to 15% more by September due to currency depreciation.

This post covers the current required amounts, which types of Brazilian accounts qualify, and what IRCC needs to see in your bank letter.

What Is the Proof of Funds Requirement?

Express Entry requires FSWP and FSTP applicants to show that they have enough liquid, unencumbered money to settle in Canada without drawing on government assistance. The amounts are set annually by IRCC based on Canada's Low-Income Cut-Off (LICO) table.

If you already have a valid job offer in Canada, or if you are applying under the Canadian Experience Class (CEC), this requirement does not apply to you. You only need proof of funds if you are applying under FSWP (Federal Skilled Worker Program) or FSTP without a Canadian job offer.

Current Required Amounts (Updated July 2025)

IRCC raised the minimum fund requirements on July 7, 2025 — an increase of approximately 4% over the prior year:

These funds must be available in your account at the time you submit your Express Entry profile AND when you submit your full application after receiving an ITA. If your balance drops below the threshold between profile creation and application submission, your application may be refused.

BRL Equivalents at Different Exchange Rates

The BRL/CAD rate fluctuates continuously. Here is a reference range based on rates seen in 2025-2026:

Practical advice: Maintain a buffer of at least 10 to 15% above the CAD requirement to absorb exchange rate movement between the time you calculate and the time you submit. If the BRL depreciates, you need more reais to meet the same CAD threshold.

What Counts as Acceptable Funds

IRCC requires funds to be "liquid" (accessible immediately) and "unencumbered" (not borrowed or tied up in debt).

Accepted assets from Brazil:

• Savings accounts (conta poupança, conta corrente): Accepted if you can withdraw the full amount today. No restrictions, no pending transactions, no liens.
• CDB (Certificado de Depósito Bancário) with daily liquidity (liquidez diária): Accepted. CDBs with a carência (grace period) do not count until the carência expires.
• Tesouro Direto bonds: Accepted. These are Brazilian federal government bonds that can be liquidated within 24 hours through the official portal.
• Fixed-term deposits with maturity before your e-APR submission: Accepted if the maturity date falls before you need to submit your application.
• Stocks and investment funds (FIIs, ações): Generally not accepted unless they can be demonstrated to be immediately convertible to cash and the value is stable. IRCC prefers cash-equivalent assets. If you hold significant equity, liquidate into a savings account or CDB before documenting.

Not accepted:

• Funds from a personal loan, consignado, or any form of credit line
• Equity in real property (your apartment or house does not count)
• Money held in someone else's account (unless accompanied by a notarized gift letter and already transferred to your account)
• CDB, LCI, or LCA with an unexpired carência

The Bank Letter: What It Must Contain

This is where many Brazilian applicants get tripped up. IRCC requires a formal letter from your bank — not just a bank statement. The letter must be in English or French.

A compliant proof of funds bank letter must include:

1. The bank's official letterhead with the bank's name and address
2. Your full name (exactly as it appears on your passport)
3. Your account number(s)
4. The account opening date
5. The current account balance
6. The average balance over the past 6 months
7. A statement that the account is in good standing and not subject to any liens or restrictions
8. The bank officer's name, title, and signature (or an official stamp from the branch)
9. The date of the letter (must be recent — typically within 6 months of your application)

Nubank and Banco Inter: These digital banks are accepted, but they do not automatically produce letters in the format IRCC requires. You need to contact their customer support to request a "Declaração de Saldo" that specifically includes the 6-month average balance and a statement that the account is unencumbered. This is not a standard request and may take several business days to process. Start this early.

Traditional banks (Bradesco, Itaú, Santander, Caixa, BB): Most branches can produce a letter in this format if you go in person. Bring your CPF, account information, and ask the gerente to issue a "carta de referência bancária para fins de imigração." Some branches have a standard template; others will need to type it manually. Request the letter in English if possible.

The 6-Month Average Balance Problem

The 6-month average balance requirement creates a common problem: if you recently deposited a large sum (from a salary bonus, the sale of a car, or a gift from a parent), the average will be lower than the current balance, and IRCC may question whether the funds are genuinely available or were just moved in temporarily.

If your current balance significantly exceeds your 6-month average, you must provide a "paper trail" — documentation showing where the money came from. For example:

• Sold your car → submit the bill of sale (nota fiscal) and the bank receipt showing the deposit
• Gift from a parent → notarized gift letter stating the money is a gift with no obligation to repay, plus a bank receipt showing the transfer into your account
• Year-end bonus from your employer → pay stubs (holerites) covering the bonus period

Without this documentation, IRCC may consider the funds unverified and refuse or flag your application.

Timing Your Bank Letter

IRCC accepts bank letters up to 6 months old at the time of application submission. However, given the BRL/CAD volatility, it is better to obtain a fresh letter close to your e-APR submission rather than relying on a letter that shows a balance from months ago. If the exchange rate has moved against you, an older letter might show an amount that no longer meets the current CAD threshold.

Get your bank letter after you receive your ITA and within the 60-day application window. Do not rely on a letter prepared during profile creation.

The Brazil → Canada Express Entry Guide covers the full documentation checklist including the proof of funds letter, the apostille and sworn translation requirements for other financial documents, and how to handle Tesouro Direto liquidation statements for IRCC submissions.

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