Proof of Funds for those from Singapore

[pocoyo]

Hello Guys,

Anybody here applying immigration for canada from singapore?
I am currently a PR in singapore and I am banking only on my CPF (Central Provident Fund) for proof of funds. Is this acceptable or do I really need to show a bank account as a proof?
Thanks for your reply.

[tran]

In my opinion, it's not sufficient just to show your CPF as proof of funds.
You need to show other liquid assets(fixed deposit, stock, etc.).

CPF is like a fish trap; very easy to go in, but extremely difficult to get out.
You need to renounce your Singapore PR to get your CPF. Even then, you don't
get your CPF immediately. If you're from West Malaysia, tough luck, you need
to wait until 55?

For my case, I need to get my Canadian citizenship first and then renounce
my Singapore citizenship - only then I can get my CPF.

Good luck!

[pocoyo]

Thanks a lot Tran for the info.

[mediajunkie]

I have a Canadian bank account with CA$10,000 inside, and I borrowed S$100,000 from my aunt and left it in my Singapore bank account for 2 months to show them proof of funds. I showed them the statements from both months. If you have a place to borrow the money, in whatever currency, just borrow it, make the bank print a statement, and send it to the high commission.

[pocoyo]

Thanks mediajunkie,

Though I have not been asked for this fund yet as I have just sent my application 2 weeks ago, I just want to be prepared in case CHC ask me for proof of fund. You're right, I need to find a place borrow this amount. Thanks a lot.