proof of funds help

[Vangelis21]

Hello again,

I would like to ask this about proof of funds.

So, as I understand the Visa Office wants to make sure that the money we present as proof of funds is ours and not borrowed. They want this (to my understanding) in order to make sure that we do not go there penniless an be a burden on the Canadian government, welfare etc.

Now, the thing is that the money we are planning to show in the proof of funds, IS indeed ours. Saved from work, asked relatives (not borrowed but given), our money that we got after selling some of our stuff etc. But we did not have that money in any bank account because we had no idea we would try this immigration process.

Is there any way that if the VO asks for a 6/12/24 etc month bank statement, we will be able to prove that we didn't just borrow the money and it is ours? Thank you

[asyousuf]

Dear. Your basic understanding for purpose of proof is right. Suggest to visit the below link and read all

http://www.cic.gc.ca/English/immigrate/skilled/funds.asp

Not defined anywhere about the time length of bank statement. Suggest to share 6 months statement to prove your financial strength. Do remember that VO may ask you to re-share the latest bank statement at the time of finalizing your application in order to ensure that u r still able to manage your own costs.

gud luk
asyousuf

[Vangelis21]

Thank you,

The thing is that I do have the money now, I will have the money later, and of course I will Land to Canada with this money in my account. The problem is that if they ask me ANY bank statement before today they will find the account with only my monthly payment from work. I am afraid that they may falsely consider that the money is borrowed and I was wondering if there is any way to prove them that it is ours

[asyousuf]

Doubts can be raised over any matter. Dont bother about these matters if you have the sufficient amount (as per CHC standards) and unless asked to prove.

I hope you have read the guidelines. Better do not create and live with so many doubts. If u r a serious applicant and clean as per CHC standards, step into the process. In my case, i used the account that i regularly use for getting my salary and managing my routine payouts. Probably same is your case. No question or doubt was casted.

Why one would consider your claims being false and incorrect unless they have reason for doubts. If they do, will ask you questions and suggest the ways to prove its genuinness.

[Vangelis21]

Ok man, thank you. I hope it goes smoothly!

[mitali]

Thank you,

The thing is that I do have the money now, I will have the money later, and of course I will Land to Canada with this money in my account. The problem is that if they ask me ANY bank statement before today they will find the account with only my monthly payment from work. I am afraid that they may falsely consider that the money is borrowed and I was wondering if there is any way to prove them that it is ours

Hi,

For example, if your application is received at CIO on 1st October, then according to the current information on this forum, you would get:

1. An email from CIO that your application is complete after      -1 month
2. Your file will be transferred to VO in another                       -1 month
3. Your application stays in RBVO (Received by Visa office for    - 4-6 months
4. VO may ask for an updated statement when you go In Process

So, basically you have some time to add YOUR OWN MONEY to your account and provide the 3 or 6 statement when asked by VO. By the time you are asked for the statement all the money for POF will be yours. But if they ask for 12 month statement then you will have to provide documents that will prove that the money was yours to begin with.

Mitali

[Vangelis21]

Thank you Mitali,

The money is mine to begin with. And yes if the request a 6-month statement, in 6 months from now, things will be easier. But how can I prove that the money is mine if they request older statements? That is a question I am troubled with. The money was not in any account before the application. I cannot think of any way

[mitali]

Thank you Mitali,

The money is mine to begin with. And yes if the request a 6-month statement, in 6 months from now, things will be easier. But how can I prove that the money is mine if they request older statements? That is a question I am troubled with. The money was not in any account before the application. I cannot think of any way

I hear what you say and your concerns are genuine. If the money was a gift then try to get an affidavit from them stating that they have gifted you the money....I am not quite sure if this would be acceptable by CIO.....but that is the BEST I can come up with.

Maybe you will be asked for only 3 months statements....lets hope for the best.

Mitali

[sonir]

They will be satisfied if the money has been in your account in last 6 months statement.

If transferred with in 6 months then a query can be raised.  Be prepared with the necessary documentation.

Regards

Sonir

[pittabread]

Hello again,

I would like to ask this about proof of funds.

So, as I understand the Visa Office wants to make sure that the money we present as proof of funds is ours and not borrowed. They want this (to my understanding) in order to make sure that we do not go there penniless an be a burden on the Canadian government, welfare etc.

Now, the thing is that the money we are planning to show in the proof of funds, IS indeed ours. Saved from work, asked relatives (not borrowed but given), our money that we got after selling some of our stuff etc. But we did not have that money in any bank account because we had no idea we would try this immigration process.

Is there any way that if the VO asks for a 6/12/24 etc month bank statement, we will be able to prove that we didn't just borrow the money and it is ours? Thank you

Hi!

To prove the money is yours, the simplest principle in life is to be honest. Do exactly what you said. If you have been given money by relatives get affidavit from them that they have given you money. If you have saved from work get some sort of proof of that. If you have sold stuff provide the proof.

Sum these things up in a cover letter and you will be ok. No need to worry about 6 months bank statement or so. Main purpose is to show that money is yours and you obtained it by all the right means.

All the best........

Thanks

[Vangelis21]

thank you for the replies. I hope everything will go well. If anyone has any information that can help, please do share

[sharat_joshi77]

thank you for the replies. I hope everything will go well. If anyone has any information that can help, please do share

Hello,

I can give you my experience.

First of all, where do you have your bank account ? Is it in India or USA ?
I have heard (from this very forum) that they do not consider Indian bank statements.
So taking any lenghth bank statements is a risky business. If the VO does not accept that, you will be in trouble.

What I did was that I took some money in Case (USD) and rest in TC (USD)
That way, you need not worry about any affidavit, any statement and you will have your peace f mind that the VO cannot question you atleast on POF.

Now you may ask whatif the amount is too big ?
The person standing before me in line was carrying TCs+ Cash worth 50,000 USD.
VO asked him to show that and he displayed. Though O did not counted, but he accepted that as POF.
Reg me, VO dd not even asked to show the TC/ Cash.

So basically its case to case basis.
But to be on safer side, I would advice to Carry TC/ DD/ Cash form.

Hope it helps.

Also, as asyousuf said, do not live in doubts. (I liked this statement)
If you have not applied so far, then I dont think its any issue. You can show your bank statement for 6 months while applying.
Actual POF will be asked only at the time of landing.

Regards,
Sharat Joshi

[Vangelis21]

My bank is in Greece. Doubt or no doubt I am trying to as clear and safe as possible!

[Vangelis21]

Can someone inform us on something? Are joint accounts acceptable or for the bank statement they ask to be valid you need to have the money in a bank in your name only?

thank you

[Cappuccino]

Thank you,

The thing is that I do have the money now, I will have the money later, and of course I will Land to Canada with this money in my account. The problem is that if they ask me ANY bank statement before today they will find the account with only my monthly payment from work. I am afraid that they may falsely consider that the money is borrowed and I was wondering if there is any way to prove them that it is ours

It is important you appear open and truthful with CIC from the outset. If you don't submit statements now and they later ask for them and they ask "where did this sum of money come from?" it will appear less favourable than if you'd disclosed it at the beginning.

CIC don't insist that the money has been there for any given period of time before you apply, but they usually want to see 3 to 6 months statements so they can see the history of the money. Where has it come from?

If the money was generated by selling assets or property that you own, try to get the receipts for the sales and submit those along with statements showing you deposited the money.

Otherwise, as you say, it may be difficult to prove the money is yours if you deposit large amounts of cash into the bank now.

Best of luck with your application,
Wayne.