Proof of Funds in Newly Opened Bank Account

[Dr.Hasib]

Wayne,
As per my knowledge, PA can show spouse's  bank balance as POF (if spouse accompany).
Do you have any authentic source of this information?

regards,
Dr.Hasib

[Cappuccino]

  @    Cappuccino
i will be paying around CAD2000 per month. Thats why i told i can finish the loan before the immigration process finish. And when it is time for landing i will be having more than the mandatory amount stipulated by CIC. I was gathering money for this reason but in between some familial emergency (hospital related) came up and i had to withdraw the money. i have been saving money since October but the emegency turned up last month and eaten up almost 80% of my savings till then. So now i think u got a better picture of my condition. And from all your opinions i think i have to wait till next July when the immigration window opens next or is there any other option?

Hi Unsung Hero,

Hmmm I've asked several times but you haven't answered - do you have any property? Any equity you hold in property can be used as proof of funding? Do you have any other assets which you could sell?

Otherwise, by borrowing the money from the bank and repaying it before you go to Canada, I see the following plus point and minus points

PLUS
- You will be able to apply this year
- By repaying the full amount before you travel to Canada (hence having the full settlement funds unencumbered by debt before setting foot in Canada) you will at least morally have got the picture!

MINUS
- It is against CIC rules and by stating on your forums that you have this money unencumbered by debt, you will be technically lying to the Canadian government on a signed document, which is a crime
- If you are caught and visa office find out you have borrowed the money, it is not only likely to fail this application, but also prevent you from filing a new application for several years

So I guess it is not an easy choice. My strongest advice is that the minuses far outweight the plusses, and that your best option is to save hard and apply when you do have the full funds.


But another thing to remember is that the rules are changing on 1st July 2011. It seems almost certain the points matrix will change (more points for age and language, less points for work experience), but also the list of in-demand occupations could change.

May I ask, under which NOC were you intending to apply? There can be no guarantee the NOC will still be on the list after 1st July 2011.

Anyway, I respect the fact you seem to have seen why it is important to have these settlement funds unencumbered by debt before you move to Canada, so I am not saying you are deliberately trying to swindle the system (unlike SOME users on here!!). But likewise you simply cannot ignore the legal ramifications or the possible bad consequences if you are caught.

ONE FURTHER OPTION: If you can secure a job offer, then you can apply under Category 2, and you will not need to show any proof of funding. Category 2 also has not NOC cap, so it might be an alternative to consider if funds are likely to be a problem for the short to mid term.

I wish you luck in making the right choice!

Best wishes,
Wayne.

[Cappuccino]

Wayne,
As per my knowledge, PA can show spouse's  bank balance as POF (if spouse accompany).
Do you have any authentic source of this information?

regards,
Dr.Hasib

Actually having just looked - visa office specific checklists and CIC guidelines don't really seem to mention it.

However, I have gained this knowledge from several people reporting queries they've had answered from visa offices.

Wayne.

[Unsung Hero]

No dear, i dont have any property in my name and my NOC is 3152 (registered nurse).

[Cappuccino]

No dear, i dont have any property in my name and my NOC is 3152 (registered nurse).

Ah ok.

Well the thing is, you cannot apply as Federal Skilled Worker until 1st July 2011 since the cap for nurses has already filled up. So you have to wait a month or two anyway.

Last year the cap for FSW to reach 1000 took nearly 6 months to fill.

Perhaps a sensible measure would be to continue to save funds and keep an eye out what happens to the 3152 cap after 1st July 2011? You can't apply until after then anyway, but it may be that CIC increases the cap for this.

Also it may be that NOC 3152 is dropped from the list (unlikely, but possible) in which case your proof of funding dilemna will be hypothetical anyway.

So my advice is to keep saving and start watching things carefully after 1st July.

If you haven't done so already, it will be worth booking an IELTS test - since these can take 2 months to get, but once you have it they are valid for 2 years.

Wayne.

[Unsung Hero]

Dear Wayne, i have already given the IELTS (general module) on May 7th and got my TRF on Sunday and got 7 band score.

[Cappuccino]

Dear Wayne, i have already given the IELTS (general module) on May 7th and got my TRF on Sunday and got 7 band score.

Well ok cool.

As I said, if I were you I would just save as hard as you can and keep an eye on things. Like I said, you can't apply for a few months anyway because the CAP for 3152 this year is already full. Once CIC start publishing the application totals for the 1st July 2011 to 30th June 2012 fiscal year, you should be able to monitor how the CAP for 3152 is going (assuming it is still on the list, hopefully it will be).

There's no panic to apply until that cap starts getting uncomfortably close to the limit (guessing the limit will still be 1000 but they may amend it). By the time the cap gets anywhere near full later this year, you may find you have enough funds to apply.

Best of luck,
Wayne.

[devilhimselff]

Wayne, I have read several place that you can include Accompanying Spouse name Account too.
Anyways my situation is like this, major account (approx 13+ in our Joint account) and the remaining are in Wife's account only. YIKESS!!!!! Now you have made me nervous 

[Cappuccino]

Wayne, I have read several place that you can include Accompanying Spouse name Account too.
Anyways my situation is like this, major account (approx 13+ in our Joint account) and the remaining are in Wife's account only. YIKESS!!!!! Now you have made me nervous 

Do not panic!

To the best of my knowledge proof of funds can be in principal applicant's name soley, OR spouse's name solely, OR joint names. As long as the spouse is part of the application and will accompany you to Canada.

Wayne.

[devilhimselff]

I hope so    

O well too late to do otherwise ....Gotta chill
THANKS FOR THE REPLY.

[shankariyer]

Wayne, hi
Sorry for raising this issue under this subject. I am from Dubai. My file was opened on 15/7/2007 with CHC London through a consultant who is hopeless. My medical was sent on 5/10/2010. when i checked with CHC through consultant and was advised on 2/3/11 that 'awaiting background review'. Now the 47 months processing time completed. questions:
a) now with 4 months more for my medicals to expire is there chance to get visa.
b) will there be enough time from visa receipt and travel date
c) is there chance to go beyond medical expiry; what i will have to do.
Please advise.
Cheers!

[xehiaa]

Hi everyone.
I am on my way  to mail my application  under the Federal Skilled Worker.
But one step  became unclear for me about proof of funds.
I own a Real  Property that i evaluated by a third party who is in the business of valuating and etc...
 however, I just found the information that I have to  write an official  statement-"SWORN AFFIDAVIT OF INTENT TO SELL (Property) OR WITHDRAW (money).
Is anybody know what it means,or have already written  it and willing to share!?
 I will deeply appreciate any prompt  answer. I really got  stuck by it right after everything had been ready to be sent.

Thanks!