Hi All,
I have few queries on Proof of funds for AINP.
- Do we have to show 6 months balance to AINP or to IRCC?
- Is it required to show all bank accounts?
- Is it ok if I took some money from my friend (Two transfers: 1Lakh+2LakhsINR) for purchasing a house here?
- Even if I get an ITA, Will there be an issue with Visa later?
- Do we send 6 months Bank statement before PNP or after PNP?
Thank you for answering in advance. Sincerely appreciate all the information provided in many forums on this website
1. IRCC (AINP don’t ask for financial information, except they can additionally request for pay statements as part of proof of job)
2. Strictly speaking yes, based on what IRCC say on their website. You’re supposed to show all your assets and liabilities. What’s less clear is what to do if one financial institution won’t provide a proof of funds letter (or don’t include some information, like average balance over 6 months). But you can probably include a letter of explanation and statements.
3. You need to meet the minimum financial requirements with cleared and unencumbered funds. So to count, these would need to be a gift from your friend that he/she is not expecting to be paid back. There’s information online about evidence letters to that effect. If this is on top of the required funds and/or you’d spend it before getting PR, then it’s less important. If there’s a sudden increase or decrease in the balance of your account(s), or a big difference between the average balance over 6 months and the current balance, then be prepared to explain that upfront. I don’t know for sure, but IRCC are likely to send ADR for bank statements and more information otherwise.
4. You need to meet the requirements for ITA (but this is self declared), when submit e-APR within 60 days of ITA (when have to attach proof of funds information) and when granted PR status (certainly when see immigration officer at border, or Service Canada CBSA centre for inland). IRCC probably have to be confident the information is still current when issue COPR, which takes 6+ months from ITA/AOR. But that would only be if got ADR as, although there’s no automatic requirement to resubmit/update financial information during processing, you probably are required to update IRCC with any substantial changes. For example, if a person got COPR and then landed to do final steps and come to Canada, then it became clear to the immigration officer that they no longer met financial requirements, the officer could refuse to grant your PR status and more information would be needed. Ultimately IRCC could issue a 5 year ban if they considered information submitted was misleading.
5. After PNP. But you may need to request proof of funds letters ahead of time, as if/when get PNP in Express Entry aligned you are guaranteed to get ITA in next round, then have 60 days to submit. So it depends a bit on how slow the banks and mail will be. For statements, it would be at least the last 6 months of statements at the time submit e-APR, so after PNP and ITA. I’m not sure if it’s different if you are applying via AOS and then paper federal PR application, as that federal part takes 15-19 months. A lot can happen in a year and I imagine you just need to prove funds at submission and at landing.
