Proof of Funds clarification

[sumitbhutanigwl]

Hi,

For how much time before and after the ITA do I need to maintain the minimum balance in my account as proof of funds? For e.g. I currently have 18000 CAD in my account which I have taken from my father. If I get ITA next month, can I withdraw the amount after taking bank statements and give it back to my father? or do I need to keep it with me till i get my PR?

Thanks in advance!

 

[Stanlee]

Hi,

For how much time before and after the ITA do I need to maintain the minimum balance in my account as proof of funds? For e.g. I currently have 18000 CAD in my account which I have taken from my father. If I get ITA next month, can I withdraw the amount after taking bank statements and give it back to my father? or do I need to keep it with me till i get my PR?

Thanks in advance!

It is advisable to keep the amount in your account for the duration of the PR process. In case the case officer asks for an updated POF while the application is under process, then you will need to show the funds.

 

[istari]

Hi,

For how much time before and after the ITA do I need to maintain the minimum balance in my account as proof of funds? For e.g. I currently have 18000 CAD in my account which I have taken from my father. If I get ITA next month, can I withdraw the amount after taking bank statements and give it back to my father? or do I need to keep it with me till i get my PR?

Thanks in advance!

You CANNOT do this.
What you have in your bank account is a loan from your father. It is not your money; it is your father's money.
The point of showing Proof of Funds is to prove that the money is yours.
If you are showing POF with money that was given to you by your father, you need a gift deed from your father stating that the money is a gift and you do not need to return it to him.

If you use borrowed money to show POF and CIC finds out, you can be banned from entering Canada for 5 years.

 

[BC4life]

You CANNOT do this.
What you have in your bank account is a loan from your father. It is not your money; it is your father's money.
The point of showing Proof of Funds is to prove that the money is yours.
If you are showing POF with money that was given to you by your father, you need an gift deed from your father stating that the money is a gift and you do not need to return it to him.

If you use borrowed money to show POF and CIC finds out, you can be banned from entering Canada for 5 years.

+1; furthermore, when you land as PR, you still need to show that you still meet the POF requirements at that time.

 

[Susheem]

Hello guys
I recently added my new born baby to my application,new POF and picture of child was not asked,so I raised cse and attached new pof and photo of child. I gave bank account letter of me and my wife,instead of showing all amount in my wife's account.

Is it a problem,as it was not a joint account.