Proof of Funds (Express Entry)

[deepu2595]

Hi I have a question regarding the POF as I got invitation under cec do I have to show the funds even if I'm not working at this point of time. Thanks in advance.

 

[uppperkut]

Hi everyone,

I'm not sure what information my bank can write in the letter, but they're happy to provide stamped statements for as long as I can ask. Would that be enough?

Thanks!

 

[vishalg]

Hi everyone,

I'm not sure what information my bank can write in the letter, but they're happy to provide stamped statements for as long as I can ask. Would that be enough?

Thanks!

Not sure about you location, but Indian banks give them.
If in India - You have to be a little persistent and give them the format, some of them are too lazy to create it on their own.

 

[uppperkut]

Not sure about you location, but Indian banks give them.
If in India - You have to be a little persistent and give them the format, some of them are too lazy to create it on their own.

I'm in the UAE. I called my bank and they can give a letter, but it might not have the exact requirements of the IRCC. But together with bank statements (I can get for the last year for example) it should suffice, no? The amount is also much higher than the minimum requirement.

2 more questions please
- Do I have to show amounts in Canadian dollars or local currency is fine?
- What is the best time to get the proof of funds during the ITA window?

 

[vishalg]

I'm in the UAE. I called my bank and they can give a letter, but it might not have the exact requirements of the IRCC. But together with bank statements (I can get for the last year for example) it should suffice, no? The amount is also much higher than the minimum requirement.

2 more questions please
- Do I have to show amounts in Canadian dollars or local currency is fine?
- What is the best time to get the proof of funds during the ITA window?

Account statements (stamped) would be fine along with letter
1. Request them to provide at least the current balance in CAD also. If they do not give you write an LOE and convert as per the conversion rates available on bank of canada's website.
2. You should submit your application within 2-3 weeks of procuring bank letters and statements.

 

[prabag]

Hello Vishal,
Is there anytime between form submission between form filling and documents upload?
When we have to pay the fees?
Whether we have to pay the fees before uploading documents or after uploading documents?
Kindly advise.
Thanks

 

[DelPiero07]

Hello Vishal,
Is there anytime between form submission between form filling and documents upload?
When we have to pay the fees?
Whether we have to pay the fees before uploading documents or after uploading documents?
Kindly advise.
Thanks

After uploading the documents.

 

[abeblawy]

Dear Gentlemen,

In case I am the primary applicant and I have 3,000 CAD in my account and my wife has 20,000 CAD in her account and she will accompany me while landing and after that she might return to our country.

Does this serve as POF or should my account include more than my wife?

Please advise

 

[vishalg]

Dear Gentlemen,

In case I am the primary applicant and I have 3,000 CAD in my account and my wife has 20,000 CAD in her account and she will accompany me while landing and after that she might return to our country.

Does this serve as POF or should my account include more than my wife?

Please advise

Does this serve as POF - Yes
should my account include more than my wife? - Doesn't matter

 

[abeblawy]

Does this serve as POF - Yes
should my account include more than my wife? - Doesn't matter

Thanks alot for your help

 

[prabag]

Does this serve as POF - Yes
should my account include more than my wife? - Doesn't matter

Thanks a lot Vishal for your guidance and quick reply.
Is there any case you come across like Primary applicant is having less fund and spouse having more fund?
Also the case whose Employee Provident fund is accepted?
I am little nervous as Its something we should not be wrong, asking same question again.
Waiting for your valuable feedback....
Thanks in advance.

 

[vishalg]

Thanks a lot Vishal for your guidance and quick reply.
Is there any case you come across like Primary applicant is having less fund and spouse having more fund?
Also the case whose Employee Provident fund is accepted?
I am little nervous as Its something we should not be wrong, asking same question again.
Waiting for your valuable feedback....
Thanks in advance.

There are a lot of cases where people have successfully used EPF as POF (although I am not sure what percentage of total funds shown was EPF). I have used EPF but marginally (cover up for exchange rate fluctuation). So far I have read principal applicant utilizing his/her EPF. But I think if spouse's bank balance is accepted then his/her EPF should also be accepted. Would require additional documentation though.
I don't think difference in account balance is a problem
Don't remember any specific case, if you are too worried then ask your spouse to transfer the funds in your account, get a gift deed prepared.

 

[vishalg]

Thanks a lot Vishal for your guidance and quick reply.
Is there any case you come across like Primary applicant is having less fund and spouse having more fund?
Also the case whose Employee Provident fund is accepted?
I am little nervous as Its something we should not be wrong, asking same question again.
Waiting for your valuable feedback....
Thanks in advance.

Read the following thread for EPF
http://www.canadavisa.com/canada-immigration-discussion-board/procedure-to-get-pf-balance-certificate-and-ac-statement-from-pf-office-india-t412640.0.html

 

[prabag]

Read the following thread for EPF
http://www.canadavisa.com/canada-immigration-discussion-board/procedure-to-get-pf-balance-certificate-and-ac-statement-from-pf-office-india-t412640.0.html

Thank you Vishalg.
I have taken printout of PF statement on company letterhead, stamped.
But, I dont think My employer will give in writing that the PF amount will be released if he is resigned or moved to another country for PR. What to do in that case?
Whether its written on Statement given by PF office? If not written on PF statement, we have to ask specifically to PF office?
Kindly guide

 

[vishalg]

Thank you Vishalg.
I have taken printout of PF statement on company letterhead, stamped.
But, I dont think My employer will give in writing that the PF amount will be released if he is resigned or moved to another country for PR. What to do in that case?
Whether its written on Statement given by PF office? If not written on PF statement, we have to ask specifically to PF office?
Kindly guide

If the PF details are mentioned on the payslips then it will work.
It is not written on EPF Ledger. The reason of stamping it is to validate the funds available.
Check the withdrawal clause of EPF on their website, it is one of the clauses that you can withdraw the funds after quitting the job and migrating to another country. If your PF account is less than 5 years old, i guess 10% tax would be deducted from the final sum.