Proof of Funds (Express Entry)

[mhk16]

Hi all,

Regarding the lump sum amount: in 2015, I had saved around 2 lac rs (from my previous job) and loaned that amount to a friend. Now the accounts in which this transaction took place are both closed (I cant retrieve any transaction proof if i want to).
And my friend has returned the amount in one go (2500 CAD), in the same account which i will be using for Proof of funds.

I might get an ITA in any of the next 2 draws. I dint know that any lumpsum added in the last 6 months might result in Fraud case as never thought of it that way.

But now um really scared for January and May, as my monthly closing balance comes out to be:

Before January: 4000 CAD
January: 6300 CAD (2300 CAD added from last year's savings+Bonus)
February: 7400 CAD
March: 8000 CAD
April: 8300 CAD
May: 10800 CAD (2500 CAD already added)
Was Planning to add, so it could be in June: 12600 CAD

-Has someone else been in the same situation?
-I cant show a gift deed as this transaction was done by a friend or can I?
-Can someone please help me and suggest any kind of explanation that can go through, as this money was initially mine hard earned money only, but there is no proof of it now!
P.S. No transaction is more than 25% of the minimum funds required(12k CAD) Can this fact rather help me in this situation.

Really freaking out as this is the only account i can show. TIA.

 

[deolanaire]

Hello All,

Please can I submit a proof of an expected gratuity as proof of funds for Canada immigration. If possible, pls give format I should use in explaining the gratuity.

Thank you

 

[DelPiero07]

Hello All,

Please can I submit a proof of an expected gratuity as proof of funds for Canada immigration. If possible, pls give format I should use in explaining the gratuity.

Thank you

You cannot.

 

[DelPiero07]

Hi guys!
I am gathering all docs to finalize my application asap, since I got ITA on April 25.
Regarding proof of funds, I have 200,000 reais in my bank account, which is more than enough considering EE requirements.
Do I need to provide this information in CAD or BRL? In other words, which currency should I use?
Thanks in advance.

It doesn't matter which one you use.

 

[FMT]

I'm a prospective applicant for Express Entry - 2018 as I still haven't made a profile yet. Recently got my ECA done by WES and got positive assessment. Now I am moving towards collecting various documents needed for the process and one of which is Proof of Funds.


Doubts:


- Does CIC ever ask the applicant to provided bank statements older than 6 months? If so, then how old? A year?


- I've heard that CIC also accepts gift deeds from siblings/parents. What if the money has been transferred and have stayed in the primary applicant's account for more than 6 months. Do we still require gift deed?


- Can a personal loan taken about 6 - 8 months prior to the day we generate bank statements be shown as proof of funds?


- What if a person has been saving money from his personal business say, 4-5 lakh as cash and now he wants to show it as funds? How can he show such money as his PoF?


- I believe CIC can also accept Fixed Deposits as proof of funds. What if such cash amount or the loan amount be put in fixed deposit and made it stay there for more than 6 months? Could it be shown as PoF?

All IRCC want to see is your past 6 months transactions to be sure excessive amount of fund didn't go through your account without explanation.

Yes, gift deed is accepted but not loans. In a case the money has been in your account for more than 6 months, then no need to make up a gift deed and explain.

Showing personal cash saving as a PoF, you will need to explain with LOE but better still, you could pay the money in your parent's account and have it transferred to you and do a gift deed to avoid need suspicious thinking.

Loans are not accepted except you have your own way around it.

Hope this will help

 

[FMT]

Hi guys!
I am gathering all docs to finalize my application asap, since I got ITA on April 25.
Regarding proof of funds, I have 200,000 reais in my bank account, which is more than enough considering EE requirements.
Do I need to provide this information in CAD or BRL? In other words, which currency should I use?
Thanks in advance.

Any currency will be fine. If you leave it in your country's currency, it will still be converted to CAD to see if it meets up the total amount.

 

[deep143]

Hi all,
I'm planning to show my PF account balance as a part of my POF.
Is it accepted?
If yes, what documents should we provide??

Thanks in advance.

 

[Ifillcavities]

I have a PF which I opened in 2011. I can show that as POF as the clause to withdraw amount partially is after 7 years. But my spouse PF account was opened last year only. So it cannot be liquidated so should I show it or not.

 

[ash17]

I have a PF which I opened in 2011. I can show that as POF as the clause to withdraw amount partially is after 7 years. But my spouse PF account was opened last year only. So it cannot be liquidated so should I show it or not.

PF can be liquidated entirely for immigration purpose. It is mentioned on EPFO website itself.

 

[ash17]

Hi all,
I'm planning to show my PF account balance as a part of my POF.
Is it accepted?
If yes, what documents should we provide??

Thanks in advance.

Yes it is accepted. Here is a detailed thread - https://www.canadavisa.com/canada-immigration-discussion-board/threads/procedure-to-get-pf-balance-certificate-and-a-c-statement-from-pf-office-india.412640/

 

[Parmeet kaur67]

On the bank letterhead ,my bank wrote it like this is to certify that Parmeet kaur D/O Jagmohan singh is having these savings in her account ....Rest everything is mentioned like account open date,address,account no,the amount in total as fixed deposit n every detail about bank too...Someone told me that father's name shouldn't be written on letterhead .Kindly reply .I'm much worried as the bank gave me this letter after much struggle.Many are saying that it's normal if it's written..Any expert advise would be highly appreciated as I m really fearstricken at this point of time..
TIA

 

[kanu]

Hello guys,
I'm really confused on this gift deed which I need to show few of my funds from my father. Now I went to a lawyer and he told there are only 2 ways to do this.
1. Get a 100 rupee stamp paper and write appropriate content and he will use his notary stamp and stamp it.
2. schedule a visit to sub-registrar and get the gift deed registered just like a property transfer which will need need registration fees and physical presence for me and father to sign.

please suggest what should I do. Option 2 is too time consuming and expensive.
Thanks

 

[tanmaisneha]

Hi Guys,

My company would be paying me arnd 25k CAD once I resign from the current job (end of service benefit), can I show it as POF for express entry.
I would surely get the letter from the company stating that and other documents from the bank stating no loan is pending.

Thanks in advance for the reply.

Tanmai

 

[keeratsingh]

Hi Guys,

My company would be paying me arnd 25k CAD once I resign from the current job (end of service benefit), can I show it as POF for express entry.
I would surely get the letter from the company stating that and other documents from the bank stating no loan is pending.

Thanks in advance for the reply.

Tanmai

No....these kind of things are not acceptable...money has to be in your bank account or FD or Mutual Funds or EPF etc...

 

[tanmaisneha]

No....these kind of things are not acceptable...money has to be in your bank account or FD or Mutual Funds or EPF etc...

Thank you