Proof of Funds (Express Entry)

[souvik sengupta]

hi need some Idea ... Like I have got a job offer and now employer initiated LMIA and if approved then later will process workpermit ... in this case also I need to show fund in my bank ?? if so then how much ??

 

[gaurav_s3384]

As a Proof of funds we need to show just bank statements for 6 months or financial letter on bank letter head is must ??

 

[FMT]

As a Proof of funds we need to show just bank statements for 6 months or financial letter on bank letter head is must ??

Both documents

 

[bimale4bipeople]

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

Hi, you can show it, as long as it is available within you bank account. Officer may inquire about the source of these funds, and the EoSB letter from your organization, will come in handy as a justification. maybe you wanna attach the EoSB letter along with the PoF.
25K EoSB shows you are a GCC resident

 

[moak091]

Does the proof of funds need to be on the same account? I am in Texas right now and save money in my Indian NRE account. Will its online statement be enough?

 

[bimale4bipeople]

Does the proof of funds need to be on the same account? I am in Texas right now and save money in my Indian NRE account. Will its online statement be enough?

It will be good if you show your Texas bank account statement (currrent) and also the NRE bank account statement (savings). You can prove you are receiving your payroll in one and on the other hand building up your savings on the other ones. Make sure you have enough funds available in total though
Not sure about the online statement(sply since your accounts are in TX and India right now). I submitted my statement that I receive by email through my Canadian bank

 

[tanmaisneha]

hi need some Idea ... Like I have got a job offer and now employer initiated LMIA and if approved then later will process workpermit ... in this case also I need to show fund in my bank ?? if so then how much ??

If you have LMIA, then you do not need to show PoF.

 

[bimale4bipeople]

If you have LMIA, then you do not need to show PoF.

I am not sure about if this applies to people with LMIA. I have a LMIA exemption.

You don’t require PoF if you are a CEC applicant (which I am). https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/become-candidate/eligibility/proof-funds.html

However I still showed the PoF so that case officer is rest assured that I am employed in the country and my payroll is being transferred without any gaps and there funds/account is in good standing

 

[tanmaisneha]

I am not sure about if this applies to people with LMIA. I have a LMIA exemption.

You don’t require PoF if you are a CEC applicant (which I am). https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/become-candidate/eligibility/proof-funds.html

However I still showed the PoF so that case officer is rest assured that I am employed in the country and my payroll is being transferred without any gaps and there funds/account is in good standing

As mentioned on the above link CEC candidate do not need to furnish PoF, and if you are FSW candidate with job offer or authorized to work in Canada then also you do not need PoF.

 

[bimale4bipeople]

As mentioned on the above link CEC candidate do not need to furnish PoF, and if you are FSW candidate with job offer or authorized to work in Canada then also you do not need PoF.

I think you are correct I followed this link on CIC site after you msg (credit to you for clarifying it) http://www.cic.gc.ca/english/helpcentre/answer.asp?qnum=1145&top=29

@souvik sengupta: Don’t be surprised if the case officer still asks you to furnish the PoF or bank statement at the time of processing the application. Whatever you have keep it ready.

 

[bimale4bipeople]

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

You can make this much money only in Dubai

 

[bimale4bipeople]

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

Before you move out please take 1-2 years signed and stamped bank statements from your bank.

 

[tanmaisneha]

Before you move out please take 1-2 years signed and stamped bank statements from your bank.

Any particular reason.

I read you were also in UAE before moving.

 

[bimale4bipeople]

Any particular reason.

I read you were also in UAE before moving.

Yes I was, e.g. if you transfer your entire saving down the road here say via a bank transfer or so, you maybe asked for showing the records etc(because of anti money laundering and other issues...) so the records help you to prove that these were your savings while you lived and worked out of Canada.

 

[tanmaisneha]

Yes I was, e.g. if you transfer your entire saving down the road here say via a bank transfer or so, you maybe asked for showing the records etc(because of anti money laundering and other issues...) so the records help you to prove that these were your savings while you lived and worked out of Canada.

It makes sense.
If it is ok with you can you send me your contact number so that if i have any query i can contact you directly.

Thank you in advance.
Tanmai