Can Someone Help me to Clarify the Requirement of the Proof of Fund!

[sirdba]

Hi!

Can anyone help me for below situation?

I am planning to apply in June 2016 for express entry. As per the fund requirement given in the Canadian Immigration information webpage I am to show the proof of fund for about CD25,636.

(i) Do I need to have the amount available @ my back account available for at least for six months?

(ii) I have Provident Fund and gratuity fund from present job which is around CD10,000 which now available with the company but against my name and I can get as soon as I resign from the job . Can I show this amount?

(iii) Is it possible to show the combination of both the above to cover the said CD25,636

Looking forward to you expert feedback pls.

Thanks,

SI

 

[StAnger]

Hi!

Can anyone help me for below situation?

I am planning to apply in June 2016 for express entry. As per the fund requirement given in the Canadian Immigration information webpage I am to show the proof of fund for about CD25,636.

(i) Do I need to have the amount available @ my back account available for at least for six months?

(ii) I have Provident Fund and gratuity fund from present job which is around CD10,000 which now available with the company but against my name and I can get as soon as I resign from the job . Can I show this amount?

(iii) Is it possible to show the combination of both the above to cover the said CD25,636

Looking forward to you expert feedback pls.

Thanks,

SI

The simple rule is that the funds should not be a loan. As long as you can prove these are yours, you will be fine. Having funds for more than 6 months, is usually due to the fact that ircc asks for 6 months average balance to check for any large deposits which could be due to loans etc.

For ppf, if you can withdraw the entire amount and their is no lock in period, you can show it as pof. Make sure you have them at your disposal and not until you resign.

You can have as many combinations to meet the requirements.

 

[peterkc]

Hello,
I have a different case, i got an ITA in July 2015 and i submitted my application in October 2015 but i got married in recently. If i add my spouse to my application, how long would it take CIC to request my spouse to go for medicals?
No. 2, do i need to add some more money to my settlement funds in order since i am adding my spouse to my application? A consultant said i do not need to add any more money to my settlement funds since i am already working in Canada.
Guys, please what do you think?
Thanks

 

[Stanlee]

Hello,
I have a different case, i got an ITA in July 2015 and i submitted my application in October 2015 but i got married in recently. If i add my spouse to my application, how long would it take CIC to request my spouse to go for medicals?
No. 2, do i need to add some more money to my settlement funds in order since i am adding my spouse to my application? A consultant said i do not need to add any more money to my settlement funds since i am already working in Canada.
Guys, please what do you think?
Thanks

Regarding funds you are good. This is what the requirement says 'Unless you are currently authorized to work in Canada and have a valid job offer from an employer in Canada, or you have been invited to apply under the Canadian Experience Class, you must show that you have enough money to support yourself and your family after you get to Canada.' http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

 

[Shab1362]

I have a situation!
I have the ITA and applying for EE.
I have a full time job in Canada (no LMA) and a valid work permit (obviously!)
Do I still need to show proof of fund?

Please Help!

 

[AshesNdust]

I have a situation!
I have the ITA and applying for EE.
I have a full time job in Canada (no LMA) and a valid work permit (obviously!)
Do I still need to show proof of fund?

Please Help!

Yes, unless something changes in the rules. I had a valid LMIA and a fulltime permanent job and was still asked for PoF even though technically I shouldn't have been. The CIC will generate a document for you when you fill out your application after the ITA.
So, prepare to get the PoF letters and/or bank statements.

 

[Stanlee]

I have a situation!
I have the ITA and applying for EE.
I have a full time job in Canada (no LMA) and a valid work permit (obviously!)
Do I still need to show proof of fund?

Please Help!

Regarding funds you are good. This is what the requirement says 'Unless you are currently authorized to work in Canada and have a valid job offer from an employer in Canada, or you have been invited to apply under the Canadian Experience Class, you must show that you have enough money to support yourself and your family after you get to Canada.' http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

 

[Kumarp]

I have a situation!
I have the ITA and applying for EE.
I have a full time job in Canada (no LMA) and a valid work permit (obviously!)
Do I still need to show proof of fund?

Please Help!

If you were invited under Canadian Experience Class (CEC), have a full time, permanent job, then you don't need to provide any Proof of funds. When filling out the application, remember to enter the funds available as Zero.