Funds for EE

[Tocanadawego]

I am applying as a principal applicant and my husband will be a dependent. However, the bank account that holds our funds is in his name. Will that suffice?

I am not a citizen of a country we live in, therefore, I am not allowed by the bank to hold that particular account or even be placed as a joint account holder.

Any advice would be appreciated!

 

[Asivad Anac]

I am applying as a principal applicant and my husband will be a dependent. However, the bank account that holds our funds is in his name. Will that suffice?

I am not a citizen of a country we live in, therefore, I am not allowed by the bank to hold that particular account or even be placed as a joint account holder.

Any advice would be appreciated!

Unlikely and I would imagine No. CIC insists that POF be in the name of PA.

Purpose

To confirm whether the applicant meets the low income cut-off (LICO), as assessed by amount of money they hold compared to the number of people in their family

Document requirements

The applicant should provide official letter(s) from financial institution(s) which list all current bank and investment accounts, as well as outstanding debts such as credit cards and loans. The letter(s) must be printed on the letterhead of the financial institution and must include applicant’s name, the contact information of the financial institution (address, telephone number and e-mail address), the account numbers, dates of when each account was opened and the current balance of each account as well as the average balance in the past six months. Other documents may also be requested, as necessary.

Individuals who must submit this documentation

The principal applicant

 

[Tocanadawego]

Thanks for your reply!

This is really bad news. If I were to be added a joint account holder you think that would've made a difference?

 

[Asivad Anac]

Thanks for your reply!

This is really bad news. If I were to be added a joint account holder you think that would've made a difference?

Yes. A joint account with the PA's name on it would work.

Alternatively, can you move the funds to an account in your country of birth and into an account operated either singly by you or jointly by the two of you?

If possible, do that and then you can upload the bank certificate/statement along with a letter of explanation which will highlight the reasons behind the recency of the new account. Also, silly as it sounds, you'll have to get a self declaration written and signed by your spouse that this money has been extended as a gift to you and NOT a loan and that you don't have tor return it back to them because CIC insists that the funds be completely unencumbered.

Hope that helps. All the best!

 

[Tocanadawego]

That does make sense, and I wish it was only that easy!

We live in Nepal and rules for taking out foreign currency by foreigners are impossible. Sadly, I think we will have to go with a joint account route in Nepal and hope for the best.

Thanks for your help! I really appreciate it!

 

[I_love_van]

Unlikely and I would imagine No. CIC insists that POF be in the name of PA.

Purpose

To confirm whether the applicant meets the low income cut-off (LICO), as assessed by amount of money they hold compared to the number of people in their family

Document requirements

The applicant should provide official letter(s) from financial institution(s) which list all current bank and investment accounts, as well as outstanding debts such as credit cards and loans. The letter(s) must be printed on the letterhead of the financial institution and must include applicant's name, the contact information of the financial institution (address, telephone number and e-mail address), the account numbers, dates of when each account was opened and the current balance of each account as well as the average balance in the past six months. Other documents may also be requested, as necessary.

Individuals who must submit this documentation

The principal applicant

Hi Asivad,
Does CIC require all the bank account information under the applicant's name? I have account in my home country, and I transferred money from that account to my bank account in Canada. Do I have to provide the financial profile from my home country account?

Thank you!

 

[Asivad Anac]

Hi Asivad,
Does CIC require all the bank account information under the applicant's name? I have account in my home country, and I transferred money from that account to my bank account in Canada. Do I have to provide the financial profile from my home country account?

Thank you!

They don't need all your personal financial information. In your case, if the POF is in the Canadian account, just submit the documents as needed from that account. You can also include an LOE to explain the incoming credit from your home country account with fund transfer details so that there are no concerns about sources of funds.

 

[I_love_van]

Thank you Asivad for your timely reply and clarification.

 

[Syed Adnan Abbas]

I am applying as a principal applicant and my husband will be a dependent. However, the bank account that holds our funds is in his name. Will that suffice?

I am not a citizen of a country we live in, therefore, I am not allowed by the bank to hold that particular account or even be placed as a joint account holder.

Any advice would be appreciated!

 

[pinkyshah]

Can v show all d funds in form of fds..or do v need to show cash...also I would like to ask that if I m the main applicant and I show some fds in my account and some fds on d name of my hubby is DAT ok

 

[Asivad Anac]

CIC needs to be convinced that the POF is in the name of PA. You'll have to figure out a way of getting the funds in your name or in a joint account with your name on it - they cannot be in the name of just your spouse.

 

[Asivad Anac]

Can v show all d funds in form of fds..or do v need to show cash...also I would like to ask that if I m the main applicant and I show some fds in my account and some fds on d name of my hubby is DAT ok

You can show POF as FDs. All funds shown under POF have to be in bank accounts that have the Principal Applicant's name on it either as a sole account holder or joint account holder. Any bank account that doesn't have the PA's name on it cannot be used to show POF for the PA.

 

[pinkyshah]

any fd only in d name of spouse wont do?

 

[Asivad Anac]

any fd only in d name of spouse wont do?

Like I said before, No. Has to be in the PA's name.