Help regarding proof of funds

[jaguarfree]

Hi,
I am planning to apply for express entry on 30th June and I am getting 391 points.
Right now I have 0 funds in my account but I am planning to take loan and some help from my relatives for getting funds.
Could someone please help me how I should maintain my account using this loan and help from relatives. How should I manage to put $18,500 from 1st month??
Suppose I start maintaining $18,600 from June then Nov will be the 6th month ???
so what should I do as I am having 391 points??? should I apply for express entry on 30th June??? and what if there is a draw of 391 before Sept or Aug???
Please help me what should I do and let me know how should I maintain $18,600 from 1st month.

 

[MedZed]

Hi,
I am planning to apply for express entry on 30th June and I am getting 391 points.
Right now I have 0 funds in my account but I am planning to take loan and some help from my relatives for getting funds.
Could someone please help me how I should maintain my account using this loan and help from relatives. How should I manage to put $18,500 from 1st month??
Suppose I start maintaining $18,600 from June then Nov will be the 6th month ???
so what should I do as I am having 391 points??? should I apply for express entry on 30th June??? and what if there is a draw of 391 before Sept or Aug???
Please help me what should I do and let me know how should I maintain $18,600 from 1st month.

As dan_and said, the money has to be yours , not borrowed!
Then you can put it in your bank account and apply for EE. After getting ITA you have to upload the 6-months transactions history of your bank account along with the other documents. If they want additional document for funds,you should be able to provide an evidence about the source of your money.(You must prove if money is yours)
If the cutoff score drops to 390 before you apply , you have the chance of being selected in the next draw.(As long as the cutoff score is lower than your score!)

Hope these help.

 

[jaguarfree]

As dan_and said, the money has to be yours , not borrowed!
Then you can put it in your bank account and apply for EE. After getting ITA you have to upload the 6-months transactions history of your bank account along with the other documents. If they want additional document for funds,you should be able to provide an evidence about the source of your money.(You must prove if money is yours)
If the cutoff score drops to 390 before you apply , you have the chance of being selected in the next draw.(As long as the cutoff score is lower than your score!)

Hope these help.

What if my father takes loan from his account and transfer the amount of $18,600 in my account?? and I don't remove or add any amount in my account for 6 months. will that work??
I am very much confused.

 

[scylla]

What if my father takes loan from his account and transfer the amount of $18,600 in my account?? and I don't remove or add any amount in my account for 6 months. will that work??
I am very much confused.

You will need this money to survive when you first arrived in Canada (assuming you are approved for PR). This isn't money you should expect you will be able to give back. If you don't actually have the funds - I would reconsider applying to immigrate.

 

[wifedoctor]

Can a proof of funds be a statement from my bank back home or is it exclusively from canadian banks?

 

[scylla]

Can a proof of funds be a statement from my bank back home or is it exclusively from canadian banks?

Yes - it can be a statement from your bank back home. No - it doesn't have to be from a Canadian bank.

 

[wifedoctor]

Yes - it can be a statement from your bank back home. No - it doesn't have to be from a Canadian bank.

Thank you!

 

[TRUENORTH_4M_C2C]

Hello there, Does anyone think it could be a good idea to transfer money from my father's account at the last minute or i should maintain it from now on? Will that be an issue?

 

[YamPower]

As the folks above said, it must be your own money. You can't transfer from someone else's account to yours or borrow the money. If CIC realises this (they have the means to do so) you can be barred from applying for PR for 5 years.

 

[TRUENORTH_4M_C2C]

If it is my fathers, then it is mine..right? If it's not then OMG..then i need to do something for that now..

 

[scylla]

If it is my fathers, then it is mine..right? If it's not then OMG..then i need to do something for that now..

No - your father's money is not yours. It's your father's.

 

[nabamb]

It worries me too. What if I submit through cash in bits and have all 12000 and also show my salary account which have a proof of getting amount on regular basis? Banning for 5 years if I cannot get it now how would I get it in next five years. Account can be in any currency right?

 

[dobes]

No - your father's money is not yours. It's your father's.

Hold on! If your father GIVES you the money (and a notarized statement to say it was a gift and not a loan) you should be fine! There really is no problem with people giving you money to meet the requirement. You just can't take a loan.

 

[TRUENORTH_4M_C2C]

ah great! that can be done..

 

[jaguarfree]

You will need this money to survive when you first arrived in Canada (assuming you are approved for PR). This isn't money you should expect you will be able to give back. If you don't actually have the funds - I would reconsider applying to immigrate.

It's not like I will not use money, I will surely use it to survive in Canada. I was saying father will be gifting me his money in my account and I will keep that money in my account for 6 months. As father gifted me his money that money will be mine and I will use that in future. Will that be enough??? Will that work??