Proof of Funds (Express Entry)

[sugandh2k2]

Hi,

How much funds are required to be shown while entering Canada to border officer, if me and my wife have received the PR invitation but i am travelling alone for few days just to complete the formalities and get my PR card. Later we plan to shift permanently.

There is an FD of approx 8500 CAD which i took a lien on , i am planning to clear that lien and carry that FD to show as proof of funds. would that be sufficient?

Kindly advice.

Thanks

 

[cavemen]

Hi

I have a query regarding proof of funds. We as a couple are applying for our PR and have already received an ITA. I will be getting a 6 month average statement from my bank. However I have these following doubts which I hope seniors on this forum could help clear.

1 My average monthly balance in my bank account is low, after receiving my ITA I have diluted some of my investments in stocks which I have saved for immigration purpose, my average monthly balance will be low since I have not maintained the necessary average. but I have sufficient funds to show which includes my savings from the liquidated stocks investments. Should I attach my 6 months bank statement and my statement from my stock broker which shows the dilution of the stocks ? How can I get a statement from the stock broker stating its valuation in CAD or should I ask the bank in which the money was deposited to provide the value of the deposit in CAD ?
2 My husband who is a co applicant will be also contributing to the application. His investments too are in the form of stocks which he is going to liquidate . He will be providing a letter which states that he is also applying with me and these funds are at my disposal for immigration purpose. Do we need to attach his 6 months average, 6 months statement, credit card details and loan accounts or do we just attach that months statement where he liquidated the stocks and its value in CAD along with the statement from the stock broker showing the transaction.
3 Does he need to transfer this amount in our joint account or is it ok if it remains in his account.

It would be really helpful if I could find answers to my queries . Looking forward for a reply

Cheers

 

[deepu2595]

hi guys i have a question regarding proof of funds, as I'm eligible for cec and my score id 445 so i don't have a job offer now but i have a open work permit so do i need to show the funds.

 

[DelPiero07]

hi guys i have a question regarding proof of funds, as I'm eligible for cec and my score id 445 so i don't have a job offer now but i have a open work permit so do i need to show the funds.

No.

 

[deepu2595]

thank you very much

 

[cavemen]

Hi

I have a query regarding proof of funds. We as a couple are applying for our PR and have already received an ITA. I will be getting a 6 month average statement from my bank. However I have these following doubts which I hope seniors on this forum could help clear.

1 My average monthly balance in my bank account is low, after receiving my ITA I have diluted some of my investments in stocks which I have saved for immigration purpose, my average monthly balance will be low since I have not maintained the necessary average. but I have sufficient funds to show which includes my savings from the liquidated stocks investments. Should I attach my 6 months bank statement and my statement from my stock broker which shows the dilution of the stocks ? How can I get a statement from the stock broker stating its valuation in CAD or should I ask the bank in which the money was deposited to provide the value of the deposit in CAD ?
2 My husband who is a co applicant will be also contributing to the application. His investments too are in the form of stocks which he is going to liquidate . He will be providing a letter which states that he is also applying with me and these funds are at my disposal for immigration purpose. Do we need to attach his 6 months average, 6 months statement, credit card details and loan accounts or do we just attach that months statement where he liquidated the stocks and its value in CAD along with the statement from the stock broker showing the transaction.
3 Does he need to transfer this amount in our joint account or is it ok if it remains in his account.

It would be really helpful if I could find answers to my queries . Looking forward for a reply

Cheers

anyone who can help me out plz ?

 

[Almostther]

Guys,

Have a question, I was in Canada from Jan, 2014 to Feb , 2015. I got invitation under CEC and I know I am not required to show POF. but my question is that if I apply my application in March or say April, will I need to show POF? as I will not be CEC technically after this month(Februray).

I wanted to submit everything by Feb, but can not as I have a lot of things pending. Please advise.

 

[jackdawn]

Hi

I have a query regarding proof of funds. We as a couple are applying for our PR and have already received an ITA. I will be getting a 6 month average statement from my bank. However I have these following doubts which I hope seniors on this forum could help clear.

1 My average monthly balance in my bank account is low, after receiving my ITA I have diluted some of my investments in stocks which I have saved for immigration purpose, my average monthly balance will be low since I have not maintained the necessary average. but I have sufficient funds to show which includes my savings from the liquidated stocks investments. Should I attach my 6 months bank statement and my statement from my stock broker which shows the dilution of the stocks ? How can I get a statement from the stock broker stating its valuation in CAD or should I ask the bank in which the money was deposited to provide the value of the deposit in CAD ?
2 My husband who is a co applicant will be also contributing to the application. His investments too are in the form of stocks which he is going to liquidate . He will be providing a letter which states that he is also applying with me and these funds are at my disposal for immigration purpose. Do we need to attach his 6 months average, 6 months statement, credit card details and loan accounts or do we just attach that months statement where he liquidated the stocks and its value in CAD along with the statement from the stock broker showing the transaction.
3 Does he need to transfer this amount in our joint account or is it ok if it remains in his account.

It would be really helpful if I could find answers to my queries . Looking forward for a reply

Cheers

- Stocks are not accepted as proof of funds. When u liquidate them the sale proceeds will show up in ur respective accounts. U can write a LOE stating the funds are from sale proceeds of stocks and back it up with a brokers's statement
- It can remain in his account and like u have mentioned he should write a letter that he is a co-applicant in the PR process and has no objecting parting the funds for the purpose of POF

im not sure about the second query let some seniors answer that

 

[cavemen]

- Stocks are not accepted as proof of funds. When u liquidate them the sale proceeds will show up in ur respective accounts. U can write a LOE stating the funds are from sale proceeds of stocks and back it up with a brokers's statement
- It can remain in his account and like u have mentioned he should write a letter that he is a co-applicant in the PR process and has no objecting parting the funds for the purpose of POF

im not sure about the second query let some seniors answer that

Thank you for your help .. I hope some seniors can shed some light on my unique query

 

[DelPiero07]

If he's accompanying the funds can remain in his account but he still needs to provide proof of where the funds are coming fund and a bank letter. If the bank letter is not possible to obtain then bank statements.

 

[rupinder2k17]

Hi what are the requirements for proof of funds as on 16.02.2017??

 

[Stanlee]

Hi what are the requirements for proof of funds as on 16.02.2017??

http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

 

[beethoven5]

Hi Guys,
I understand that most people say that CIC requires a document illustrating that you've always had the minimum amount of founds in your bank account for the past 6 months (untouched).
On the other hand it's stated in the application page that you need to submit a document showing your balance for the same period of time (6 months) but nothing about having all the money untouched during these 6 months.
My question is: I haven't been able to find the link on CIC website mentioning the requirement of having the minimum founds during the entire 6 months period! does anyone have such a link?

 

[Stanlee]

Hi Guys,
I understand that most people say that CIC requires a document illustrating that you've always had the minimum amount of founds in your bank account for the past 6 months (untouched).
On the other hand it's stated in the application page that you need to submit a document showing your balance for the same period of time (6 months) but nothing about having all the money untouched during these 6 months.
My question is: I haven't been able to find the link on CIC website mentioning the requirement of having the minimum founds during the entire 6 months period! does anyone have such a link?

It is not mentioned anywhere that the funds should be parked for 6 months. Even if the funds have been in your account only for a month, as long as you can prove that the funds belongs to you and is not a loan, you are good to go.

 

[olipearce1987]

It is not mentioned anywhere that the funds should be parked for 6 months. Even if the funds have been in your account only for a month, as long as you can prove that the funds belongs to you and is not a loan, you are good to go.

you have to prove that you had had 6 months of funds over the amount you need, CIC say:

The applicant should provide an official letter(s) from one or more financial institutions that lists all current bank and investment accounts as well as outstanding debts, such as credit card debts and loans.

o The letter(s) must be printed on the letterhead of the financial institution and must include the applicant’s name, the contact information of the financial institution (address, telephone number and email address), the account numbers, the date each account was opened and the current balance of each account as well as the average balance for the past six months.