Proof of Funds (Express Entry)

[Judsywudsy]

GIft deed is kind of affidavit by giver stating that it is given to you as a gift and he doesn't expect this to be returned. It is to prove to CIC that it's not a loan.

is there a generic form for this? i am unable to find it.

 

[flashlight]

Hello everyone, I have asked this before but got mixed answers, would appreciate any new opinion.

Here is the deal, I am full-time student in Canada, not working, only studying, so no Income for me.

I have for the last 6 month about 20K in total in two different accounts (in Canada and back home), with monthly balance ranging from 19-22K. (22 is not the last month.)
My parent have deposited about 3K (USD) into my account back home in October, then in November I have transferred the amount to my Canadian account, and spent it on tuition. the money are not there any more, except for the 20 K I mentioned,

I am the PA, my husband is applying as dependent with me, he has about 5K each month balance during last 6 months.

The question is, Do I need to provide a gift deed for those 3K USD that my parents have transferred into my account in October?

Pls help

 

[Dzwony]

The problem with this is that there are two views on this forum.

One is that you can only have a joint account with your spouse.

The other that it's fine to have a joint account with a family member and a NOC (No objection certificate) is sufficient to claim that money as yours.

Up to you to decide the right approach.

Thanks, you're right, I've encountered so many posts with differing views. Let's hope for the best!

 

[anwar01]

Dear Experts,

I will be selling my Car to show required POF. As funds will be transferred recently, I have to write LOE. Please guide me which documents I need to upload to support this car sale? Here in UAE we only have one card as a proof which shows car ownership. Only this card before & after sale of same car with different owners, will be enough?

Note: This card shows all the details of car with owner details.

 

[kamy]

Dear Experts,

I will be selling my Car to show required POF. As funds will be transferred recently, I have to write LOE. Please guide me which documents I need to upload to support this car sale? Here in UAE we only have one card as a proof which shows car ownership. Only this card before & after sale of same car with different owners, will be enough?

Note: This card shows all the details of car with owner details.

When a sale is done, you get a sale deed executed between new and original owner. You should show sale deed of the same amount.

 

[bestofluck]

When a sale is done, you get a sale deed executed between new and original owner. You should show sale deed of the same amount.

Also the ownership paper showing it was in possession since more then 6 months, so purchase papers also

if I purchase a car in cash and then sale it off next day and show sale deed, is not valid.

 

[anwar01]

When a sale is done, you get a sale deed executed between new and original owner. You should show sale deed of the same amount.

Thanks for your input. I am sure such sale deed would be there, I am not aware of it right now. I will check it in details.

 

[anwar01]

Also the ownership paper showing it was in possession since more then 6 months, so purchase papers also

if I purchase a car in cash and then sale it off next day and show sale deed, is not valid.

Yes I have this car with me Since 3 years. Thanks for your comments.

 

[cavemen]

I am attaching my spouses bank account statement for POF do I need to also include any loans that are under his name including any of his credit card details?

 

[neoagain]

Hello

Need guidance from the experts please. I received a mail from IRCC and here's what it says:
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Dear Candidate,

This is to notify you that the requirements for proof of settlement funds has changed for 2017.

Settlement funds are only required for certain candidates depending on the program(s) you qualify for.

*Please check the Express Entry Proof of Funds webpage on the IRCC website to make sure that you have enough funds to be eligible to immigrate to Canada.

You may have to update your Express Entry profile to prove you have the required funds. If you do not have sufficient funds, your profile will be removed from the Express Entry pool.

Please review the changes and update your Express Entry profile if these changes affect you.

Thank you,
Immigration, Refugees and Citizenship Canada
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

Now my queries are:

1. Where do I provide details of funds available? I don't remember seeing any place for entering POF details while submitting my EE
2. Is my PF balance statement accepted as a Proof of Fund?

Please guide...

 

[DelPiero07]

Hello

Need guidance from the experts please. I received a mail from IRCC and here's what it says:
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Dear Candidate,

This is to notify you that the requirements for proof of settlement funds has changed for 2017.

Settlement funds are only required for certain candidates depending on the program(s) you qualify for.

*Please check the Express Entry Proof of Funds webpage on the IRCC website to make sure that you have enough funds to be eligible to immigrate to Canada.

You may have to update your Express Entry profile to prove you have the required funds. If you do not have sufficient funds, your profile will be removed from the Express Entry pool.

Please review the changes and update your Express Entry profile if these changes affect you.

Thank you,
Immigration, Refugees and Citizenship Canada
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

Now my queries are:

1. Where do I provide details of funds available? I don't remember seeing any place for entering POF details while submitting my EE
2. Is my PF balance statement accepted as a Proof of Fund?

Please guide...

1 - The questions regarding how much money you'll bring to Canada.
2 - PF is accepted but you should ask someone from India who has used it successfully.

 

[logan_wins]

1 - The questions regarding how much money you'll bring to Canada.
2 - PF is accepted but you should ask someone from India who has used it successfully.

Hey DelPiero
I sent you a PM about a pof question. Please let me know.
Thanks

 

[varun2810]

Hi Seniors,
I am gathering documents for about my POF and want some advise/clarification.

1) I have gotten my PF statement notarized and also got the following letter from my employer -
This is to certify that Mr XXX is an employee of XXXX. the total value of the Provident Fund for Mr XXXX as on XX/XX/XXXX is Rs XXXXX. The PF amount can be withdrawn anytime by Mr XXXX after resigning from the company. This certificate is being issued to apply for Canadian PR.

Will the above two things suffice or anything else would be required?

2) Also I am planning on showing some Fixed Deposit as POF (The FD are more than 7-8 months old), so in that case also should I ask my Bank to mention the average monthly balance for the past six months or upload the statements (because the balance in my Savings accounts is on the lower side like Rs 20-30K)?

Kindly guide.

 

[cavemen]

Hi Seniors,
I am gathering documents for about my POF and want some advise/clarification.

1) I have gotten my PF statement notarized and also got the following letter from my employer -
This is to certify that Mr XXX is an employee of XXXX. the total value of the Provident Fund for Mr XXXX as on XX/XX/XXXX is Rs XXXXX. The PF amount can be withdrawn anytime by Mr XXXX after resigning from the company. This certificate is being issued to apply for Canadian PR.

Will the above two things suffice or anything else would be required?

2) Also I am planning on showing some Fixed Deposit as POF (The FD are more than 7-8 months old), so in that case also should I ask my Bank to mention the average monthly balance for the past six months or upload the statements (because the balance in my Savings accounts is on the lower side like Rs 20-30K)?

Kindly guide.

I may be able to help you with the second part...

Average balance is nothing but to prove that you don't have any inflation in your bank account. Even if there is an inflation in the amount and if the funds belong to you and if you can prove its trail then you have nothing to worry. I am sure the visa office understands that no one parks that kind of funds in your bank account.

To be honest even I have liquidated my savings in stocks after receiving an ITA and will be providing a LOE along with documentation of the money trail.

Cheers

 

[ryf]

Does Proof of Funds need to take "credit card" and "car loan" into consideration? I mean, does the proof from the bank has to minus these liabilities?