Proof of Funds (Express Entry)

[ABC -Canada]

Hello folks,

Just a quick question..The requirement to maintain the account with the amount specified, does it have to be through out that period? or will it be ok, if the month end for the last 3 months show that amount?

It is hard to spare that amount and not touch it, however, I have been able to get the amount back to the requirement by month end..is that OK?

 

[vishalg]

Thanks a lot for the quick reply. Unfortunately, I don't think I can prove I lent money to my brother. It happened a long time ago and I gave money from the hand. Would even notarization not be enough?

get a gift deed then, easier for both of you.

 

[vishalg]

Hello folks,

Just a quick question..The requirement to maintain the account with the amount specified, does it have to be through out that period? or will it be ok, if the month end for the last 3 months show that amount?

It is hard to spare that amount and not touch it, however, I have been able to get the amount back to the requirement by month end..is that OK?

you have to show average funds for last 6 months. (Mandatory) The amount can be below equal or above the minimum required funds. The current balance at the time of submission should be above LICO. You should be able to prove that the funds in your account are yours only and any significant credits in your account within the last 6 months should be traceable.

 

[ashwani_pant]

Gift deed- who to get in touch with

Dear All,

Thank you for all the information regarding gift deed.
All i want to ask now is "since i don't have any guidance except this forum", in Mumbai India who should i get in touch with regarding preparation of this gift deed?

i mean if someone knows some specific lawyer or person who is into this documentation work, it would be great.

regards,
Ashwani

 

[vishalg]

Re: Gift deed- who to get in touch with

Dear All,

Thank you for all the information regarding gift deed.
All i want to ask now is "since i don't have any guidance except this forum", in Mumbai India who should i get in touch with regarding preparation of this gift deed?

i mean if someone knows some specific lawyer or person who is into this documentation work, it would be great.

regards,
Ashwani

There are a lot available, visit any notary, it is 10 min task. He will just print the matter on the stamp paper. In Maharashtra, minimum value ( stamp paper) is 100. Use that for gift deed.
Before he prints, read the soft copy for any spell checks and dates etc.

 

[ashwani_pant]

Re: Gift deed- who to get in touch with

There are a lot available, visit any notary, it is 10 min task. He will just print the matter on the stamp paper. In Maharashtra, minimum value ( stamp paper) is 100. Use that for gift deed.
Before he prints, read the soft copy for any spell checks and dates etc.

Thank you sooo much Boss

 

[ashwani_pant]

you have to show average funds for last 6 months. (Mandatory) The amount can be below equal or above the minimum required funds. The current balance at the time of submission should be above LICO. You should be able to prove that the funds in your account are yours only and any significant credits in your account within the last 6 months should be traceable.

My account has more that minimum required amount which was gifted by my father (gift deed done). But, every month an EMI for a loan that i took for my family gets deducted from my account.
This does not affect the minimum balance though because my salary gets credited every month end.

How is this gonna affect my prospects?

regards,
Ashwani

 

[kaushalyap]

My account has more that minimum required amount which was gifted by my father (gift deed done). But, every month an EMI for a loan that i took for my family gets deducted from my account.
This does not affect the minimum balance though because my salary gets credited every month end.

How is this gonna affect my prospects?

regards,
Ashwani

I've got the same quiz. Also you did a gift deed of an affidavit?

 

[mhbin]

get a gift deed then, easier for both of you.

Thank you.

 

[vishalg]

My account has more that minimum required amount which was gifted by my father (gift deed done). But, every month an EMI for a loan that i took for my family gets deducted from my account.
This does not affect the minimum balance though because my salary gets credited every month end.

How is this gonna affect my prospects?

regards,
Ashwani

if it doesn't impact your LICO, there is no problem. All loans for home, car, consumer durables do not impact your POF.

 

[app4ee]

Hello friends,
I received ITA on April 12th
In my checklist for proof of funds it is shown that we have to submit bank records with date and time for last six months
along with date of account opening but, in my case I've opened the bank account last month and added the sufficient balance
few days back. My question is that I am having a month old account and will it be accepted or not with only money added few days back.
Please help me regarding this, appreciate your valuable replies.

 

[DelPiero07]

Hello friends,
I received ITA on April 12th
In my checklist for proof of funds it is shown that we have to submit bank records with date and time for last six months
along with date of account opening but, in my case I've opened the bank account last month and added the sufficient balance
few days back. My question is that I am having a month old account and will it be accepted or not with only money added few days back.
Please help me regarding this, appreciate your valuable replies.

It won't be accepted if you cannot prove where this money is coming from.

 

[app4ee]

It won't be accepted if you cannot prove where this money is coming from.

It was savings from my salary of last 3 years which were not in any account.
Can I show it as a gift deed from my father?
Or do you have any suggestions on how to show my personal savings??

 

[akashbhalla89]

Hi Everyone,

I have got couple of doubts :-

I have received ITA and filling it out now

1. Regarding proof of funds - can i get gift deed from two different people ?

2. I am a student in canada already do i still need to show 12000 dollars ?

3. I will be getting married in oct and i want to add my spouse too but i believe that would be too late as by that time i will get my PR so what would be the best time to go back to INDIA and do legal mariage so as to add her.

Thanks

 

[aarchitj]

Yes, it would work. Attach few salary slips and an LOE to support this.

Thanks !