Proof of Funds (Express Entry)

[Gbemife]

Hello all. I intend getting my POF as a gift from both my sibling and uncle. Will that be an issue? Also what documents make up the gift deed?

Thank you

 

[KiranK]

Anyother option? Any jugar (legal)?

I think the only option is to get it as a gift from a blood relative, preferably parents, grand parents or real brother or sister.
Try if possible to not take money from a friend, an make only a single git deed. though legally its alright to attach 2 deeds, but it will definitely come of as that you have somehow just managed to get the amount from friends, and they may doubt that it could actually be a loan from a friend and not your own money.
Gift deeds from friends don't stand in a positive light much, so better not do that.

 

[KiranK]

Hello all. I intend getting my POF as a gift from both my sibling and uncle. Will that be an issue? Also what documents make up the gift deed?

Thank you

Better make a single deed if possible, ask your Uncle to give the amount to your sibling and the sibling can gift you the entire amount in one go.
You need is notary advocate, who will make your deed on a notarised legal paper, signature of donor and donee, 2 witness signatures, take the transaction details i.e check number etc, via which the money was transferred, it will be required.

 

[anwar01]

Dear Experts,

I am waiting for ITA with 410 CRS scores. I have one question regarding POF. I will be selling my car to fulfill the required funds as POF, I will attach car sale deed and cheque copy as a proof. Questions is I have a personnel loan with other bank (non-salary bank), Do I need to declare that loan and account too? provided that I have required funds in my salary account.

 

[sanju1]

they say that we need to provide details of our bank accounts, loans and credit card balances. I have a credit card balance which was overdue for few months and settled after receiving ITA but before submit the docs.Should I disclose about this credit card in my proof of funds. It is fully paid now. if i disclose only my savings accounts and FD, will that be enough? will they treat it as a misrepresentation?

 

[baka]

cic.gc.ca/english/immigrate/skilled/funds.asp

The above link states that all applicants need at least $12,000 to apply.



Where the hell did this rule come from? Why didn't they mention this when the rules came out months ago?

This is an outrage, how are people supposed to come up with that sort of money in 60 days?

Do we need to show the money when we apply for EE or after we get the ITA?

 

[baka]

my son is waiting with funds since 2014

 

[jackdawn]

Dear Experts,

I am waiting for ITA with 410 CRS scores. I have one question regarding POF. I will be selling my car to fulfill the required funds as POF, I will attach car sale deed and cheque copy as a proof. Questions is I have a personnel loan with other bank (non-salary bank), Do I need to declare that loan and account too? provided that I have required funds in my salary account.

Not required to declare, you can show the account where you have ur POF.
Good luck

 

[jackdawn]

they say that we need to provide details of our bank accounts, loans and credit card balances. I have a credit card balance which was overdue for few months and settled after receiving ITA but before submit the docs.Should I disclose about this credit card in my proof of funds. It is fully paid now. if i disclose only my savings accounts and FD, will that be enough? will they treat it as a misrepresentation?

You can only show the account where you have POF and that will be sufficient. You do not have to show you other account and loan details unless asked for

 

[sanju1]

Hi Jackdwan,

so if it is the case for him, I also do not need to disclose about the credit card balance which was due?

 

[sanju1]

thank you so much.
in case if they ask, do I need to disclose about this credit card as I have already paid it?

 

[jackdawn]

thank you so much.
in case if they ask, do I need to disclose about this credit card as I have already paid it?

See the point is CIC wants to know if u have enough money to manage for 6 months once u immigrate and hence ask for POF. They want 6 months bak statement to ensur ethat these funds are unencumbered. The general notion is your loans secured and unsecured are paid from ur future income.

More over if u have already paid then there is no issue at all

good luck

 

[Gbemife]

Better make a single deed if possible, ask your Uncle to give the amount to your sibling and the sibling can gift you the entire amount in one go.
You need is notary advocate, who will make your deed on a notarised legal paper, signature of donor and donee, 2 witness signatures, take the transaction details i.e check number etc, via which the money was transferred, it will be required.

Thank you for your quick response. My sibling is a Canadian citizen, hope that wont cause any doubts if I get the gift deed from him?

 

[KiranK]

Thank you for your quick response. My sibling is a Canadian citizen, hope that wont cause any doubts if I get the gift deed from him?

No, it will not be a problem at all. Just ask a notary advocate how to get the gift deed done from a person who is not currently in the country, he will guide you. All the best.

 

[sanju1]

Thank you so much and it is a great relief