Proof of Funds (Express Entry)

[gudekarnilesh]

I am planning for Canada Express entry visa with my wife as Primary Applicant & Me and my son as Dependent going with her
I have below question
1. Once my wife get PR visa can I apply for Job in Canada on her PR visa ?
2. I am going to show proof of fund for my wife in below manner . is this ok ?
a. Rs 1 Lakh from my wife ‘s Account
b. Rs 9 Lakh I will transfer to my wife’s account after she get ITA
I will provide signed self-declaration that this is a gift not a loan hence need not be returned to me
c. I will provide bank statement showing Rs 9 Laks is my saving from my Salary

 

[nikolain]

Hello Everyone,

I applied for Express Entry last night and i have 440 points, i should be getting a Notification of Interest from Ontario soon.

So i'm preparing my documents for OINP and OINP also says you should have $11,931 for single applicant.
Currently i'm in Toronto working on a Open Work Permit but i'm falling short of the $12k mark by $8k.
My father is going to send me that $8k via wire transfer to my Canadian Bank account.

Now how to prove this transaction is Legit to Ontario, i read in the forum something called "Gift Deed", can someone explain how it works ?

 

[leonht]

I have a question on the format of the balance letter.

I'm with RBC and the letter they issued me states "This letter is provided on the understanding that neither the writer nor Royal Bank of Canada shall be liable in the event its content is inaccurate or incomplete".

This is a standard statement, but would it raise any issues?

 

[nekeol]

I have a question on the format of the balance letter.

I'm with RBC and the letter they issued me states "This letter is provided on the understanding that neither the writer nor Royal Bank of Canada shall be liable in the event its content is inaccurate or incomplete".

This is a standard statement, but would it raise any issues?

this is standard for all bank statements

 

[nekeol]

Hello Everyone,

I applied for Express Entry last night and i have 440 points, i should be getting a Notification of Interest from Ontario soon.

So i'm preparing my documents for OINP and OINP also says you should have $11,931 for single applicant.
Currently i'm in Toronto working on a Open Work Permit but i'm falling short of the $12k mark by $8k.
My father is going to send me that $8k via wire transfer to my Canadian Bank account.

Now how to prove this transaction is Legit to Ontario, i read in the forum something called "Gift Deed", can someone explain how it works ?

u can apply with bank balance statement, this is not a big amount therefore no questions

 

[nekeol]

I am planning for Canada Express entry visa with my wife as Primary Applicant & Me and my son as Dependent going with her
I have below question
1. Once my wife get PR visa can I apply for Job in Canada on her PR visa ? UR WHOLE WILL BE ON PR , UR STATUS WILL SAME LIKE UR WIFE. YES U WILL HAVE SAME EQUAL RIGHTS FOR JOB
2. I am going to show proof of fund for my wife in below manner . is this ok ?
a. Rs 1 Lakh from my wife ‘s Account
b. Rs 9 Lakh I will transfer to my wife’s account after she get ITA
I will provide signed self-declaration that this is a gift not a loan hence need not be returned to me
c. I will provide bank statement showing Rs 9 Laks is my saving from my Salary
NO NEED TO TRANFER U CAN GIVE UR STATEMNET AND UR WIFE STATMENT, total must be more than required amount. Wife / husband r treated equal.

 

[nikolain]

u can apply with bank balance statement, this is not a big amount therefore no questions

Thank you

 

[Asivad Anac]

Hello Everyone,

I applied for Express Entry last night and i have 440 points, i should be getting a Notification of Interest from Ontario soon.

So i'm preparing my documents for OINP and OINP also says you should have $11,931 for single applicant.
Currently i'm in Toronto working on a Open Work Permit but i'm falling short of the $12k mark by $8k.
My father is going to send me that $8k via wire transfer to my Canadian Bank account.

Now how to prove this transaction is Legit to Ontario, i read in the forum something called "Gift Deed", can someone explain how it works ?

You will need a signed self declaration from your father on plain paper that explicitly states that this transfer of 8000 CAD is a gift not a loan hence need not be returned to them at any point in time. You must also include evidence of bank transfer.

 

[eski]

You will need a signed self declaration from your father on plain paper that explicitly states that this transfer of 8000 CAD is a gift not a loan hence need not be returned to them at any point in time. You must also include evidence of bank transfer.

Hi Asivad, Any sample for this declaration please?

 

[alex_dinou]

Hi Asivad, Any sample for this declaration please?

No standardized form here. Just make sure that the language in the declaration is very clear and non-ambiguous.

 

[lyprin]

Hey guys

Just a question from my side. Our country's currency has taken quite a knock and has knocked us below the required funds. We have been putting funds into our investment account and still have the required funds as of today but not when we submitted our application on the 6th of August 2015.

Just to put it into perspective. On the date of application we had $16 000 but due to exchange rate fluctuation that amount has dwindled to $14 500. With our current funds in our account we have $15 300.

Should I send in a CSE with the updated figures or just leave it as is?

 

[alex_dinou]

Hey guys

Just a question from my side. Our country's currency has taken quite a knock and has knocked us below the required funds. We have been putting funds into our investment account and still have the required funds as of today but not when we submitted our application on the 6th of August 2015.

Just to put it into perspective. On the date of application we had $16 000 but due to exchange rate fluctuation that amount has dwindled to $14 500. With our current funds in our account we have $15 300.

Should I send in a CSE with the updated figures or just leave it as is?

If the amount in POF is less than required amount on the date of submitting application, you could have problems. Generally, if on the date of submitting application you had equal to or more funds then required, currency fluctuations should not impact the decision. In your case, however, I would send an CSE along with LOE.

 

[lyprin]

If the amount in POF is less than required amount on the date of submitting application, you could have problems. Generally, if on the date of submitting application you had equal to or more funds then required, currency fluctuations should not impact the decision. In your case, however, I would send an CSE along with LOE.

Thanks for the advice. Yeah on the date of submission we had more than enough. In fact it was up until this week that we were above the threshold. Now with China weakening it's currency on purpose, it is having a massive impact on the South African Rand.

Anyone else care to weigh in on this? Should I go ahead and submit a CSE?

 

[eski]

No standardized form here. Just make sure that the language in the declaration is very clear and non-ambiguous.

Thanks a bunch.

 

[Kyle90]

You will need a signed self declaration from your father on plain paper that explicitly states that this transfer of 8000 CAD is a gift not a loan hence need not be returned to them at any point in time. You must also include evidence of bank transfer.

Hello Asivad and members
For evidence of bank transfer in the self declaration, would the applicant's bank statement suffice (showing the receipt of the funds)?
Thanks