Proof of Funds (Express Entry)

[Stanlee]

Hi all
We have gathered proof of funds across our accounts and it is more than the minimum required. we require to show approx. 15000 and we have around 25000.
Now my question is this -
We have other financial commitments which will mean that we plan to set aside only 17000 for moving to Canada. So while filling the form should the amount entered in the funds column be equal to the proof or equal to the amount we plan to take to Canada?

Since you already have proof of funds for over and above the requirement for your family, there is nothing wrong in mentioning CAD 25,000. If you want to be on the safer side, you can mention CAD 17,000, but it does not matter to CIC as long as you meet the minimum requirement.

 

[vks123]

Hi all
We have gathered proof of funds across our accounts and it is more than the minimum required. we require to show approx. 15000 and we have around 25000.
Now my question is this -
We have other financial commitments which will mean that we plan to set aside only 17000 for moving to Canada. So while filling the form should the amount entered in the funds column be equal to the proof or equal to the amount we plan to take to Canada?

You can enter 17000, what you are planning to take.
Maintain this throughout the process.

 

[jetplane]

You can enter 17000, what you are planning to take.
Maintain this throughout the process.

Cool! thanks

 

[Susheem]

Hi...
POF from wife and husband individual accounts without NOC will work?

 

[Stanlee]

Hi...
POF from wife and husband individual accounts without NOC will work?

You need to submit a Self Declaration from your wife stating that she is a co-applicant in your PR application and the amount in her account shown as part of POF are to be used for migration purposes and she has no objection for the same.

 

[Darko986]

Guys I need some advise on my case.

1. At the time when i will be submitting application to CIC, my funds of $15000 will be old about 5 months and 20 days. I got this funds from my mother for the purpose of immigrating to Canada and maintained throughout the whole process. Should I go with just a bank letter and six months balance or get a gift deed and proving the origin of the money?
2. In my other bank account I have a bank loan which I need to pay it for two more years. Could this be a problem for CIC and do I have to show this account as well?

If anybody have similar experience I appreciate your help

 

[Stanlee]

Guys I need some advise on my case.

1. At the time when i will be submitting application to CIC, my funds of $15000 will be old about 5 months and 20 days. I got this funds from my mother for the purpose of immigrating to Canada and maintained throughout the whole process. Should I go with just a bank letter and six months balance or get a gift deed and proving the origin of the money?
2. In my other bank account I have a bank loan which I need to pay it for two more years. Could this be a problem for CIC and do I have to show this account as well?

If anybody have similar experience I appreciate your help

1. Submit the following for the first account
- Gift Deed
- Balance Certificate on bank letterhead
- Last 6 months' bank statements stamped by the bank
- Letter of Explanation for the gift money

2. If the fisrt account helps you meet the fund requirement, you need not show the second account details.

 

[anirudhap]

You need to submit a Self Declaration from your wife stating that she is a co-applicant in your PR application and the amount in her account shown as part of POF are to be used for migration purposes and she has no objection for the same.

hey Stanlee...any format for self declaration you came across...share if available?

 

[anirudhap]

1. Submit the following for the first account
- Gift Deed
- Balance Certificate on bank letterhead
- Last 6 months' bank statements stamped by the bank
- Letter of Explanation for the gift money

2. If the fisrt account helps you meet the fund requirement, you need not show the second account details.

if we are providing a gift deed....then why we need letter of explanation?

 

[redlar]

HI everyone
I am actually facing a problem regarding this proof of funds (I don't have enough money on my accounts). However, I have a departure package with the company that I work for. My boss is ready to give me a paper confirming that if I leave the company, I will get a great package (3 times the minimum required).
Do you think that it's enough as proof of Funds?

Thanks in advance for your answers

 

[TomasX90]

HI everyone
I am actually facing a problem regarding this proof of funds (I don't have enough money on my accounts). However, I have a departure package with the company that I work for. My boss is ready to give me a paper confirming that if I leave the company, I will get a great package (3 times the minimum required).
Do you think that it's enough as proof of Funds?

Thanks in advance for your answers

I guess it depends on visa officer. But I'd be better if you left and got the money first.

 

[RG_Ind]

Is it necessary to keep the amount of money in the account exactly same throughout the process?

 

[vks123]

Is it necessary to keep the amount of money in the account exactly same throughout the process?

Yes, if it is SINP, don't take any chance.They are very strict on fund.
Others category,I don't know.I have seen cases where they have asked for statement at the verge of PPR release.
I would suggest keep it safely till PPR.

 

[TomasX90]

Is it necessary to keep the amount of money in the account exactly same throughout the process?

It doesn't need to be the same but should not be less.

 

[Skvach]

Guys, I have doubts regarding my PoF.

I kept my PoF in cash, it was a gift from my mother. Gift deed was signed October 2015

I opened a FD 2 weeks ago, deposited the cash the same day and got a bank statement the same day.

So now I have:
- Gift Deed (Oct 2015)
- Balance Certificate on bank letterhead (10 Aug 2016)
- Bank statement stamped by the bank (balance from 10 Aug 2016 to 10 Aug 2016)
- Letter of Explanation for the gift money

My bank statement does not show oppening date
but I can explain it in a LOE that is a new FD.

What do you think?
I'm worried about the date of my gift deed and the absence of oppening date on the bank statement.

OINP seems to be sutisfied with this PoF, but I am not sure about CIC :-[