Proof of Funds (Express Entry)

[Kyle90]

Thank you so much Asivad.
Generally, what could be the purpose of my remittance to the relative?
In addition to the gift deed, should I provide any other documentation - LOE or net worth certificate as per anujgupta84? Or the gift deed with the LOE would suffice?
Thank you again
Kyle

 

[Asivad Anac]

Thank you so much Asivad.
Generally, what could be the purpose of my remittance to the relative?
In addition to the gift deed, should I provide any other documentation - LOE or net worth certificate as per anujgupta84? Or the gift deed with the LOE would suffice?
Thank you again
Kyle

CIC wouldn't be interested in knowing purposes of remittance to the relative - it is your money and you are free to do whatever you want. Even a gift deed isn't mandatory, you can submit a signed self-declaration from the donor on plain paper as well.

 

[Kyle90]

CIC wouldn't be interested in knowing purposes of remittance to the relative - it is your money and you are free to do whatever you want. Even a gift deed isn't mandatory, you can submit a signed self-declaration from the donor on plain paper as well.

Thank you so much for the help Asivad
This is much appreciated! I'll keep you posted.
Kyle

 

[BreakingBad]

Good day folks, I am new to this thread.I just want to know if cic does accept the provident found as proof of funds.I do have enough money but I can only access it when I resign, but I can get a statement from the provident (pension )found that I have enough money. Thanks for your replies

Employee Provident Fund is Accepted as proof of Funds, for Indian Applicants, not sure about others.
EPF in india is managed by Government, and not the employers. It is as Valid as Bank FD.

Very Few Employers manage their employees PF in India,which are approved by Government Of India.

 

[rcharmed]

Hello Everyone,

I have two options for the settlement funds, first, I have a joint account with my mother, and we have a joint bank certificate, I can cancelled it and transfer the money to a) our joint account or to b) my individual savings account.
My mother also gave me a check as a gift, which I can transfer to my individual account, she could write an statement or gift deed regarding the amount of money she is giving me.

My questions will be, which of these two options should I use as settlement funds and what documentation should be presented.

Please help, I am so confused regarding this situation.

Thank you!

 

[Hsalaheldeen]

Hello everyone,
I'm to apply next week and I have a gift from parent as a direct transaction from my father's account to mine besides some money was gifted before as cash ( there are no evidence for it) , kindly assure me if the attached docs are enough or i need something else, I'll attach
(as directed by threads on this great forum) :
1- Bank statement ( includes the date of the transaction date and the date of the deposit of the cash money)
2- Transaction receipt from his bank.
3- his current balances (states that he gifted me only 1/5 of his current balance)
4- Notarized ( Authentic signed) self declaration from him that he gave me the money (both the transaction and the cash) including transaction numbers and dates
5- His passport copy showing his bio data and signature

One more question, the bank refused to include the opening dates of my accounts in the statement, although it was opened 10 years ago, would this be a problem ? and how to overcome ?

Thank you in advance

 

[BreakingBad]

Hi All,

My dad transferred 12000CAD to my account. Can I FD the amount for Six months and show the FD as POF or

Should I show the bank balance as POF. In this case I Will get very less interest, since the money will be there for a long time,till i get pr.

I know FD can be shown as POF. But can I show FD for 6 mon, which is five days old(possibly) for POF.

I am sending Docs for OONP, in a couple of days.

 

[leonht]

For those in Canada - I think it's a rather common case that banks don't provide letters exactly per CIC requirements. In this case, would bank statements for past 6 months and a letter which shows when account was opened suffice?

 

[Jamaican_Chinese]

When I applied in July, my check list said i just needed the letter from a bank listing all my accounts with their balances and any loans and the average balance over 6 months. If you have an average balance on your letter you don't need to send statements. It's only complicated if you had a big lump sum that makes your average several times lower than your current balance.

My bank only gave me a balance certificate (current balance and the date they opened my account, plus any loans) and told me to send 6 months worth of COMPOSITE statements ie a final balance for each of my accounts, but not necessarily a transaction history. My proof of funds was assessed and passed. They don't care about the transactions unless there is one for $12000 paid in by "loans4u".

I think people are over complicating things and causing themselves unnecessary angst.

To Snail and others:

Thanks for this info . 1) Can you say if a bank manager has to sign this letter? My client relation rep signed my letter.
2) My credit card and loan are from another bank so i have to provide a statement of all banks even though one bank covers the required funds?
3) I am an only child so i have my mother on every account ( her name is listed in the letter) as a partner/beneficiary in the event something happens to me she will be ok. It is all my money though, will she need to to submit a notarized letter stating that it is my money?

 

[docsood]

Query regarding proof of funds.

i am about to submit my application for Ontario PNP. I have 2 FD's issued in July and one in October, do I need to submit any letter of explanation that these were given to me by my husband?

 

[charan_yalala]

Hello All,

I have some questions for Proof of Funds for CIC
I have the money required for three people but it is not 6 months old
a) Can I convert the money into FD and get a gift deed from my mother or wife. If so how should I show the transaction. Shall i transfer the money to a third person and ask him to transfer to my mother's/Wife's account and they can give me a check which I will deposit and do the FD and get a gift Deed for it?
b) I have mutual funds for some part of money? Will CIC accept it?
c) For India, Employee Provident Fund is accepted as POF. Myself and Wife has both has Employee Provident Fund. Can you both show the Funds as POF?

 

[amandeep256]

Hello
i have que regarding POF
i read in some form that if we have unusual transitions in our statement it can be rejected
i have applied on 18 dec
although i dont need POF as i m in canada and i have LMIA job
but still i attached a letter from bank and my statement balance = approx 15000
in my statement i have a transition of 5000 which some one borrowed from me in april and he returned it in nov
will that be a problem

 

[StAnger]

Hello
i have que regarding POF
i read in some form that if we have unusual transitions in our statement it can be rejected
i have applied on 18 dec
although i dont need POF as i m in canada and i have LMIA job
but still i attached a letter from bank and my statement balance = approx 15000
in my statement i have a transition of 5000 which some one borrowed from me in april and he returned it in nov
will that be a problem

If you dont need to show funds, than dont worry about it.

 

[BreakingBad]

Hello All,

I have some questions for Proof of Funds for CIC
I have the money required for three people but it is not 6 months old
a) Can I convert the money into FD and get a gift deed from my mother or wife. If so how should I show the transaction. Shall i transfer the money to a third person and ask him to transfer to my mother's/Wife's account and they can give me a check which I will deposit and do the FD and get a gift Deed for it?
b) I have mutual funds for some part of money? Will CIC accept it?
c) For India, Employee Provident Fund is accepted as POF. Myself and Wife has both has Employee Provident Fund. Can you both show the Funds as POF?

Plz answer this. Can we FD the money transferred to our account as Gift.

 

[nekeol]

Query regarding proof of funds.

i am about to submit my application for Ontario PNP. I have 2 FD's issued in July and one in October, do I need to submit any letter of explanation that these were given to me by my husband?

No need because it is new application.