Proof of Funds (Express Entry)

[shibdutta]

Hi Experts,

As mentioned above, accompanying spouse doesn't need to submit IELTS reports ?? Only IELTS report from Principal Applicant is required ??
Please clarify.
Thanks in advance,

no, not required (means not mandatory). but it will add some points if you have ur spouse's IELTS.

 

[canadianrrk]

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?

hi,

I have 12k CAD(Rs 5.5laks) in fixed deposit since last 5 months, my average bank balance since last 6 months is Rs3.3 laks( CAD 6k).....will this be enough ......long back money was deposited by my dad, will they need gift deed and all as my salary is just 20k INR.

please answer and help me, thanq very much in advance.

cheers,
Canadianrrk.

 

[Stanlee]

hi,

I have 12k CAD(Rs 5.5laks) in fixed deposit since last 5 months, my average bank balance since last 6 months is Rs3.3 laks( CAD 6k).....will this be enough ......long back money was deposited by my dad, will they need gift deed and all as my salary is just 20k INR.

please answer and help me, thanq very much in advance.

cheers,
Canadianrrk.

If the sum of money deposited by your dad was in the last six months, you will need to explain the inflow of money into your account when you submit your 6 months bank statement. To be on the safer side, get a Gift Deed for the same. For Gift Deed, you can refer to this link http://www.canadavisa.com/canada-immigration-discussion-board/gift-money-declaration-from-father-to-son-outline-t347593.0.html

 

[yeokyungjin]

Hi,

What if I got the money as a bonus from my current job? Do I still need to explain how I got the money? Or just bank statement is okay?

 

[PurpleStar]

Hi,

What if I got the money as a bonus from my current job? Do I still need to explain how I got the money? Or just bank statement is okay?

It's best to still submit a letter to explain and attach your pay stub or equivalent doc as proof that it was your bonus from the company.

 

[Stanlee]

Hi,

What if I got the money as a bonus from my current job? Do I still need to explain how I got the money? Or just bank statement is okay?

Submit appraisal letter/bonus letter along with a Letter of Explanation.

 

[DW]

Hi,

What if I got the money as a bonus from my current job? Do I still need to explain how I got the money? Or just bank statement is okay?

Your bank statement will show the details of money deposited in your account, whether it is your salary or bonus along with your employer's name.
So I don't think there will be any issue, but LOE also won't harm.

 

[Mandeep26]

Hi,

Can i show tax saving investments(5 yearly) in form of NSC and FD's as a proof of funds ?

 

[Phaphy5]

hello guys, i was requested to submit additional information on proof of fund which i already did. i was given 30Days. i want to find out like how many days will it take to get my ppr as it was stated in the letter sent to me that the application process is completed

 

[alee667]

hello guys, i was requested to submit additional information on proof of fund which i already did. i was given 30Days. i want to find out like how many days will it take to get my ppr as it was stated in the letter sent to me that the application process is completed

Can you please explain a bit detail? like e-APR date, Background check date and was there any issue with your bank statements?

 

[nekeol]

hello guys, i was requested to submit additional information on proof of fund which i already did. i was given 30Days. i want to find out like how many days will it take to get my ppr as it was stated in the letter sent to me that the application process is completed

IT MEANS VERY SOON IN THIS MONTH EVEN

 

[DW]

Experts, I have a question.

When we arrive at the port of entry, we have to show proof of funds to the officer from CBSA.
Do I need to show the proof of entire amount that I have mentioned in the application?
For eg. if I have shown $12k, then do I need to show proof of entire amount?

 

[shibdutta]

Experts, I have a question.

When we arrive at the port of entry, we have to show proof of funds to the officer from CBSA.
Do I need to show the proof of entire amount that I have mentioned in the application?
For eg. if I have shown $12k, then do I need to show proof of entire amount?

You can carry some amount, and rest you can keep in your home country Bank account. and take a recent bank statement, and if possible go to bank and ask for a Bank certificate mentioning the amount in your local currency and equivalent CAD.

this is what I understood from other posts.

 

[Marquise2016]

Hi Asivad and guys,

Could you please advise if this way of POF will work for me:
I have recently received ITA and need POF. I live in Ukraine with very unstable banking system where people usually save money in cash, not in banks. Anyway, I though I could open an account for around 12k CAD (i'm single applicant) and explain the situation in LOE. I plan to get letter from the bank with my deposit info. But I do not need to do the "average 6 month" thing, right?
Also, do I need to get my transactions for 6 month? As it will actually be only 1 big transaction this month (i plan to submit application in Apr)

I was also thinking to provide CIC with the transactions for 6 month & 6 month average from my salary account (it is in a different bank) which will show that with such salary I could save 12k CAD in few years (which in reality i did).

Do you think that would be enough?
Maybe you have some advise on how to make it more clear for CIC?

Thanks in advance

 

[Stanlee]

Hi Asivad and guys,

Could you please advise if this way of POF will work for me:
I have recently received ITA and need POF. I live in Ukraine with very unstable banking system where people usually save money in cash, not in banks. Anyway, I though I could open an account for around 12k CAD (i'm single applicant) and explain the situation in LOE. I plan to get letter from the bank with my deposit info. But I do not need to do the "average 6 month" thing, right?
Also, do I need to get my transactions for 6 month? As it will actually be only 1 big transaction this month (i plan to submit application in Apr)

I was also thinking to provide CIC with the transactions for 6 month & 6 month average from my salary account (it is in a different bank) which will show that with such salary I could save 12k CAD in few years (which in reality i did).

Do you think that would be enough?
Maybe you have some advise on how to make it more clear for CIC?

Thanks in advance

As long as you can prove that the funds that you deposited/plan to deposit in the bank account belongs to you and it is not a loan/borrowed, you should be good. Yes, it would be good to substantiate your situation with a Letter of Explanation. Also submit 6 month statements of your salary account along with a letter from the bank which states 6 months and 6 months average details.