Proof of Funds (Express Entry)

[schoudhury]

For term deposits like FD, banks issue FD Receipts/FD Advice, you can submit those. Try to get it stamped by the bank.

Thanks!

 

[Riyaz1979]

Hi Stanlee
I work in UAE, here we are paid gratuity after we resign or retire from our job. The bank a/c average is 80% of required funds, if I add the accrued gratuity then I will have more than double the required PoF. If my company can certify this gratuity amount, can this be used as PoF.

 

[Stanlee]

Hi Stanlee
I work in UAE, here we are paid gratuity after we resign or retire from our job. The bank a/c average is 80% of required funds, if I add the accrued gratuity then I will have more than double the required PoF. If my company can certify this gratuity amount, can this be used as PoF.

As per the requirement, the funds should be unencumbered and readily transferable. Since gratuity is paid on resignation and the funds are transferred to the bank account, in my personal opinion, I think it can be considered as PoF. Yes, if an employer can certify the amount of gratuity that is due unto you as on date, then it should be good. It should basically show a statement with month on month accrual of the gratuity from the date of your joining and the letter should also state when you would be eligible to receive the amount.

Would suggest you to take a second opinion also on the same.

 

[rohitbites]

I received the completion of evaluation email from WES -

'This is to confirm that World Education Services (WES) has processed your order and shipped your evaluation report to your recipient(s).


1. Citizenship and Immigration Canada - FSWP
2. Ontario Immigrant Nominee Program, MCIIT'

I hope that's all is needed here. Plus I received an email regarding the over payment ($7.91). What do I do next?

 

[StAnger]

I received the completion of evaluation email from WES -

'This is to confirm that World Education Services (WES) has processed your order and shipped your evaluation report to your recipient(s).


1. Citizenship and Immigration Canada - FSWP
2. Ontario Immigrant Nominee Program, MCIIT'

I hope that's all is needed here. Plus I received an email regarding the over payment ($7.91). What do I do next?

You can see your evaluation online by logging into your wes account until you receive the hard copy. Use the wes number to create your profile.

 

[melmathews]

Hi, need some help from senior members of the forum. Would proof of investments in Government of India backed tax-free bonds like HUDCO, etc be counted as POF? These are traded and the funds can be withdrawn on demand. Any help on this would be sincerely appreciated..

 

[eagleworld]

I have no opened an account 3 months before i got ITA and my brother donated me required POF 1 WEEK before, is this enough ?if i give bank letter showing my balance and prove of gift that boost my account??
is it ok as POF

 

[Stanlee]

Hi, need some help from senior members of the forum. Would proof of investments in Government of India backed tax-free bonds like HUDCO, etc be counted as POF? These are traded and the funds can be withdrawn on demand. Any help on this would be sincerely appreciated..

If you can redeem the funds on demand, personally I feel you can use them as POF as long as it is mentioned on the bind certificate or you can show some fund statement or document which mentions that these funds can redeemed on demand.

 

[Stanlee]

I have no opened an account 3 months before i got ITA and my brother donated me required POF 1 WEEK before, is this enough ?if i give bank letter showing my balance and prove of gift that boost my account??
is it ok as POF

Yes, it should be fine provided you have the Gift Deed, your bank statements and your brother's bank statement to show the transfer. Also keep a Letter of Explanation explaining your case. Sometimes, the case officer could also ask for salary slips and the bank statement of the account in which the salary is credited. It would be advisable to submit those as well.

 

[JoacRy]

Hi, I don't know if this is a requirement for Gift Deeds, but I got my Deed witnessed by 2 independent third parties and notarized by a registered Notary Public.

I say get your Gift Deed notarized to be safe.

 

[anandrm]

Can money transferred from my parents account be show as a gift of deed to me and be shown later as POF for Express Entry ?
Can I sell of my gold and put that money in my bank account and show it as a POF ?

 

[Stanlee]

Can money transferred from my parents account be show as a gift of deed to me and be shown later as POF for Express Entry ?
Can I sell of my gold and put that money in my bank account and show it as a POF ?

Yes, funds transferred from parents can be shown as gift by executing a Gift Deed.

Yes, proceeds from sale of gold can be shown as POF provided you have necessary documents to support your claim.

 

[anandrm]

IF i have a fixed deposit in my bank can I send the receipt of the Fixed deposit as POF?

Do they call up the bank and check hat as well ?

Can my brother from USA send me money as Gift of Deed ?

 

[Stanlee]

IF i have a fixed deposit in my bank can I send the receipt of the Fixed deposit as POF? - Yes

Do they call up the bank and check hat as well ? - They won't. Banks will not divulge any customer's financial details to a third party/institution.

Can my brother from USA send me money as Gift of Deed ? - Yes, you will have to execute a Gift Deed for the money so received.

 

[henrygormane]

Hello all,

I intend using my salary account which currently has more than the minimum required amount ~ $26k as balance. This balance was recently achieved with the latest disbursement into my salary by my company and I intend to maintain it all through PR process. However, I'm worried because I also have a personal loan from the same bank which I repay monthly as can be seen in the statements.
Please what would you advise I submit for POF?

Thanks