Proof of Funds (Express Entry)

[Rav@1]

For FD as a proof of Funds, a six month FD will do or should it be for a longer period?

 

[Stanlee]

For FD as a proof of Funds, a six month FD will do or should it be for a longer period?

Six month one would do.

 

[aelhadidy]

if i have a cheque payable to me for the amount required, is this proof acceptable to CIC?

 

[beogradjanin1]

Hello, everyone! I just got 600 points from my nomination so I am expecting to get ITA next month. I am working in Canada and what I understood is that I do not have to provide proof of funds. However, just to be safe I will do that, my question is do I need to provide and a bank statement or just letter from my bank? Thanks!

 

[DelPiero07]

Hello, everyone! I just got 600 points from my nomination so I am expecting to get ITA next month. I am working in Canada and what I understood is that I do not have to provide proof of funds. However, just to be safe I will do that, my question is do I need to provide and a bank statement or just letter from my bank? Thanks!

Just provide the bank letter, the statements are not required.

Cheers

 

[beogradjanin1]

Just provide the bank letter, the statements are not required.

Cheers

Thanks a lot!

 

[Stanlee]

if i have a cheque payable to me for the amount required, is this proof acceptable to CIC?

No, not as POF for your PR application submission.

 

[hsinxh]

Why isn't your wife accompanying you?

My points reduce if I add her in my PR application.

 

[Tito G]

As long as you can explain the same with supporting documents, you are good to go.

Thank you Stanlee!

But what type of supporting documents would I use to back this up. The investments I made were with individuals/friends who needed an inflow of cash at that point in time or do you mean documents like agreements or maybe promissory notes?

Sorry, I am just trying to clarify. Thank you.

 

[Sluffy]

Stupid question, but
When submitted EE profile, I stated 13000 CAD as funds
This amount was automatically saved and transferred to application after I received ITA.
But if my bank statement will declare 14000 CAD (for example), should I amend those 13 000 CAD in my Application to the actual amount? Or just bigger sum is ok?
I don't feel very confident about doing it due to changing USD/CAD rate. Who knows will it be 1.3 or 1.0 in the next 6 months.

 

[istari]

Stupid question, but
When submitted EE profile, I stated 13000 CAD as funds
This amount was automatically saved and transferred to application after I received ITA.
But if my bank statement will declare 14000 CAD (for example), should I amend those 13 000 CAD in my Application to the actual amount? Or just bigger sum is ok?
I don't feel very confident about doing it due to changing USD/CAD rate. Who knows will it be 1.3 or 1.0 in the next 6 months.

The amount you declared in your EE profile is the minimum you will bring. Having more than that is fine.

 

[kryt0n]

My points reduce if I add her in my PR application.

So you're just leaving her in your home country??

MY points drop with my boyf on it but I'm not scamming the system by adding him later after I get PR.

What is wrong with you people?!?!?!

 

[hsinxh]

So you're just leaving her in your home country??

MY points drop with my boyf on it but I'm not scamming the system by adding him later after I get PR.

What is wrong with you people?!?!?!

How is this scamming if the system allows this? what is your point here?
And what makes you think that its easier to just add her later after I got PR? she has to go through all the procedures like I am doing right now.

 

[kryt0n]

How is this scamming if the system allows this? what is your point here?
And what makes you think that its easier to just add her later after I got PR? she has to go through all the procedures like I am doing right now.

But I don't understand.

You want to immigrate to Canada. You are married and 'in love' (don't want to be apart). You're happy to be accepted and move over there, then sponsor her (which can take 2 years) to bring her over? Plus when she gets there you're implying that she doesn't have the qualifications or language skills to help with your points score.
Maybe scam is the wrong word, but it certainly seems immoral. I'm sure a lot of the officers are looking at why so many people get PR without bringing their spouses. I wouldn't be surprised if the rules change and a person with PR has to wait 5 years before they can sponsor someone to come over.

 

[TicTocCroc]

I don't remember what exactly was asked but I probably said yes to having the funds because I thought that our house we own also counted.

I even just found a link stating it does on a form but I already read the form and everyone says it doesn't count unless you have a proof that you already sold it.

So, according to you, I should even get out of the pool then untill I have the liquid funds on my account and then re-enter the pool...

Underneath text from link, also from this form somewhere:

Real Estate: Money in property is probably the most widely used proof of funds. Many people plan to sell property owned in their home country before landing in Canada and will use the equity to establish themselves.

This is totally acceptable by CIC and they appreciate that you may not have actually sold the property at the point you are required to supply this information and make allowances for this.

You will be allowed to supply a mortgage statement from your lender stating how much money is owed on the property. You should then get your property valued by three independent companies. These can be real estate agents, property valuation companies, your mortgage lender etc. Make sure you get the valuation on letter headed paper and signed.

If you send both the mortgage details and the valuations the CIC can see how much equity you have available.

I asked in January 2016 if equity tied up in my house was acceptable, and was told no. It has to be 'liquid', readily accessible and in a currency easily converted to CAD.