Proof of Funds (Express Entry)

[Ktay]

Come on dude, do some research: http://www.cic.gc.ca/ENGLISH/helpcentre/answer.asp?qnum=1145&top=29

"The system currently asks all applicants to provide a proof of funds document. If you don’t need to provide proof of funds, you must upload a letter explaining either that you have been invited to apply under the Canadian Experience Class, or that you have a valid job offer."

Thanks again Delpiero, I just havent seen anywhere that we could enter 0 in the amount.
I just did and the required documents list isn't showing the POF anymore indeed

I just wanted to be sure before and can now upload my letter of explanation with the details of my Job.

You're great, thx again!!

 

[aditya127]

Hello guys,

I would really appreciate if someone can help me with the below query.
I've got COPR and would be landing by next week.
During my e-application I submitted gift deed documents to support POF. Do I need to carry/show these gift deeds with LOE once again, in case asked during landing.
I have maintained the balance with occasional debits/credits but the minimum account have been intact.

Do I need to show the updated version of same LOE and documents which I submitted with e-app or just the Bank letter showing minimum funds maintained for last 6 months be sufficient enough?

Regards,
Aditya

 

[choudhary_abhinav]

Guys I have a question regarding PoF

My average balance is 18000$ and current balance is 23000$ in total along with a 3000$ credit card debt.
Now, over the course of six months, I have added a lot of money transfers to my accounts in the form of cash. They show up on my statement as "Counter Credit", with no particular source. There have been deposits around the range of 9600$, 7200$, multiple around 5000$. This was all gifted by my dad, but the statement doesn't really show it due to it being a cash deposit. Do I need to get a gift certificate for those deposits?

Although i have lots of deposits, I have an equal high volume of spending, my accounts prove that I spend 5000$+ a month in the form of rent and credit card payment and equally showing me paying 12000$ paying off my car loan. Moreover, I stopped working here in the US in October due to work visa expiring and am staying here as a tourist for now, with my dad supporting me.

 

[DelPiero07]

Guys I have a question regarding PoF

My average balance is 18000$ and current balance is 23000$ in total along with a 3000$ credit card debt.
Now, over the course of six months, I have added a lot of money transfers to my accounts in the form of cash. They show up on my statement as "Counter Credit", with no particular source. There have been deposits around the range of 9600$, 7200$, multiple around 5000$. This was all gifted by my dad, but the statement doesn't really show it due to it being a cash deposit. Do I need to get a gift certificate for those deposits?

Although i have lots of deposits, I have an equal high volume of spending, my accounts prove that I spend 5000$+ a month in the form of rent and credit card payment and equally showing me paying 12000$ paying off my car loan. Moreover, I stopped working here in the US in October due to work visa expiring and am staying here as a tourist for now, with my dad supporting me.

Yes, you need gift deeds - you're talking about big lump sums that aren't related to your salary, this might raise red flags without a proper explanation.

 

[choudhary_abhinav]

Yes, you need gift deeds - you're talking about big lump sums that aren't related to your salary, this might raise red flags without a proper explanation.

All those transfers come from cash, how to I provide a proof of transfer in this particular case?

To sum it up, my dad is in India, transfers the money I need to transfer to an international atm account, from which i take that money out and transfer it into my account via cash.

 

[DelPiero07]

All those transfers come from cash, how to I provide a proof of transfer in this particular case?

To sum it up, my dad is in India, transfers the money I need to transfer to an international atm account, from which i take that money out and transfer it into my account via cash.

1 - You have to find a way to prove a way to do so unless (see below)

2 - IF your bank provides a letter following IRCC's requirements then provide such letter and avoid providing bank statements - this would prove sufficient as the average balance is significantly above the minimum required funds (assuming you're single).

 

[choudhary_abhinav]

1 - You have to find a way to prove a way to do so unless (see below)
My dad has proof for transfering money to a certain debit card and I can get those receipts. Would that suffice? Along with proof that I carry those cards.

2 - IF your bank provides a letter following IRCC's requirements then provide such letter and avoid providing bank statements - this would prove sufficient as the average balance is significantly above the minimum required funds (assuming you're single).
I'm single. The letter follows IRCC's requirements. The only thing lacking is it only shows last 4 digits of my account number. Is that sufficient?

Thanks you for your responses so far

 

[Rehan123]

Guys a very good news for Applicants of Singapore.........

Singapore Visa Office is accepting Central Provident Fund of Singapore....

One applicant got PPR last week by submitting only CPF as proof of Funds........

Cheers!!!!!!!!

 

[jackdawn]

1 - Funds must be liquid so yes, you would have to sell them. However, you do not have to keep them in your account for 6 months as long as you're able to show proof of the sale of your investments. You should look into the requirements for the provincial nominee program for which you're interested in as my advice is specific to CEC/FSW.

2 - No issue but if it is shown in your bank statements make sure you explain this liability.

Thanks DelPiero07, it was helpful

 

[kenyk]

I have a query on PoF. Can i show my spouse account as proof of funds. My spouse is in the application in EE


Regards,
Kenyk

 

[popolipo]

I have a query on PoF. Can i show my spouse account as proof of funds. My spouse is in the application in EE


Regards,
Kenyk

Proof of funds must be for main applicant even if your spouse is in your application as second applicant

 

[Stanlee]

I have a query on PoF. Can i show my spouse account as proof of funds. My spouse is in the application in EE


Regards,
Kenyk

Yes, you can. Get a self declaration from your spouse stating that he/she is a co-applicant in your PR application and the funds so held in his/her account are to be used for migration and settlement purposes and he/she has no objection for the same. You will have to get a letter from your spouse's bank in the format as required by CIC.

 

[reddyreddy]

Yes, you can. Get a self declaration from your spouse stating that he/she is a co-applicant in your PR application and the funds so held in his/her account are to be used for migration and settlement purposes and he/she has no objection for the same. You will have to get a letter from your spouse's bank in the format as required by CIC.

Thank you. What is the format for the spouse's bank account statement required by CIC?

 

[EmmaShazma83]

Guys a very good news for Applicants of Singapore.........

Singapore Visa Office is accepting Central Provident Fund of Singapore....

One applicant got PPR last week by submitting only CPF as proof of Funds........

Cheers!!!!!!!!

If this is true then Malaysian applicants should also be able to use our EPF as POF? But how are the funds being considered by CIC as liquid? Are Singaporeans able to withdraw as they wish from the Central Provident Fund?

 

[Stanlee]

Thank you. What is the format for the spouse's bank account statement required by CIC?

Check the section under POF on CIC site http://www.cic.gc.ca/english/resources/tools/perm/express/intake-complete.asp