Proof of Funds (Express Entry)

[Darshan019]

Thanks Vishal

 

[Jamen]

Guys, ANYBODY CAN HELP ME?

What if after settling in Canada I would like to borrow some money from my parents (which I don't have any chance to inform the Immigration office after getting ITA).

Is the Canadian Government going to charge any tax on this money?? Do you know their rules??

 

[Darshan019]

Thanks a lot Vishal for your prompt response.

Could you also please advise if I should buy FD's through online banking or go to the branch and get hard copy of FD certificates. I would like to understand which one is more convenient in terms of providing documents as proof of funds to CIC (online statement balance or hard copies of Fixed Deposits)

Regards,
Darshan

 

[Phong8877]

you can liquidate the required stocks and transfer​ to the relevant account. Get the letter for this account with 6 month average, if they don't provide average then get 6 months stamped statement. For sudden increase in your funds, upload the proof for liquidation of stocks. You are good to go.

Thank you Sir !

 

[kamalnba]

Hi All,

Good Day!!

I am new to this Forum and recieved my ITA yesterday. I am having some couple of questions on POF. Please help at the earliest as these are making me very nervous.

I am sure these questions would be already answered before in this forum but I couldn't able to find this.

1. After getting ITA, I asked my father to deposit back money into my Account which I have transferred to my mother's account(reflecting in statements) in DEC- 2015 to keep it safe.I was reading some forums it was written that sudden heavy deposit would be a question mark by CIC. How this can be solved?
2. I have multiple bank accounts in India & salary account in Dubai. Do i need show all the accounts to CIC?
3. I have saved some money in DXB Salary account if i transfer the same into India NRO/NRE account would it be also questionable by CIC? This money i saved from my Salaries.
4. Is it necessary to show my DXB account or any indian account would work?
5. How many Bank Accounts i can show for POF.

Thank you in advance. Quick Help would be appreciable.

Regards
Kamal Goswami

 

[crimsonautumn]

Hi All,

Good Day!!

I am new to this Forum and recieved my ITA yesterday. I am having some couple of questions on POF. Please help at the earliest as these are making me very nervous.

I am sure these questions would be already answered before in this forum but I couldn't able to find this.

1. After getting ITA, I asked my father to deposit back money into my Account which I have transferred to my mother's account(reflecting in statements) in DEC- 2015 to keep it safe.I was reading some forums it was written that sudden heavy deposit would be a question mark by CIC. How this can be solved?
2. I have multiple bank accounts in India & salary account in Dubai. Do i need show all the accounts to CIC?
3. I have saved some money in DXB Salary account if i transfer the same into India NRO/NRE account would it be also questionable by CIC? This money i saved from my Salaries.
4. Is it necessary to show my DXB account or any indian account would work?
5. How many Bank Accounts i can show for POF.

Thank you in advance. Quick Help would be appreciable.

Regards
Kamal Goswami

1. Gift deed from your father.
2. Not required. You can choose to show only a few accounts if the sum of the funds in those accounts is more than the minimal amount required in your case.
3. No. You just need to explain it in the LOE.
4. Any Indian account would work.
5. Upto you.

 

[kamalnba]

1. Gift deed from your father.
2. Not required. You can choose to show only a few accounts if the sum of the funds in those accounts is more than the minimal amount required in your case.
3. No. You just need to explain it in the LOE.
4. Any Indian account would work.
5. Upto you.

Thanks for quick reply. And your valuable information

I have got the same money transferred back which i have transferred to my father more than a year back. Still i need to get the gift deed or this can be writtem in LOE.

Gift deed is right option? I am just scared that this should not affect the whole application. Thanks in advance.

Regards
Kamal Goswami

 

[rubz]

hello seniors

Can i show the money in a joint account with my mother's name on it? She is the main account holder and i am the 2nd authorised person.

 

[Maverick28]

hello seniors

Can i show the money in a joint account with my mother's name on it? She is the main account holder and i am the 2nd authorised person.

No. You have to have your own account.

 

[vishalg]

Thanks a lot Vishal for your prompt response.

Could you also please advise if I should buy FD's through online banking or go to the branch and get hard copy of FD certificates. I would like to understand which one is more convenient in terms of providing documents as proof of funds to CIC (online statement balance or hard copies of Fixed Deposits)

Regards,
Darshan

For final submission you would need to scan the stamped document and get it issued within 2 weeks from the date of submission ( preferred). You can choose to get it online or by visiting the branch.

 

[vishalg]

Thanks for quick reply. And your valuable information

I have got the same money transferred back which i have transferred to my father more than a year back. Still i need to get the gift deed or this can be writtem in LOE.

Gift deed is right option? I am just scared that this should not affect the whole application. Thanks in advance.

Regards
Kamal Goswami

gift deed is an easier choice. It is a legally binding document so can stay tension free. Also, not that expensive ( assuming you are from India, for other countries I don't know)

 

[kamalnba]

Thanks Vishal for your quick reply...

Have come across any sucess stories using this method for POF. Just curious and nervous as waited for ITA for almost 2 years don't want to keep any open ends..

Regards
Kamal Goswami

 

[vishalg]

Thanks Vishal for your quick reply...

Have come across any sucess stories using this method for POF. Just curious and nervous as waited for ITA for almost 2 years don't want to keep any open ends..

Regards
Kamal Goswami

There are a lot of applicants who have succesfully used gift deed for POF. Check the thread started by anujgupta84 (forgot the name of the thread, but it should be on the first or second page).
No need to worry about gift deed.

 

[kamalnba]

Thanks Vishal.. very promising. God Bless you...

If you dont mind and if you have information handy. Can you please pass on the format for LOE, Gift Deed format and other docs which makes this option stronger.

Thanks in Advance

Regards
Kamal Goswami

 

[vishalg]

Thanks Vishal.. very promising. God Bless you...

If you dont mind and if you have information handy. Can you please pass on the format for LOE, Gift Deed format and other docs which makes this option stronger.

Thanks in Advance

Regards
Kamal Goswami

for LOE there is no specific format just a simple letter. address it to case officer and explain the situation in the way you deem fit.
Gift Deed format is available in that anujgupta84's thread. I don't have it handy but it is available in the forum.