You can get all requested docs from the account which can sufficiently cover your POF.
Also, if loan is not for POF then no issues. Applicants who had home loans, car loans and loans for consumer durables have received PPR in the past.
All the best
Proof of Funds (Express Entry)
- Thread starter ThisIsHoof
- Start date
Also, if loan is not for POF then no issues. Applicants who had home loans, car loans and loans for consumer durables have received PPR in the past.
All the best
Any significant deposits credited within last 6 months definitely need a supporting document that could prove your ownership of these funds.
Depositing cash will be a challenge as there is no significant proof that these belong to you and not borrowed from someone.
Go with the gift route.
Yes, you are absolutely right not to show the transaction from a friend as it will be considered a loan by CIC.
Now, you can get the money as a gift i.e get a gift deed made- on a notarised paper it will be mentioned that so and so person gave you this amount as gift with his free will etc. and that the money is yours and you may use the money as as per your need and wish.
Now CIC doubts gift deeds from friends very much, so i would suggest you to take the money from your Parents, grandparents, siblings etc. if possible.
You need the following documents for PoF-
1. Balance certificate from the bank, on letterhead of the bank with the bank's contact number, address, e-mail on it, it should clearly mention your name, account number, date of opening of account, current balance and average balance of last 6 months.
2. bank statements of last 6 months.
3. Gift deed (preferably from Parents, grandparents or siblings).
Wish you luck.
for POF What if i start loading money progressively into my account , will they ask me "where have you got this money from ?" .Yes, i understand your problem there.
Wish you all the best
Also if my country has a threshold for money i take with me that doesn't meet the POF declared what should i do then ? or does canada request a permission from my country's change office to allow me to exceed the official threshold ?
I have a similar situation but the issue is, is this also necessary that you have to show your pay stubs/salary credited to your account on monthly basis on the account which you are showing as proof of funds?
Or you just have to show your PoF and no need for monthly salary deposits in that account? Pls answer I'm in worry
For recent credits, it is advisable to show supporting documents. If credits are through your salary show the paystubs
M
I wonder if VO will raise a doubt as to me not showing/providing my salary account at all. Your reply is much awaited TIA.
Many thanks for reply. Yes I've got documentation for PoF in the form of gift deed from my father. So does that mean I only need to show gift deed and scanned copy of cheque from my father and no need to show my salary account at all?
I wonder if VO will raise a doubt as to me not showing/providing my salary account at all. Your reply is much awaited TIA.
Let us take an example, you have account A and B. A is your salary account and B is is your savings account where you have POF( gift). If account B doesn't have any credits from account A in last 6 months and it is sufficiently above the minimum required funds then you can just show Account B.
CIC doesn't want to know your net worth, they are only concerned whether you own the minimum required funds.
That's perfect I got it now
so if I do show sufficient balances in account B then there's no need for showing salary account. One more thing, u have any idea that in future VO may ask for salary account just in case because I have loan in that account?They'll not ask you for any further accounts, if amount is sufficient in the account details you have uploaded.That's perfect I got it now
If the loan isn't taken for POF then no problems. People have received PPR while having loans for home, car and consumer durables
Yes, it will be a good way to go as long as the money is from salary, liquidated asests etc. i.e you have a genuine proof that this means is legitimately yours and not a careful procured loan of some kind.
You are not taking that money as yet to Canada, it will be in your account, it is not being transferred anywhere yet. So till you get your COPR, don't worry about it.
Later after PR you can take the needed cash as much your country allows with you. rest you can get wired accordingly so that no rules are broken.
Thanks @KiranK you have been of a great help and thanks again for sharing the list of documents.
is it ok if i get the money credited into my account and get the gift deed done by my friend along with the letter of explanation LOE stating that "this gift is irrevocable and I have no claim left whatsoever on the said gifted amount and he is free to utilise it in any manner." ??
also is FD an option? can i open an FD using this amount now and take a certificate from bank?
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Hi all, I have a question about other aspect of this funds requirement. The official website states that you don't need to have proof of funds if "are currently authorized to work in Canada, AND have a valid job offer from an employer in Canada". On the other hand some sources say that you only need to have "arranged employment offer". Does anyone of you have any experience with this? Is it enough to get offer with LMIA? Or do I need to be somehow "authorized" anyway (and if so - what kind of documents would I need?). Thanks in advance, cheers.