Proof of Funds (Express Entry)

[KiranK]

Accompanying spouse just has to sign the no objection declaration irrespective of the amount. No gift deed required

Yes, if your wife is going with you then no need.

 

[tichupichu]

Hello
IMO, if the deduction is from your salary, and if you already have the sufficient funds, it means your house rent will be deducted from your salary of upcoming months, if till date the funds are maintained despite any deduction, So it means any future salry you will be getting will be after deduction, so that is no issue at all. The finds will be maintained. As long as you are currently working, no need to tell CIC any information, you are good to go. Then don't need your payslips in PoF, so no problem there.
I f you want money from your wife, you still will have to get a gift deed if it is heavy amount.
Hope it helped.

Thankyou so much Kiran.

1. But i read somewhere that u can even use spouse bank balances as PoF so why the DEED is required in this case. Her name is appearing in the bank statement transfer and cant i simply attach an LoE to explain that I just moved my wife's saving to my account.
2. Please be informed that my wife is part of my CIC application and she will accompany me to Canada .. I am in UAE and gettinh the gift deed is very difficult here.
3. I will attach the payslips in with my reference letter. Although my salary is written in the reference letter but it also a requirement i think to attach salary slips. Btw is it mandatory ?
Plus even if i dont attach payslips. The salary mentioned in my reference letter and the salary crediting to my bank account for the past 6 months will have a difference (ie the lon deduction). Will CIC go to that level to investigate whether the deduction made is for any loan or something.


I know I am being detailed.. but I am putting a lot of effort in critically fulfill each requirement and dont want my efforts go in vein for some stupid mistake.


Thanks for all your support. Jazakallah kheir

 

[tichupichu]

Accompanying spouse just has to sign the no objection declaration irrespective of the amount. No gift deed required

Thanks Vishal yes she will accompany me.. so a mere no objection letter on a simple paper with her sign would be sufficient ?

And what do you think of my query with respect of housing advance from my company ?
If i dont disclose it .. wouldn't it be considered as intentional hiding of oblogation ?

 

[vishalg]

Thanks Vishal yes she will accompany me.. so a mere no objection letter on a simple paper with her sign would be sufficient ?
Yes
And what do you think of my query with respect of housing advance from my company ?
If i dont disclose it .. wouldn't it be considered as intentional hiding of oblogation ?

The answer given by Kiran is correct. You can still go ahead with an LOE explaining the situation. As long as loan isn't used for POF there are no issues. EMIs for loans are to be deducted from your future income. People have received PPR with home loans, car loans and loans for consumer durables

 

[tichupichu]

The answer given by Kiran is correct. You can still go ahead with an LOE explaining the situation. As long as loan isn't used for POF there are no issues. EMIs for loans are to be deducted from your future income. People have received PPR with home loans, car loans and loans for consumer durables

You mean I should disclose it and explain it in the LoE ? or dont diclose it at all and wont attach payslips.

 

[vishalg]

You mean I should disclose it and explain it in the LoE ? or dont diclose it at all and wont attach payslips.

It is optional, if you wish you can add LOE. But whenever in doubt use an LOE to your advantage.

 

[vacquoy]

Quick question: we have asked our bank for a POF but they only came up with our contracts and did not list any additional information as is required by CIC:

• list of all your bank (chequing and savings) and investment accounts, the account numbers, dates each account was opened and the balance of each account over the past six months,
• list all outstanding debts, such as credit cards and loans,
• be printed on the letterhead of the financial institution, and include your name and the contact information of the financial institution (address, telephone number and e-mail address).

Does anyone have any documents that we can show our bank as example? So they know what we mean when we say we need this information? Maybe a template or something similar?
Thanks in advance!

 

[vishalg]

Quick question: we have asked our bank for a POF but they only came up with our contracts and did not list any additional information as is required by CIC:

• list of all your bank (chequing and savings) and investment accounts, the account numbers, dates each account was opened and the balance of each account over the past six months,
• list all outstanding debts, such as credit cards and loans,
• be printed on the letterhead of the financial institution, and include your name and the contact information of the financial institution (address, telephone number and e-mail address).

Does anyone have any documents that we can show our bank as example? So they know what we mean when we say we need this information? Maybe a template or something similar?
Thanks in advance!

A sample template is shared in the link
https://www.google.co.in/url?sa=t&source=web&rct=j&url=http://canadavisahelpcentre.com/the-awesome-list-of-faqs/is-there-a-fixed-format-for-the-express-entry-proof-of-funds-bank-letter/&ved=0ahUKEwjR2_mNgqrUAhWJpY8KHTUYBLcQFggcMAA&usg=AFQjCNHTq3V6BrF2WqHHxNHt5k0SUUwArA&sig2=NWC7KXqKeL8fWY6a2T9Z7Q

 

[vacquoy]

A sample template is shared in the link
https://www.google.co.in/url?sa=t&source=web&rct=j&url=http://canadavisahelpcentre.com/the-awesome-list-of-faqs/is-there-a-fixed-format-for-the-express-entry-proof-of-funds-bank-letter/&ved=0ahUKEwjR2_mNgqrUAhWJpY8KHTUYBLcQFggcMAA&usg=AFQjCNHTq3V6BrF2WqHHxNHt5k0SUUwArA&sig2=NWC7KXqKeL8fWY6a2T9Z7Q

Thank you, this helps A LOT!

 

[duli100]

Quick question: I have borrowed money from one of my friends for PoF purposes, not realizing that CIC is very strict about this. Now I my father just sent me the money that should be enough to cover the PoF as a gift. My question is: should I return the borrowed money to my friend immediately, or still leave it in the bank account and write an explanation in the LoE to the officer? Appreciate your inputs on this.

 

[hamiltondreamer]

Yes you will have to show them the proof of sale of car., As CIC doubts any unexplainable heavy deposits in your account.

proof of sale of car would include a sales agreement and transfer of funds from the said person .that should be sufficient

 

[vishalg]

Quick question: I have borrowed money from one of my friends for PoF purposes, not realizing that CIC is very strict about this. Now I my father just sent me the money that should be enough to cover the PoF as a gift. My question is: should I return the borrowed money to my friend immediately, or still leave it in the bank account and write an explanation in the LoE to the officer? Appreciate your inputs on this.

Since gift from your father sufficiently covers the POF and your friend's gift doesn't impact the minimum amount. It won't make a difference. You can transfer it back to your friend after getting the letter. You can write an LOE that you had given loan to your friend and he returned it you. Even if CIC doesn't accept this they'll just deduct this amount from current balance and you'll still be above the LICO.

 

[Mudit88]

Hi guys, can any suggest at what stage the proof of funds are checked in our processing time? Like in the R10 or A11.2 phase or in the admissibility?

 

[vishalg]

Hi guys, can any suggest at what stage the proof of funds are checked in our processing time? Like in the R10 or A11.2 phase or in the admissibility?

R10 is just completeness check. POF is checked in eligibility ( A11.2)

 

[Vish7]

I had first created EE profile in July 2015 and it expired in July 2016.
I created a new one in Jan 2017. I see UIC # on old profile , but not on the new one.
I did have an Ontario nomination in old profile which i had not accepted.
Please suggest what I should fill in have i applied to canada before?