Proof of Funds (Express Entry)
- Thread starter ThisIsHoof
- Start date
I am applying under express entry/skilled workers. My funds for the POF came from me calling in a family debt. I loaned a company owned by a family member about 20,000 US several years ago and never needed it back so I just let them keep it. They paid me about half 4 years ago when I asked and I got the remaining half, 10, 000 usd last month when I asked for it back. It was a family loan so we dont have a lot of documents other than some notes the family member took regarding payments made back and their dates and the original amount of the loan. The company is no longer in existence and has not been for many years. Company records are destroyed. I am going to get a letter from my bank regarding the funds in my account and also I will execute an affidavit regarding the money is the final repayment of an old loan. The individual who had the loan on behalf of the company will also do an affidavit regarding the funds. This is completely legitimate transaction and has little records bc it was a family transaction (my parents and their company). Any suggestions on documents other than these i referenced to provide? Do you think what I have will be sufficient?
can2174
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- Aug 9, 2013
- 59
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Hi Everyone,
I am posting on behalf of my friend, he just created profile today with CRS 453. I know that minimum CRS in last draw who got ITA was 413, so I am expecting that he will get invite in next draw. I have few questions,
My friend has around INR equivalent of $15k canadian which he has invested in liquid mutual fund and are readily encashable . Is it ok to submit folio statements of those liquid funds and bank account statement of last 6 months showing transactions to those Mutual funds. ?
I am posting on behalf of my friend, he just created profile today with CRS 453. I know that minimum CRS in last draw who got ITA was 413, so I am expecting that he will get invite in next draw. I have few questions,
My friend has around INR equivalent of $15k canadian which he has invested in liquid mutual fund and are readily encashable . Is it ok to submit folio statements of those liquid funds and bank account statement of last 6 months showing transactions to those Mutual funds. ?
Either you produce all docs proving the loan, proof of both transactions debit and credit.
Or if it is too difficult to procure then you can get a gift deed since this is your family. If you go ahead with this route then you need to upload
1. Bank letter
2. Gift Deed
3. Proof of transfer ( cheque/ internet transfer receipt)
Thanks for the advice - cant do a gift deed because there is no such thing in the US and also because its not a gift. So to say it would be a gift is a lie, essentially. Documents are sporadic on memorializing the loan but we will execute the affidavits as explained and hope that is sufficient. Hopefully given my profession (attorney) they will accept it. Otherwise, nothing I can do. I cant lie but I also dont have a plethora of documents. I have to assume they will understand.
Thanks for your reply Vishal! I got stated in my RPRF letter that the eligibility is passed. Does that mean my POF is good to go and I would have no issue if iaibtsin the balance. N no additional docent is required now.?
Hey guys, I got my ITA in May.
1. I am currently in Canada on study permit and in process to apply for PG work permit. Re proof of funds, would it be enough if my parents transfer money to my Indian bank account and write me a notorised gift deed, affidavit? (This would be more easier for them) or shall I ask them to wire money to my Canadian account?
2. In one of our threads I've found content of gift deed, affidavit and LOE. Since, I am here in Canada gift deed could not be signed by me as well as my parents? Can anybody throw some light on it?
Please help, thanks.
1. I am currently in Canada on study permit and in process to apply for PG work permit. Re proof of funds, would it be enough if my parents transfer money to my Indian bank account and write me a notorised gift deed, affidavit? (This would be more easier for them) or shall I ask them to wire money to my Canadian account?
2. In one of our threads I've found content of gift deed, affidavit and LOE. Since, I am here in Canada gift deed could not be signed by me as well as my parents? Can anybody throw some light on it?
Please help, thanks.
Hi folks ,
My Spouse has couple of Fixed deposits in her Indian bank account. She will be travelling with me if we get a PR. So , can i just use the Fixed deposits which are only on her name as Proof of funds? Do i need to get any notarized letter(or any kind of letter) which says that she is agreeing that i can use the FDs?
Any pointers?
My Spouse has couple of Fixed deposits in her Indian bank account. She will be travelling with me if we get a PR. So , can i just use the Fixed deposits which are only on her name as Proof of funds? Do i need to get any notarized letter(or any kind of letter) which says that she is agreeing that i can use the FDs?
Any pointers?
The letter provided to me by my bank specified my name and type of account but did not state my Account number and only indicated the current account balance as of the date that I have requested the letter. To support the letter, I have attached my last 6 months bank statements, with first pages (shows the month's average balance) chopped and signed by the bank. For the current month I have only attached the Transaction History printout as the E-statement has not been released yet. Will this suffice?