Proof of funds - what documents does one need?

[dopehead]

So based on the EE document upload site, the POF section states:


If you are applying for permanent residence in Canada, you must provide an official letter issued by your financial institution indicating your financial profile. This must:

• 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)

How are you guys planning to get bank statements? Does it have to be an official letter as stated or would six months of balance details from the bank's website do?
And for credit card debts etc, should a letter be generated by every creditor (credit card/car/mortgage etc) or as above, a six month history from the credit card website?

 

[Rocky127]

I got a letter from BOA and it pretty much covers everything CIC need. I also got my past 6 months statement stamped and uploaded it with the letter

Good luck!

 

[dopehead]

Thanks Rocky. How did you handle the credit card part?

 

[Rocky127]

I wrote LOE mentioning that its bank policy not to share CC details and attached relation ship manager business card for more details

I passed my medical and completeness check and waiting for background checks right now

So I assume you should be good to go with this

 

[dopehead]

Fair enough, thanks. I'm just going to attach my current card statements and hope for the best.

 

[koolbuddy]

Should we attach all credit card statements, car loan as well?
the savings should be more than the ones after deducting all the debts?


Thanks

 

[karthik2479]

I don't think it's really necessary to attach credit card statements and debts. If you have sufficient POF then no need to declare. What thy are really concerned is whether you have borrowed money for POF. Consumer loans and mortgages are not an issue since they are paid out of future income so I would not worry about them at all.

 

[cavenkanna]

I don't think it's really necessary to attach credit card statements and debts. If you have sufficient POF then no need to declare. What thy are really concerned is whether you have borrowed money for POF. Consumer loans and mortgages are not an issue since they are paid out of future income so I would not worry about them at all.

I understand for 4 people for PR, POF required CAD 23K (with out job offer). This CAD 23K need to be an average balance for last 6 months? does it matter if the funds borrowed during the 6th month to show CAD 23K?

 

[dopehead]

I understand for 4 people for PR, POF required CAD 23K (with out job offer). This CAD 23K need to be an average balance for last 6 months? does it matter if the funds borrowed during the 6th month to show CAD 23K?

It's advisable to have an average balance of the minimum amount. If you have a sudden influx of money just when you're applying for immigration, it may raise some eyebrows. One way around it would be to have a gift deed issued for the additional amount in your name.

 

[DEEPCUR]

I understand for 4 people for PR, POF required CAD 23K (with out job offer). This CAD 23K need to be an average balance for last 6 months? does it matter if the funds borrowed during the 6th month to show CAD 23K?

It has to be average balance. I think you could borrow only from parents and use something called gift deed to tell cic that the money would be all yours. Borrowing from friends not advisable. You also need to have required proof of funds at the time of landing as well.

 

[harirajmohan]

Should we attach all credit card statements, car loan as well?
the savings should be more than the ones after deducting all the debts?
Thanks

Just cash balance in your checking/savings account. No credit card accounts.