Proof of Funds

[Jas Singh]

Hi All,
Your valuable advise will help.
I am in process to apply for EE after my IELTS scores with over all Band 8. Total work ex 11 years. NOC 0112. Not sure how fast the ITA will come however if anyone can guide on following queries.
1- Proof of funds - Is it mandatory to have 6 months bank statement for proof of funds. Will bank letter do?
2- Due to funds issues my consultant informed me that I apply alone now and later sponsor your spouse and kids? Is it right thing to do? Or
3- Do I need to show funds for myself only or for family too if they are not accompanying me?
4- On landing do they check on POF? More than 10k CAD is not allowed how to manage that?
5- Do they also check liabilities, I have personal loan running?

Appreciate your valuable comments.
Thanks,
Jas

 

[dobes]

Hi All,
Your valuable advise will help.
I am in process to apply for EE after my IELTS scores with over all Band 8. Total work ex 11 years. NOC 0112. Not sure how fast the ITA will come however if anyone can guide on following queries.
1- Proof of funds - Is it mandatory to have 6 months bank statement for proof of funds. Will bank letter do?
2- Due to funds issues my consultant informed me that I apply alone now and later sponsor your spouse and kids? Is it right thing to do? Or
3- Do I need to show funds for myself only or for family too if they are not accompanying me?
4- On landing do they check on POF? More than 10k CAD is not allowed how to manage that?
5- Do they also check liabilities, I have personal loan running?

Appreciate your valuable comments.
Thanks,
Jas

1. Read the forum. There is PLENTY of discussion on this. 2. Your consultant is wrong. Your spouse and kids don't have to come to Canada at the same time as you, but you have to have enough funds for the size family you have, whether they are coming with you right away or not. 3. You have to have funds for the family, as above. 4. More than 10K IS allowed, you just have to tell them you have it. 4. You TELL them about personal liabilities. Be honest with them. If they find out that you were purposely not honest with them about anything, they will bar you from Canada for five years.

 

[mhammoud]

Hi All,

Is the objective of POF to declare all the assets and loans that you have or just a proof of owning the minimum amount requested. I have a fixed deposit account in a bank, I got the reference letter and 6-month statement but I haven't asked for a paper about loans since I have none with this bank. What do you think? Appreciate feedback from all and specifically those who who got PR.

Thanks

 

[cjs]

Hi All,
Your valuable advise will help.
I am in process to apply for EE after my IELTS scores with over all Band 8. Total work ex 11 years. NOC 0112. Not sure how fast the ITA will come however if anyone can guide on following queries.
1- Proof of funds - Is it mandatory to have 6 months bank statement for proof of funds. Will bank letter do?
CIC asks for 6 balance certificate with 6 months average balance also. but i have seen cases where only balance certificate has worked well. I talked with so many consultants, all say that balance certificate will work. Moreover POF will be validated at local VO which is likely to be after 3 months of PR application.
2- Due to funds issues my consultant informed me that I apply alone now and later sponsor your spouse and kids? Is it right thing to do? Or
What is this funds issue ?
3- Do I need to show funds for myself only or for family too if they are not accompanying me?
You will need to show funds for all your family members
4- On landing do they check on POF? More than 10k CAD is not allowed how to manage that?
They check POF on landing, you can carry more than 10K. you ll have to declare if you are carrying more than 10K
5- Do they also check liabilities, I have personal loan running?
No, they do not check liabilities, you should have sufficient funds and these funds should be 6 months old being on safer side. plus these funds should not be borrowed

Appreciate your valuable comments.
Thanks,
Jas

 

[cococly]

Would 6 months of Bank Statements work for ONIP? It said 6 months of my Canadian Bank Statement (with my name) only.

 

[cjs]

Would 6 months of Bank Statements work for ONIP? It said 6 months of my Canadian Bank Statement (with my name) only.

OINP asks for 6 months bank statement. so it should have all your transactions in it. though i know people who have sent only 2-3 months bank statement. result needs to be seen

So being on safer side, i would suggest you to send 6 months bank statement to OINP.