PROOF OF FUNDS

[asadrazashah]

Dear All,

When do I require POF ? I mean at what point,
2nd question: I hold an account in which I can show POF but its on my name and my wife is the primary applicant for the immigration ...she is a signatory of the account but the account title is on my name only ..Would the govt of Canada consider it as a valid POF or I have to open an other account on her name only?
Please let me know

Thanks & Regards,
Asad Raza


C) Proof of funds (POF) is a very important part of your documentation. While you are awaiting your ITA, you can prepare to show your funds. You DO NOT need to get any bank letter/document at this stage but if you need to arrange funds (like selling a car or liquidating assets like selling gold etc.) you have to start planning on how you are going to show your funds. CIC requires that the funds be unencumbered by any debt or obligation to re-pay. These funds must be liquid (You should be able to convert it to hard cash whenever required). You can see what CIC allows you to show as POF in the link provided at the end of the section.

 

[rohanr]

POF in form of bank accounts are allowed as long as they are in the name of primary applicant, or the accompanying spouse, or both (joint account). I think you should be good.

Cheers!

 

[DelPiero07]

You'll have to prove that you have the funds when submitting your eAPR after receiving an ITA.

Yes, you the funds can be in your name as long as you're accompanying to Canada.

 

[asadrazashah]

OK, Thanks a lot for the help I do have an account since last 4 years I think that would be enough.

Thanks once again.

Regards,
Asad Raza