Proof of Funds

[s.immanual]

Hi all,

My CRS score (according to the CRS tool) is 462

I am planning to apply for Expression of Entry once I get my PCC to ease the process.

As per immigration consultancies, the ideal amount to show Proof of Funds for 1 person (I am the only/primary applicant) is 6.5 lakh rupees and it should available in my bank account for at least 3 to 4 months.

CIC on the other hands states that this amount should be in ones account for atleast 6 months.

My questions:

· My parents are willing to provide the 6.5 Lakhs as a gift. Can I deposit this entire amount in one shot into my bank account?

· If yes, would I face any problem because of this & what documents do I need to provide to prove this deposit?

· If no, kindly enlighten me with the best way.

· How long should this amount be in my account?

· If it is 6 months as per CIC should I deposit this amount before I create a profile for Expression of Interest (EOI)

· Should it be available in my account until I clear immigration post landing in Canada once I get my visa?

I would be really grateful if you can provide your feedbacks.

Thanks in advance,

Immanual

 

[jackdawn]

Hi all,

My CRS score (according to the CRS tool) is 462

I am planning to apply for Expression of Entry once I get my PCC to ease the process.

You can create you profile first and can apply for PCC once you receive an ITA as PCC will be valid for 6 months

As per immigration consultancies, the ideal amount to show Proof of Funds for 1 person (I am the only/primary applicant) is 6.5 lakh rupees and it should available in my bank account for at least 3 to 4 months.

CIC on the other hands states that this amount should be in ones account for atleast 6 months.

CIC asks for a balance statement from the bank for the last 6 months

My questions:

· My parents are willing to provide the 6.5 Lakhs as a gift. Can I deposit this entire amount in one shot into my bank account?

No problem in taking hte amount as gift from parents and can deposit in ur account, but get a notarized gift deed from ur parents

· If yes, would I face any problem because of this & what documents do I need to provide to prove this deposit?
No problem/Gift deed

· If no, kindly enlighten me with the best way.

· How long should this amount be in my account?
Till u land in canada

· If it is 6 months as per CIC should I deposit this amount before I create a profile for Expression of Interest (EOI)

· Should it be available in my account until I clear immigration post landing in Canada once I get my visa?

I would be really grateful if you can provide your feedbacks.

Thanks in advance,

Immanual

 

[loveabhic]

Whatever @jackdawn replied is correct. But all these are standard questions and you should have searched the forum before starting a new thread for this. Please avoid making multiple threads for similar queries. Genuine issues suffer. Hope you understand. Thanks

 

[s.immanual]

Whatever @jackdawn replied is correct. But all these are standard questions and you should have searched the forum before starting a new thread for this. Please avoid making multiple threads for similar queries. Genuine issues suffer. Hope you understand. Thanks

I apologies for creating a new thread regarding my queries. I created this thread since I felt that certain queries of mine where more subjective. Thank you Jackdawn & loveabhic for your support.

 

[s.immanual]

@jackdawn: just to be more clear I should have the 6.5 lakhs in my savings account for 6 months from the time from the day my parents have deposited this sum in my account yes?

 

[jackdawn]

@jackdawn: just to be more clear I should have the 6.5 lakhs in my savings account for 6 months from the time from the day my parents have deposited this sum in my account yes?

No, cic asks for a 6 months statements to see if there are any huge deposits made to it or if there is a steady and regular mode of amount coming in and if there is an average balance in the last 6 months as POF. The point is to check that the amount u show in your account is your own and not loaned or borrowed.

In ur case since u r getting a gift from ur parents u can show the 6 months statement and against the huge deposit u get from ur parents and ul show the gift deed as a proof

 

[s.immanual]

No, cic asks for a 6 months statements to see if there are any huge deposits made to it or if there is a steady and regular mode of amount coming in and if there is an average balance in the last 6 months as POF. The point is to check that the amount u show in your account is your own and not loaned or borrowed.

In ur case since u r getting a gift from ur parents u can show the 6 months statement and against the huge deposit u get from ur parents and ul show the gift deed as a proof

@jackdawn Thank you for this information. So even if they deposit this amount this month i.e., June, I can still provide CIC the bank statement for the last 6 months i.e., Jan to Jun even though it does not have large mount in it.

P.S.: Does withdrawal of huge amount such as 25,000 Rupees raise concerns since I pay my loan on a monthly basis so I withdraw this amount every month to pay for the same so my average balance would only end up to 4000 rupees.