Proof of Funds

[Ferawan12]

HELP!

For the proof of funds, does it have to be in Canadian Dollars or any currencies with an equal amount of funds required is okay?

Thank you

 

[Ferawan12]

How long does the proof of funds valid for? Let say i get it on June, and i ended up submiting the dicuments on July or August, can i use the same letter or do i need to ge a new one ?

 

[dr.josemrod]

I believe it to be fine, though I would recommend getting it closest to application possible.

 

[Ferawan12]

thank youu..
another question about notice of assessment, do i need to include that as well? if yes, where should i add that? working experience or proof of funds ?

 

[Ferawan12]

How long do i have to keep my funds on the bank? Let say i want to buy something or use the koney for something, would that be okay or they would ask me about the money and stuff?

 

[dr.josemrod]

How long do i have to keep my funds on the bank? Let say i want to buy something or use the koney for something, would that be okay or they would ask me about the money and stuff?

After we provided POF we were not asked NOA or to prove anything afterwards. We didn't use the money though, and I recommend you don't, you will need all of it.!

 

[Islander216]

You may be asked to show sufficient funds when you land in Canada, so you should keep that in mind.

 

[dr.josemrod]

You may be asked to show sufficient funds when you land in Canada, so you should keep that in mind.

Yes, in our case we didn't get asked, but we have needed it, pandemic, no jobs

 

[Islander216]

Yes, in our case we didn't get asked, but we have needed it, pandemic, no jobs

I wasn't either, but i know people who have, especially now with the pandemic, CBSA will be more likely to ask if you have the required settlement funds.

Remember that you need to have at least the required funds as per the number of people in your family according to your application, and you should have a recent bank statement which shows this amount.

 

[Ferawan12]

After we provided POF we were not asked NOA or to prove anything afterwards. We didn't use the money though, and I recommend you don't, you will need all of it.!

So when i land in canada, i just have to show the money that they require right? Not the money that i showed in the POF?

 

[Ferawan12]

I wasn't either, but i know people who have, especially now with the pandemic, CBSA will be more likely to ask if you have the required settlement funds.

Remember that you need to have at least the required funds as per the number of people in your family according to your application, and you should have a recent bank statement which shows this amount.

The means the bank statement that shows the ammount that's on the POF, right?
Let say the dat of the POF is July 7th, if they ask for the bank statement, i should show the bank statement 6 months before July , right?

 

[Islander216]

There are two things:

1. Submitting your proof of funds for your application, you ask for the most recent bank statement you can get before you submit your application, and you request bank statements for the last 6 months before that. So yes, you're correct on this if your request was made on July 7.

2. Hopefully everything works out, and now you've already been issued your PR visa and COPR, when you land in Canada, you should have a recent bank statement demonstrating you have at least the minimum settlement funds you need for your application. You present this to the agent if they ask you for updated proof of funds.

 

[dr.josemrod]

There are two things:

1. Submitting your proof of funds for your application, you ask for the most recent bank statement you can get before you submit your application, and you request bank statements for the last 6 months before that. So yes, you're correct on this if your request was made on July 7.

2. Hopefully everything works out, and now you've already been issued your PR visa and COPR, when you land in Canada, you should have a recent bank statement demonstrating you have at least the minimum settlement funds you need for your application. You present this to the agent if they ask you for updated proof of funds.

Exactly, and when you land you don't need to have the 24K on hand, but you need to be able to prove your plan to access the funds once arriving. Bear in mind you won't be able to go to a bank for 14 days.

 

[Islander216]

Gift deed from a sibling okay? Do you know anyone who successfully for the PR with his gift deed?

At what stage are you talking about? If you're talking about your application, a gift deed is fine but you will need the funds in your bank account as well, and you need to show the minimum balance or more either in the form of a bank letter or bank statement.

 

[Islander216]

Yes I received my ITA. I'm an inland FSW applicant. Both my sibling PR already. Is it okay if I take 10,000 from one sibling and 5,000 from another and attach 2 gift deeds?

It should be okay, as long as you get the bank letter as well showing the balance.