Spouse Sponsor - Proof of Funds

[NarendarM]

Hi Everyone,
Thanks for reading my query and appreciate your inputs
I recently moved to Canada on PR and planning to sponsor my spouse. For proof of funds, can I show my Incorporation bank account or do I have to maintain funds in my personal bank account? I didn't have any filings with CRA as I moved recently
Thanks

 

[YVR123]

Hi Everyone,
Thanks for reading my query and appreciate your inputs
I recently moved to Canada on PR and planning to sponsor my spouse. For proof of funds, can I show my Incorporation bank account or do I have to maintain funds in my personal bank account? I didn't have any filings with CRA as I moved recently
Thanks

Incorporation business account DO NOT belongs to you and it's not for your personal use. (e.g. pay for living expense of you and your spouse)
So you need to show savings in personal accounts. You can also show that you have a job/pay cheques or you have families providing food and housing (if that's the case) for free.
There is no fix amount of "proof of funds" for sponsal sponsorship. But it needs to make sense and show that you can support your spouse.

 

[NarendarM]

Thanks YVR123 for your quick reply. Is it ok if I move some funds to my personal account and show?
As I am contractor and my employment letter also tied to my incorporation so not sure will they accept its as proof of my employment and not running any payroll.

 

[YVR123]

Thanks YVR123 for your quick reply. Is it ok if I move some funds to my personal account and show?
As I am contractor and my employment letter also tied to my incorporation so not sure will they accept its as proof of my employment and not running any payroll.

You don't pay yourself anything? How do you live?
You may want to talk to your accountant and figure this out. (not totally immigration/sponsorship related... like how will you file your personal tax? )