Doubts regarding Proof of funds

[jitesh16]

Hello,
I was amongst the candidates who received the notification for NOI in the Ontario PNP draw that took place on 21 March 2024.

I have doubts related to POF,
Can I include mutual funds as my POF
If yes, then what details should the letter have?

Note: All of my investments are in Indian financial institutions

Thanks and looking to hear back

 

[Alalac]

You must be able to show some money in banks of Canada too

 

[jitesh16]

Thanks, but I am located in India itself

 

[Miss bee]

Hello,
I was amongst the candidates who received the notification for NOI in the Ontario PNP draw that took place on 21 March 2024.

I have doubts related to POF,
Can I include mutual funds as my POF
If yes, then what details should the letter have?

Note: All of my investments are in Indian financial institutions

Thanks and looking to hear back

To show that you have available funds to meet or exceed the minimum necessary settlement fund requirement:

Scan and upload copies of your most recent bank statements showing the last three months of activity. The bank statements must state:

name of the financial institution

account number

balance in the account

indicate you as the account holder and/or

Scan and upload copies of the most recent bank statements belonging to your spouse or common-law partner showing the last three months of activity. The bank statements must state:

account number

name of the financial institution

balance in the account

account holder’s name

You must also scan and upload a letter from your spouse or common-law partner indicating that you have access to the funds and/or

Scan and upload statements of accounts for investments such as fixed term deposits and/or mutual funds.

You also need to scan and upload a letter from the financial institution. The letter must confirm that the funds are available, and the investments can be liquidated or redeemed on instructions and at what value.
Bank account outside of Canada
If you do not have a personal bank account in Canada, you must provide six months of original up-to-date bank statements from a recognized financial institution. The bank statements must:
 Demonstrate a personal account standing / final balance that meets or exceeds the LICO; AND
 Include the following details:
o Your name;
o Account number;
o Transit and institution number;
o Account balance; and
o Currency.