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Proof of Funds (Express Entry)

danishsaeed

Member
Nov 20, 2015
10
10
Guys,

I need help. I just received an ITA and have all documents ready except the proof of funds.

All our savings are in gold which is sitting at home so can we use or not?

Can we sell it and use that money or will it not work?
Does it have to be a CAD account or a local currency account would do?

Looking forward to hearing from you guys soon.
 

vishalg

Champion Member
Oct 14, 2015
1,115
185
NOC Code......
6221
Guys,

I need help. I just received an ITA and have all documents ready except the proof of funds.

All our savings are in gold which is sitting at home so can we use or not?

Can we sell it and use that money or will it not work?
Does it have to be a CAD account or a local currency account would do?

Looking forward to hearing from you guys soon.
You can sell it, upload the sale deed along with the scanned copy of cheque and the bank letter.
Any currency is fine.
 

karenn1617

Hero Member
May 29, 2015
594
41
Visa Office......
NDVO
NOC Code......
1123
Hello there,

I got a question related to fulfilling the funding requirements. My case too is just like any other on the forum. From where, one can consider getting the funds and what all documents required.

1. I got the option to get it arrange from mine relatives - Uncle and Aunty ~ parent's first siblings (real brother/sister).
2. Second option is to get from grandparents.

Please confirm that do the above will work AND what documents I will be requiring to submit alongside as after all it will be a case of GIFT.

Thanks
K
 

vishalg

Champion Member
Oct 14, 2015
1,115
185
NOC Code......
6221
Hello there,

I got a question related to fulfilling the funding requirements. My case too is just like any other on the forum. From where, one can consider getting the funds and what all documents required.

1. I got the option to get it arrange from mine relatives - Uncle and Aunty ~ parent's first siblings (real brother/sister).
2. Second option is to get from grandparents.

Please confirm that do the above will work AND what documents I will be requiring to submit alongside as after all it will be a case of GIFT.

Thanks
K
Responded in another thread
 

sahildrabu

Full Member
May 16, 2017
38
0
34
Srinagar
IELTS Request
08-04-2017
I need assistance regarding proof of funds.
How old the money should be in the account?
3 months or 6 months or they don't bother when the money is credited in the account.
 

SaintNishant

Star Member
Jun 10, 2014
115
31
Category........
FSW
Visa Office......
New Delhi
NOC Code......
2171
AOR Received.
13-04-2017
Passport Req..
06-11-2017
All, I have a query about PoF - I am using Provided Fund (India) as PoF.

I applied to PF Office for a letter stating the balance and also a ledger which will detail all the transactions (read deposits) into the account. While the ledger they provided looks good as its a computer print and is signed and stamped. The balance letter they provided is handwritten. Though it specifies my a/c number, the account balance and is signed and stamped by the Assistant PF Commissioner.

I was expecting a typed letter, so now confused if this is OK. Has anyone seen/ or got a similar letter, handwritten from the PF office.
 

Krystine

Hero Member
Dec 12, 2016
330
95
Category........
CEC
Visa Office......
Ottawa
AOR Received.
17-05-2018
Med's Done....
23-04-2018
Passport Req..
27-09-2018
VISA ISSUED...
12-10-2018
LANDED..........
14-10-2018
Hello Guys

I am now working in Canada and I have 1 TD account (checking) and 1 BMO account (also checking).

However I do not have enough funds in both accounts for POF right now, and my parents wants to gift me somemoney which is above my LICO from my home country. The money will be transferred into my home country account in local currecy.

When submitting the POF, will it be okay to submit only the funds in my home country account where I have sufficient funds for POF or is it necessary to submit all the funds from all the personal bank accounts I have?
 

vishalg

Champion Member
Oct 14, 2015
1,115
185
NOC Code......
6221
All, I have a query about PoF - I am using Provided Fund (India) as PoF.

I applied to PF Office for a letter stating the balance and also a ledger which will detail all the transactions (read deposits) into the account. While the ledger they provided looks good as its a computer print and is signed and stamped. The balance letter they provided is handwritten. Though it specifies my a/c number, the account balance and is signed and stamped by the Assistant PF Commissioner.

I was expecting a typed letter, so now confused if this is OK. Has anyone seen/ or got a similar letter, handwritten from the PF office.
Just the stamped and signed ledger is enough.
 

vishalg

Champion Member
Oct 14, 2015
1,115
185
NOC Code......
6221
Hello Guys

I am now working in Canada and I have 1 TD account (checking) and 1 BMO account (also checking).

However I do not have enough funds in both accounts for POF right now, and my parents wants to gift me somemoney which is above my LICO from my home country. The money will be transferred into my home country account in local currecy.

When submitting the POF, will it be okay to submit only the funds in my home country account where I have sufficient funds for POF or is it necessary to submit all the funds from all the personal bank accounts I have?
Show accounts to cover POF. Other accounts are not required. If you're taking a gift, upload the gift deed also.
 

Krystine

Hero Member
Dec 12, 2016
330
95
Category........
CEC
Visa Office......
Ottawa
AOR Received.
17-05-2018
Med's Done....
23-04-2018
Passport Req..
27-09-2018
VISA ISSUED...
12-10-2018
LANDED..........
14-10-2018
Show accounts to cover POF. Other accounts are not required. If you're taking a gift, upload the gift deed also.
Great to know. Thank you. Do I also need to convert the money into Canadian dollars when I show the POF?
 

omarkhan

Hero Member
Oct 12, 2016
564
63
Pakistan
Category........
FSW
Visa Office......
Islamabad
NOC Code......
4011
App. Filed.......
11-08-2017
AOR Received.
11-08-2017
Passport Req..
08/09/2017
Dear all: I have to show a pof for which my father will be giving me a gift deed of the required amount by selling some property. What would be the best thing to do for him: Either to sell the property and then deposit the amount in my account, or rather to transfer the ownership of the property in my name I sell it to generate the required amount.

Also, my mother has her savings which she wants to help me with. But the problem is that her money is not kept in any account but at home. How can I prove that the money was gifted by my mother?

Please suggest what should I do? Thanks
 

vishalg

Champion Member
Oct 14, 2015
1,115
185
NOC Code......
6221
Great to know. Thank you. Do I also need to convert the money into Canadian dollars when I show the POF?
Ask the bank to provide the figures in CAD also. If they don't use an LOE/covering letter and summarize the POF and convert the amount in CAD using the conversion rate given on bank of Canada's website.
 

vishalg

Champion Member
Oct 14, 2015
1,115
185
NOC Code......
6221
Dear all: I have to show a pof for which my father will be giving me a gift deed of the required amount by selling some property. What would be the best thing to do for him: Either to sell the property and then deposit the amount in my account, or rather to transfer the ownership of the property in my name I sell it to generate the required amount.
Either way is fine. But if he is going to gift you the property then the deed would involve registration fee ( significant). Cheaper option would be to sell it and get the funds in his account and then gift you the relevant sum. This is just my opinion, a lawyer or other experienced people might give other suggestion.
Also, my mother has her savings which she wants to help me with. But the problem is that her money is not kept in any account but at home. How can I prove that the money was gifted by my mother?
Proving ownership and providing source of Cash would be a challenge. Would advice to not go with this.
Please suggest what should I do? Thanks
 

Lyssiej

Star Member
Mar 10, 2016
95
75
USA
Category........
Pre-Assessed..
Yes
We are sitting in the pool at 411 and figuring out pof. My husband just sold stock options he has in his company to cover the cost. The money will be deposited in a bank account. Is it enough to get a letter from the bank or should we provide some kind of evidence of the options sale to show as well for POF?