Proof of funds requirements - Explained

[Snapdragon]

Hi. This might be a silly question, but who issues a gift deed? Is there a format for it? And is it necessary to have it if my accompanying spouse transfers only 3-4 thousand dollars to my account as the rest of the necessary amount I already have?

 

[yoones1978]

I'm gonna apply for express entry under skilled workers program in a few months to come. Currently my CRS score is not high enough to apply. I'm improving my English proficiency and also saving money to be able to provide proof of funds letter later. According to the economic and political condition of Iran I'm gonna exchange my Rial savings with Dollar and keep it in cash at home (At the moment it's the safest way), instead of a putting it in a bank account. Will CIC accept cash? If not What can I do? Any suggestions? Thank you

 

[scylla]

I'm gonna apply for express entry under skilled workers program in a few months to come. Currently my CRS score is not high enough to apply. I'm improving my English proficiency and also saving money to be able to provide proof of funds letter later. According to the economic and political condition of Iran I'm gonna exchange my Rial savings with Dollar and keep it in cash at home (At the moment it's the safest way), instead of a putting it in a bank account. Will CIC accept cash? If not What can I do? Any suggestions? Thank you

Cash is not accepted since CIC has no way of verifying you actually have that amount of cash. You need to provide a bank statement to confirm you have sufficient funds. Can you open a bank statement somewhere in US funds?

 

[yoones1978]

Cash is not accepted since CIC has no way of verifying you actually have that amount of cash. You need to provide a bank statement to confirm you have sufficient funds. Can you open a bank statement somewhere in US funds?

Thank you for your response. Yes I can open a bank account in USD but I can't trust banking system in Iran, because of political and economical instability

 

[lost_identity]

Hi...
My AOR was on 28th Dec, 2017 but I have a small doubt. I have mentioned 12300 as the settlement fund that i will be bringing to Canada which was okay, but recently CIC has updated the minimum amount to 12474 CAD... I wonder if that makes me ineligible? However in my balance certificate i had around 13000 CAD at the time of application. I still do have the same amount. Do I have to update my amounts using CSE ? or is it fine with that amount which met the eligibility requirement at the time of submission?

Kind regards.

 

[MinalC]

Hi.
I have got an invitation to apply and I am currently employed full time as an Account Coordinator - Business Development
My job doesnt need an LMIA and my question is do we need to still show Proof of funds $12400 even after full time employment?

 

[lost_identity]

Hi.
I have got an invitation to apply and I am currently employed full time as an Account Coordinator - Business Development
My job doesnt need an LMIA and my question is do we need to still show Proof of funds $12400 even after full time employment?

If you are FSW applicant, you must unless you have a valid job offer. You must explain it in loe along with proof. If you are CEC applicant then you need to write a low stating that you are cec applicant and you don't need pof as per cic rules.

 

[RASHMI KRISHNAMURTHY]

hello everyone , i am very confused about POF and bank statement to prove employement.
i will be getting gift deed for the POF , should we show 6 months bank statement for it cos im getting salary in cash and the same is mentioned in my employment letter but no salary deposit in my bank account ,so wat should i do ?

 

[rudy14]

Hello members .please guide me as i am totally clueless.we have funds as in different policies like LIC(life insurance company) which will mature in next year.can i use that proof of funds?
if thats not acceptable then can i show property as proof of funds ?
please guide

 

[Don H]

Hello, If my spouse is the principal applicant, is it acceptable for most of the proof of fund to be in my name? As she has been schooling for the last one year. Will this pose a problem?

 

[arvindman]

Hello,

I have FD of full amount required by CIC. This FD is 3+ months older. While submitting application do i need to get bank statements as well or only FD certificate will be enough.

 

[Varunaimar]

Dear Forum,
Please advise on this aspect.

I have a joint account with my wife, who may not accompany me to Canada (to boost my scores I'm mentioning that my spouse is not accompanying). I have more than sufficient proof of funds in that account to cover for my wife and kids (18000 CAD<).
Would CIC accept this as my proof of funds? Or do I have to show the balance in an account solely in my name?

 

[balaji.s]

Hi Team,

Thanks to all the members for helping the fresh applicants like me.
I am applying for express entry as Primary applicant accompanied by my wife(secondary applicant).
For the POF, I will be showcasing my Bank balance and EPF(Employee provident funds, India).
My query is, can I submit my wife's EPF balance(close to 8000 CAD) as one of the proofs? Will it be considered as POF, as it is solely owned by my spouse(Not a joint account). Please clarify.

Thanks
Balaji S

 

[sundar17feb99]

Hi Team,

Thanks to all the members for helping the fresh applicants like me.
I am applying for express entry as Primary applicant accompanied by my wife(secondary applicant).
For the POF, I will be showcasing my Bank balance and EPF(Employee provident funds, India).
My query is, can I submit my wife's EPF balance(close to 8000 CAD) as one of the proofs? Will it be considered as POF, as it is solely owned by my spouse(Not a joint account). Please clarify.

Thanks
Balaji S

Since your wife is accompanying you, it can be used. Yes.

 

[sundar17feb99]

Hello,

I have FD of full amount required by CIC. This FD is 3+ months older. While submitting application do i need to get bank statements as well or only FD certificate will be enough.

FD certificate is enough