Proof of funds - questions

[srirams91]

Please help with the following questions:

1. When should one ideally have the funds ready? At the time of creating EE profile or after ITA (if confident about CRS score)?

2. How much percent of the PoF can be as a gift deed?

3. Is it mandatory to have the minimum amount of funds in account for at least 6 months? Say, if I can get 80% of PoF as a gift deed just days before my ITA deadline, will it work?

4. Should I disclose all of my savings bank accounts when showing PoF or just the one with the funds? Do they check for monthly salary credit in the bank account we disclose?

Thanks!

 

[Hannan Khan]

Did you get an answer to this? Can any one from the senior members shed some light?

 

[ECLN]

1. I was told you can get the required funds after ITA, that’s how I’m going to go about
2. Some people got the entire sum as a gift deed, in my case I’m getting 1/3 as a gift deed
3. 6months balance is needed to show that you didn’t borrow money, since you are getting a gift deed, it is not a requirement, but you should still ask your bank to show 6 months average balance.
4. You don’t need all your accounts, just the one with money. In fact bank statements are not compulsory, it’s the bank letter that is super important that needs to include ALL the required info specified on the cic website. Also you will need an affidavit

 

[sam3218]

Please help with the following questions:

1. When should one ideally have the funds ready? At the time of creating EE profile or after ITA (if confident about CRS score)? After ITA

2. How much percent of the PoF can be as a gift deed? It can be as much as you want but you need proper documentation

3. Is it mandatory to have the minimum amount of funds in account for at least 6 months? Say, if I can get 80% of PoF as a gift deed just days before my ITA deadline, will it work? No, but the 6 month requirement is there to know the source of funds i.e if there is gradual buildup in the funds e.g. salaries, savings every month then it's fine, if there is a sudden inflow of large amount of funds, you need to disclose the origin of funds (in your case gift deed)

4. Should I disclose all of my savings bank accounts when showing PoF or just the one with the funds? Do they check for monthly salary credit in the bank account we disclose? You can use just the account showing POF, salary is verified mainly through employment reference letter.

Thanks!

 

[srirams91]

thanks