Proof of funds SINP

[ArGo]

Thank you very much! We have 70 points (Master's degree from IQAS, 33 years, 10 yrs of experience, IELTS- CLB 9). We applied 2 days ago. Do you know when it will be the next draw, how often are they happening?

Last draw happened on 20th December. Check if your NoC is listed in there. Not sure if there will another SINP draw. Usually it was happening at least 3 times in a month.

 

[onetimepad]

Hi fellows,
How do they deal with the varying exchange rate? Suppose I have the minimum required funds in PKR now but if the exchange rate changes and the equivalent amount goes below the requirement, what happens? Are they that strict to consider this as a violation of POF requirement?

 

[ArGo]

Hi fellows,
How do they deal with the varying exchange rate? Suppose I have the minimum required funds in PKR now but if the exchange rate changes and the equivalent amount goes below the requirement, what happens? Are they that strict to consider this as a violation of POF requirement?

SINP is very strict with regards to POF. You have to maintain the POF in consideration to the changing exchange rates. While SINP officer converts your PKR value after a couple of months from your submission and finds it below the required value, there may be a request to submit updated POF, else rejection.

 

[onetimepad]

Thanks ArGo for your answer!
I have another question: Do we need to maintain POF after the application has been submitted? If yes, for how long?

 

[Mariny]

Dear Sir, i received ITA but i have a fixed deposit for POF which is not upto 3months old... Can i use it to apply?

 

[sesanelect]

I have an investment with a registered cooperative society and also have a growing monthly savings with them. The cooperative society is registered in Nigeria with ministry of trade and commerce. I intend to provide my bank account statement which shows my monthly transfer and investment transfer to the account of this society. I also met with the management of the cooperative society who agreed to get me my cooperative savings and investment account statement with a letter of proof of fund and also a month statement of cooperative corporate bank account with a commercial bank backed with a letter of proof of fund for their corporate account. While reading about acceptable proof of fund, I read about mutual fund, Is cooperative society fund a mutual fund and from your experience, will a statement of proof of fund from a registered cooperative society be honored

 

[tonmoyd83]

Hi, I have FDs and insurance which are 5 and 10 years old respectively. My FD is a tax lock in FD started in 2015 and insurance was started in 2008, both are very old ones. However, both are maturing in April this year. Can I use them to show as POF if I get my ITA before April?

 

[Sohaibkq]

I heard that SINP will check POF at PPR time. This means that I need to keep holding funds throughout the process. This is the most painful part. Any way around for that?

 

[Chintan Rathod]

I have one question about settlement plan: From what time SINP considering 3 months ? After receiving ITA and submitting application with all required documents ? Or before submitting the initial application to SINP without receiving ITA ?
I have submitted my SINP online application on 15th of January. At that time my required fund was only 1 month old. If I will receive ITA on 15 of February (for example) and will get 60 days to submit full application with required documents; if I will keep the required funds in account, will it be consider 3 months Old ?
Kindly guide......... Thanks...........

 

[avhiphop]

Gift deed not acceptable in SINP like EE? That is right after getting ITA (Not received ITA, just asking, currently stuck at 67 points)

 

[Sohaibkq]

Gift deed not acceptable in SINP like EE? That is right after getting ITA (Not received ITA, just asking, currently stuck at 67 points)

The concept of gift deed doesn't apply for sask. You need to have 3 months old funds and need to hold them till PPR.

 

[ArGo]

Thanks ArGo for your answer!
I have another question: Do we need to maintain POF after the application has been submitted? If yes, for how long?

Through out the journey, may be until you land. CIC may at anytime ask for updated bank statements or updated PoF.

 

[ArGo]

I have one question about settlement plan: From what time SINP considering 3 months ? After receiving ITA and submitting application with all required documents ? Or before submitting the initial application to SINP without receiving ITA ?
I have submitted my SINP online application on 15th of January. At that time my required fund was only 1 month old. If I will receive ITA on 15 of February (for example) and will get 60 days to submit full application with required documents; if I will keep the required funds in account, will it be consider 3 months Old ?
Kindly guide......... Thanks...........

You must have the "Minimum Funds Required" for a minimum of three months before you submit your application.

If you receive ITA on 15th Feb and your fund is just 30 days old, then it doesnt make sense in submitting your application. You should wait for another 60 days to get completed to submit your application to SINP. So ideally you should be holding 3 months old fund at the time of submitting your complete application for nomination.

 

[tonmoyd83]

Hi, I have FDs and insurance which are 5 and 10 years old respectively. My FD is a tax lock in FD started in 2015 and insurance was started in 2008, both are very old ones. However, both are maturing in April this year. Can I use them to show as POF if I get my ITA before April?

Inputs appreciated please

 

[hassan905]

Hi All,

I have the same issue as most of the people here ...
Received ITA but bank statement doesn't have enough funds for the previous 3 months and will take more than next two months to get matured..
In this case how can i cancel ITA and not receive it till next two months ?