5th draw over. 481 points and 1620 invites..

[pziegler1986]

Not according to this: http://www.cic.gc.ca/english/immigrate/skilled/funds.asp
It says if I am authorized to work in Canada or if I have a job offer here, I don't need to show the funds.

Do you have a valid job offer? I have a job but it's not backed by a LMO/LMIA as I am LMIA exempt under the IEC - so I will definitely have to provide proof of funds.

 

[indigoroom]

Congrats to everyone who've got their ITAs
My score's 376, don't have a job offer or PNP, still I'm positive and confident that I'll get an ITA by the 7th or 8th Draw. I'm very new in this forum, would someone please explain what is the Spreadsheet everyone's talking about? And also feel free to knock if I can help with any information.

My agency is dealing with all the formalities. Can someone tell me how to check my jobbank account, I know the username and password but don't have the proper URL to check my status.

This forum is awesome.

 

[niravk]

Slightly confused and curious with regards to proof of funds.

By the time I receive ITA and apply for my immigration and till the time I reach Canada, I will have sufficient amount in my bank account.(equivalent to what I declare while filing my filling out the ITA application)

Now since I am a salaried employee, all have the necessary banks documents to show my funds (bank statements, provident funds, time deposits, share holding and other securities statement). ALL OF THESE ARE HIGHLY LIQUID ASSETS.

Now in case if I am not able to amass the necessary amount at any point of time, can I borrow money from my parents or will their bank documents be considered valid by CIC.

 

[katja2684]

Slightly confused and curious with regards to proof of funds.

By the time I receive ITA and apply for my immigration and till the time I reach Canada, I will have sufficient amount in my bank account.(equivalent to what I declare while filing my filling out the ITA application)

Now since I am a salaried employee, all have the necessary banks documents to show my funds (bank statements, provident funds, time deposits, share holding and other securities statement). ALL OF THESE ARE HIGHLY LIQUID ASSETS.

Now in case if I am not able to amass the necessary amount at any point of time, can I borrow money from my parents or will their bank documents be considered valid by CIC.

That's the thing, you cannot say you borrowed the money. It's also not recommended to have joint bank accounts with parents/siblings.

 

[haznac]

Yes Parents can make donation

Unless the rules have changed, I clearly remember reading last year that you cannot borrow this money from anyone at all. However, it is a bit difficult to prove that you borrowed this money. Let's say you received the borrowed money in cash and deposited it yourself at the bank. And if in an interview they question where this money came from, you can just make something up, e.g. "I saved it up in my personal safe at home". I mean, how are they going to prove your story wrong? But of course, if your parents use a bank to transfer you the money, then it's easily trackable and there will be complications.

 

[katja2684]

Hi Katja,

I think yes, parents can make donations and it will be accepted.

As for myself, I think I am going to decline my invitation and wait for a CEC specific draw.

CEC draw would be the best for me too. Who would have thought the points would drop so low :'( Now I'm concerned about POF. Will try to gather the funds by end of March.

 

[uxd]

Do you have a valid job offer? I have a job but it's not backed by a LMO/LMIA as I am LMIA exempt under the IEC - so I will definitely have to provide proof of funds.

I am not sure thats why I raised this query. I am on a PGWP working FT in Canada. PGWP holders dont need LMIA.
I would hope that CIC is worried only if you dont have sufficient funds to come to Canada or no Job.
PGWP guys are LMIA exempt so anyways they can not convert their jobs to LMIA approved one overnight.

 

[blackbeast]

I am not familiar with Provident funds. I looked it up and it appears to be a Pension Fund. These funds would not be acceptable as they are not liquid funds that you could use to support yourself on arrival in Canada. The cost of living is high here. The amount of funds required is not excessive if you have to support yourself for a while before finding good employment.

thanks for the info bro. yeah i know about the cost of living. but my pf fund is readily cash able in the sense whenever i apply for it, it would obtain it.

 

[erable_rouge]

Hi all. I got ITA. I can't hide my joy. 481 points on the dot. Thanks Canada for inviting me. I hope you continue your goodwill towards me by granting me PR very soon. I love you Canada. Thanks.

Congratulations!!! All the best for your PR process!!!

Alos, where and how do you guys calculate teh scores? I did try some websites, but do not know if the score is accurate.

 

[Julianasnr]

Alright, prediction people!

How many draws until it gets to high 300s? (Based on our spreadsheet)

 

[MedZed]

Congrats to everyone who've got their ITAs
My score's 376, don't have a job offer or PNP, still I'm positive and confident that I'll get an ITA by the 7th or 8th Draw. I'm very new in this forum, would someone please explain what is the Spreadsheet everyone's talking about? And also feel free to knock if I can help with any information.

My agency is dealing with all the formalities. Can someone tell me how to check my jobbank account, I know the username and password but don't have the proper URL to check my status.

This forum is awesome.

The spreadsheet is an excel file that most of the forum members have entered they scores and their NOC code on it after submitting the profile on EE system,here is its link:

Express Entry Spreadsheet
http://tinyurl.com/mwstg52

To get yourself entered in Spreadsheet, enter details here:
http://tinyurl.com/ke3hjef

 

[niravk]

CEC draw would be the best for me too. Who would have thought the points would drop so low :'( Now I'm concerned about POF. Will try to gather the funds by end of March.

I am curious to know what makes you say 'CEC would be best' from PNP or FSW? How does it benefit foreign nationals under express entry(wrt to proof of funds, jobs, time for processing)?

I would be glad to hear this from you.

 

[Pippin]

Proof of Funds. This is coming up a lot. Do a search in the white box top right corner on the main forum page. You will find masses written about this topic under FSW. The whole point of this money is to prove you can be self supporting until you are earning a salary. If the money is tied up in non-redeemable accounts, an insurance policy, pension savings or borrowed from a lender or family member then it is not your money as far as CIC is concerned. They can do spot checks and ask for proof of the origin of the money in cases of lump sum deposits.

 

[uxd]

I am curious to know what makes you say 'CEC would be best' from PNP or FSW? How does it benefit foreign nationals under express entry(wrt to proof of funds, jobs, time for processing)?

I would be glad to hear this from you.

Not a question of which is best or worse. Given the current cutoff score, this boils down to :
1. CEC is arguably the best route for those who qualify for it. It is easier to gather documents and also easier to show POF if you are working. Drawback is the CRS as these guys dont normally have LMIA. But with scores getting lower, I would say this is not a huge problem.
2. If you dont qualify for CEC then FSW is probably the best option for people who are not in Canada.
3. PNP and LMIA routes are definitely faster (In getting ITA. Pre-ITA, PNP is a long process) and secure because you are chosen early and surely based on additional 600 points. But then there are a few limitations as well - like for those with a closed wp as you cant really change jobs until you get PR.
Still nothing beats getting additional 600 points no matter whether you choose FSW or CEC.

 

[theguneet]

Proof of Funds. This is coming up a lot. Do a search in the white box top right corner on the main forum page. You will find masses written about this topic under FSW. The whole point of this money is to prove you can be self supporting until you are earning a salary. If the money is tied up in non-redeemable accounts, an insurance policy, pension savings or borrowed from a lender or family member then it is not your money as far as CIC is concerned. They can do spot checks and ask for proof of the origin of the money in cases of lump sum deposits.

If you are in Canada the best way to do is to get a bank draft. Typically, a bank charges $7.50 for a DD and its the most sound way of showing proof of funds.