Company Gratuity as settlement funds

[Hansi1991]

Hi,

I was nominated on 17 August 2022 for the SNIP. Since I am working in a Middle East country, Can I show my gratuity as proof of funds? If it is possible what is the process should I follow?
1. are sufficient to submit company letters that stating the amount I am entitle with salary transfer letter?
2. Amount to be deposited to the bank account? But then money is not mature for 90 days....

Anybody has experience on this with regards? or any advise?

 

[Naturgrl]

Hi,

I was nominated on 17 August 2022 for the SNIP. Since I am working in a Middle East country, Can I show my gratuity as proof of funds? If it is possible what is the process should I follow?
1. are sufficient to submit company letters that stating the amount I am entitle with salary transfer letter?
2. Amount to be deposited to the bank account? But then money is not mature for 90 days....

Anybody has experience on this with regards? or any advise?

Ask SINP because funds must have been maintained for at least 3 months in your bank account. Gratuity is a “tip” so doubt it because it is not yet your money. POF is money in a financial institution.

Proof of funds must:

• be official letters, official statements, or certificates from one or more financial institutions.
• have been maintained at least 3 months prior to sending your application and maintained throughout the entire immigration process.
• be in the name of the principal applicant and/or spouse only.

Fund statements must show a detailed transaction history for at least three months before the date your SINP application is sent. It must include the type of currency, your name, contact information of the financial institution, account numbers, transactions and balances.

All documents not issued in English or French must be accompanied by a certified translation.

To find out if settlement funds are sufficient, the account must show that when the account was at its lowest amount, it met the settlement requirement for the size of the household.

The following funds will be accepted:

• Personal chequing or savings accounts.
• Bonds.
• Cash value life insurance.
• Guaranteed Investment Certificate (GICs) or Certificates of Deposit.
• Mutual Funds.
• Provident Funds (an official letter from the provident fund organization indicating the amount of funds that are accessible is required).
• Registered Retirement Savings Plans (RRSPs).
• Stocks.
• Tax Free Savings Accounts (TFSAs).
• Term deposits and time deposits (must be valid at the time of application and remain valid throughout the entire application process).
• Treasury Bills.