Hi, so I am filling out my EE application for PR. Just had a question about the proof of funds.
It asks how much you are taking with you, but I haven't got to a part where it asks for proof of the balance. I read somewhere that you will eventually contacted to submit it. Also read that large increases/decreases are red flags they will ask about if they happened in the past 3 months.
I was going to pay off some debt. I'd still be well over the $15,143 CAD for two people, but it obviously would be below what I am putting on my application.
So I guess my questions are this:
1) Does having x-amount over the minimum funds required help out your application significantly. If, for example, someone reported $70,000 CAD and provided proof, would their application be "better" than someone who reported and provided proof of $20,000 CAD?
2) When exactly do they ask for proof? It might be wiser to pay off some debt now and report that on the application as it will be closer to the number when they eventually ask for proof? Otherwise, it will be a read flag when I report a number much higher than what will be reflected on the proof when they get around to asking for it?
I ask 1) because it might be wiser to just hold onto the money and continue paying the debt until (if) I am granted PR, then pay it off after that.
It asks how much you are taking with you, but I haven't got to a part where it asks for proof of the balance. I read somewhere that you will eventually contacted to submit it. Also read that large increases/decreases are red flags they will ask about if they happened in the past 3 months.
I was going to pay off some debt. I'd still be well over the $15,143 CAD for two people, but it obviously would be below what I am putting on my application.
So I guess my questions are this:
1) Does having x-amount over the minimum funds required help out your application significantly. If, for example, someone reported $70,000 CAD and provided proof, would their application be "better" than someone who reported and provided proof of $20,000 CAD?
2) When exactly do they ask for proof? It might be wiser to pay off some debt now and report that on the application as it will be closer to the number when they eventually ask for proof? Otherwise, it will be a read flag when I report a number much higher than what will be reflected on the proof when they get around to asking for it?
I ask 1) because it might be wiser to just hold onto the money and continue paying the debt until (if) I am granted PR, then pay it off after that.
