Funds Requirement

[iPunjabi]

I have all my funds in Bank of America. Will they have to provide me some special statement? Or I could just download the 6 months of statements in order to provide proof of funds?

 

[mohamelwy]

The funds must belong to you, if you took a loan and it shows in your bank statements then you might be required to explain where this money came from.

if I used the loan to acquire some real estate, is providing proof of the purchase will be OK? or it will be a 50/50 chance?

What about stocks? Do they count?

 

[DelPiero07]

if I used the loan to acquire some real estate, is providing proof of the purchase will be OK? or it will be a 50/50 chance?

What about stocks? Do they count?

That'll be fine, what IRCC does not want is for you to take loans to meet the minimum required funds, in this case your loan is not related for immigration purposes.

Stocks do not count.

 

[sanjsin9]

The funds must belong to you, if you took a loan and it shows in your bank statements then you might be required to explain where this money came from.

Hi Delpiero07

i took a loan from a different bank account and im showing my savings account for POF thats a different account ..so will it be a problem ?

 

[gmichelli]

Hi guys, I have a question. When I'm showing proof of funds do I need to present more than the minimum amount that they request since I have to consider the fees and other expenses of the process? Or just show proof of the minimum amount they require? I have more than what they ask for to pay for the fees and everything, but the other expenses will be covered with my income from my current job and not with the amount stated on my savings account. In the letter of explanation I will show statements of my savings, chequing from two different banks and explain that the amount on my savings is to cover the minimum required plus express entry fees for me and my husband but that the other expenses (medicals and translations of documents) will be covered with our income. If someone can enlighten me with your experience I would be more than grateful. Thank you!!

 

[ver]

Hi all!

Please can anyone assist?

For the PoF, I am receiving a gift from my cousin who is overseas. She is prepared to do a gift deed and get it notarized.

My questions pertains to the following:

Will it ok from my cousin (not parents or siblings) to gift me the money?
Does she obtain the gift deed and notarized letter from her country of residence or do I get it from the country I am residing in.

Thank you in advance