help on proof of funds
- Thread starter futurecanadiannew123456
- Start date
Dear all,
Need some advice.
I have some funds in a savings account. Taking some from my dad and rest of the money I am getting from my uncle as a loan 1/3 of the total.
1. I want to show the total money to my name doing a Fixed Deposit Saving Fund. Will that do?
2.Do I need to show the SOURCE of the money OR providing the proof of fund( A Bank certificate- mentioning that I have the amount with their bank) to my name is enough?
3. As still I don;t have that much of money so if the Deposit has a record of less than 6 months; in fact I will deposit the whole amount next month- what might happen?
I have my salary account at a different bank. My office will provide the record of gross payment for each financial year. (like pf, fringe benefits, basic salary) and I can get the statement of the salary account for last 6 months.
Any suggestion what will be the best
Need some advice.
I have some funds in a savings account. Taking some from my dad and rest of the money I am getting from my uncle as a loan 1/3 of the total.
1. I want to show the total money to my name doing a Fixed Deposit Saving Fund. Will that do?
2.Do I need to show the SOURCE of the money OR providing the proof of fund( A Bank certificate- mentioning that I have the amount with their bank) to my name is enough?
3. As still I don;t have that much of money so if the Deposit has a record of less than 6 months; in fact I will deposit the whole amount next month- what might happen?
I have my salary account at a different bank. My office will provide the record of gross payment for each financial year. (like pf, fringe benefits, basic salary) and I can get the statement of the salary account for last 6 months.
Any suggestion what will be the best
Say I get ITA and I haven't got the the necessary funds in my account. I intend to ask my parents to make transfers to my account from their account after i receive ITA.
I will then take the statements. Is that valid?
I will then take the statements. Is that valid?
Settlement Funds
Principal Applicant (P.A.) for Canadian Immigration applications, under Federal Skilled Worker (FSW) category have to prove that they have sufficient settlement funds available, at the time of making an application for Permanent Residence of Canada and also at the time of landing in Canada. These funds should be transferable funds.
The amount of settlement funds, depend on the size of the family, which includes both spouses and accompanying children. For example if you are single and not married the amount needed is only for 1 person. In your case you are married it means , you and your spouse (2 persons). And if you are married with two children it means settlement funds for 4 persons( 2 adults and 2 children).
The following table will show you the total funds needed, depending upon your situation and number of family members in your application. These funds must be your own funds. Property cannot be shown against this fund, unless it has been sold and money available.
The amount of money you need to support your family is set by the size of your family. We update these amounts every year.
Number of Family Members Funds Required (CAD)
1-$ 11,824
2-$ 14,720
3-$ 18,097
4-$ 21,971
5-$ 24,920
6-$ 28,105
7-$ 31,291 or more
You do not have to show that you have these funds if:
you have a valid offer of arranged employment in Canada AND
you are currently working or authorized to work in Canada
The proof of funds can be in the name of the Principal Applicant or his / her accompanying spouse, in the following forms:
Certified Letters from the bank/s confirming funds available.
Certified Bank Statements mentioning the name, address and account number of applicant and OR accompanying spouse..
Certified Fixed term deposit statements/ en-cashable.
Cash investments / bonds / certificates that are redeemable.
Any funds in individual or joint name with spouse.
Money in provident funds held with current or past employers that can be cashed out.
Life Insurance redeemable policies etc.
VALUE OF PROPERTIES OWNED ARE NOT ACCEPTED AS VALID PROOF OF FUNDS
Some countries also have specific forms to be completed for availability of funds.
How much money should you bring into Canada when you come here?
It is a good idea to research how much it costs to live in the place where you plan to settle in Canada.
Bring as much money as you can to make moving and finding a home in Canada easier.
Note, however, that Canadian customs regulations require you to declare if you are bringing more than C$10,000 into Canada. If you do not tell them, you may be fined or put in prison.
These funds could be in the form of:
cash
documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.) or
documents that guarantee payment of a set amount of money, which are payable to you (such as bankers' drafts, cheques, travellers' cheques or money orders).
The amount of money you need to support your family is set by the size of your family. We update these amounts every year.
Principal Applicant (P.A.) for Canadian Immigration applications, under Federal Skilled Worker (FSW) category have to prove that they have sufficient settlement funds available, at the time of making an application for Permanent Residence of Canada and also at the time of landing in Canada. These funds should be transferable funds.
The amount of settlement funds, depend on the size of the family, which includes both spouses and accompanying children. For example if you are single and not married the amount needed is only for 1 person. In your case you are married it means , you and your spouse (2 persons). And if you are married with two children it means settlement funds for 4 persons( 2 adults and 2 children).
The following table will show you the total funds needed, depending upon your situation and number of family members in your application. These funds must be your own funds. Property cannot be shown against this fund, unless it has been sold and money available.
The amount of money you need to support your family is set by the size of your family. We update these amounts every year.
Number of Family Members Funds Required (CAD)
1-$ 11,824
2-$ 14,720
3-$ 18,097
4-$ 21,971
5-$ 24,920
6-$ 28,105
7-$ 31,291 or more
You do not have to show that you have these funds if:
you have a valid offer of arranged employment in Canada AND
you are currently working or authorized to work in Canada
The proof of funds can be in the name of the Principal Applicant or his / her accompanying spouse, in the following forms:
Certified Letters from the bank/s confirming funds available.
Certified Bank Statements mentioning the name, address and account number of applicant and OR accompanying spouse..
Certified Fixed term deposit statements/ en-cashable.
Cash investments / bonds / certificates that are redeemable.
Any funds in individual or joint name with spouse.
Money in provident funds held with current or past employers that can be cashed out.
Life Insurance redeemable policies etc.
VALUE OF PROPERTIES OWNED ARE NOT ACCEPTED AS VALID PROOF OF FUNDS
Some countries also have specific forms to be completed for availability of funds.
How much money should you bring into Canada when you come here?
It is a good idea to research how much it costs to live in the place where you plan to settle in Canada.
Bring as much money as you can to make moving and finding a home in Canada easier.
Note, however, that Canadian customs regulations require you to declare if you are bringing more than C$10,000 into Canada. If you do not tell them, you may be fined or put in prison.
These funds could be in the form of:
cash
documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.) or
documents that guarantee payment of a set amount of money, which are payable to you (such as bankers' drafts, cheques, travellers' cheques or money orders).
The amount of money you need to support your family is set by the size of your family. We update these amounts every year.
I see that you've taken this from http COLON //www DOT canadaeasyvisa DOT com/requirements-funds DOT htmlITA4Sure said:
It is a good habit to attribute source if material is taken from somewhere else. This appears to be an immigration firm and I'm not sure how valid their claims are, but appears to make sense. So investments in bonds and certificates that are redeemable are okay?
I took a personal loan of 19,000 CAD a couple of months ago for personal reasons (unrelated to immigration). If I settle this loan today.. by the time I receive my ITA I should still have sufficient funds for PR application. My major concern is that I don't want the CIC to see a huge amount appearing on my balance certificate when actually lodging the PR application.
Would it be advisable to settle this loan for the time being until I complete my PR application? Or should I just keep the loan amount in my account and explain to the CIC that I am able to settle the loan before arriving to Canada..basically that even with the loan, my funds are sufficient for PR application purposes.
Thanks,
SIsm
Would it be advisable to settle this loan for the time being until I complete my PR application? Or should I just keep the loan amount in my account and explain to the CIC that I am able to settle the loan before arriving to Canada..basically that even with the loan, my funds are sufficient for PR application purposes.
Thanks,
SIsm