How Much Current Balance to show in proof of funds for FSW 1 applicant

[new2canada85]

Hello, How much current balance to show in proof of funds for 1 applicant

presently i am in usa, I get 5000$ a month, i have pay stubs but my current balance is also around 5000$, is that sufficient?

please shed some light on this,

here the bank is giving, current balance and last 6 months balance in the proof of funds statement

do i need to submit proof of funds along with initial application, can i submit some properties imy family have back home in India also as proof of funds, or else get a letter from my father that he supports me with his funds,

please tell all available options, thank you very much

 

[emamabd]

Hello, How much current balance to show in proof of funds for 1 applicant

presently i am in usa, I get 5000$ a month, i have pay stubs but my current balance is also around 5000$, is that sufficient?

please shed some light on this,

here the bank is giving, current balance and last 6 months balance in the proof of funds statement

do i need to submit proof of funds along with initial application, can i submit some properties imy family have back home in India also as proof of funds, or else get a letter from my father that he supports me with his funds,

please tell all available options, thank you very much

- you need to show $11,115 USD for 1 applicant.

source: http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

- You need to submit proof of funds with the application

- the below is acceptable as proof of funds (you can refer to the same link above):

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).

 

[gursimran31]

Its mentioned in cic.gc.ca that we cannot borrow money. Currently my account does not have sufficient amount of money. I may need to borrow money. Suppose I am applying on 1st of August and my account statement shows that funds are deposited on 30th July. Will this lead to rejection?

 

[emamabd]

Its mentioned in cic.gc.ca that we cannot borrow money. Currently my account does not have sufficient amount of money. I may need to borrow money. Suppose I am applying on 1st of August and my account statement shows that funds are deposited on 30th July. Will this lead to rejection?

if you don't have any other options, then try it. you have nothing to loose.

 

[gursimran31]

Can't I take money from my family or relatives with an affidavit which says that they are gifting me the money? Some consultants are saying this will work.... Please suggest..

I have one more question.... I have worked for 2 companies.. With first company 3.5 half years and 0.5 years with other company... Do I need to produce role and responsibilty certificate of both companies or only certificate of 3.5 years will suffice... My other company is not giving me the role and responsibilty cert... and 4 years exp giving me more point.... Please suggest...

 

[pr4rajesh]

1- you need to show this much amount in your name either as saving account or fixed. This should be available in your account through out the process as we don't know when the vo check all these pertaining to your application.
2-employee reference letter is needed for all the period that you have worked.
If any of the companies is not giving , you can try getting from any of your managers stating the roles.

 

[emamabd]

Can't I take money from my family or relatives with an affidavit which says that they are gifting me the money? Some consultants are saying this will work.... Please suggest..

I have one more question.... I have worked for 2 companies.. With first company 3.5 half years and 0.5 years with other company... Do I need to produce role and responsibilty certificate of both companies or only certificate of 3.5 years will suffice... My other company is not giving me the role and responsibilty cert... and 4 years exp giving me more point.... Please suggest...

if you claim 4 years of experience on your application then you have to prove it. So yes you will need to obtain a proof from the company which you have worked for 0.5 years..

 

[future_canadian]

Can't I take money from my family or relatives with an affidavit which says that they are gifting me the money? Some consultants are saying this will work.... Please suggest..

I have one more question.... I have worked for 2 companies.. With first company 3.5 half years and 0.5 years with other company... Do I need to produce role and responsibilty certificate of both companies or only certificate of 3.5 years will suffice... My other company is not giving me the role and responsibilty cert... and 4 years exp giving me more point.... Please suggest...

Without some evidence of your duties you won't get points. If you need the extra points for 4+ years, you will have to get both.

 

[future_canadian]

Its mentioned in cic.gc.ca that we cannot borrow money. Currently my account does not have sufficient amount of money. I may need to borrow money. Suppose I am applying on 1st of August and my account statement shows that funds are deposited on 30th July. Will this lead to rejection?

Do you have other liquid and unencumbered funds, such as stocks, bonds, mutual funds, fixed deposits, similar?

You CANNOT borrow the settlement funds and you will have to demonstrate the funds at least twice--at application and at landing--and you may have to show them during processing from your local visa office.

If your family is GIVING (not lending) you money, that's fine, because then the money is yours. The money must be yours. If not, you are misrepresenting on your application and you will be rejected and banned from Canada for a minimum of 2 years.

If you do not have the minimum settlement funds and cannot acquire them honestly, you are ineligible to apply. It's as simple as that.

 

[future_canadian]

if you don't have any other options, then try it. you have nothing to loose.

This is exactly the wrong advice. He does have something to lose. If he is caught he may never set foot in Canada again even as a visitor. Sometimes they only ban you for 2 years, but the rejection is on record for life and will follow him wherever he goes. Canada shares information with other countries like the US and UK, what if he needs to apply for visas elsewhere? It's extremely risky to misrepresent on your application.

Not only that, there will be a lot of expenses when a person first moves to Canada, like putting down deposits on an apartment and supporting oneself while seeking a job. If he applies without enough funds and runs out of money he may file for public assistance. FSW is an ECONOMIC immigration program and the applicants are supposed to contribute to Canada's economy not become dependent on it.

 

[emamabd]

This is exactly the wrong advice. He does have something to lose. If he is caught he may never set foot in Canada again even as a visitor. Sometimes they only ban you for 2 years, but the rejection is on record for life and will follow him wherever he goes. Canada shares information with other countries like the US and UK, what if he needs to apply for visas elsewhere? It's extremely risky to misrepresent on your application.

Not only that, there will be a lot of expenses when a person first moves to Canada, like putting down deposits on an apartment and supporting oneself while seeking a job. If he applies without enough funds and runs out of money he may file for public assistance. FSW is an ECONOMIC immigration program and the applicants are supposed to contribute to Canada's economy not become dependent on it.

Thank you for your opinion, however i think you've gone to the far extreme

My advice was specifically regarding the statement mentioned by the poster "Currently my account does not have sufficient amount of money. I may need to borrow money." - the word "currently" here, is a key word which may indicate that he is still continuing to save money but have not acquired yet the required amount.

I'll explain to you a bit more why i wrote that advise:

Considering a scenario that - the poster did not have the amount required by CIC at the time of application - but has borrowed it to initiate the application - and continued earning and saving meanwhile, by the time his visa arrives, he would have the required amount and can immigrate with enough funds..do you feel this is misrepresentation and should lead to a ban for life and not being able to visit canada and uk and USA...etc?

I think not...its great to have everything ready at the very beginning but some people don't, as long as they can meet the financial requirements before immigrating - i feel that should be ok - its great that you have a different opinion, then the poster may see both sides.

 

[future_canadian]

Thank you for your opinion, however i think you've gone to the far extreme

My advice was specifically regarding the statement mentioned by the poster "Currently my account does not have sufficient amount of money. I may need to borrow money." - the word "currently" here, is a key word which may indicate that he is still continuing to save money but have not acquired yet the required amount.

I'll explain to you a bit more why i wrote that advise:

Considering a scenario that - the poster did not have the amount required by CIC at the time of application - but has borrowed it to initiate the application - and continued earning and saving meanwhile, by the time his visa arrives, he would have the required amount and can immigrate with enough funds..do you feel this is misrepresentation and should lead to a ban for life and not being able to visit canada and uk and USA...etc?

I think not...its great to have everything ready at the very beginning but some people don't, as long as they can meet the financial requirements before immigrating - i feel that should be ok - its great that you have a different opinion, then the poster may see both sides.

Yes that would be a misrepresentation. You may feel it should be ok but the law of Canada does not feel it is ok. It is illegal.

There is always a chance to get away with it. But he might not, and then he will have to live with the consequences, whatever they may be.

 

[emamabd]

Yes that would be a misrepresentation. You may feel it should be ok but the law of Canada does not feel it is ok. It is illegal.

There is always a chance to get away with it. But he might not, and then he will have to live with the consequences, whatever they may be.

going by the book - you are right...but humans are not perfect.

you might want to lock Canadian employers in jail as well...because they still require Canadian experience although its considered illegal/discrimination in Ontario.

 

[gursimran31]

Hey guys, I am confused..... I will be getting money from my dad and I can keep this money in my account forever but the issue is, My dad will be transferring money to my account a week before applying to fswp...Is this legal? My dad can give me an affidavit stating that I am gifting this money to my son. Is it possible that CIC will ask for my dad's account detail?
Even, I can show them statement showing that for the period of last four years, I have transferred $11000 to my dad's account and my dad is giving back my money.. Will this work??? Please help.....

 

[future_canadian]

Hey guys, I am confused..... I will be getting money from my dad and I can keep this money in my account forever but the issue is, My dad will be transferring money to my account a week before applying to fswp...Is this legal? My dad can give me an affidavit stating that I am gifting this money to my son. Is it possible that CIC will ask for my dad's account detail?
Even, I can show them statement showing that for the period of last four years, I have transferred $11000 to my dad's account and my dad is giving back my money.. Will this work??? Please help.....

If it is really a gift you are just fine. Good luck.