I didnt submit any bank statement previously.. i just submitted a bank letter.. Now I am planning to submit my bank statements. But I am just confused as what to write in letter of explanation..Also own an apartment in my wife' name which we are planning to sell if we get PR..should i mention that too..They have requested average balance of past 6 months and an written LOE...
"Plan" to sell apartment is not going to work now because IRCC explicitly said applicants need to submit readily available unencumbered proof of fund. Try to provide bank letter with six months average balance as per their requirement. If your bank unable to provide such letter then get the standard letter with six months bank statement. You need to write a letter of explanation where you must disclose the source of the fund such as Salary, Gift, Sale of property etc.(You should provide gift deed or sales receipt in such cases). In case you have deposited money from other account owned by you or your spouse then include that statement too.
It is a good sign that you have movement in you file (June out land applications have started to rollover) and I believe your application is at last stage, once you provide satisfactory answer to pof query your application will be approved.
Good luck!
IRCC requirements for Bank Letter-
What we accept as proof
Funds must be readily available to you. For example, you can't use equity on real property as proof of settlement funds.
The funds must be available both when you apply and when (if) we issue you a permanent resident visa. You must prove to an immigration officer that you can legally access them to use to settle here when you arrive.
For proof, you must get official letters from any banks or financial institutions where you are keeping money.
Letter(s) must:
- be printed on the financial institution’s letterhead
- include their contact information (address, telephone number and email address)
- include your name
- list outstanding debts such as credit card debts and loans
- include, for each current bank and investment account:
- account numbers
- the date each account was opened
- the current balance of each account
- the average balance for the past six months
https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/documents/proof-funds.html