Pls help Asivad Anac

[fatehelps]

Dear Asivad,

I have been invited to apply (ITA) under express entry. Frankly, I have not planned enough funds to show proof of funds during the prescribed 60 days and hence I am in a dilemma to continue or decline invitation. Thro' your previous posts, I am aware that declining my application doesn't make any negative impact on consideration against future draws.

While filling my information in the questionnaire, I am shocked to see that they have asked me to submit statements of over 6 months of all accounts I hold. Pls advice is it required to show proof all bank accounts or just the accounts I am managing funds for immigration.

I assumed if I maintain balance for up to 6 months, it would suffice. Pls advice if more than 6 months statement is required.

Just in case when I apply and get rejected, does CiC cite reasons for rejecting the application. I read other topics in the forum written by rejected applicants quoting no proper reasons for rejection. For a family of 3, i had to pay CAD1250 and this huge amount of money will be on high risk, if my application is not strong. So I am kind of worried. Also mention if there is any appeal that I make for reconsidering the same (not fresh / new) application. UK visas can be appealed against any rejection.

 

[Asivad Anac]

Dear Asivad,

I have been invited to apply (ITA) under express entry. Frankly, I have not planned enough funds to show proof of funds during the prescribed 60 days and hence I am in a dilemma to continue or decline invitation. Thro' your previous posts, I am aware that declining my application doesn't make any negative impact on consideration against future draws.

While filling my information in the questionnaire, I am shocked to see that they have asked me to submit statements of over 6 months of all accounts I hold. Pls advice is it required to show proof all bank accounts or just the accounts I am managing funds for immigration.

Just that account would do.

I assumed if I maintain balance for up to 6 months, it would suffice. Pls advice if more than 6 months statement is required.

6 months is good. Ensure that you don't borrow the money from anywhere. It can even be less than 6 months if you sell an asset(s) and show the sale proceeds as your POF.

Just in case when I apply and get rejected, does CiC cite reasons for rejecting the application. I read other topics in the forum written by rejected applicants quoting no proper reasons for rejection. For a family of 3, i had to pay CAD1250 and this huge amount of money will be on high risk, if my application is not strong. So I am kind of worried. Also mention if there is any appeal that I make for reconsidering the same (not fresh / new) application. UK visas can be appealed against any rejection.

CIC does provide detailed explanations for refusing an application. Under EE, there is very limited recourse available. Empathy has been traded in for Expediency.

 

[fatehelps]

when I got funds maintained for 6 months, how would CiC find out if the funds are own or borrowed?? Obviously all funds are not own and some amount will be borrowed. So please enlighten my situation.

 

[Asivad Anac]

when I got funds maintained for 6 months, how would CiC find out if the funds are own or borrowed?? Obviously all funds are not own and some amount will be borrowed. So please enlighten my situation.

Avoid borrowing funds to show as POF. Period.

CIC can ask you for source of funds during the process even if the funds are maintained for 6 months. At that point in time, your application will be refused when you declare that some of these funds were borrowed.

 

[fatehelps]

Does Cic ask for source of income to all applicants who apply? I didn't know about it.

If 6 months are not long enough, how long would it suffice??

 

[Asivad Anac]

They can and do ask for source of funds if they have any doubts on the POF end. Technically, 6 months are long enough but borrowing funds is still a risk with an attached non-zero probability of being asked for source of funds during the process.

 

[fatehelps]

Can jewellery be accepted as POF? If no, can I sell them and submit the sale receipt which is acceptable by CiC?

 

[Hansdza]

fatehelps, you should listen to Asivad's advice.. no matter what the situation is, DO NOT borrow fund for your EE application. If your application is approved, you do need this cash to survive in Canada. You might or might not be successful in playing hide and seek with CIC to borrow cash and keep it for 6 month and return it afterward. My advice, don't do that. If I am not mistaken when you land in the border , the officer will ask your proof of fund as well.

 

[One_Topsy]

Can jewellery be accepted as POF? If no, can I sell them and submit the sale receipt which is acceptable by CiC?

Listen to the Elders :-\ :-X

 

[fatehelps]

I asked about selling Jewellery and paying them into POF funds. Nobody answered.

 

[Asivad Anac]

Can jewellery be accepted as POF? If no, can I sell them and submit the sale receipt which is acceptable by CiC?

You can certainly sell your jewelry to showcase POF. You'll have to get a proper sale receipt along with evidence that the sale proceeds were deposited into your account.

 

[fatehelps]

I guess all misunderstood me by saying I borrowed. It means I borrowed from my family (dad), where I am not obligated to return the same. They can write and sign the letter saying the funds need not be returned. Say if this document is acceptable.

I personally hold some part of savings for showing POF.

 

[fatehelps]

You can certainly sell your jewelry to showcase POF. You'll have to get a proper sale receipt along with evidence that the sale proceeds were deposited into your account.

Thanks. Other than proper sale receipt, what other evidence (you specified) is required??

 

[Asivad Anac]

I guess all misunderstood me by saying I borrowed. It means I borrowed from my family (dad), where I am not obligated to return the same. They can write and sign the letter saying the funds need not be returned. Say if this document is acceptable.

I personally hold some part of savings for showing POF.

This is feasible.

Check this thread for more ---> http://www.canadavisa.com/canada-immigration-discussion-board/a-complete-way-to-nail-source-of-fund-dilemma-t349224.0.html

Thanks. Other than proper sale receipt, what other evidence (you specified) is required??

Evidence would include bank transaction statements showing that the money came into your account on the said date.

 

[nirav277]

Hi.

Thanks for your reply. I had another query,

Initially when he had created the profile, we had mentioned that we would funds of approx 18,000 CAD both me and my wife put together...

However, while uploading the docs for POF, it is allowing only the primary applicant to upload... So for only 1 person we have around 15000CAD which is above the limit as specified by CIC for 2 people...

Are we still safe or should we transfer the funds to make it to 18,000 CAD

Please reply...

Thanks & Regards..
Nirav