Proof of Fund - FSW EE - 6 Months Balance

[syeduzairhaider]

I have a query regarding Proof of Fund for FSW Express Entry.

As per CIC for since I will be coming to Canada alone I need to have $12,164 (Canadian dollar) in my account. The bank letter should also state the current balance of each account as well as the average balance in the past six months.

I am confused regarding the six month average balance. I am about to make my EE profile this month and have enough points over 450 so I expect to get my ITA in next draw. Currently, I don't have the amount and I will be getting the funds from my father as a gift. So if I deposit the amount now in my account I would only be having one month balance of required $12,164 (Canadian dollar).

What you people suggest?
1. Should I put the money in my bank account now and wait for five months so that I can have an average bank statement with $12,164 (Canadian dollar)? and I will make my EE profile after 5 months.
2. Or is it fine if my father can sign me a gift deed along with a legal notarized letter that he has given me the funds as a gift. In that case I can make my profile now but my average bank balance would be very low but the current balance would have the stated amount. Just to make it clear my father sponsored my MBA from UK. He paid the fees and living expense while I was in UK.

Thanks and looking to a positive response.

 

[CanadaWeCome]

I have a query regarding Proof of Fund for FSW Express Entry.

As per CIC for since I will be coming to Canada alone I need to have $12,164 (Canadian dollar) in my account. The bank letter should also state the current balance of each account as well as the average balance in the past six months.

I am confused regarding the six month average balance. I am about to make my EE profile this month and have enough points over 450 so I expect to get my ITA in next draw. Currently, I don't have the amount and I will be getting the funds from my father as a gift. So if I deposit the amount now in my account I would only be having one month balance of required $12,164 (Canadian dollar).

What you people suggest?
1. Should I put the money in my bank account now and wait for five months so that I can have an average bank statement with $12,164 (Canadian dollar)? and I will make my EE profile after 5 months.
2. Or is it fine if my father can sign me a gift deed along with a legal notarized letter that he has given me the funds as a gift. In that case I can make my profile now but my average bank balance would be very low but the current balance would have the stated amount. Just to make it clear my father sponsored my MBA from UK. He paid the fees and living expense while I was in UK.

Thanks and looking to a positive response.

No need to wait for 5 months, you can create the profile now once your father gifts you and you have the gift deed.

 

[syeduzairhaider]

No need to wait for 5 months, you can create the profile now once your father gifts you and you have the gift deed.

Thanks, so the six months average balance requirement is not necessary. I can create the profile now, and if i get my ita this month i can show the gift deed along with the bank statement?

 

[CanadaWeCome]

Thanks, so the six months average balance requirement is not necessary. I can create the profile now, and if i get my ita this month i can show the gift deed along with the bank statement?

Six months bank statement is necessary, but if your balance is > LICO you should be good.

 

[MZASAM]

Please don't worry.

If you wish please follow.

•PA Letter of Explanation, Affidavit Settlement / Proof of Funds
•PA 6 Months Bank Statement
•PA Bank letter stating Indian Rupees & Equivalent CAN $
• PA Salary Stubs Seven Months

•Father, Original legal Gift Deed
•Father, Original Affidavit
•Father, Bank letter stating Indian Rupees & Equivalent CAN $
•Father, Property, Net Worth Certificates from Chartered Accountant, Chartered Engineer
 

 

[syeduzairhaider]

Six months bank statement is necessary, but if your balance is > LICO you should be good.

Sorry, I didn't get that.

 

[StAnger]

Sorry, I didn't get that.

The sole purpose to ask 6 months average balance is to decipher if you have had any large deposits which could translate to you having taken a loan to meet the funds requirements. As long as you can prove that the funds belongs to you in its enterity, you will be fine. Havings said that cic will need either your 6 months average balance on a letter issued by bank or you can attach 6 monthly statement. In case you decide to borrow funds from your blood relative, you will need a gift deed from the donor.

 

[syeduzairhaider]

The sole purpose to ask 6 months average balance is to decipher if you have had any large deposits which could translate to you having taken a loan to meet the funds requirements. As long as you can prove that the funds belongs to you in its enterity, you will be fine. Havings said that cic will need either your 6 months average balance on a letter issued by bank or you can attach 6 monthly statement. In case you decide to borrow funds from your blood relative, you will need a gift deed from the donor.

Thanks for the explanation. Sure, I can get six months bank statement and yup, I will get it from my father and I will get the gift deed + loe.

 

[STazH]

I have received ITA under the FSW program. I am going to show the bank balance from my bank back home but since I have been living in Canada for the past 2 years as an international student, do I need to show the balance from my Canadian bank account? Thanks.

 

[uppperkut]

I have received ITA under the FSW program. I am going to show the bank balance from my bank back home but since I have been living in Canada for the past 2 years as an international student, do I need to show the balance from my Canadian bank account? Thanks.

There's no requirement on which bank to show in the POF. As long as the money in your bank back home is accessible, sufficient and meets the requirements (not being borrowed, etc.), you should be ok.