Hello,
I am planning to apply to the Express Entry program and hoping to get the ITA sometime next month. Most of my required documents are ready and now I am working to get the documents for the proof of funds. That is where I had some queries; My salary came through the bank but I always withdrew the money to cover expenses and to invest in different projects so I do not have any hard cash in the bank. Following is how I am planning to meet the $12300 quota:
- I have a DPS account associated with the same bank as my salary account worth $4000 at this moment and is set to mature in a year but I am ready to withdraw the money right away and keep it in my salary account as liquid cash.
- My company has a shared provident fund for all the employees and I will be receiving a minimum of $4500 at the time of my resignation and my company has agreed to attest to that in their official letterhead.
- I have sold my motorcycle for $4000 and I have a notarized letter of the transaction.
- My father has agreed to give me $5000 as a gift from the money he got from selling a property.
I know that it exceeds the minimum requirements but hey its better to be safe than sorry right
P.S. None of the money stated above are in my account right now, I will deposit them over the course of the next month after I get the ITA.
Now my queries are that
1. Do I have to break my DPS or is there some way I can show it as it is?
2. Do I have to show any other documents regarding the provident fund?
3. Do I need to notarize the gift deed for the money my father is giving me or would a plain letter be enough?
4. Do I need to show where the money my father gifted me came from, i.e. the papers for the sale of the property?
5. Should I write a letter of explaination regarding all these transactions in a short period of time?
6. Are there any other documents that I need to submit?
7. I read somewhere that the bank needs to attest about any outstanding loans, but my bank will not explicitly mention that but will give me a solvency letter for my account stating that my account in their bank is solvent, is that enough?
I would love to get your input in these.
Thanks in advance
I am planning to apply to the Express Entry program and hoping to get the ITA sometime next month. Most of my required documents are ready and now I am working to get the documents for the proof of funds. That is where I had some queries; My salary came through the bank but I always withdrew the money to cover expenses and to invest in different projects so I do not have any hard cash in the bank. Following is how I am planning to meet the $12300 quota:
- I have a DPS account associated with the same bank as my salary account worth $4000 at this moment and is set to mature in a year but I am ready to withdraw the money right away and keep it in my salary account as liquid cash.
- My company has a shared provident fund for all the employees and I will be receiving a minimum of $4500 at the time of my resignation and my company has agreed to attest to that in their official letterhead.
- I have sold my motorcycle for $4000 and I have a notarized letter of the transaction.
- My father has agreed to give me $5000 as a gift from the money he got from selling a property.
I know that it exceeds the minimum requirements but hey its better to be safe than sorry right
P.S. None of the money stated above are in my account right now, I will deposit them over the course of the next month after I get the ITA.
Now my queries are that
1. Do I have to break my DPS or is there some way I can show it as it is?
2. Do I have to show any other documents regarding the provident fund?
3. Do I need to notarize the gift deed for the money my father is giving me or would a plain letter be enough?
4. Do I need to show where the money my father gifted me came from, i.e. the papers for the sale of the property?
5. Should I write a letter of explaination regarding all these transactions in a short period of time?
6. Are there any other documents that I need to submit?
7. I read somewhere that the bank needs to attest about any outstanding loans, but my bank will not explicitly mention that but will give me a solvency letter for my account stating that my account in their bank is solvent, is that enough?
I would love to get your input in these.
Thanks in advance