Proof of Funds (Asivad Anac please reply)

[rajanvnv]

I agree with you what you have said.
I am a single applicant with POF requirement of around 12,000 CAD. I have shown 12k ( Savings+ Fixed Deposit) and 12 K (Listed Stocks) and 2k ( Credit Card liabilities) with net worth being CAD 22k which is way higher than required.
Hope it wont be an issue?
What do you say?

I think you are good and I do not see any issues. Your proof of stocks is anyway over the limit and hence shouldn't be a problem.

 

[sikkavarun]

And what about the liabilities? If we have a loan or credit cards, do we have to show that?

 

[krsenthilkumaran]

Hi,

I had invested in some gold jewelry around 1.5 years back. I have VAT paid bills for the same. Can I show that as a proof of funds?

If I cannot then, If I can sell them and put the money in a Fixed Deposit, will that suffice? Request for the support. Thanks.

Exactly, I did the same. I also submitted my purchase receipts and sale deed as supporting docs.

OINP accepted it.

 

[rajanvnv]

And what about the liabilities? If we have a loan or credit cards, do we have to show that?

Yes, in an ideal scenario. But I really doubt how many of them are candidly declaring such liabilities. One thing to keep in mind is that if you are providing your 6 months Bank statements and you have your loan installments (or EMI's) being serviced from your account, then it is advisable to declare it.

 

[CanadaWeCome]

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

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).

The above is the extract from CIC's website.

What do you say?

I suggest please do not confuse between PoF and How much money and in what form a person can bring to Canada.

 

[krsenthilkumaran]

And what about the liabilities? If we have a loan or credit cards, do we have to show that?

You can ignore them.

Provided you are not submitting the bank statement of the account where your EMI is being debited on a regular basis.

 

[GAVEN985]

Dear All

I wanted to confirm that post ITA and while processing and uploading all the documents online through EE. once the applicant has to pay the fees online through valid credit cards. Is it necessary that the amount to be paid through applicant credit card only or else we can use credit card of other person if possible.

Can anyone please confirm this doubt. Will be really thankful

 

[krsenthilkumaran]

Dear All

I wanted to confirm that post ITA and while processing and uploading all the documents online through EE. once the applicant has to pay the fees online through valid credit cards. Is it necessary that the amount to be paid through applicant credit card only or else we can use credit card of other person if possible.

Can anyone please confirm this doubt. Will be really thankful

As far as i know, No such requirement. You can pay using other person card.

 

[honeyarya]

Guys

Is there any format for Bank Letter to show POF.

Or bank statement will work.