Proof of Funds - Comprovation

[lopesfla_]

Hello,

I have a doubt about give the comprovation of my proof of funds.
When I register myself to Express Entry I already need to have all the $15.143 (for a couple)? Or I need to have this money when I receive the ITA? Or I need to have all this money six months before register myself to Express Entry?

All the information I found is that I need to show my average balance for the past six months, but I'm not sure if I need to prove that I have all the value during the past six months.

Can anyone explain this?

Thanks!

 

[gseran]

Hi
Ideally you'll need to show proof of the required funds (15142$ in your case) for six months before the time you submit the application, which is after you receive an ITA. This can be from your savings or deposits. But since you're only required to submit 3 months bank statement, I suppose three months proof will suffice. However, if your parents are helping you with the funds, you only need a gift deed stating that such money has been gifted to you by them, in which case that money needn't have been in your account for 3 months.

Hope that helped.

Cheers!

 

[CanadaWeCome]

Hello,

I have a doubt about give the comprovation of my proof of funds.
When I register myself to Express Entry I already need to have all the $15.143 (for a couple)? Or I need to have this money when I receive the ITA? Or I need to have all this money six months before register myself to Express Entry?

All the information I found is that I need to show my average balance for the past six months, but I'm not sure if I need to prove that I have all the value during the past six months.

Can anyone explain this?

Thanks!

You need to show these funds as available and unencumbered since last six months from the date you submit your eAPR as per the bank statement along with the rest of the requirements for the bank letter.

 

[CanadaWeCome]

Hi
Ideally you'll need to show proof of the required funds (15142$ in your case) for six months before the time you submit the application, which is after you receive an ITA. This can be from your savings or deposits. But since you're only required to submit 3 months bank statement, I suppose three months proof will suffice. However, if your parents are helping you with the funds, you only need a gift deed stating that such money has been gifted to you by them, in which case that money needn't have been in your account for 3 months.

Hope that helped.

Cheers!

3 months is not acceptable by IRCC.

 

[pavanvk]

The required funds have been changed recently: Show proof of funds accordingly.
In any case having about $500 more than the required level is appreciated if the funds are in foreign currency.
You never know how the Canadian $ value changes

1 $12,300
2 $15,312
3 $18,825
4 $22,856
5 $25,923
6 $29,236
7 or more $32,550

 

[DelPiero07]

You need to show these funds as available and unencumbered since last six months from the date you submit your eAPR as per the bank statement along with the rest of the requirements for the bank letter.

Absolutely incorrect.

As long as the applicant has the required funds when submitting the eAPR that's what IRCC cares about.

IRCC understands that an applicant can be working and depositing one's salary to meet those funds, there is no such rule that one must have those funds for the past 6 months.

Source: Avisad and couple friends who already have PR.

 

[gseran]

Absolutely incorrect.

As long as the applicant has the required funds when submitting the eAPR that's what IRCC cares about.

IRCC understands that an applicant can be working and depositing one's salary to meet those funds, there is no such rule that one must have those funds for the past 6 months.

Source: Avisad and couple friends who already have PR.

If the funds were recently acquired, will that be a reason to reject application?

Thanks!

 

[DelPiero07]

If the funds were recently acquired, will that be a reason to reject application?

Thanks!

Depends on where those funds are coming from, they must belong to you and not be obtained as a loan.

 

[gseran]

Yes, I understand. Thanks!