Proof of Funds (Express Entry)

[melmathews]

yes you would need to show the trail of the money used for these FDs. Also you would need a declaration from your spouse that she allows you to utilize the funds for immigration purpose and she will be accompanying you upon receiving the COPR

Thanks Vishal

 

[gpsingh12]

Guys,

Is there a source to confirm that ongoing loan shouldn't be an issue if my account balance is more than the required amount.

Also, can I show PPF as POF ?

 

[vishalg]

Guys,

Is there a source to confirm that ongoing loan shouldn't be an issue if my account balance is more than the required amount.
There are many applicants who can confirm that but it is nowhere written on CIC website
Also, can I show PPF as POF ?
PPF is not accepted as there is a clause on withdrawal, how much you can and for what purpose and after how many years etc.
You can show EPF.

 

[modupetemi]

Hello everyone....Pls advise

A good samaritan (family friend actually) whom i had discussed this canadian journey with at the beginning of the year and whom i complained to about the amount of money i would need to have in my account as pof, suddenly asked her trust fund manager to transfer close to 20,000CAD into my acct today.

Nw I wasn't expecting it cos she didn't assure me she would do so nd when i called she said she was borrowing me for my pof.

I haven't received ITA yet. Bt I'm already thinking.... when i eventually do, where would i say i got 20,000CAD from? Although the name of the sender was ***** marina trust Ltd bt i dnt av evidence that i did any investment with them or that i have any trust fund with them.

What do i do pls?

 

[Bayparc]

Hi,
I have my required funds in my personal company account and I intend to transfer into my savings account to show, Does anyone know if that is acceptable as POF? also I would appreciate inputs on possible documents I might need to show proof.

@Mavericks and other experts I really need your help because this is the only document delaying my submission. Thanks

 

[Al Mahmud]

Guys, sorry for coming up with so many questions !

Let's say I have 10k in my account which just got added two months ago and I have proper explanation for 7k. 3k also belongs to me but because of lack of evidence I don't wish to claim this money as POF. So is it okay claim 7k for pof and add more money with proof of source leaving 3k as not part of POF though all balance will add up in the current balance. Balance substracting 3k will be above threshold of LICO. Also if i transfer this 3k to another account, will sudden drop raise any red flag?

Thanks !!

 

[vishalg]

Hello everyone....Pls advise

A good samaritan (family friend actually) whom i had discussed this canadian journey with at the beginning of the year and whom i complained to about the amount of money i would need to have in my account as pof, suddenly asked her trust fund manager to transfer close to 20,000CAD into my acct today.

Nw I wasn't expecting it cos she didn't assure me she would do so nd when i called she said she was borrowing me for my pof.

I haven't received ITA yet. Bt I'm already thinking.... when i eventually do, where would i say i got 20,000CAD from? Although the name of the sender was ***** marina trust Ltd bt i dnt av evidence that i did any investment with them or that i have any trust fund with them.

What do i do pls?

if you can't prove it then CIC will believe the funds are borrowed. You have to show a legal document against the credit of the funds. Ask any of your relatives to give you a gift and get this money directly transferred to their account.

 

[vishalg]

Guys, sorry for coming up with so many questions !

Let's say I have 10k in my account which just got added two months ago and I have proper explanation for 7k. 3k also belongs to me but because of lack of evidence I don't wish to claim this money as POF. So is it okay claim 7k for pof and add more money with proof of source leaving 3k as not part of POF though all balance will add up in the current balance. Balance substracting 3k will be above threshold of LICO. Also if i transfer this 3k to another account, will sudden drop raise any red flag?

Thanks !!

minimum required amount should be yours. Keep a little bit extra above the LICO. For eg. If your LICO is 13k then keep your current balance little bit higher than 16k ( extra to cover up any exchange fluctuations say about $1000)

 

[vishalg]

Guys, sorry for coming up with so many questions !

Let's say I have 10k in my account which just got added two months ago and I have proper explanation for 7k. 3k also belongs to me but because of lack of evidence I don't wish to claim this money as POF. So is it okay claim 7k for pof and add more money with proof of source leaving 3k as not part of POF though all balance will add up in the current balance. Balance substracting 3k will be above threshold of LICO. Also if i transfer this 3k to another account, will sudden drop raise any red flag?

Thanks !!

minimum required amount should be yours. Keep a little bit extra above the LICO. For eg. If your LICO is 13k then keep your current balance little bit higher than 16k ( extra to cover up any exchange fluctuations say about $1000). Don't transfer 3k let it be there. You can try and explain through LOE that 3k is yours, even if they don't consider it, you're still above the required funds.

 

[Al Mahmud]

minimum required amount should be yours. Keep a little bit extra above the LICO. For eg. If your LICO is 13k then keep your current balance little bit higher than 16k ( extra to cover up any exchange fluctuations say about $1000). Don't transfer 3k let it be there. You can try and explain through LOE that 3k is yours, even if they don't consider it, you're still above the required funds.

Thanks a lot vishalg. I really appreciate your help and advice.

 

[hassaan_anwar]

Guys,

I wanted to know if i deposit CAD 12,000/- in my account for which have a gift deed for CAD7000 and a receipt of CAD 5000(selling gold) will it be an issue for POF and a cause of rejection? i will be explaining it in the LOE however as this amount will hit my account all of a sudden will it then be an issue? i plan to give 6 months bank statement. My application is for one person and as per my application i will be bringing CAD 12,300/-

Please advise

 

[iverma]

Hi ,

I have a home loan.
When I showcase pof, I will have to showcase this loan also?
If yes how can I show that I have a loan and also an asset to counter the same.

 

[vishalg]

Guys,

I wanted to know if i deposit CAD 12,000/- in my account for which have a gift deed for CAD7000 and a receipt of CAD 5000(selling gold) will it be an issue for POF and a cause of rejection? i will be explaining it in the LOE however as this amount will hit my account all of a sudden will it then be an issue? i plan to give 6 months bank statement. My application is for one person and as per my application i will be bringing CAD 12,300/-

Please advise

This is fine as you are also uploading the trail of money.

 

[vishalg]

Hi ,

I have a home loan.
When I showcase pof, I will have to showcase this loan also?
If yes how can I show that I have a loan and also an asset to counter the same.

Home loan is not a problem. Go ahead without any worries. CIC is concerned only if you have taken loan for POF.

 

[hassaan_anwar]

This is fine as you are also uploading the trail of money.

Thanks Vishalg