Proof of Funds (Express Entry)

[vishalg]

That would not be a problem. Just one more question for reassurance: Having outstanding loan is no problem then for the VISA officer, as long as the current amount is debt free? I really have the nightmares of getting rejected because of outstanding debts from the bank of about CAD 2000.

So far people with home loans, car loans and loans for consumer durables have received their PPR. The only condition is that the required funds shouldn't be accumulated through a loan.

 

[omarkhan]

So far people with home loans, car loans and loans for consumer durables have received their PPR. The only condition is that the required funds shouldn't be accumulated through a loan.

Thanks a lot vishalg. Thats a relief!

 

[vishalg]

Thanks a lot vishalg. Thats a relief!

Best of luck

 

[mooncef]

Y

You only need the check number used for transaction or RTGS transaction details, rest the notary will do.
Also both the donor and donee should be present there.

So i just contacted the notary ! and she said she doesn't do donations of cash but only goods ! I checked with the comune they said i should check with a notary ! i'm stuck i guess ! I have in parallel a company acount but i don't think this would be valid as POF since i don't have total freedom in the money !

 

[KiranK]

So i just contacted the notary ! and she said she doesn't do donations of cash but only goods ! I checked with the comune they said i should check with a notary ! i'm stuck i guess ! I have in parallel a company acount but i don't think this would be valid as POF since i don't have total freedom in the money !

Which country you are in?
I am from India and i can tell you that here it is very easy to find a notary to get cash gift deed done. its like going to a shop and asking for candy, you pay up , give details and get it.
The only way i think is that you will have to find a notary or lawyer willing to make your deed, there must be someone out there.
Yes, your company account won't do, if you don't have full, complete authority and right over that money.

 

[mooncef]

Which country you are in?
I am from India and i can tell you that here it is very easy to find a notary to get cash gift deed done. its like going to a shop and asking for candy, you pay up , give details and get it.
The only way i think is that you will have to find a notary or lawyer willing to make your deed, there must be someone out there.
Yes, your company account won't do, if you don't have full, complete authority and right over that money.

i am the sole owner of the company but yet as you know it's hard to get liquidity quickly from company ! accountability and stuff ! but i'm the sole owner !
i'm based in morocco ! i will check with other notaries ! Thanks for your replies they help tremendously

 

[KiranK]

i am the sole owner of the company but yet as you know it's hard to get liquidity quickly from company ! accountability and stuff ! but i'm the sole owner !
i'm based in morocco ! i will check with other notaries ! Thanks for your replies they help tremendously

Yes, i understand your problem there.
Wish you all the best

 

[systix]

Just to be on the safe side, applying with spouse with ITA, all bank accounts are joint accounts, thinking of sending in an affidavit from spouse as well declaring funds meant to be used for supporting self and family.

QUESTION: Is there a format for affidavit for spouse to sign and declare the same?

 

[xibalban]

Hi fellas,

I see that an amount of CAD 12300 is required as PoF for a single applicant. Can this fund be exact amount?
Or, since there will be additional funds required to be borne like IRCC fees of CAD 1040 and Flight Tickets, etc.
Hence, my PoF must display that I also have those additional funds available, or doesn't it?

 

[KiranK]

Hi fellas,

I see that an amount of CAD 12300 is required as PoF for a single applicant. Can this fund be exact amount?
Or, since there will be additional funds required to be borne like IRCC fees of CAD 1040 and Flight Tickets, etc.
Hence, my PoF must display that I also have those additional funds available, or doesn't it?

Yes it can be exact amount, but as the dollar keeps fluctuating, if your funds in another currency keep it a little above the least IMO.
You will be paying CIC the 1040 CAD at the time of applying then only your application is submitted, so they do not need to see that amount in your funds, as you already pay them before hand.
For additional expenses you do not need to show in your POF, but yes, do keep a little bit above the least IMO.

 

[xibalban]

Yes it can be exact amount, but as the dollar keeps fluctuating, if your funds in another currency keep it a little above the least IMO.
You will be paying CIC the 1040 CAD at the time of applying then only your application is submitted, so they do not need to see that amount in your funds, as you already pay them before hand.
For additional expenses you do not need to show in your POF, but yes, do keep a little bit above the least IMO.

Which implies, I might not meet my $12300 when I land. Will the same PoF prevail when I land?

 

[KiranK]

Which implies, I might not meet my $12300 when I land. Will the same PoF prevail when I land?

Yes, the same POF prevails, but you also should have the minimum amount in account available if they need any current verification.
Summing up- You need minimum 12300 CAD in your account maintained at all costs from the very beginning of launching your file till you land.
Any other expense like file fee, tickets etc. are not included in this, those are extra expenses apart from the basic amount.
Do not use any money out of the 12300 CAD till u land.

 

[jackdawn]

Hi fellas,

I see that an amount of CAD 12300 is required as PoF for a single applicant. Can this fund be exact amount?
Or, since there will be additional funds required to be borne like IRCC fees of CAD 1040 and Flight Tickets, etc.
Hence, my PoF must display that I also have those additional funds available, or doesn't it?

Keeping a little extra amount is always safe rather than exact amount. This amount should be devoid of any expenses u have mentioned above. They may check the POF at landing so its always safe to carry POF documents for landing

 

[vishalg]

Just to be on the safe side, applying with spouse with ITA, all bank accounts are joint accounts, thinking of sending in an affidavit from spouse as well declaring funds meant to be used for supporting self and family.

QUESTION: Is there a format for affidavit for spouse to sign and declare the same?

No format, just a simple declaration would do. Ask your spouse to write that s/he allows you to utilize the funds for immigration purpose and s/he will be accompanying you upon receiving the COPR

 

[kathir_mms]

Hi - I need a help - I have all the required funds in one of my account (Kotak), have few more accounts as well (HDFC and Citi).
Also two credit cards from two difference banks (Kotak and HDFC) and No loans -
Do I need to take PoF statement from all the banks (Kotak, HDFC and Citi) or only from the bank I have the funds to show? Please help. Thanks in advance