Proof of Funds (Express Entry)

[vishalg]

Thank you Vishalg. Please can you shed more light on the 'acceptance part'? Will it be a notary public from my end who prepares the gift deed or one from her end? And how will both signatures appear on the affidavit with us apart in distance?

Thank you

Gift deed would be from her end and the separate acceptance at your end. Local notary will be able to guide you.

 

[Vish7]

1> Fro each designation that I have held, will I need to show different NOC code?
2> Banks are providing their own formats for POF? Can I explain everything in LOE? I hope there is no limit like only 1 page for LOE per section?
3> Please if i can get some clarity on digital photo as per my earlier post.

 

[vishalg]

1> Fro each designation that I have held, will I need to show different NOC code?
If it is same across all designations then use same one, if it is different then use different.
2> Banks are providing their own formats for POF? Can I explain everything in LOE? I hope there is no limit like only 1 page for LOE per section?
Try and give them the soft copy of the format and ask them to comply with that as it is a visa mandate. If they still don't, find out what is missing and check if those things will be available in the account statements. If yes, get 6 months statements signed and stamped.
LOE isn't dependent on number of pages but the size of the placeholder. For each placeholder you are given 4mb space.
3> Please if i can get some clarity on digital photo as per my earlier post.
Haven't got a chance to go through it, will share it with you soon

 

[Vish7]

1> I have worked for 1 company over 10 years. My initial designations were Trainee - Software Development, Associate Software engineer, etc. But now I am working as an analyst since 2009. Can I show everything under NOC 2174?
2> I am taking a reference letter from my senior and it wont have salary and NOC code. It has rest all the details. is it fine?
3? while filling employment details during eAPR, I have show only 1 company from start date till date. though i was promoted to different levels.in same organisation do i need to specify \ insert same company name multiple times with each designation periods? or 1 record from start date till date is fine? If i enter multiple records, it will ask for multiple reference letters?

 

[vishalg]

1> I have worked for 1 company over 10 years. My initial designations were Trainee - Software Development, Associate Software engineer, etc. But now I am working as an analyst since 2009. Can I show everything under NOC 2174?
Can't comment on your NOC, but if duties are same across all the designations, you can use the same one
2> I am taking a reference letter from my senior and it wont have salary and NOC code. It has rest all the details. is it fine?
Try to fill in salary details. Else you will need as much documentation as possible to support your salary details. NOC is not an issue here.
3? while filling employment details during eAPR, I have show only 1 company from start date till date. though i was promoted to different levels.in same organisation do i need to specify \ insert same company name multiple times with each designation periods? or 1 record from start date till date is fine? If i enter multiple records, it will ask for multiple reference letters?
Create multiple records, one per designation. Reference letter can be a single one combining all the designations or one per designation. If you're going for a single letter then upload the same in each placeholder.

 

[Option Paralysis]

Does the bank letter explicitly need to mention that ALL accounts and debt products have been included, or is it enough to just list them along with the required details? Wondering how nitpicky CIC will be... Thanks.

 

[vishalg]

Does the bank letter explicitly need to mention that ALL accounts and debt products have been included, or is it enough to just list them along with the required details? Wondering how nitpicky CIC will be... Thanks.

Check the link, it might help
https://www.google.co.in/url?sa=t&source=web&rct=j&url=http://canadavisahelpcentre.com/the-awesome-list-of-faqs/is-there-a-fixed-format-for-the-express-entry-proof-of-funds-bank-letter/&ved=0ahUKEwiz4a2KxL_UAhUFtY8KHa7AA0kQFggcMAA&usg=AFQjCNHTq3V6BrF2WqHHxNHt5k0SUUwArA&sig2=z_AoAly8paoVDu2XVQ-ktA

 

[iraghav]

I have another question, on the same topic


I am just about to submit my documents in response to ITA (planned today). However, have a question here about funds.


1. I have a job in Canada right now (on work permit).
2. My Canadian accounts are credited with regular salary income.
3. Current Canadian account balance meets the requirement of Funds from CIC website/checklist.


However, I also read from CIC website the following piece of information -
As well, you do not need to show these funds if you are currently authorized to work in Canada and have a valid job offer.

At this link -
http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

However, the PR process website (http://cic.gc.ca) still asks me to upload a proof of funds document.

All in all I am happy to provide the documents.

The reason I am raising this question is that I intend to spend part of the money on a relatively large purchase. After the purchase though, my Canadian account balance shall fall below the threshold by CIC.

My question here is, should i go ahead with my planned purchase, or should i wait for some time (in PR processing).

Please suggest.

 

[vishalg]

I have another question, on the same topic


I am just about to submit my documents in response to ITA (planned today). However, have a question here about funds.


1. I have a job in Canada right now (on work permit).
2. My Canadian accounts are credited with regular salary income.
3. Current Canadian account balance meets the requirement of Funds from CIC website/checklist.


However, I also read from CIC website the following piece of information -
As well, you do not need to show these funds if you are currently authorized to work in Canada and have a valid job offer.

At this link -
http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

However, the PR process website (http://cic.gc.ca) still asks me to upload a proof of funds document.

All in all I am happy to provide the documents.

The reason I am raising this question is that I intend to spend part of the money on a relatively large purchase. After the purchase though, my Canadian account balance shall fall below the threshold by CIC.

My question here is, should i go ahead with my planned purchase, or should i wait for some time (in PR processing).

Please suggest.

Even If you're exempt from submitting POF, the placeholder will still be there. You need to upload a letter stating why you don't need to show POF.

 

[Vish7]

1> Is letter of explanation different then cover letter? I am planning to have first document in each folder as LOE [where LOE is required], followed by actual documentation. Is this correct? do we have a separate place holder for LOE for each section? or it has to be part of actual documentation?
2> And PCC stamp is no longer provided on passport.We obly get a letter for PCC. Rule changed last month. I will specify this on LOE followed by PCC letter in the PCC place holder? Is this perfect?
3> Still confused with digital photo. Please if some one can provide a sample image with exact size, resolution, dpi and dimensions of the soft copy.

 

[hamdi_90]

Hi
I have some questions regarding proof of funds.
1. Currently, i have an investment in stock market on my name. Would that suffice the requirement for proof of funds?
2. My father just sold a plot and the money would be transferred to my bank account ( which is jointly owned by me and my elder brother) from the buyer. As this money doesn't belong to me, what if i invest this money in stock market and show my investment documents to CIC? Would they raise any objection?Like asking from where did you get this money?
3. I read that another way of POF is to get a cash as a way of gift deed from parents/siblings, but my father lives in saudi arabia and i am in pakistan, so from which country do i have to notarize the gift deed?
4. Does average balance in the bank account must meet the minimum requirement set by the CIC or it would be okay if my average balance is below the requirement but my current balance is above the minimum requirement?

Would really appreciate if someone could answer these questions.

 

[rupinder2k17]

Hello Everyone,

I have a query regarding POF.

I had requested my bank for the 6 months statement and the balance certificate which should have the average balance, balance as on date, exchange rate in terms of CAD. Now the balance certificate that has been issued to me mentions only the balance as on date.

Please advise me how to show the exchange rate and the average balance for the last six months.

Looking forward to hear from you.

 

[vishalg]

Hi
I have some questions regarding proof of funds.
1. Currently, i have an investment in stock market on my name. Would that suffice the requirement for proof of funds?
Not accepted unless liquidated
2. My father just sold a plot and the money would be transferred to my bank account ( which is jointly owned by me and my elder brother) from the buyer. As this money doesn't belong to me, what if i invest this money in stock market and show my investment documents to CIC? Would they raise any objection?Like asking from where did you get this money?
Funds credited within last 6 months need to supported by providing docs that prove your ownership and the source of the funds. You would need to upload the sale deed. If the sale deed is in your father's name then you also need a gift deed from him. Joint account with siblings and/or parents are not accepted. Either get the sole ownership of the account or you have to move the funds to your account and also get an affidavit from your brother that he has no objection/ no claim in the funds.
3. I read that another way of POF is to get a cash as a way of gift deed from parents/siblings, but my father lives in saudi arabia and i am in pakistan, so from which country do i have to notarize the gift deed?
Cash as a gift deed will be a challenge because it is hard to prove the source of the funds.
The donor can get the gift deed prepared locally and the donee can get the acceptance prepared at his end.
4. Does average balance in the bank account must meet the minimum requirement set by the CIC or it would be okay if my average balance is below the requirement but my current balance is above the minimum requirement?
Low average balance isn't a problem, the current balance should be above LICO. Also, any significant credits in last 6 months should be supported by valid docs that prove your ownership and provide the source of the funds.
Would really appreciate if someone could answer these questions.

 

[vishalg]

1> Is letter of explanation different then cover letter? I am planning to have first document in each folder as LOE [where LOE is required], followed by actual documentation. Is this correct? do we have a separate place holder for LOE for each section? or it has to be part of actual documentation?
You can go ahead with creating a covering letter.
2> And PCC stamp is no longer provided on passport.We obly get a letter for PCC. Rule changed last month. I will specify this on LOE followed by PCC letter in the PCC place holder? Is this perfect?'
I am not aware of this change, so can't help you with this. You can sue LOEs wherever you want to explain any doubts that might crop up in the officer's mind while evaluating your file.
3> Still confused with digital photo. Please if some one can provide a sample image with exact size, resolution, dpi and dimensions of the soft copy.
Forgot about the specs . Hope this helps
Digital Photo - The final frame size of the photo should be at least 35mm x 45mm. The photograph must show a full front view of the head and tops of shoulders. The size of the head, from chin to crown, must be between 31mm and 36mm. The physical dimensions in pixels must be at least 420 x 540. The final size of the image should not be less than 60KB. The file should be submitted in JPEG format.

 

[vishalg]

Hello Everyone,

I have a query regarding POF.

I had requested my bank for the 6 months statement and the balance certificate which should have the average balance, balance as on date, exchange rate in terms of CAD. Now the balance certificate that has been issued to me mentions only the balance as on date.

Please advise me how to show the exchange rate and the average balance for the last six months.
For average balance get signed and stamped statements for last 6 months.
Use LOE/Covering letter to summarize your POF and highlight any transaction that you feel is important. Use bank of Canada's website for exchance rate. Do mention the source and date of exchange rate in your LOE
Looking forward to hear from you.