Proof of Funds (Express Entry)

[crescent_jam]

Have transferred some money from my fathers account to mine recently. I was not aware about the six months average rule. I was working in the US and my funds were really all over the place in family members accounts. What do I need to show as proof of funds? Please advise.

BTW I already have a ITA.

Hi Syed2808,
Apart from the regular supporting documentation (official letter from the bank stating bank's contact details, your name, account opening date, account number, account balance, balance over past 6 months, etc.), my understanding is that you would need to get a Gift Deed from your father, to provide clarification about where these funds came from (and to show that your father has gifted you the money and will not expect it back) in lieu of the 6 month average rule. The 6 month average rule is apparently just to prove to CIC that you didn't borrow the money on short notice to help satisfy the Proof of Funds requirement; having the Gift Deed would be a way to satisfy them that it wasn't borrowed. and that it's yours to use for settlement, even if you didn't have it 6 months ago.

 

[pj8051]

Hello all, I am new here. I wanted to clarify two confusions which I am facing right now. They are as below:

a. I have received an ITA. I am having FD's of 13000 CAD and around 3700 CAD in my salary account, so it is 16700 CAD in my account to show as POF. So, my concern is I took a personal loan of 131000 Rs (around 2500 CAD) in September 2016. Pending amount is 1,05000 Rs (around 2000 CAD). I am paying EMIs on a mothly basis which is 3700Rs only. Should I worry about any rejection from CIC?
b. Is there any embassy interview for PR process?

Please help me to solve my issues.

 

[Canadian_Iam]

Hello everyone, I have a joint account with my spouse having all the settlement fund there. Will statement from this joint account will be accepted by IRCC? Do I need to attach any gift deed or authorization letter? Kindly shed some light on it. Thanks. @Wandering Mind @BillHyatt

 

[Wandering Mind]

Hello everyone, I have a joint account with my spouse having all the settlement fund there. Will statement from this joint account will be accepted by IRCC? Do I need to attach any gift deed or authorization letter? Kindly shed some light on it. Thanks. @Wandering Mind @BillHyatt

If your spouse is accompanying you, you don't need a gift deed. However, it's always a good idea to mention it in an LOE. Good luck.

 

[Tusharthakkar]

Guys,

I'm primary and my wife is secondary applicant in my ee profile.for POF I'm planning to show some liquid funds in my savings + some FD's which r in my wife's name + some FD's which r in my wife's and father in law's name . I had a Consultant who said that this will work but when I looked at cic's requirement for POF ,it says fund must be in either my name or wife's name and I should have access to those funds .
Can you guys tell me ,if POF that I'm planning determine will work or not ?if yes then do I need anything else? except bank statement and balance certificate for all of the fds, if no what's the other way out . Please comment and share your valuable input .

Thank you in advance.

 

[Canadian_Iam]

If your spouse is accompanying you, you don't need a gift deed. However, it's always a good idea to mention it in an LOE. Good luck.

Thanks dear. Yes, my spouse will accompany me and I've put a note in LoE that we both contribute to this joint account & source is savings from our salary. I'll also attach our individual bank statement to support the transfers or for cross-matching.

Do I still need to provide any authorization letter from my spouse?

 

[jackdawn]

Guys,

I'm primary and my wife is secondary applicant in my ee profile.for POF I'm planning to show some liquid funds in my savings + some FD's which r in my wife's name + some FD's which r in my wife's and father in law's name . I had a Consultant who said that this will work but when I looked at cic's requirement for POF ,it says fund must be in either my name or wife's name and I should have access to those funds .
Can you guys tell me ,if POF that I'm planning determine will work or not ?if yes then do I need anything else? except bank statement and balance certificate for all of the fds, if no what's the other way out . Please comment and share your valuable input .

Thank you in advance.

Funds should be either in your name or your accompanying spouse only. Liquid are always welcome and FD's are also accepted. If most of the funds are in your spouse name, take a letter from her stating that she is part of the EE application and will accompany you to canada and she has no p[problem what so ever utilizing these funds for immigration

 

[jackdawn]

Thanks dear. Yes, my spouse will accompany me and I've put a note in LoE that we both contribute to this joint account & source is savings from our salary. I'll also attach our individual bank statement to support the transfers or for cross-matching.

Do I still need to provide any authorization letter from my spouse?

A letter from your spouse stating that she is a part of the EE application and is accompanying you and has no issue towards utilizing this fund for POF will benefit though may not be compulsory

 

[abcvita2012]

How is the six months average calculated? is it the sum of money available everyday over 180 days or just the sum at the end of each month over 6?

 

[jackdawn]

Hello all, I am new here. I wanted to clarify two confusions which I am facing right now. They are as below:

a. I have received an ITA. I am having FD's of 13000 CAD and around 3700 CAD in my salary account, so it is 16700 CAD in my account to show as POF. So, my concern is I took a personal loan of 131000 Rs (around 2500 CAD) in September 2016. Pending amount is 1,05000 Rs (around 2000 CAD). I am paying EMIs on a mothly basis which is 3700Rs only. Should I worry about any rejection from CIC?
b. Is there any embassy interview for PR process?

Please help me to solve my issues.

Since that loan amount is almost a year old and you will tentatively submit a 6 month bank statement it may not be a problem but it is subjective and if u can manage to close that loan that wud be well and good

Embassy interview is not a regular process but case specific

 

[jackdawn]

Kindly help me with this query.

My salary account doesn't have enough PoF. I recently opened another account and my husband put the required balance in it through cash.
As he was previously working in another country; due to foreign exchange issue I had to open this FC account.
We can show his bank statements from other country. Would they accept it as PoF??

I'm the primary applicant. N he's dependent

A bank account in the name of your husband is fine if he is an accompanying spouse. U need to take a letter from him stating that he is a part of the EE application and has no problem in parting this find towards POF
secondly, u may need to show the source of that cash in his account

 

[jackdawn]

Guys please I need your help as my ITA is coming soon. I couldn't find a decisive answer to this question yet.

Cash at bank 28k cad

Outstanding car loan: 22k cad

Car value at worst 18-20k cad

Loan and savings are from the same account.

What should I do with my POF?

loans, as long as they are secured are not a problem, since ul be paying them from future income and u will anyways sell the car and u are good to go with this amount

 

[jackdawn]

Hello,

A query regarding POF, I have made a sell of jewellery asset and the money available through the sell will be used by me for POF.
The jeweller has given a sell certificate on his letter head of the sell made.

Will that be shown as documentary evidence for the POF ? It's around 30% of fund value of POF.

Senior members can you help with your advise ?

The sale certificate will suffice

 

[jackdawn]

Can i attach bank statements for 6 months? My bank(capital one 360) does not provide the certificate. Also, Can i provide statements of my brokerage account? Its liquid funds and well above the required min.

investment in equity is not covered under POF since they are volatile. You will have to sell them and show

 

[Canadian_Iam]

A letter from your spouse stating that she is a part of the EE application and is accompanying you and has no issue towards utilizing this fund for POF will benefit though may not be compulsory

Thanks, mate