Proof of Funds (Express Entry)

[Hasan Raza Awan]

Friends, I have sold the property, so in my account 3 to 4 transactions of big deposit are their, of around 19 lac. SO how should I explain this to IRCC and what proof I need to submit.

same is the case with me. I have 5 transactions. Show sale deed. and explain in LOE that how you got money in 3-4 transactions. And If possible while typing sale deed mention that amount will be deposited in your account or given to you in 3-4 transactions within 15 days or other no of days according to your countries pattern.

 

[Hasan Raza Awan]

She has left already

Than you may have gift deed from Canada (in my opinion).
Seniors need your opinion

 

[Beekay86]

Hi Guys, I have quite good points and hoping to get ITA soon. I want to ask few things about PoF.

-- My annual salary is CAD 20446 (this is converted from PKR). Which is also written on the experience letter.

And my account had mostly around CAD 500-1500 in the past few months because I started maintaining it by consolidating all my accounts. Such a low amount was because I used to have most of my salary invested and in assets. For example I still have the car in my name which I plan to leave it here for the family. Now, I sold off a few other assets in my parent's name and cashed myself out from a small marketing activation company I had invested in one of their projects. So Its like CAD 5000 now and 5000 deposits (in local currency) will be done sooner to meet the PoF requirement.

Given it is a small marketing activation company (25+/- staff but known brands as clients), I don't want to submit a letterhead that I withdrew my investment from their. Feels dubious.

Do you think just submitting my statement and experience letter (since salary in mentioned in it) is enough? Or do I need a letter from the business that I cashed out my investment from them on their letterhead? How do you suggest I explain such an increase in statement.

 

[Hasan Raza Awan]

Hi Guys, I have quite good points and hoping to get ITA soon. I want to ask few things about PoF.

-- My annual salary is CAD 20446 (this is converted from PKR). Which is also written on the experience letter.

And my account had mostly around CAD 500-1500 in the past few months because I started maintaining it by consolidating all my accounts. Such a low amount was because I used to have most of my salary invested and in assets. For example I still have the car in my name which I plan to leave it here for the family. Now, I sold off a few other assets in my parent's name and cashed myself out from a small marketing activation company I had invested in one of their projects. So Its like CAD 5000 now and 5000 deposits (in local currency) will be done sooner to meet the PoF requirement.

Given it is a small marketing activation company (25+/- staff but known brands as clients), I don't want to submit a letterhead that I withdrew my investment from their. Feels dubious.

Do you think just submitting my statement and experience letter (since salary in mentioned in it) is enough? Or do I need a letter from the business that I cashed out my investment from them on their letterhead? How do you suggest I explain such an increase in statement.

Annual salary is mandatory but you need to have enough amount in your account.
If you have a car make its sail deed under the name of your brother/Father/sister that it is sold to him/her on that amount which you want to deposit into your account.

 

[Beekay86]

Annual salary is mandatory but you need to have enough amount in your account.
If you have a car make its sail deed under the name of your brother/Father/sister that it is sold to him/her on that amount which you want to deposit into your account.

I understand. I had that money in investments. Car only make 50% of the total amount. I have been told that you can explain that you had the amount invested and you cashed out for this because my salary is quite enough for a single guy with no dependents to save more than the required amount. No need to present sale deed, etc.

 

[rao_hamza]

Hi everyone, need a bit of help here.

I am the Primary Applicant (PA) but the account i am going to use as POF is in my wife's name and it is maintaining the sufficient balance required for our family, since last 2 years. Along with that i also have a NOC/affidavit from my spouse for usage of them funds for immigration purposes. However, I also have two accounts in my name, one of which has a sizable balance too, only problem is that it has big deposits happening is last few months . Also my provident funds (PF) statement is available which can be showcased, but it is much less than required.

So my question is that how should i proceed?
(OPTION 1) Only show my wife's account and leave my accounts and PF out?
(OPTION 2) Also add my accounts and provident fund too, but ask CIC to consider only my wife account as evidence, rest are just for information and not be considered in POF. This will demonstrate that I have other funds too for traveling and other arrangements for moving to Canada.

Please guide, which option to apt for and why? Any help will be much appreciate.

 

[BreakingBad]

Hi everyone, need a bit of help here.

I am the Primary Applicant (PA) but the account i am going to use as POF is in my wife's name and it is maintaining the sufficient balance required for our family, since last 2 years. Along with that i also have a NOC/affidavit from my spouse for usage of them funds for immigration purposes. However, I also have two accounts in my name, one of which has a sizable balance too, only problem is that it has big deposits happening is last few months . Also my provident funds (PF) statement is available which can be showcased, but it is much less than required.

So my question is that how should i proceed?
(OPTION 1) Only show my wife's account and leave my accounts and PF out?
(OPTION 2) Also add my accounts and provident fund too, but ask CIC to consider only my wife account as evidence, rest are just for information and not be considered in POF. This will demonstrate that I have other funds too for traveling and other arrangements for moving to Canada.

Please guide, which option to apt for and why? Any help will be much appreciate.

Go with option two. And Dont tell them what to consider and not consider for POF.
Since total funds from all sources is much more than required POF they will accept.

 

[Hasan Raza Awan]

I understand. I had that money in investments. Car only make 50% of the total amount. I have been told that you can explain that you had the amount invested and you cashed out for this because my salary is quite enough for a single guy with no dependents to save more than the required amount. No need to present sale deed, etc.

You are right that you have enough salary. But you need the money which you can liquidate at any time.

 

[Hasan Raza Awan]

Hello Seniors

While filling EE form i mentioned that i will bring 20,000 CAD to Canada with me for three persons while the requirement for 3 persons is $18,825.
Now my questions is:-

Now while filling forms after ITA, can I change this amount to 19000 CAD?

Regards

 

[tichupichu]

Hello Seniors

While filling EE form i mentioned that i will bring 20,000 CAD to Canada with me for three persons while the requirement for 3 persons is $18,825.
Now my questions is:-

Now while filling forms after ITA, can I change this amount to 19000 CAD?

Regards

Yes you can .. because it will not affect your eligibility .. but make sure you keep a safe margin for the exchange differences when you submit POF in local currency

 

[tichupichu]

Hi Guys, I have quite good points and hoping to get ITA soon. I want to ask few things about PoF.

-- My annual salary is CAD 20446 (this is converted from PKR). Which is also written on the experience letter.

And my account had mostly around CAD 500-1500 in the past few months because I started maintaining it by consolidating all my accounts. Such a low amount was because I used to have most of my salary invested and in assets. For example I still have the car in my name which I plan to leave it here for the family. Now, I sold off a few other assets in my parent's name and cashed myself out from a small marketing activation company I had invested in one of their projects. So Its like CAD 5000 now and 5000 deposits (in local currency) will be done sooner to meet the PoF requirement.

Given it is a small marketing activation company (25+/- staff but known brands as clients), I don't want to submit a letterhead that I withdrew my investment from their. Feels dubious.

Do you think just submitting my statement and experience letter (since salary in mentioned in it) is enough? Or do I need a letter from the business that I cashed out my investment from them on their letterhead? How do you suggest I explain such an increase in statement.

If the credits you have mentioned are done six months before then it makes no difference.. u only need to submit six months bank statement and if during those months you have the minimum balance without any big credit than ur salary on the certificate doesn’t matter..

Cic wont reconcile your source of income lrior to six months they just need to see that the funds belonh to you and are not out of a loan /borrowing from some one etc


Bht if the credit is within those six months than u have to prove each credit.. if the sale / disposal of car or investment was in ur name then just submit sale deed .. otherwise u have to submit a gift deed

 

[tichupichu]

Go with option two. And Dont tell them what to consider and not consider for POF.
Since total funds from all sources is much more than required POF they will accept.

I will second this.. all the banks need to be disclosed and in the LoE, just mention that you have the NOC for ur wife’s account which is attached ...

They will do the maths

 

[Hasan Raza Awan]

Yes you can .. because it will not affect your eligibility .. but make sure you keep a safe margin for the exchange differences when you submit POF in local currency

Okay Thank you

 

[aman.6677]

what is family means actually?
if I'm single and wants to apply for myself then i need to show funds only for one person, right?

 

[Hasan Raza Awan]

what is family means actually?
if I'm single and wants to apply for myself then i need to show funds only for one person, right?

Family means you, your wife and children. If you are single you only need to show funds for yourself.