Client Portal
+1(514) 937-9445 or Toll-free (Canada & US) +1 (888) 947-9445
  • Forums
  • Immigration to Canada
  • Express Entry / Expression of Interest

Proof of Funds (Express Entry)

K

kadeed

Member
Sep 26, 2016
19
8
Hi Everyone, I have a simple questions i needed some clarifications on it.

1. I have my account in XXX bank, and my salary is deposited in that account, also my brother salary is transferred to this account for couple of months, until he opened his own bank account ? if 6 months statement is printed this transaction will be noticed, can I tell them its for my brother as he was using my account for couple of months to get his salary. ? if it will lead to problems I have another bank account i can transfer Funds to and use as POF.

2. Do I have to explain each and every deposit to my account over the past 6 months?
 
A

aarif001

Newbie
Oct 20, 2018
6
0
Hi all pls help... m about to submit my pr application in june ...is dere any problem if i open my individual bank account right now which means 4 months before submission of application
 
D

Divyakrish2891

Member
Mar 4, 2018
14
0
Hi,

I got my Ita and I am submitting my documents now. My Pof is in the form or a gift deed which was given to me 2 weeks back.
I have made the bank letter, gift deed letter and affidavit ready.
Regarding the bank statement my joint account is new and is only 4 months old.
How to provide 6 months statement. Should I provide my joint account statement 4 months and my other savings account (my salary account) 6 months statement?
 
C

chelseafan17

Newbie
Apr 15, 2015
3
0
Hi friends,

I lived in Canada for a while and had an account there which still has funds. I'm applying through express entry from India now. Can I use those funds (years old) as proof of funds?

Thanks.
 
K

karan1987

Member
Sep 8, 2018
13
0
Hi ,
I am an Indian National working in UAE. My funds are mostly between FD's in India and my savings in UAE.
I am going to be doing my landing soon. But I will actually immigrate after a year. I am planning to take my FD'S with me during landing. So after a year when i take my UAE savings with me will that be taxable? I keep reading only income is taxable. Does that mean income after immigrating or income after landing?

Please assist.

Thanks

Karan
 
DelPiero07

DelPiero07

VIP Member
Oct 2, 2016
10,388
2,614
Job Offer........
Pre-Assessed..
Nixnic19 said:
Regarding proof of funds, i am working overseas.

Fo i also need to secure bank statement from home country? I havent sent money to home country for savings account since i am residing overseas. Pls advise
Click to expand...
No, you need not provide bank statements from your home country in this case.
 
G

GetLucky8888

Star Member
Jan 12, 2019
74
15
Hi Guys,

I need some help here
I'm preparing for Proof of Funds with my common-law partner. We opened a new joint account last month and deposit some money to that account. We had an official letter from the bank showing the balance and other information of that joint account. My question is the joint account is quite new (1 month only), so it didn't have any statement record covering the past 6 months, and the average balance is showing 0. Is this letter still viable?

Another question, do I have to submit all my bank account's summary? (All credit/debit cards...)

Thanks!!!
 
I

imsaba

Newbie
Aug 10, 2018
7
0
Can somebody tell me if gift deed needs to be from your parents or can be from brother-in-law ? Also what to do if funds were transferred instead of cheque? Also he is not in country so how do i get affidavit and gift deed ? In fact he is in Canada
 
R

RitzM

Full Member
Feb 19, 2019
26
6
Hi all,

After going through the forum, I am a bit worried about the transaction in my account.

My fund requirement is 15,772 which will be shown as two seperate FDs. The first FD was created 8 months back and the 2nd FD was created this Feb. I have arranged PoF for the second FD(gift deed)

However, when I submit the bank statement, there is a credit of Rs 1 lac and 40k in month of December. Will this raise any suspicion? (Actually this is also a trasfer from my mom's accounts.)

Should I provide explanation to the source of these funds also? If so, in LOE?
 
A

Ayp1

Newbie
Mar 16, 2019
3
0
Hi guys.
I already submitted my application with my 6months statement of bank account. While I wait for the completion process within 6months. I am thinking of investing my POF in treasury Bills, so as to have a little turn over. Will this be a good idea or wrong. Don’t know if it will affect in anyway?
Please guys... kindly advise
 
You must log in or register to reply here.