Proof of Funds (Express Entry)

[akubilly]

Hello Asivad Anac,

Thanks for all your humanitarian help, this is very appreciated.

I have some worries:

I have created my EE profile but yet to submit it because husband is yet to take IELTS or even get an ECA (am the PA because of age, but birthday is even in May so age factor will soon expire)So can I submit it without husband's ielts and will they allow me update EE profile when husband finally sits for exam in April? Is this allowed? Am actually uneasy because the essence of me being the applicant is the age factor which will not be applicable in first week of May which is my birthday.

Secondly, during pre-ITA, is a candidate allowed to scan and upload the employment reference/working experience of both PA and spouse? My husband's work experience is very good and I would like to include all of his employment reference with mine. In my EE profile I have included his NOC code and work experience. Is this allowed and ok? Same goes for passport identification, can I scan for two of us and attach?

Thirdly, we don't have a joint account but we have our separate accounts, can I summit bank statements from the two separate accounts as POF, Is this acceptable? OR POF must come ONLY from the PA's account.

Please advise. Many thanks.

 

[AnnaBG]

Hello Asivad Anac,

Thanks for all your humanitarian help, this is very appreciated.

I have some worries:

I have created my EE profile but yet to submit it because husband is yet to take IELTS or even get an ECA (am the PA because of age, but birthday is even in May so age factor will soon expire)So can I submit it without husband's ielts and will they allow me update EE profile when husband finally sits for exam in April? Is this allowed? Am actually uneasy because the essence of me being the applicant is the age factor which will not be applicable in first week of May which is my birthday.

Secondly, during pre-ITA, is a candidate allowed to scan and upload the employment reference/working experience of both PA and spouse? My husband's work experience is very good and I would like to include all of his employment reference with mine. In my EE profile I have included his NOC code and work experience. Is this allowed and ok? Same goes for passport identification, can I scan for two of us and attach?

Thirdly, we don't have a joint account but we have our separate accounts, can I summit bank statements from the two separate accounts as POF, Is this acceptable? OR POF must come ONLY from the PA's account.

Please advise. Many thanks.

HI,

1. You need your husbands ECA if you want to claim points on his education. Same goes for the IELTS (IELTS is not mandatory for the second candidate). Having in mind you only lose 5 points for each year over 30 that means in May you will lose 5 points only .. Also it is irrelevant when you submit your EE profile. If you are not selected until may you will drop 5 points anyway because the profile will update this automatically.

2. Pre-ITA stage doesnt give you the option to upload anything. On the other hand international experience of the second candidate does not provide any points.. You can add his experience in his work history section of course. For example I have included my husband's releference letters for his experience because he was able to provide them. If he didn't I would have just added them in his personal history...
Passport - again you cannot upload file in the pre ITA stage.

3. According to the CIC official web site info, the POF should be for the principal candidate. Assuming this should be his/her bank account because it needs to include the candidate's name of course..

Asivad can give you more hint regarding the last point.

 

[akubilly]

HI,

1. You need your husbands ECA if you want to claim points on his education. Same goes for the IELTS (IELTS is not mandatory for the second candidate). Having in mind you only lose 5 points for each year over 30 that means in May you will lose 5 points only .. Also it is irrelevant when you submit your EE profile. If you are not selected until may you will drop 5 points anyway because the profile will update this automatically.

2. Pre-ITA stage doesnt give you the option to upload anything. On the other hand international experience of the second candidate does not provide any points.. You can add his experience in his work history section of course. For example I have included my husband's releference letters for his experience because he was able to provide them. If he didn't I would have just added them in his personal history...
Passport - again you cannot upload file in the pre ITA stage.

3. According to the CIC official web site info, the POF should be for the principal candidate. Assuming this should be his/her bank account because it needs to include the candidate's name of course..

Asivad can give you more hint regarding the last point.

AnnaBG,

Many thanks for your response, I appreciate.

But when I say pre-ITA I meant the period of eAPR when candidates are asked for various documents. I was wondering if its ok to upload all requested for myself and for my husband as well.

 

[AnnaBG]

Then it should be post ITA i presume
the system should ask you to include all the docs of your husband and yourself as per the information in the EE profile. So if it says "required" then by all means yes, you should.

 

[riasat.abir]

In my letter from my bank, it showed my particulars and all account information including opening dates, current balance, etc(with bank's letterhead). But it didn't state the average balance carried for the last 6 months. Should I get a new one with that and send cse?
I submitted all the transactions for the last six months. Will it be good enough?

 

[Asivad Anac]

In my letter from my bank, it showed my particulars and all account information including opening dates, current balance, etc(with bank's letterhead). But it didn't state the average balance carried for the last 6 months. Should I get a new one with that and send cse?
I submitted all the transactions for the last six months. Will it be good enough?

That would suffice.

 

[cavemen]

Hey All
I have some queries regarding pof ..

My wife is the principal applicant and we both are applying together as a family since we both qualify under the federal skilled workers program.

For PoF we are planning to show my funds and most of the funds are in my name which are all currently in the form of mostly equity mutual funds ( not ELSS ) and some stocks.. Funds under my wife name are mostly in bank FD's and PPF .
As she is a principal applicant can we show my mutual funds as pof or do I have to liquidate them in our joint account ?
Also if we can show my funds is an online mutual fund statement enough as a valid document ?

Would really appreciate if someone could help solve my queries.

 

[Stanlee]

Hey All
I have some queries regarding pof ..

My wife is the principal applicant and we both are applying together as a family since we both qualify under the federal skilled workers program.

For PoF we are planning to show my funds and most of the funds are in my name which are all currently in the form of mostly equity mutual funds ( not ELSS ) and some stocks.. Funds under my wife name are mostly in bank FD's and PPF .
As she is a principal applicant can we show my mutual funds as pof or do I have to liquidate them in our joint account ?
Also if we can show my funds is an online mutual fund statement enough as a valid document ?

Would really appreciate if someone could help solve my queries.

Since mutual funds and stocks are subject to market fluctuations, you will not be able to use it as proof of funds. Instead, you can liquidate the same and the proceeds can be shown as proof of funds. You can transfer the proceeds to the joint account. Since the funds originated from the mutual funds held in your name, you will have to give a self declaration stating that you are a co-applicant and that the funds credited to the joint account will be used for migration purposes and you have no objection for the same. You can submit bank statements for this account.

FD receipts can be shown as proof of funds.

Public Provident Fund (PPF) account matures only on the completion of 15 years from the end of the year in which the account was opened. For PPF, no premature closure is allowed, so this does not meet the requirement of CIC, which says that funds should be unencumbered and readily available. The only case where it can be used as proof of funds is by doing a partial withdrawal if you have completed 7 years (from date of account opening). In that case the proceeds which gets transferred to your savings account can be shown as the proof of funds, but not PPF directly.

 

[cavemen]

Since mutual funds and stocks are subject to market fluctuations, you will not be able to use it as proof of funds. Instead, you can liquidate the same and the proceeds can be shown as proof of funds. You can transfer the proceeds to the joint account. Since the funds originated from the mutual funds held in your name, you will have to give a self declaration stating that you are a co-applicant and that the funds credited to the joint account will be used for migration purposes and you have no objection for the same. You can submit bank statements for this account.

FD receipts can be shown as proof of funds.

Public Provident Fund (PPF) account matures only on the completion of 15 years from the end of the year in which the account was opened. For PPF, no premature closure is allowed, so this does not meet the requirement of CIC, which says that funds should be unencumbered and readily available. The only case where it can be used as proof of funds is by doing a partial withdrawal if you have completed 7 years (from date of account opening). In that case the proceeds which gets transferred to your savings account can be shown as the proof of funds, but not PPF directly.

Thanks a lot Stalee for a prompt reply .. will definitely follow your guidelines .. based on your reply I have another doubt ...

Normally mutual funds take upto 2 ~4 working days to credit to the respective account .. from which I can definitely transfer it to our joint account ... So should I do it asap so that the funds are there for the maximum period in our joint account or is it ok if I do it after receiving my ITA ?

 

[Stanlee]

Thanks a lot Stalee for a prompt reply .. will definitely follow your guidelines .. based on your reply I have another doubt ...

Normally mutual funds take upto 2 ~4 working days to credit to the respective account .. from which I can definitely transfer it to our joint account ... So should I do it asap so that the funds are there for the maximum period in our joint account or is it ok if I do it after receiving my ITA ?

Since you can justify the source here and it is clearly evident that it is not borrowed money/loan, you can hold on to your funds, if you are of the view that holding on to the funds will give you better returns. So once you get a direct ITA or an invite from Ontario, you can liquidate those, please ensure to have documents which evidences liquidation and subsequent transfer to joint account.

 

[imrankhan88]

Hi,

i have a small doubt on Proof of Funds. i have enough finances to back up my application but the problem is, all my bank accounts and savings are in Joint Holding with my mother.
Please guide on how use to show my savings as proof of funds

Thanks

 

[vaibhavxv]

Hello friends,
I'm currently in process of applying for my wife's EE profile within Canada (As EE is way faster than Sponsorship). I'm currently a Canadian PR and working full time in Canada. Her situation is like this - She doesn't work in Canada and doesn't have any funds. I have around 12K funds in my account and flow of regular salary. I wanted to get opinion for funding requirement for my wife:
- Should I open a joint account with my wife and put money in it along with my regular salary?
- Or Should I open a separate account for her and put money into her account saying it is a gift from me and I don't expect it back from her?

Any help or suggestions will be helpful!!

 

[Phaphy5]

hello guys, i was requested to submit additional information on proof of fund which i already did. i was given 30Days. i want to find out like how many days will it take to get my ppr as it was stated in the letter sent to me that the application process is completed

 

[Mandeep26]

Hi,

Can i show tax saving investments(5 yearly) in form of NSC and FD's as a proof of funds ?

 

[SaaZ77]

HI,

1. You need your husbands ECA if you want to claim points on his education. Same goes for the IELTS (IELTS is not mandatory for the second candidate). Having in mind you only lose 5 points for each year over 30 that means in May you will lose 5 points only .. Also it is irrelevant when you submit your EE profile. If you are not selected until may you will drop 5 points anyway because the profile will update this automatically.

2. Pre-ITA stage doesnt give you the option to upload anything. On the other hand international experience of the second candidate does not provide any points.. You can add his experience in his work history section of course. For example I have included my husband's releference letters for his experience because he was able to provide them. If he didn't I would have just added them in his personal history...
Passport - again you cannot upload file in the pre ITA stage.

3. According to the CIC official web site info, the POF should be for the principal candidate. Assuming this should be his/her bank account because it needs to include the candidate's name of course..

Asivad can give you more hint regarding the last point.

Hi Experts,

As mentioned above, accompanying spouse doesn't need to submit IELTS reports ?? Only IELTS report from Principal Applicant is required ??
Please clarify.
Thanks in advance,