Proof of Funds (Express Entry)

[frustratedcanadian]

Hello, everyone! I just got 600 points from my nomination so I am expecting to get ITA next month. I am working in Canada and what I understood is that I do not have to provide proof of funds. However, just to be safe I will do that, my question is do I need to provide and a bank statement or just letter from my bank? Thanks!

I thought we still need to provide POF even if we were under provincial nomination because this does not count as a valid job offer. Am I correct?

 

[Asivad Anac]

I thought we still need to provide POF even if we were under provincial nomination because this does not count as a valid job offer. Am I correct?

That is correct. OP might have been eligible under CEC though.

 

[frustratedcanadian]

That is correct. OP might have been eligible under CEC though.

Right.

Okay so, POF should have been sitting in the account for 6months?

Lets say we just completed our pof when we got our ita. Is that okay?

Also, the funds are under my personal acct and my husbands personal acct. will that be an issue as well?

 

[DelPiero07]

Right.

Okay so, POF should have been sitting in the account for 6months?

Lets say we just completed our pof when we got our ita. Is that okay?

Also, the funds are under my personal acct and my husbands personal acct. will that be an issue as well?

It's fine as long as there aren't any suspicious lump sum amounts within the past 6 months.

Regarding your other question: http://www.canadavisa.com/canada-immigration-discussion-board/proof-of-funds-spouse-account-t315319.0.html

 

[frustratedcanadian]

It's fine as long as there aren't any suspicious lump sum amounts within the past 6 months.

Regarding your other question: http://www.canadavisa.com/canada-immigration-discussion-board/proof-of-funds-spouse-account-t315319.0.html

Thanks so much!

Gave you a +1

 

[gadoken]

It's fine as long as there aren't any suspicious lump sum amounts within the past 6 months.

What do you mean by that exactly?

 

[DelPiero07]

What do you mean by that exactly?

Let's say you deposit your income of 3k every month but in one of the months there was a 15k deposit - that sort of deposit would raise eyebrows.

IRCC wants to see that the funds belong to you and if there are any suspicious deposits they might ask for an explanation. This is why when someone gets money from a relative it is recommended to provide a gift deed certificate as well as proof of the transfer.

 

[gadoken]

Let's say you deposit your income of 3k every month but in one of the months there was a 15k deposit - that sort of deposit would raise eyebrows.

IRCC wants to see that the funds belong to you and if there are any suspicious deposits they might ask for an explanation. This is why when someone gets money from a relative it is recommended to provide a gift deed certificate as well as proof of the transfer.

My parents randomly send me money, am I going to tell them to stop that? That makes no sense.

 

[DelPiero07]

My parents randomly send me money, am I going to tell them to stop that? That makes no sense.

I'm talking about when relatives help an applicant meet the minimum funds required by providing a lump sum amount - that's when a gift deed is needed.

Whether IRCC requires an explanation for those random transfers that is not up to me.

 

[gadoken]

I'm talking about when relatives help an applicant meet the minimum funds required by providing a lump sum amount - that's when a gift deed is needed.

Whether IRCC requires an explanation for those random transfers that is not up to me.

Okay I see, thanks.

 

[frustratedcanadian]

My husband has a joint account with his mom with more than the required POF for our family of 3. This account has been around since 2006 I guess. Will cic accept this or we need to provide additional document from his mom?

 

[Asivad Anac]

My husband has a joint account with his mom with more than the required POF for our family of 3. This account has been around since 2006 I guess. Will cic accept this or we need to provide additional document from his mom?

Get a signed self-declaration from her explicitly stating that she (as joint account holder of A/c XXXXX) has no reservations against her son utilizing these funds towards POF purposes. Must be dated recently and can be on plain paper, notarization not really necessary.

 

[frustratedcanadian]

Get a signed self-declaration from her explicitly stating that she (as joint account holder of A/c XXXXX) has no reservations against her son utilizing these funds towards POF purposes. Must be dated recently and can be on plain paper, notarization not really necessary.

That was quick!!! Thanks so much.

 

[varun2015]

Need your suggestion on the following Proof of funds i am submitting with my PR application in Dec 2016

1. Last six months stamp and signed statements (june to Nov 2016)
2. Personnel Assessment letter stating liabilities and assets (dated Aug 2016)
3. Bank letter stating when the bank account was opened and other information ( dated March 2016)

The bank account i am showing is in Canada and I am not currently residing there. My concern is except account statement other two documents are old. What do you guys think is it good enough proof of funds?

 

[Asivad Anac]

Need your suggestion on the following Proof of funds i am submitting with my PR application in Dec 2016

1. Last six months stamp and signed statements (june to Nov 2016)
2. Personnel Assessment letter stating liabilities and assets (dated Aug 2016)
3. Bank letter stating when the bank account was opened and other information ( dated March 2016)

The bank account i am showing is in Canada and I am not currently residing there. My concern is except account statement other two documents are old. What do you guys think is it good enough proof of funds?

You don't even need to submit 2 above. Try and get a recent version of 3 above if possible (if that letter only contains information that is unchanging over time, an older letter wouldn't do any harm).