Proof of Funds (Express Entry)

[happy Canada 2015]

Currently I have less than 400 crs points but will get my pnp points in one month.

And when I created my exp.entry profile I only met CEC.

 

[White knight 22]

Hi Asivad, i have a question concerning POF .. the bank statement i submitted is dated 20 days earlier than application submission date.. should it be a problem ?!! thanks

 

[Asivad Anac]

Hi Asivad, i have a question concerning POF .. the bank statement i submitted is dated 20 days earlier than application submission date.. should it be a problem ?!! thanks

Not a problem.

 

[White knight 22]

Not a problem.

thank u so much.. i appreciate that

 

[liz2017]

What if we are short of settlement funds? what else can we do? If we borrow money, for how long should we keep the money in our account? until after acquiring a bank certificate?

Thank youuuu!

 

[sunichak]

I have a personal loan and the amount is getting deducted monthly from my salary account. I am showing my salary account statement of 6 months since i took a FD using amount in that account. Do i need to provide them with details of my personal loan?

The deduction is mentioned ECS in my statement, will they know it?

 

[Asivad Anac]

I have a personal loan and the amount is getting deducted monthly from my salary account. I am showing my salary account statement of 6 months since i took a FD using amount in that account. Do i need to provide them with details of my personal loan?

The deduction is mentioned ECS in my statement, will they know it?

Nothing to explain here. CIC expects you to only have the required monies and that they aren't borrowed. Other than that, your account can show regular transactions. CIC won't care about those.

 

[sunichak]

Thanks Asivad +1 to you

 

[prishah]

Depends on your program eligibility. If CEC, no concerns. If FSW, you'll have to send in an LOE with other evidences including work status, job offer letter with salary, pay stubs, T4 etc to make the claim that you're already self sufficient financially and request the officer to consider all these while making their decision. It's the officer's discretion eventually but other members have reported positive decisions in such cases.

All the best!

Thanks a ton buddy, appreciate your feed back. Yes I am only qualify for CEC category not in FSW. But still I am going to submit all the forms including my T4, Pay stubs, last 6 months bank balance etc to make a stronger case...

 

[alrr3077]

Hello,

I have a question related to a express entry process, I got into the platform and submitted my profile to validate how many points my qualifications and general status would get. I scored 432 points, my plan was to start looking for a job offer on the job bank platform cause I didn't expect to get an invitation since the pool is drawing candidates that have scored at least 450 to 480 points (average). My situation is that I recently received a PT notification of interest from Ontario to OINP for nomination under the Human Capital Priorities Stream (which I didn’t expect at all), I wasn’t awared of this option and now I’m trying to meet the requirements so I can get the chance to apply.

My main issue with this process is the settlement funds required to demonstrate I have the amount of money needed to settle for a period of time in Canada. At the moment I don’t have the amount of money saved on one of my bank accounts ($11,931 canadian dollars) but my brother has it as a result of a loan he recently got (he got the money transferred as liquid funds to his bank account recently and it’s totally disposable for any desired purpose). The thing is he spontaneously offered to delay his plans with this money and give it to me as a gift so I can take this opportunity an migrate to Canada, therefore this money won’t need to be returned to him , ever, although he’s going to be paying installments from the loan by himself (he is totally fine with it and able to do it).

The questions is, if I suddenly deposit this sum of money on my bank account for POF and get a gift deed, Affidavit, net-worth certificate and LOE with my brother stating that from that moment on that money it’s going to be mine and wont have to return it and he’s not affected negatively by giving it away… would that be valid enough to submit my application?. What worries me is the case that they wouldn’t allow me to use money that comes form a loan even thought its not mine and I won’t have to pay it.

I don’t want to incur in a case of misrepresentation as its not my intention, and I would ask my brother to specify on the gift deed and affidavit that the source of the money is a loan under his name (not past savings), that he’s going to use that money to help me and that he doesn’t want it in return. This way I won’t be hiding any information at all.

Please let me know if this is a good way of tackling my situation and any further suggestion is more than welcome.

 

[rcharmed]

Hello,

I have a question regarding the proof of funds. I have a three year bank certificate, is this valid as a proof of fund? or does the money needs to be in a bank account (savings/checking?

Thank you

 

[alrr3077]

Hello Asivad Anac,

I have a question related to a express entry process, I got into the platform and submitted my profile to validate how many points my qualifications and general status would get. I scored 432 points, my plan was to start looking for a job offer on the job bank platform cause I didn't expect to get an invitation since the pool is drawing candidates that have scored at least 450 to 480 points (average). My situation is that I recently received a PT notification of interest from Ontario to OINP for nomination under the Human Capital Priorities Stream (which I didn’t expect at all), I wasn’t awared of this option and now I’m trying to meet the requirements so I can get the chance to apply.

My main issue with this process is the settlement funds required to demonstrate I have the amount of money needed to settle for a period of time in Canada. At the moment I don’t have the amount of money saved on one of my bank accounts ($11,931 canadian dollars) but my brother has it as a result of a loan he recently got (he got the money transferred as liquid funds to his bank account recently and it’s totally disposable for any desired purpose). The thing is he spontaneously offered to delay his plans with this money and give it to me as a gift so I can take this opportunity an migrate to Canada, therefore this money won’t need to be returned to him , ever, although he’s going to be paying installments from the loan by himself (he is totally fine with it and able to do it).

The questions is, if I suddenly deposit this sum of money on my bank account for POF and get a gift deed, Affidavit, net-worth certificate and LOE with my brother stating that from that moment on that money it’s going to be mine and wont have to return it and he’s not affected negatively by giving it away… would that be valid enough to submit my application?. What worries me is the case that they wouldn’t allow me to use money that comes form a loan even thought its not mine and I won’t have to pay it.

I don’t want to incur in a case of misrepresentation as its not my intention, and I would ask my brother to specify on the gift deed and affidavit that the source of the money is a loan under his name (not past savings), that he’s going to use that money to help me and that he doesn’t want it in return. This way I won’t be hiding any information at all.

Please let me know if this is a good way of tackling my situation and any further suggestion is more than welcome.

 

[GuiBrazuca]

hello All, hope everybody is fine!
I am preparing my documentation for Nova Scotia and I have a question about proof of funds. Do I have to send a translated version of my bank statement?


Thanks a lot for the support!

Best

 

[FaizanAli46]

I have invested money in a construction company, to prove it is an investment what documents do I have to produce? I have withdraw money from that company and the cheque is in my name from that company with company name.. Is it suffice if I get written statement from company's letterhead that I did invest in that company from xxx period to xxx period?

 

[StAnger]

Hello Asivad Anac,

I have a question related to a express entry process, I got into the platform and submitted my profile to validate how many points my qualifications and general status would get. I scored 432 points, my plan was to start looking for a job offer on the job bank platform cause I didn't expect to get an invitation since the pool is drawing candidates that have scored at least 450 to 480 points (average). My situation is that I recently received a PT notification of interest from Ontario to OINP for nomination under the Human Capital Priorities Stream (which I didn’t expect at all), I wasn’t awared of this option and now I’m trying to meet the requirements so I can get the chance to apply.

My main issue with this process is the settlement funds required to demonstrate I have the amount of money needed to settle for a period of time in Canada. At the moment I don’t have the amount of money saved on one of my bank accounts ($11,931 canadian dollars) but my brother has it as a result of a loan he recently got (he got the money transferred as liquid funds to his bank account recently and it’s totally disposable for any desired purpose). The thing is he spontaneously offered to delay his plans with this money and give it to me as a gift so I can take this opportunity an migrate to Canada, therefore this money won’t need to be returned to him , ever, although he’s going to be paying installments from the loan by himself (he is totally fine with it and able to do it).

The questions is, if I suddenly deposit this sum of money on my bank account for POF and get a gift deed, Affidavit, net-worth certificate and LOE with my brother stating that from that moment on that money it’s going to be mine and wont have to return it and he’s not affected negatively by giving it away… would that be valid enough to submit my application?. What worries me is the case that they wouldn’t allow me to use money that comes form a loan even thought its not mine and I won’t have to pay it.

I don’t want to incur in a case of misrepresentation as its not my intention, and I would ask my brother to specify on the gift deed and affidavit that the source of the money is a loan under his name (not past savings), that he’s going to use that money to help me and that he doesn’t want it in return. This way I won’t be hiding any information at all.

Please let me know if this is a good way of tackling my situation and any further suggestion is more than welcome.

If the funds are loan it might be an issue. Cic clearly specifies that source of funds should NOT be loan.

I hope someone else can comment and help you and direct you in the right direction. All the best.