Proof of Funds (Express Entry)

[Hashmani]

NICE INFO

From March 18, 2016, the LICO requirement has been changed to:

Number of
Family Members Funds Required
(in Canadian dollars)
1 $12,164
2 $15,143
3 $18,617
4 $22,603
5 $25,636
6 $28,913
7 or more $32,191

 

[RBatista]

From March 18, 2016, the LICO requirement has been changed to:

Number of
Family Members Funds Required
(in Canadian dollars)
1 $12,164
2 $15,143
3 $18,617
4 $22,603
5 $25,636
6 $28,913
7 or more $32,191

I suppose that change is not going to affect people who already got their AORs...

So, for people who haven't submitted yet, I guess it would be best if the proof of funds to submit is not limited to just that amount.

 

[KENNYUCHE77]

The only convincing way to prove that is to showcase 6 month bank statements. If they show no suspiciously large credits, that'd do.

What if I have won a lottery just before my application? A huge sum.....

 

[Stanlee]

What if I have won a lottery just before my application? A huge sum.....

As long as you have documentary evidence to prove that the money so claimed rightfully belongs to you, you are good to go. In such a situation, the case officer might ask you for other documents to ensure that you have a regular source of income.

 

[valsanail]

Hello forum friends. I need your help. I wonder if it is possible to open a bank account in Canada now, maintain it with some min balance in order to be able to transfer the whole LICO amount to that account before leaving my country? I ask because I am a little bit worried by an unstable situations with local banks and would like to have a Canadian account ready to do the above mentioned very quickly after ppr is issued. Please could you advise whether is that possible without having visa and copr already in my hands? And which banks could you guys suggest as most reasonable for this matter? Thanks in advance

 

[sushilsrk]

Hello Everyone,

I am sure most of the people are in same boat and have same confusion.
Most of the people come here on student permit and complete their study in my case it was masters in computer science.
I completed my masters in september 2015 and got an open work permit on 1st Oct2015. I am working with the govt. of british columbia since then on an permanent role. Now i have filed my application under EE -FSW and below is my application:-

a) FSW score- 400
b) BC PNP nomination- Received (600 points)
c) Total points with me 1000.

I am sure I will get the ITA soon because of the points I have. I was going through a long phone conversations and email chains with my previous employer to give me the Roles and responsibility letters. Now when I have received those the main problem is this POF.

I dont have $12000 in my account. I was able to save around $5000 till now. I can ask my brother to give me some money and can reach the amount of $12000. But I dont understand if I have a stable job in my case GOVT. job why I have to show that money because I can support myself with my salary.

My question:- The average amount of my account will not be good for last 6 months. Is it ok to show just the last month balance and wait till they come and ask me for 6 months balance-sheet. I dont know how to deal with this situation. Does anyone in here faced same problem where they dont have good money in account but working in canada made a difference.

 

[Stanlee]

Hello Everyone,

I am sure most of the people are in same boat and have same confusion.
Most of the people come here on student permit and complete their study in my case it was masters in computer science.
I completed my masters in september 2015 and got an open work permit on 1st Oct2015. I am working with the govt. of british columbia since then on an permanent role. Now i have filed my application under EE -FSW and below is my application:-

a) FSW score- 400
b) BC PNP nomination- Received (600 points)
c) Total points with me 1000.

I am sure I will get the ITA soon because of the points I have. I was going through a long phone conversations and email chains with my previous employer to give me the Roles and responsibility letters. Now when I have received those the main problem is this POF.

I dont have $12000 in my account. I was able to save around $5000 till now. I can ask my brother to give me some money and can reach the amount of $12000. But I dont understand if I have a stable job in my case GOVT. job why I have to show that money because I can support myself with my salary.

My question:- The average amount of my account will not be good for last 6 months. Is it ok to show just the last month balance and wait till they come and ask me for 6 months balance-sheet. I dont know how to deal with this situation. Does anyone in here faced same problem where they dont have good money in account but working in canada made a difference.

As per FSW (EE) funds requirement, it states the following.

You must show that you have enough money to support yourself and your family after you arrive in Canada, unless you:
- are currently able to legally work in Canada, and
- have a valid job offer from an employer in Canada.

You can check this link http://www.cic.gc.ca/english/immigrate/skilled/apply-who.asp

In your case, since you are able to legally work in Canada and have a job offer, you need not show any funds (as mentioned in the link)

 

[MOBEENSAQ]

the amount of fund which i mentioned in my schedule 4 request was of old lico for 4 people $ 22,200 wheras new lico revised few days before my application submission was $22,600. i came to know later. my proof of fund document was showing more than lico. but what i mentioned in schedule 4 are short by $ 400. although i have other funds as well. what should i do now? how can it effect my application?

 

[sushilsrk]

As per FSW (EE) funds requirement, it states the following.

You must show that you have enough money to support yourself and your family after you arrive in Canada, unless you:
- are currently able to legally work in Canada, and
- have a valid job offer from an employer in Canada.

You can check this link http://www.cic.gc.ca/english/immigrate/skilled/apply-who.asp

In your case, since you are able to legally work in Canada and have a job offer, you need not show any funds (as mentioned in the link)

well second point is a hyperlink to VALID JOB OFFER. that part is tricky as it consider only LMIA jobs and nothing else.

 

[nekeol]

the amount of fund which i mentioned in my schedule 4 request was of old lico for 4 people $ 22,200 wheras new lico revised few days before my application submission was $22,600. i came to know later. my proof of fund document was showing more than lico. but what i mentioned in schedule 4 are short by $ 400. although i have other funds as well. what should i do now? how can it effect my application?

just wait they will ask you to send them updated documents. kindly try to keep more than the lico limit such as $23,000 to be on safe side

 

[MOBEENSAQ]

just wait they will ask you to send them updated documents. kindly try to keep more than the lico limit such as $23,000 to be on safe side

CAN YOU CALRIFY ME THE DATE NEW LICO FIGURES UPDATED ON CIC WEBSITE. I HAVE JUST CAME TO KNOW FROM THIS THREAD THEY GOT UPDATED IN MARCH 2016.IF SO MY AOR IS 10TH FEB 2016. MEANZ STILL THE AMOUNT I GAVE IN SCHEDULE4 IS $30 MORE THAN LICO
THANK U IN ADVANCE

 

[schoudhury]

Hi!
If I show term deposit as part of my POF, what document should I provide for it? I opened this account 2-2.5 yrs back and it matures in another 5-6 months. I spoke to the bank and they said they will give me an advice stating all the information about the account but that wouldn't have any signature as it will be system generated. Will that work?

Rest of my POF will come from another bank where I hold my savings account for which I will get the bank certificate stating assets/liabilities breakup.

Thanks in advance!

 

[Stanlee]

Hi!
If I show term deposit as part of my POF, what document should I provide for it? I opened this account 2-2.5 yrs back and it matures in another 5-6 months. I spoke to the bank and they said they will give me an advice stating all the information about the account but that wouldn't have any signature as it will be system generated. Will that work?

Rest of my POF will come from another bank where I hold my savings account for which I will get the bank certificate stating assets/liabilities breakup.

Thanks in advance!

For term deposits like FD, banks issue FD Receipts/FD Advice, you can submit those. Try to get it stamped by the bank.

 

[aditya127]

Hi,

My PF is maintained by Employer's trust and not the PF office.
Can we show the Provident Fund receipts from Employer as POF?

Regards,
Aditya

 

[Asivad Anac]

well second point is a hyperlink to VALID JOB OFFER. that part is tricky as it consider only LMIA jobs and nothing else.

True. The only way you'll be exempted from POF is by either having an LMIA job or getting invited under CEC class.