Proof of Funds (Express Entry)

[patnikrishna]

Guys, I have doubts regarding my PoF.

I kept my PoF in cash, it was a gift from my mother. Gift deed was signed October 2015

I opened a FD 2 weeks ago, deposited the cash the same day and got a bank statement the same day.

So now I have:
- Gift Deed (Oct 2015)
- Balance Certificate on bank letterhead (10 Aug 2016)
- Bank statement stamped by the bank (balance from 10 Aug 2016 to 10 Aug 2016)
- Letter of Explanation for the gift money

My bank statement does not show oppening date
but I can explain it in a LOE that is a new FD.

What do you think?
I'm worried about the date of my gift deed and the absence of oppening date on the bank statement.

OINP seems to be sutisfied with this PoF, but I am not sure about CIC :-[

do you mean the opening date of the FD in the bank statement ?
usually the FD comes with a tenure say 6 months and also the end date of the FD.
This should be self explanatory to anyone ( be it OINP or CIC ) to see the start date.
Hope this helped.

 

[Skvach]

do you mean the opening date of the FD in the bank statement ?
usually the FD comes with a tenure say 6 months and also the end date of the FD.
This should be self explanatory to anyone ( be it OINP or CIC ) to see the start date.
Hope this helped.

Ok, thanks for clarification.
It does not have an exact end date, but it is written that the deposit is for 1 year and can be revoked.

Guys, any idea about the gift deed?

 

[eagleworld]

[Hi,Thank you for your response,can you please tell me how i can justify my funds in account if they are not 6 months old,can you please tell me how and at what format i can use for Gift deed............ is there any specific gift deed specimen and how i can register that one with notary public also can you tell me at what stage i have to show this gift deed agreement as a proof of fund...........thanks]

 

[Skvach]

If you want to get it notorized, usually a public notary has it's own from, you can just ask a notary - one should explain everything to you - that's was I did.

Use search for "Gift Deed" - I saw some formats of it on the forum.

You need it along with your bank statement as proof of funds after you get federal or provincial ITA.
I think a gift deed must be singed before you order a bank statement.

 

[DW]

Hello experts!! Need your guidance.

Q 1. At the port of entry, how am I suppose to show proof of fund?

Q 2. I have heard that, if you are carrying more than 10K CAD you have to declare the said amount. So if I am carrying 2-3K cash and rest in some other form still I need to declare?

 

[Skvach]

Q 2. I have heard that, if you are carrying more than 10K CAD you have to declare the said amount. So if I am carrying 2-3K cash and rest in some other form still I need to declare?

No, you don't .

 

[istari]

Hello experts!! Need your guidance.

Q 1. At the port of entry, how am I suppose to show proof of fund?
An updated bank statement.

Q 2. I have heard that, if you are carrying more than 10K CAD you have to declare the said amount. So if I am carrying 2-3K cash and rest in some other form still I need to declare?
Yes, you do.
CIC's website (http://www.cic.gc.ca/english/immigrate/skilled/funds.asp) clearly states:
"Canadian customs regulations require you to declare if you are bringing more than CAN$10,000 into Canada. If you do not tell them, you may be fined, and your funds could be seized. These funds could be in the form of:
- cash,
- documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.), or
- documents that guarantee payment of a set amount of money, which are payable to you (such as bankers’ drafts, cheques, travellers’ cheques or money orders)."

 

[eagleworld]

Skvach
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Re: Proof of Funds (Express Entry)
« Reply #900 on: August 26, 2016, 02:45:39 pm »
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Quote from: patnikrishna on August 26, 2016, 02:21:52 pm
do you mean the opening date of the FD in the bank statement ?
usually the FD comes with a tenure say 6 months and also the end date of the FD.
This should be self explanatory to anyone ( be it OINP or CIC ) to see the start date.
Hope this helped.
Ok, thanks for clarification.
It does not have an exact end date, but it is written that the deposit is for 1 year and can be revoked.

Guys, any idea about the gift deed?
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eagleworld
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Re: Proof of Funds (Express Entry)
« Reply #901 on: August 28, 2016, 01:50:19 am »
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[Hi,Thank you for your response,can you please tell me how i can justify my funds in account if they are not 6 months old,can you please tell me how and at what format i can use for Gift deed............ is there any specific gift deed specimen and how i can register that one with notary public also can you tell me at what stage i have to show this gift deed agreement as a proof of fund...........thanks]
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Skvach
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Re: Proof of Funds (Express Entry)
« Reply #902 on: August 28, 2016, 02:04:13 am »
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If you want to get it notorized, usually a public notary has it's own from, you can just ask a notary - one should explain everything to you - that's was I did.

Use search for "Gift Deed" - I saw some formats of it on the forum.

You need it along with your bank statement as proof of funds after you get federal or provincial ITA.
I think a gift deed must be singed before you order a bank statement.

 

[JSN_2016]

Hello friends,

I have transferred the funding from chequing to my TFSA account. For proof of funding, If I submit my TFSA statement, will CIC accept it or not?

I heard from somebody in the past that they got problems when they had their fundings in GIC.

According to CIC, funds from which accounts are acceptable.

 

[Canada2425]

Hi Guys,

Sorry if this post is redundant for you all.

I have few queries regarding PoF. People from India having similar experiences are better placed to answer, others also pitch in

1. Can I represent Provident Fund Balance as PoF? I was not sure about this one but read today that it's valid as PoF.
Link: http://www.canadavisa.com/canada-immigration-discussion-board/procedure-to-get-pf-balance-certificate-and-ac-statement-from-pf-office-india-t412640.0.html
2. Can I use my mutual funds investments as PoF? I can use the statement provided by the broker/Mutual Fund account, will that suffice.

Thanks in advance.

 

[anirudhap]

Hi Guys,

Sorry if this post is redundant for you all.

I have few queries regarding PoF. People from India having similar experiences are better placed to answer, others also pitch in

1. Can I represent Provident Fund Balance as PoF? I was not sure about this one but read today that it's valid as PoF.
Link: http://www.canadavisa.com/canada-immigration-discussion-board/procedure-to-get-pf-balance-certificate-and-ac-statement-from-pf-office-india-t412640.0.html YES
2. Can I use my mutual funds investments as PoF? I can use the statement provided by the broker/Mutual Fund account, will that suffice. YES

Thanks in advance.

 

[zanny]

Hi Guys,

Sorry if this post is redundant for you all.

I have few queries regarding PoF. People from India having similar experiences are better placed to answer, others also pitch in

1. Can I represent Provident Fund Balance as PoF? I was not sure about this one but read today that it's valid as PoF.
Link: http://www.canadavisa.com/canada-immigration-discussion-board/procedure-to-get-pf-balance-certificate-and-ac-statement-from-pf-office-india-t412640.0.html
2. Can I use my mutual funds investments as PoF? I can use the statement provided by the broker/Mutual Fund account, will that suffice.

Thanks in advance.

1. Yes you can show EPF (not PPF) as proof of fund

2. NO you can't show mutual fund as proof of fund. The amount must be in your bank account or liquid. Considering the market fluctuations inherent to mutual funds, it is not considered as part of PoF. Sell those units and move the money to your account.

 

[kamy]

HELLO FOLKS FROM INDIA--ANYBODY SUCCESSFULLY USED DOWNLOADABLE EPF PASSBOK AT CIC STAGE FOR PROOF OF FUNDS?

I have successfuly used UAN Passbook for SINP application as proof of funds. Is this Computer generated file accepted by CIC as valid POF, has anyone used it successfully and PR got approved. I tried at EPF Gurgaon office to get signed letterbut they refused to give any document for the same.

 

[zanny]

HELLO FOLKS FROM INDIA--ANYBODY SUCCESSFULLY USED DOWNLOADABLE EPF PASSBOK AT CIC STAGE FOR PROOF OF FUNDS?

I have successfuly used UAN Passbook for SINP application as proof of funds. Is this Computer generated file accepted by CIC as valid POF, has anyone used it successfully and PR got approved. I tried at EPF Gurgaon office to get signed letterbut they refused to give any document for the same.

Yes it works. I had used it for my PoF

 

[kamy]

Yes it works. I had used it for my PoF

Thanks Zanny, I'm half relieved hearing of some positive news. Did you provide any other document along with UAN Passbook to strengthen the evidence.