Proof of Funds (Express Entry)

[vishalg]

Need help please.

My father has transferred me the required funds from his joint account with my mother.
Can i include both of their names as Donors in the Gift Deed/Declaration and get it signed by both of them ?

yes, they both have to be the donor's as it is a joint account

 

[EVEN COOL]

Hey Everyone,

I need some information regarding proof of funds

Recently i have made my ee profile, i have does not have funds in my account right now

it will be transferred from my father's account i will show as a gift ,

so my questions are

1. for how many time i have to show that i have funds?

2. second is after getting ITA i have to show my proof of funds or before at time of ee?

 

[vishalg]

Hey Everyone,

I need some information regarding proof of funds

Recently i have made my ee profile, i have does not have funds in my account right now

it will be transferred from my father's account i will show as a gift ,

so my questions are

1. for how many time i have to show that i have funds?

2. second is after getting ITA i have to show my proof of funds or before at time of ee?

did not understand your question 1. But you proof of of funds at the time of application submission post ITA.
2. You can do it post ITA also. Make sure you get the gift deed prepared and proof of transfer

 

[EVEN COOL]

did not understand your question 1. But you proof of of funds at the time of application submission post ITA.
2. You can do it post ITA also. Make sure you get the gift deed prepared and proof of transfer

Let me correct myself ..

my question is for how long i have to show bank statement of mine or my father's bank statement?

 

[vishalg]

Let me correct myself ..

my question is for how long i have to show bank statement of mine or my father's bank statement?

wherever you are showing bank statements show it for the last 6 months.

 

[One_Topsy]

Is it mandatory to show the bank statement of the applicant and the donor as well? or just the applicant?

 

[DelPiero07]

Is it mandatory to show the bank statement of the applicant and the donor as well? or just the applicant?

The applicant.

People show the donor's bank statement as proof of transfer but if you have any other proof then simply prove it along with your bank statement.

 

[cavemen]

Hey guys I have a few queries and kinda finding it difficult to get answers for

we as a couple are applying for immigration and I being a prime applicant has a shot coming in the funds required for POF in my account. However my husband will also be accompanying me to Canada and has enough funds in his bank account to make up for our requirements.

Is it required for him to transfer the funds into my account ? or a simple LOE from him stating that he too is a co-applicant and his funds in his account are for the purpose of immigration and they are there for my disposal ?
Do I need to attach any loans or credit cards on his name since he is a joint applicant ?

Also even if I have not maintained a healthy average in my 6 months statement and there is an influx into my account from liquidating my savings in the form of stocks for which I will be attaching my supporting documents showing that transactions, do I need to wait to maintain the balance for at-least a month before filling my ITA or can I file it asap?

Would love to find answers to this plz ..

Cheers

anybody ?

 

[DelPiero07]

anybody ?

1 - Yes, since he is accompanying the money can be in his account.
2 - No, no need to provide credit cards and other loans.
3 - You can file asap.

 

[cavemen]

Thanks a lot !!!

 

[Visitor89]

Hello Friends,

I have few questions about the EE funds requirements.

I have a term job in Canada, I cannot show it as a permanent job but it does give me approx 3000 a month. I hold a joint bank account with my mother and father which has a fixed deposit of around 21000 CAD. I have a car loan of 23,000 in Canada and an education loan of 30,000 in India. I'm planning to apply EE for me and my spouse. Can I just show the fixed deposit I have and proceed with the application or I have to show the car loan as well. If I show the car loan it might result in rejection for me?

 

[Mthornt]

Car loan will not result in rejection.

 

[Visitor89]

Car loan will not result in rejection.

but is it mandatory that i declare it?

 

[visitor99]

Hi, I received my ITA in february. By the time I received it I had about 8000$ of savings (not for 6 months though) and I am saving every pay cheque now to get the 12300$. Now my question, is it okay to save up until submitting my application? I don't have the money for 6 months in my account but I could provide copys of my payslips to prove the money was earned and not borrowed. Is that okay or should I decline the invitation?
Also, I am working on a young professional visa already here in Canada and my Visa is valid until September. Would that even be prove enough or do I still need the funds?
Thanks a lot for your help!

 

[Mthornt]

There is no requirement that you have the amount of funds for the entire 6 months, only when you apply (and possibly at landing as well). As long as you can prove you didn't borrow the fund to get the difference between what you average in your account, and a large increase in the balance near application date to meet the POF requirement, you'll be fine.