Proof of Funds (Express Entry)

[DelPiero07]

My situation is depending to savings from salary - Is there any kind of document to provide as a proof, or it is enough to indicate and explain it in LOE?

Bank statements for one to show the gradual increase. Other than that a LOE and that's that.

 

[noman_pe]

Hi All,

Appreciate the way senior members of this thread are helping applicants of EE. I have a quick query on PoF for EE.

Can the Legal value, not the market valuations, of a property be considered for PoF? The Official stance on the question is that Funds must be readily available to you. For example, you can't use equity on real property as proof of settlement funds. https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/become-candidate/eligibility/proof-funds.html

Actually, I have a plot with reliable housing scheme registered to my name. I've paid all the installments which amount to more than funds required for my application. Whereas, the market value would greatly surpass the requisite money.
Would that work or I've to sell it to substantiate PoF?

Thanks for guidance.

Noman

 

[Snapdragon]

Hi.
Before getting ITA I showed 19000$ as the sum that i will bring for 2 people. I do have that money but i don't want to go through the process of arranging gift deed or NOC. Would it be a problem if I change the sum to 16000$ which is still above the necessary amount for 2 people?

 

[DelPiero07]

Hi.
Before getting ITA I showed 19000$ as the sum that i will bring for 2 people. I do have that money but i don't want to go through the process of arranging gift deed or NOC. Would it be a problem if I change the sum to 16000$ which is still above the necessary amount for 2 people?

Oui.

 

[gihank]

Hi all,

Greetings. I have a good CRS score and this is regarding the PoF.

I have taken a loan with a different bank and is 75% completed and my saving account is in this bank.
I have several Fixed Deposits in another bank totaling up-to 11000 CAD.

Do i need to provide LoE for my savings account also? Because after another few months, my loan will be completed and will contain the required amount 12300 CAD with my monthly salary.

Is the FD certificate and savings account summary for the last 6 months enough?

anyone?

 

[Snapdragon]

Oui.

Meaning it will be a problem and I better don't change the amount?

 

[DelPiero07]

Meaning it will be a problem and I better don't change the amount?

Nah, I misread. Meaning you are free to provide any amount as long as it is above the required funds.

 

[Snapdragon]

Nah, I misread. Meaning you are free to provide any amount as long as it is above the required funds.

Got it! Thanks!

 

[Hasan Raza Awan]

Hi.

I got a bank certificate showing the average balance for the past 6 months. Do I still need to provide 6 months bank statement?

Thank you!

If average balance is shown/mentioned for the past six months than there is no need of bank statement.

Regards

 

[anju355]

Anyone can please answer this?

Hi,

My question is related to some large transactions.
In July 2017, I gave loan to one of my relative and transferred that amount to his account. In November 2017 while applying for PNP that amount is transferred back to my account.
I am transferring my Provident fund amount in that account too, which will be explained in LOE.

Now my question is related with that transaction (loan transaction given to relative around 4,00,000). Do I need to write any kind of LOE for that too? If so, will it be fine if I write it as a loan and then get it back?

Thanks,

 

[Hasan Raza Awan]

Hello All
There is a query.
I have submitted Express entry application last months. At that time minimum funds required for 3 persons were 18,825 CAD but now I have checked CIC website it changed to $19,092 for 3 persons and I mentioned in my application that I will bring $19,000 with me. So, will this change effect my application and eligibility?

 

[alket.z]

Hello, Can somebody please advise me on what to do. I planning to create EE profile but can I use as PoF the money gifted by my brother recently this month. I have opened a savings account and notarized a gift deed. Will it be enough ?
I am applying through OINP.

 

[DelPiero07]

Hello All
There is a query.
I have submitted Express entry application last months. At that time minimum funds required for 3 persons were 18,825 CAD but now I have checked CIC website it changed to $19,092 for 3 persons and I mentioned in my application that I will bring $19,000 with me. So, will this change effect my application and eligibility?

No issue.

 

[Hasan Raza Awan]

No issue.

But the thing which is confusing me the page update Date which is mentioned on POF page of CIC website is of the month of August 2017. (Date modified: 2017-08-09) and I am 110 % sure that it was not changed when I applied It is changed in the month of January 2018.

 

[DelPiero07]

But the thing which is confusing me the page update Date which is mentioned on POF page of CIC website is of the month of August 2017. (Date modified: 2017-08-09) and I am 110 % sure that it was not changed when I applied It is changed in the month of January 2018.

Correct, they updated the funds this year.