Proof of Funds (Express Entry)

[sadiyarehman]

Hi,
I have a query. If a couple is applying for PR, where the husband is the principal applicant, then can both of them show their account statements for Proof of Funds? Logically, if both are going to Canada then bank statements for both should be valid?

If not, then how can the wife suddenly transfer the amount of money in husband's name?
In India, one also has the Employers Provident Fund which becomes available after leaving the job. Can that be shown as Proof of Fund. Also, if the EPF belongs to the wife (not the Principal Applicant) what can be done?

Regards

Seniors please respond.??

 

[bimale4bipeople]

As I can see, each bank has a different way to show the average balance (when they do it!)

If they state the balance like as follows:

''Account date opening is 12/05/2013.

Balances in the Account have been in the [low][high] ______ figures since the opening of the Account''

Considering the ''low x high figures'' is, for instance, [CAD40,000; CAD60,000], do u think this is sufficient to address the POF requirements in terms of ''current balance'' and ''average balance for the past 6 months''??

From my POV, it is an odd way to show but it does cover the requirements.....If the main goal is to see if you have the minimum amount and that the money is not borrowed, by doing so, it is possible for the VO to assess that.

What ur opinion u guys?

IMHO it should be one number rather than showing a stock market like high and low

 

[Archavin89]

IMHO it should be one number rather than showing a stock market like high and low

Thx for ur opinion....

I would say that one figure would be better. But do u also agree that putting is this way, and considering the figures in the example, it is possible to affirm that not only the current balance but also the average is way beyond the minimum required?

The said they could not change the template. =/

They have been pretty helpful tho.

 

[bimale4bipeople]

Thx for ur opinion....

I would say that one figure would be better. But do u also agree that putting is this way, and considering the figures in the example, it is possible to affirm that not only the current balance but also the average is way beyond the minimum required?

The said they could not change the template. =/

They have been pretty helpful tho.

OK, will you be adding 6 months statement along with this letter ? if yes, they can justify to the case officer the wild swing...

 

[Archavin89]

OK, will you be adding 6 months statement along with this letter ? if yes, they can justify to the case officer the wild swing...

Not sure....=/

.....I was expecting to put everything in the bank letter. Maybe I should try convince them to state figures in a more ''traditional'' way.

But the thing is that, I believe, they ask for 6 months average in order to see if the money is borrowed or not (odd influx of money etc), right? In this odd template, still possible to assess it.

 

[bimale4bipeople]

Not sure....=/

.....I was expecting to put everything in the bank letter. Maybe I should try convince them to state figures in a more ''traditional'' way.

Attach the 6 months bank statement along with the letter you get from the bank and close the loop

 

[Archavin89]

Attach the 6 months bank statement along with the letter you get from the bank and close the loop

Tbh I do not see why I would need to prove the last 6 months if I am showing that I have a larger amount since the account opening (2013) n never went below 40k CAD

 

[bimale4bipeople]

Tbh I do not see why I would need to prove the last 6 months if I am showing that I have a larger amount since the account opening n never went below 40k CAD

I was saying wrt low and high balance that your bank is providing.
If the avg balance variance of $20K is high and the officer might wana know what is causing this big a difference.
Anyways rest is up to your judgement.

 

[paigeparmy]

I've read some threads that they can't verify the amount in your account. But, they sometimes request updated bank letter or statement after AOR

thank you for your reply!

 

[xel01]

Hi thanks! We already have enough fund. But in this particular form of NB, we have to put the assets and liabilities for computation of personal net worth. My only concern is that do they evaluate based on personal net worth or liquid cash to meet the “proof of fund”?

hi @pizzacat were you able to find the answer to this? I'm in the same situation. How do we fill out the personal net worth if asset-liabilities = net worth

 

[Mat909]

Does any one if we can show money in spouse's account as POF , while I'm the primary applicant . please advise

 

[Saran12]

I am in US and my father is going to provide me gift deed from India to my Indian bank account. So is it compulsory for me to be in India to prepare the gift deed(for signing the gift deed)? Or is it ok to that he transfers money to my account and prepares gift deed with only his signature?

 

[Sunapollo]

Hello Guys,

I have my savings account, PPF and Demat account in one bank. Savings account has enough money, do I need to show my Demat account ( shares and mutual funds) or PPF ?

Or only savings would be enough as PPF and equity is not as liquid as cash?

 

[Hassan.Fahm]

Seniors please respond.??

Well, prepare a consolidated statement of fund showing available funds for both of accounts (Average Balance of CAD X in Account A owned by you) and (Average Balance of CAD Y in Account B owned by spouse).

--- Sorry cannot attach an excel sheet here-----

 

[Sunapollo]

Hello Guys,

I have my savings account, PPF and Demat account in one bank. Savings account has enough money, do I need to show my Demat account ( shares and mutual funds) or PPF ?

Or only savings would be enough as PPF and equity is not as liquid as cash?

Hello can someone please help?