proof of funds? Federal skilled worker

[mal_pra007]

Hello Experts,
Request you to kindly clarify my below doubts regarding 'Proof of Funds'

1. Can I show the money invested in stocks as a 'Proof of Funds'? If so, will the letter/certificate(with seal and signature) from the company showing my stocks and the value is enough?

2. Do I need to send this certificate showing my stock holding at the time of sending application to CIC? or can I show at the time of granting visa?

3. How long do we need to maintain this funds?

Regards,
Kumar

 

[mal_pra007]

Hello Experts,
Please reply to my questions.

Regards,
Kumar

 

[rohitcan]

Hello Kumar,

1. Can I show the money invested in stocks as a 'Proof of Funds'? If so, will the letter/certificate(with seal and signature) from the company showing my stocks and the value is enough?

No. U can't show the money invested in stocks, because these are the variable assets.
Better to liquefied them , put them in your bank account and then get the bank balance certificate from the back and send to CIC

2. Do I need to send this certificate showing my stock holding at the time of sending application to CIC? or can I show at the time of granting visa?

refer same as answer 1

3. How long do we need to maintain this funds?

U need to maintained the funds till the tym u landed in Canada, better if you read the below URL and I hope this will help u to understand the POF factor.

http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

 

[mal_pra007]

Hello Rohitcan,
Many thanks for your reply. As per CIC link

"Bring as much money as you can to make moving and finding a home in Canada easier. Note, however, that Canadian customs regulations require you to declare if you are bringing more than C$10,000 into Canada. If you do not tell them, you may be fined or put in prison. 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).
Also in this topic"

It is mentioned here that we can show stocks, bonds etc. Please correct me if i am wrong

 

[rohitcan]

MP007
Hello Rohitcan,
Many thanks for your reply. As per CIC link

"Bring as much money as you can to make moving and finding a home in Canada easier. Note, however, that Canadian customs regulations require you to declare if you are bringing more than C$10,000 into Canada. If you do not tell them, you may be fined or put in prison. 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).
Also in this topic"

It is mentioned here that we can show stocks, bonds etc. Please correct me if i am wrong



Please read again , It would be applicable only if one get the PR and landing to Canada.

But , while applying and showing POF , in that case , one need to show the bank balance or FD statements ( if any )

Refer below URL

http://www.cic.gc.ca/english/pdf/kits/forms/IMM5612E.pdf

and refer section 15 of PDF .

 

[Snehan]

You need to collect balance certificate where the bank will certify the bank balance as current date

If u take the bank statement, it will show DATE of various transactions (which will show that u had deposit large amount in 1day and it will create a problem for u later on)

In balance certificate it will not show any transactions such as cash deposited on 1st may 10,00,000.

Balance certificate will show balance of xxxxxxx as of 27th may 2013

Hi Coolguy,

There is big chance that the case officer/visa office will ask for bank statement later on ? So the risk remains till the end if a large amount was deposited and no matter if you provide balance certificate. What to do when you are requested to provide bank statement later on ?

 

[SMani]

The reason CIC is asking for proof of funds is simple.. The name itself tells you.. Settlement Funds..

Once you land you may take time to settle down.. During such time CIC does not want you and your family to be a burden on the tax payers money.. They want you to take care of yourself without depending on the Govt of Canada..


Please take this issue seriously and try to arrange for enough liquid funds at the time of application and try to maintain that balance till you land and settle down.. Its for your own benefit that they are insisting on settlement funds..The amount they ask for is the minimum and it will not be enough if you get into trouble once you land..

 

[mal_pra007]

Hello Rohitcan,
Many thanks for your prompt reply.

I am planning to apply for FSW next month end. So, if i keep the funds available in my bank account, from this week...will that be okay?
or
is there any time frame from which i need to keep the money before sending the application. Kindly clarify

 

[rohitcan]

That will be fine.

But make sure , this money truly owned by you.

and also kindly maintain the bank balance till the time u won't get PR.

Best of luck !!!!!

 

[mal_pra007]

Thanks Rohitcan,
you are marvellous

 

[rajakumarjk]

I am from Chennai, India.
Can I show my Provident fund balance report which is downloaded from Employee provident fund organization website as a proof of funds?

 

[deyka]

I am from Chennai, India.
Can I show my Provident fund balance report which is downloaded from Employee provident fund organization website as a proof of funds?

I think youcan ..I have seen other forum member doing that...can put in a covering letter mentioning the fact that you can withdraw the fund any time..

 

[ektaahm]

Hello All,

1. Can my father-in-law show his PF for my husband's (main applicant) settlement's fund?
or
2. Can we borrow money from some freinds-family and put that into my husband's a/c and take the bank balance certificate?
or
3. Can i show my gold jewellery?

 

[sujwal]

Hello All,

1. Can my father-in-law show his PF for my husband's (main applicant) settlement's fund?
or
2. Can we borrow money from some freinds-family and put that into my husband's a/c and take the bank balance certificate?
or
3. Can i show my gold jewellery?

Q1. No
Q2. No, Bank balance certificate is valid while you apply to CIC however, a visa officer may ask balance statements anytime during the process. Also, PoF is required when you land in Canada. So, if you can borrow money for until your entire process then its fine, but this is not recommended. This will be misrepresentation..
Q3. No

 

[laviyash]

HELLO seniors
me and my partner are currently in canada...i am principle applicant and my husband is here in canada on work permit...as my spouse is already working in canada so still do we need to show pof??thanks