proof of funds for skilled workers

[mayoress]

Hello to all.
Pls can i include property valuation document in my POF since my bank account does not av d required fund?

 

[Allegra66]

@ Mayoress - that is what I did. As I had spent which is to be expected some of my money, I did not have enough in my account and as the POF allowed for Property, I had my property valued with a valuation statement from the Agents as well as a copy of my mortgage statement showing what was still owing. This was accepted and I have had my visa since March.

 

[Hen-Pecked Husband]

Hi all;

new here, like everyone else I too have various queries regarding the steps involved in immigrating to Canada. Keeping in line with the topic of this thread I would like to inquire if the POF needed to be shown upon landing are as per the latest release corresponding to the period around landing or do we have to show POF as per the requirements at the time of our application?

Thanks.

 

[echoes1978]

If I have 100 000 CAD mortgage on my apartment and I have only 20 000 CAD on my regular account which are transferable, can I cover the amount of mortgage with property (apartment) evaluation? Do we have to sell our apartment to cover the mortgage, or we can say that we will pay that mortgage from Canada?

I am confused.

 

[aspire]

In my opinion it should be as per the time of landing. POF amount is determined according to the current economic standard of Canada, and the purpose of it is to see to it that you have enough money to support you and your family needs for the first 6 months of your stay in Canada.

Hi all;

new here, like everyone else I too have various queries regarding the steps involved in immigrating to Canada. Keeping in line with the topic of this thread I would like to inquire if the POF needed to be shown upon landing are as per the latest release corresponding to the period around landing or do we have to show POF as per the requirements at the time of our application?

Thanks.

 

[aspire]

Chances are less but I would never take risk. And besides, POF are not meant just to comply with CIC's requirements for visa issuance. Believe me, you will be needing this money during your first 6 months here in Canada. Bring the entire POF amount to Canada with you.

What are the chances of CIC to check the POF or ask for Bank Statement, after they have issued the Medical request & RPRF ?

 

[echoes1978]

If I have 100 000 CAD mortgage on my apartment and I have only 20 000 CAD on my regular account which are transferable, can I cover the amount of mortgage with property (apartment) evaluation? Do we have to sell our apartment to cover the mortgage, or we can say that we will pay that mortgage from Canada?

I am confused.

Dear seniors, can someone share his thoughts on this issue?

 

[aspire]

Are you paying your mortgage through one and the same bank where you deposited your 20,000? Which bank account statement you submitted for your immigration application?

Dear seniors, can someone share his thoughts on this issue?

 

[echoes1978]

Are you paying your mortgage through one and the same bank where you deposited your 20,000? Which bank account statement you submitted for your immigration application?

No, it is the other bank where I have 20 000 CAD and that statement can be submitted.

 

[Aquib]

Skilled workers and professionals: Who can apply—Proof of funds

The Government of Canada does not provide financial support to new skilled worker immigrants.

You must show that you have enough money to support yourself and your dependants after you arrive in Canada. You cannot borrow this money from another person. You must be able to use this money to support the costs of living for your family.

You will need to provide proof of your funds to the Canadian visa office in your home country when you submit your application for immigration.

The amount of money you need to support your family is determined by the size of your family. These amounts are updated every year.

Number of
Family Members Funds Required
(in Canadian dollars)
1 $11,115
2 $13,837
3 $17,011
4 $20,654
5 $23,425
6 $26,419
7 or more $29,414
You do not have to show that you have these funds if you have arranged employment in Canada.

How much money should you bring?

Find out how much it costs to live where you are planning to settle in Canada.

Bring as much money as possible to make moving and finding a home in Canada easier.

Disclosure of funds

If you are carrying more than C$10,000, tell a Canadian official when you arrive in Canada. If you do not tell an official, you may be fined or put in prison. These funds could be in the form of:

cash
securities in bearer form (for example, stocks, bonds, debentures, treasury bills) or
negotiable instruments in bearer form (for example, bankers' drafts, cheques, travellers' cheques or money orders).

If people think that this figure of settlement fund is too much then Trust me , CIC has calculated this less,
Whole PR process cost over $ 3000 for a couple with 1-2 childern then $ 4000 for flight to Canada (in most of cases ) ,
First 2 month are without any earning , you need $ 3000 for rent (1000 deposit and 2000 rent for 2 month)
Eating etc min 1000 ,cheap Second hand Car $ 2000 , insurance and other misc exp like mobile, fuel , licence , Internet etc $ 1000 . 700-800$ in getting licence if your occupation is regulated .

Theses are min average expense And I personally check with couple of people and they say that by end of 6 month they where less $ 20,000 compare to what they got at time of landing . (unless you looking to catch any coffee shop or Macdonald job within first month of landing )

Been told by my friend that he didn't get job for 5 month till he got his licence (engineer ) and PR card in hand .

 

[Akrum66]

"Bring as much money as possible to make moving and finding a home in Canada easier."

 

[drsara]

can anyone plz suggest me,i started to work on my application since April,n when i checked my account that was not sufficient for a family of 6,though i've an apartment on my name,and around more then 16o ooo can$at the moment ,I'll be sending my application in 1st wk of July,plz advice me shd i work to cover rest of the amount which i can ,as I'm suppose to get some loan return from my some parties and some commission or can i use my use my property evaluation paper to cover the rest of amount?actually I'm collecting all my money within 3 months and i'm worried i wouldn't make them suspicious about the source of money.actually earlier,my main investment was in property and some small business with little savings in my account.now how can i make my pof compatible with the requirement?plz help me i'm so confused

 

[mute_man]

can anyone plz suggest me,i started to work on my application since April,n when i checked my account that was not sufficient for a family of 6,though i've an apartment on my name,and around more then 16o ooo can$at the moment ,I'll be sending my application in 1st wk of July,plz advice me shd i work to cover rest of the amount which i can ,as I'm suppose to get some loan return from my some parties and some commission or can i use my use my property evaluation paper to cover the rest of amount?actually I'm collecting all my money within 3 months and i'm worried i wouldn't make them suspicious about the source of money.actually earlier,my main investment was in property and some small business with little savings in my account.now how can i make my pof compatible with the requirement?plz help me i'm so confused

the best thing is to put the required amount in your account and show it to the CIC.
do not hide loans. make sure that Total Worth - (Loans + Mortgage) > POF

if they ask about the sudden amount, just explain them where it came from and do submit some valid papers to back it up. as long as the money is yours, there's absolutely nothing to worry about.

generally they ask for POF again with PNWS (Personal Net Worth Statement) in the later part of the immigration process. at that time u can show, all the evaluating documents of your property, land, flat etc.

 

[riz1]

Hi every one,
My concern is I provide the proof of funds along with my FSW application back in 2010, and kept the required amount in my account for almost 16 months in a hope that my case will be finalised, but after 16 months wait without any hope, I decided to invest the money in a property due to the rapid devaluation of Pakistani Rs. and bought the property and rented it, I recieved the 6 to 12 months waits letter recently in which they clearly stated that do not resign from your job or sell your house etc until your case is finalised.
My concern is what's happen if they ask me for proof of funds again, can I use the property valuation certificate and explain them the reason of investing the money in property; will this work or I should start thinking about the selling of my property now to arrange the required amount.

Thanks

 

[mute_man]

Hi every one,
My concern is I provide the proof of funds along with my FSW application back in 2010, and kept the required amount in my account for almost 16 months in a hope that my case will be finalised, but after 16 months wait without any hope, I decided to invest the money in a property due to the rapid devaluation of Pakistani Rs. and bought the property and rented it, I recieved the 6 to 12 months waits letter recently in which they clearly stated that do not resign from your job or sell your house etc until your case is finalised.
My concern is what's happen if they ask me for proof of funds again, can I use the property valuation certificate and explain them the reason of investing the money in property; will this work YES or I should start thinking about the selling of my property now to arrange the required amount.

Thanks