Proof of Funds for those from Singapore

[pocoyo]

Hello Guys,

Anybody here applying immigration for canada from singapore?
I am currently a PR in singapore and I am banking only on my CPF (Central Provident Fund) for proof of funds. Is this acceptable or do I really need to show a bank account as a proof?
Thanks for your reply.

 

[tran]

In my opinion, it's not sufficient just to show your CPF as proof of funds.
You need to show other liquid assets(fixed deposit, stock, etc.).

CPF is like a fish trap; very easy to go in, but extremely difficult to get out.
You need to renounce your Singapore PR to get your CPF. Even then, you don't
get your CPF immediately. If you're from West Malaysia, tough luck, you need
to wait until 55?

For my case, I need to get my Canadian citizenship first and then renounce
my Singapore citizenship - only then I can get my CPF.

Good luck!

 

[pocoyo]

Thanks a lot Tran for the info.

 

[mediajunkie]

I have a Canadian bank account with CA$10,000 inside, and I borrowed S$100,000 from my aunt and left it in my Singapore bank account for 2 months to show them proof of funds. I showed them the statements from both months. If you have a place to borrow the money, in whatever currency, just borrow it, make the bank print a statement, and send it to the high commission.

 

[pocoyo]

Thanks mediajunkie,

Though I have not been asked for this fund yet as I have just sent my application 2 weeks ago, I just want to be prepared in case CHC ask me for proof of fund. You're right, I need to find a place borrow this amount. Thanks a lot.

 

[Four Angels]

Hello Guys,

Anybody here applying immigration for canada from singapore?
I am currently a PR in singapore and I am banking only on my CPF (Central Provident Fund) for proof of funds. Is this acceptable or do I really need to show a bank account as a proof?
Thanks for your reply.

Hi,
Were you able to use your cpf as your proof of fund?

 

[Centaur]

Amount from CPF could be shown as POF, among other sources. What might play though, is the possible caveat mediajunkie said above. Also, please note, sudden appearance of monies into account that are not with out a source of income, are questionable. Will you be particularly questioned, is a matter of probability.

Thanks mediajunkie,

Though I have not been asked for this fund yet as I have just sent my application 2 weeks ago, I just want to be prepared in case CHC ask me for proof of fund. You're right, I need to find a place borrow this amount. Thanks a lot.

 

[Cappuccino]

I have a Canadian bank account with CA$10,000 inside, and I borrowed S$100,000 from my aunt and left it in my Singapore bank account for 2 months to show them proof of funds. I showed them the statements from both months. If you have a place to borrow the money, in whatever currency, just borrow it, make the bank print a statement, and send it to the high commission.

Don't do that.

That's illegal immigration fraud.

Borrowed funds CANNOT be used as proof of funds. The money must belong to you. CIC are very explicit about this. The idea of asking for proof of funds to begin with is that they want to know you are a financially stable applicant. They don't want immigrants coming into Canada heavily in debt.

Please ignore mediajunkie. If you apply with borrowed funds and are caught, not only will they reject your application but they can make you inadmissable to apply for a number of years.

Wayne.

 

[Cappuccino]

Amount from CPF could be shown as POF, among other sources. What might play though, is the possible caveat mediajunkie said above. Also, please note, sudden appearance of monies into account that are not with out a source of income, are questionable. Will you be particularly questioned, is a matter of probability.

Borrowing money is not permissible for settlement funds for FSW1. Period.

CIC are getting wiser to this and I've heard of asking to see further proof of funding at various stages in the process, and also applications being rejected when the visa officer is not convinced the money belongs to the applicant.

Wayne.

 

[alertjeba]

I am relying on the Gold my family has. I am going to pledge the Gold and put the money in Fixed deposit to get a certificate to show to CIC. Is this acceptable. Do I need any additional documents or explanation as the Fund would have appeared in 1 shot in my bank account.

Appreciate your time and effort to help others.

Regards
AJ

 

[slow_jun]

In my opinion, it's not sufficient just to show your CPF as proof of funds.
You need to show other liquid assets(fixed deposit, stock, etc.).

CPF is like a fish trap; very easy to go in, but extremely difficult to get out.
You need to renounce your Singapore PR to get your CPF. Even then, you don't
get your CPF immediately. If you're from West Malaysia, tough luck, you need
to wait until 55?

For my case, I need to get my Canadian citizenship first and then renounce
my Singapore citizenship - only then I can get my CPF.

Good luck!

I have a friend who denounce his PR ship, 3 weeks he got all of his CPF money plus interest.
I think this is the old SLOW system in PR CPF withdrawal, now, you can get your money in less than a month.

But anyone here been questioned with their CPF when used as POF while applying for their VISA?