Proof of funds requirements - Explained

[karans71184]

Can we use provident funds as proof of funds?

 

[parhar51]

Can we use provident funds as proof of funds?

@Karan71184,

Please note that CIC accepts only non-encumbered nd transferable funds,namely balance available in Bank's Savings,Recurring,Current nd Fixed Deposits a/c,shares/debentures ETC. Amount in ur PF a/c is available only after u relinquish the Job. Yes, if the employer gives in writing that a certain portion of the amount lying in ur PF A/C can be instantly withdrawn ,only that portion can acquire a liquid fund status nd hence fall under the domain of POF.

Hope, thus may help u !!

Good luck nd May God bless all !!!

parhar51

 

[rajkamalmohanram]

!!!!!!IMPORTANT NOTIFICATION!!!!!!​

I had raised a CSE last month to Delhi Visa Office (India) asking them if EPF can be used as proof of funds. To my surprise, last morning, received a mail from them telling that , YES, EPF can be used as Proof of Funds.

I have added the screenshot in my google drive. You can view it by clicking on the link below.

https://drive.google.com/file/d/0BygmBX-ugQw-bnU5aW1mc2psUVU/view?usp=docslist_api

Somebody might find this information useful. So, I'm posting it here.

Please note that I got this information from the Canadian High Commission in India. This response might hold good only for Indian applicants.

 

[Azhar1403]

HI everybody,

I am currently a postdoc and have a contract until end of 2016.. I would like to know if I still need proof of fund for my express entry application since I am currently working legally in Canada.. but the problem is that postdoc is exempt from LMIA...

Thanks,
Azhar

 

[scuba_blue]

Hi people...

After getting my immigrant visa now I am preparing for landing in Canada.
I am familiar with most procedures, but still I am concerned about one thing.

My question is - is it acceptable to bring (show) bank statement stating my account ballance (in CAD) printed on letterhead paper, signed and sealed by the Bank, and show it to CIC officers at the airport? I am not planning to bring more than 10.000 CAD in cash with me, but the money will be available via my Visa Bank card.
One more thing, I contacted Canadian Visa Office, but their answer was just part of the text copied from their website. So not helpful at all.

Thanks in advance guys, you've allways been so helpful.. and good luck with your visas (for those who are still in the process)

Cheers!

 

[rajkamalmohanram]

Hi people...

After getting my immigrant visa now I am preparing for landing in Canada.
I am familiar with most procedures, but still I am concerned about one thing.

My question is - is it acceptable to bring (show) bank statement stating my account ballance (in CAD) printed on letterhead paper, signed and sealed by the Bank, and show it to CIC officers at the airport? I am not planning to bring more than 10.000 CAD in cash with me, but the money will be available via my Visa Bank card.
One more thing, I contacted Canadian Visa Office, but their answer was just part of the text copied from their website. So not helpful at all.

Thanks in advance guys, you've allways been so helpful.. and good luck with your visas (for those who are still in the process)

Cheers!

You might want to consider opening a Canadian bank account before you land in Canada!Google "Scotia bank StartRight program". You'll get an idea. This way, you will deposit your funds in CAD and you will have a bank letter and a statement that mentions how much funds you have in CAD. Way better than risking getting a letter from Indian bank and worrying about the procedure.


This is only my opinion. Good luck!!!

 

[scuba_blue]

You might want to consider opening a Canadian bank account before you land in Canada!Google "Scotia bank StartRight program". You'll get an idea. This way, you will deposit your funds in CAD and you will have a bank letter and a statement that mentions how much funds you have in CAD. Way better than risking getting a letter from Indian bank and worrying about the procedure.


This is only my opinion. Good luck!!!

Thank you for your reply.

One thing I forgot to mention.. I am not able to open Canadian bank account before landing to Canada because none of those banks offer this option for my country (Bosnia and Herzegovina - Europe)

However, I have bank account in global banking group, and statement from this bank was ok when I included it with other documents in my application for FSWP. Visa office didn't require any additional information.

Will officers at the airport accept bank statement this time also when I arrive to Canada?

Thanks.

 

[rajkamalmohanram]

Thank you for your reply.

One thing I forgot to mention.. I am not able to open Canadian bank account before landing to Canada because none of those banks offer this option for my country (Bosnia and Herzegovina - Europe)

However, I have bank account in global banking group, and statement from this bank was ok when I included it with other documents in my application for FSWP. Visa office didn't require any additional information.

Will officers at the airport accept bank statement this time also when I arrive to Canada?

Thanks.

Yes this should work. Before you fly, get a fresh set of statements though.

 

[Komal.canada]

Hi All -

Funds Required for 4 Number of Family is : $22,170 ( As per CIC )

So, if I bring $25000 by cash / Traveler check at the time of entry in Canada, still do i need to bring Proof of funds in other means?

Your advise would be highly appreciated.

Thanks
Komali

 

[rajkamalmohanram]

Hi All -

Funds Required for 4 Number of Family is : $22,170 ( As per CIC )

So, if I bring $25000 by cash / Traveler check at the time of entry in Canada, still do i need to bring Proof of funds in other means?

Your advise would be highly appreciated.

Thanks
Komali

Well, technically this should be okay but no one travels around with traveler's checks and cash worth CAD 25k. It's not safe. So, bring your debit/credit cards, a few hundred dollars in cash, a few hundred dollars worth traveler's checks and the have the rest of the money in your account. Bring recent statements and bank letter showing the balance.

 

[kratos25]

how much should i declare if i am already in canada and already working ... i mean i am applying for PR from inside canada.... and there is this form that ask how much of unencumbered funds do i have??

 

[rajkamalmohanram]

how much should i declare if i am already in canada and already working ... i mean i am applying for PR from inside canada.... and there is this form that ask how much of unencumbered funds do i have??

If you are already working in Canada, then I think you are exempt from showing POF. However, it is safe to show proof for the minimum required funds (CAD 11,931 if you are a single applicant).

 

[aeropostale89]

hey guys , planning to land alone as a principal applicant pretty soon just wanhted to know that i am carrying 2000 dollars cash and a 10000 canadian dollars travelers cheques so do i still need to show any other proof like a balance certificate or a bank statement !

 

[rajkamalmohanram]

hey guys , planning to land alone as a principal applicant pretty soon just wanhted to know that i am carrying 2000 dollars cash and a 10000 canadian dollars travelers cheques so do i still need to show any other proof like a balance certificate or a bank statement !

Read the following post

http://www.canadavisa.com/canada-immigration-discussion-board/proof-of-funds-requirements-explained-t45043.0.html;msg4758543#msg4758543

 

[stelimeli]

Thank you Nicolas4876! +1 for you