Proof of funds requirements - Explained

[vmraja]

provide bank statement (preferably 6 months) along with the bank certificate.

 

[shani555]

provide bank statement (preferably 6 months) along with the bank certificate.

thanks dear. i did not maintain my bank statement up to the required amount. i keep investing the amount in short term investments and circulating this amount. i did not borrow from any one and this is totally my money. please advise in this regard.

 

[Zawar]

Hi every one
I have question regarding proof of funds
I am going to land next month, I need to know that do we can show proof of funds some in cash and rest in our recent bank statement ??
Appreciate for your reply
Thanks

 

[itsmejohnhcl]

Guys,

Is PPF (Public Provident Fund) be showed as proof of fund ?
PPF is a scheme in India where in you can deposit some savings every year/month, but the money is locked till 15 years.

 

[Panky26]

Hello guys..
New to this forum.
I have fixed diposits, around some of it in my own name solely and remaining in joint account with my father where I am second nominee.
I am single unmarried with no common law partner
So in my case Can this Fixed diposts where I am second nomination to my father be considered as proof of funds?? The fixed diposts have been made much before 6 months and well above the requirements of $12000.
Pl revert back.

Please solve my query...

 

[vmraja]

thanks dear. i did not maintain my bank statement up to the required amount. i keep investing the amount in short term investments and circulating this amount. i did not borrow from any one and this is totally my money. please advise in this regard.

you need to show you have sufficient funds as on today.
circulating will not be a problem as long as the money is yours.
you can submit the statement which shows inflow and outflow of funds.
hope for the best

 

[vmraja]

Guys,

Is PPF (Public Provident Fund) be showed as proof of fund ?
PPF is a scheme in India where in you can deposit some savings every year/month, but the money is locked till 15 years.

no bro. they will not consider PPF balance as POF

 

[shani555]

when i applied for FSW in 2014 i sold my car to show the settlement fund. i did not keep that money in bank. now VO asked me to give POF again with evidence. can i show the sale and transfer deed to show my POF as evidence ?

 

[Prats6]

I have a question about the 6 months of records.

What I did was create a joint account and had funds parked there since Feb 2016. However there has been an interest rate fluctuation (quite significant - approx 10%) and I transmitted the additional amount in April 2nd week (last week). When am I actually eligible to show these POFs. If 6 months is the criteria than do I need to wait 6 months more?

I dont want to accept an ITA and be rejected later because of POFs.

Thanks for your replies.

 

[rajkamalmohanram]

when i applied for FSW in 2014 i sold my car to show the settlement fund. i did not keep that money in bank. now VO asked me to give POF again with evidence. can i show the sale and transfer deed to show my POF as evidence ?

What will the VO do with just the sale receipt of your car? You need to show funds in your account along with the proof of how it came there.

 

[rajkamalmohanram]

I have a question about the 6 months of records.

What I did was create a joint account and had funds parked there since Feb 2016. However there has been an interest rate fluctuation (quite significant - approx 10%) and I transmitted the additional amount in April 2nd week (last week). When am I actually eligible to show these POFs. If 6 months is the criteria than do I need to wait 6 months more?

I dont want to accept an ITA and be rejected later because of POFs.

Thanks for your replies.

Not at all - you don't to wait if the funds are yours and not borrowed. See the reason behind the 6 months statements policy is to deter applicants from showing borrowed funds. If the funds are yours and you can show them the source of funds, you can even show funds that are one day old. Go ahead and accept the ITA and submit your application! Good luck and all the very best!

 

[SergeSD]

Guys,

Is PPF (Public Provident Fund) be showed as proof of fund ?
PPF is a scheme in India where in you can deposit some savings every year/month, but the money is locked till 15 years.

Hey vmraja,

There's an email from the Delhi Visa Office posted on the forum by someone who asked them directly that confirms that the PPF are in fact accepted as POF. Try searching in the forum, I'm new to this

I assume a PPF is similar to pension funds, which they also accept.

Good luck!

Serge

 

[DrMuhannad]

Hello,

I'm really confused about the idea that there is no limit to the money you can bring later with you from your home country.....

What's the proof they will not charge taxes on them ... How can they tell if they were savings or some kind of commercial gains?

 

[SergeSD]

Hello,

I'm really confused about the idea that there is no limit to the money you can bring later with you from your home country.....

What's the proof they will not charge taxes on them ... How can they tell if they were savings or some kind of commercial gains?

Hi DrMuhannad,

I am no expert, but:

1. IRCC (immigration officials) is (are) not responsible for tax filings.
2. You said it yourself: They cannot know where the money comes from, unless you tell them and unless they believe you.
3. If they would tax your cash, they would tax it as patrimony, because that is what it becomes once it is in your hands. However, I would find it very odd if they'd make you file your tax declaration as a welcome present.

Be aware of the rule: You could take as much money as you want into the country, but you must declare if you're bringing more than CAD 10,000.

Hope it helps!

 

[vmraja]

Hey vmraja,

There's an email from the Delhi Visa Office posted on the forum by someone who asked them directly that confirms that the PPF are in fact accepted as POF. Try searching in the forum, I'm new to this

I assume a PPF is similar to pension funds, which they also accept.

Good luck!

Serge

Hey Serge

PPF is not accepted as POF.
POF can be something which you can immediately spend.
That's the reason fixed assets are also not considered as POF.

Best Wishes,
vmraja