Proof of funds - Spouse account

[_Aspirant]

This post makes me nail biting!!!

I have been planing to show FDs in my wife's name as POF after getting a declaration letter from her.

 

[Richinug123]

Question : Proof of funds - During mortgage loan

Hi Guys,

In my scenario im the PA accompanying and jointly applying with my spouse. I've got a mortgage loan of (Eg) CAD 10000 under my name (PA). However have the required (Eg) CAD 18000 in our accounts as joint accounts.

Question
1) Will the immigration officer only consider my CAD 18000 as cash available by us for migration?
2) or will they (-) CAD 10000 my mortgage loan and only consider that we have a net available of CAD 8000?

I've gone thru the official links and also read through all advise providedetails in this forum. Would appreciate some guidance on this scenario as well.

Thanks.

 

[Wolverine17]

This post makes me nail biting!!!

I have been planing to show FDs in my wife's name as POF after getting a declaration letter from her.

This is all new to me as far as i know there is no problem of showing proof of funds with your name and your spouse as long as she is accompanying you

 

[PiyushAgrawal06121985]

This is all new to me as far as i know there is no problem of showing proof of funds with your name and your spouse as long as she is accompanying you

Absolutely correct!

 

[aniket2789]

hi,
My wife is the PA and we Recieved E-APR on 15th December. We Are a family of 3 and require around $ 18000 according to CIC. In the application we have mentioned available funds as $20000. While showing proof of funds in BankAcount we have shown PA bank Account + Fixed Deposit $16000 And Spouse Account $20000 so A total of $36000.
MY question is can we withdraw some amount during the PR process( say around $4000) since we have shown more than the amount mentioned in the EE profile and Apploication? Or in other words do we have to maintain a balance of 36000$ or 20000$ in our case?

 

[PiyushAgrawal06121985]

hi,
My wife is the PA and we Recieved E-APR on 15th December. We Are a family of 3 and require around $ 18000 according to CIC. In the application we have mentioned available funds as $20000. While showing proof of funds in BankAcount we have shown PA bank Account + Fixed Deposit $16000 And Spouse Account $20000 so A total of $36000.
MY question is can we withdraw some amount during the PR process( say around $4000) since we have shown more than the amount mentioned in the EE profile and Apploication? Or in other words do we have to maintain a balance of 36000$ or 20000$ in our case?

You can withdraw any extra funds that you may have.

 

[aniket2789]

You can withdraw any extra funds that you may have.

Thanks...

 

[_Aspirant]

Absolutely correct!

Thanks!!!

Yes she is accompanying me.

 

[abc_27]

This post makes me nail biting!!!

I have been planing to show FDs in my wife's name as POF after getting a declaration letter from her.

I am the principal applicant. My funds were in my husband's name with a LOE that he is OK with me using those funds for EE.. OINP requested that I move the funds on my name. So I have opened an account and moved the funds on my name, with a LOE about why I did that. I received nomination a few days ago. This is my story. Maybe it helps. Good luck all!

 

[karan1985]

Hi All,

I have a complicated POF case and I need some advice.

My wife is the PA and I am an accompanying spouse.

Our POF is currently in the form of stocks in my name which we plan to liquidate to cash. I will transfer this cash to her account.
However, the bank that has 'held' the stocks cannot give an average 6 month value of the stocks (though I have had them for more than 6 months), at best they can give me the monthly holding statements for the last 6 months. These will be a holding statements which show the stocks I have held but not their value (i.e. this no. of these companies stocks). All my current stocks have been there for 6 months at least, so to that extent one can assume that the value would be similar, but there is no way for me to really 'prove' that I have had this 'value' for 6 months.
My questions are:
1. Will the fact that POF amount has been in the form of stocks for the last 6 months be an issue?
2. My wife and I do not have a joint account - so when I transfer to her account do I need to give a gift deed?
3. Do we need to show my wife's 6 month average balance in this case - because it will not be above the POF amount?
4. We have a substantial home loan, with another bank, should we get a letter from this bank as well?

Any advice will be appreciated. Thanks.

 

[karan1985]

Hi All,

I have a complicated POF case and I need some advice.

My wife is the PA and I am an accompanying spouse.

Our POF is currently in the form of stocks in my name which we plan to liquidate to cash. I will transfer this cash to her account.
However, the bank that has 'held' the stocks cannot give an average 6 month value of the stocks (though I have had them for more than 6 months), at best they can give me the monthly holding statements for the last 6 months. These will be a holding statements which show the stocks I have held but not their value (i.e. this no. of these companies stocks). All my current stocks have been there for 6 months at least, so to that extent one can assume that the value would be similar, but there is no way for me to really 'prove' that I have had this 'value' for 6 months.
My questions are:
1. Will the fact that POF amount has been in the form of stocks for the last 6 months be an issue?
2. My wife and I do not have a joint account - so when I transfer to her account do I need to give a gift deed?
3. Do we need to show my wife's 6 month average balance in this case - because it will not be above the POF amount?
4. We have a substantial home loan, with another bank, should we get a letter from this bank as well?

Any advice will be appreciated. Thanks.

Hi All, any thoughts on this? Anyone who has encashed stocks/ shares and shown it as POF?

 

[xpressentry]

Holding of stocks and shares for 6 months won't do as the value fluctuates.

 

[jackdawn]

Re: Question : Proof of funds - During mortgage loan

Hi Guys,

In my scenario im the PA accompanying and jointly applying with my spouse. I've got a mortgage loan of (Eg) CAD 10000 under my name (PA). However have the required (Eg) CAD 18000 in our accounts as joint accounts.

Question
1) Will the immigration officer only consider my CAD 18000 as cash available by us for migration?
2) or will they (-) CAD 10000 my mortgage loan and only consider that we have a net available of CAD 8000?

I've gone thru the official links and also read through all advise providedetails in this forum. Would appreciate some guidance on this scenario as well.

Thanks.

As far as i know and have seen posts in this forum, they only check the balance in your account/accounts. They dont minus your liabilities from that. As long as u r maintaining the balance it is fine

 

[amyqasim]

@ piyush agarwal

HI Piyush,

I need your help in understanding the POF requirment. I am the principal applicant and recently got ITA.
Currently the funds are exclusively on my spouse name who is also accompanying to canada, i would like to know whether i can show bank certificate of my spouse account as per CIC requirement along with self declaration that this amount can be used for POF. The account is in his name only n cannot b made joint. will tat lead to refusal ?

Bye

 

[amyqasim]

pls someone who has showed with spouse funds n not joint account , pls reply here