Proof of funds urgent guidance needed

[Asivad Anac]

Asivac, could you please help me to understand the proof of funds requirement for CEC

1. Majority of member here says for CEC, the POF is not mandatory, you can put zero or whatever in your EE profile as long as you can prove it
2. All of member here says POF is mandatory for FSW. Minimum amount as per LICO applies
3. Unknown percentage of member here says, either for FSW or CEC, POF applies. Conclusion is complicated with LMIA arranged employment. Some people sez POF doesn`t apply only for those with LMIA but the fact is even those with LMIA are still required to provide POF
4. All this fuss about POF drives me crazy.

Could you please clarify this. God bless your heart

1. POF is not required for someone with an LMIA supported job offer OR someone invited under CEC. Period.

2. POF is needed for all other streams. The monies cannot be borrowed from anyone, must belong to the PA.

3. If you are meeting both CEC and FSW criteria, try and set your 'Available funds' to zero and check if that leaves you only with CEC eligibility. In such a case, you are exempted from POF requirements.

Unless you are currently authorized to work in Canada and have a valid job offer from an employer in Canada, or you qualify under the Canadian Experience Class, you must show that you have enough money to support yourself and your family after you get to Canada.

You cannot borrow this money from another person. You must be able to use this money to pay the costs of living for your family (even if they are not coming with you).

Source ---> http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

 

[rezasorna]

1. POF is not required for someone with an LMIA supported job offer OR someone invited under CEC. Period.

2. POF is needed for all other streams. The monies cannot be borrowed from anyone, must belong to the PA.

3. If you are meeting both CEC and FSW criteria, try and set your 'Available funds' to zero and check if that leaves you only with CEC eligibility. In such a case, you are exempted from POF requirements.

Unless you are currently authorized to work in Canada and have a valid job offer from an employer in Canada, or you qualify under the Canadian Experience Class, you must show that you have enough money to support yourself and your family after you get to Canada.

You cannot borrow this money from another person. You must be able to use this money to pay the costs of living for your family (even if they are not coming with you).

Source ---> http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

Just some observation, please correct me if I am wrong Asivad.
1. If one set available fund as zero still system makes your eligible for both CEC and FSW. The only way that you can get rid of FSW is beside zero fund, you choose you have no job offer.

2. If you choose you have a job offer (even no LMIA) with whatever fund you enter in your EE profile, still system makes you eligible as FSW.

I feel although as you mentioned in this link (http://www.cic.gc.ca/english/immigrate/skilled/funds.asp) it talks about LMIA supported job offer, the computer program, treats anyone with a job offer (even under FSW) to only show whatever he/she mentioned.

I think in this case there is a contradiction between the information in the CIC website, and the way the computer program in the EE profiles work.

You know better than anybody else here. Please let us know what you think?

Thanks

 

[Asivad Anac]

Just some observation, please correct me if I am wrong Asivad.
1. If one set available fund as zero still system makes your eligible for both CEC and FSW. The only way that you can get rid of FSW is beside zero fund, you choose you have no job offer.

Setting funds to zero is not the only way of making one's profile ineligible for FSW. Some members have reported doing it that way and it is worth a shot. Another possibility is just retaining Canadian educational credential in your profile and taking out any foreign education credential (provided it doesn't affect CRS score and/or program eligibility) - that would ensure one is ineligible for FSW and eligible only for CEC.

2. If you choose you have a job offer (even no LMIA) with whatever fund you enter in your EE profile, still system makes you eligible as FSW.

If you're eligible under CEC, there are very good chances that you will be eligible under FSW as well. It is up to the applicant to figure out how to retain eligibility under one program while being ineligible for the other - depends on personal situation - cannot be easily generalized.

I feel although as you mentioned in this link (http://www.cic.gc.ca/english/immigrate/skilled/funds.asp) it talks about LMIA supported job offer, the computer program, treats anyone with a job offer (even under FSW) to only show whatever he/she mentioned.

Anyone with a valid Canadian job offer is exempted from showing POF. This is a recent development, came in over the weekend. If you do not have valid work status in Canada, you will have to show POF. Probably some elements of the EE program aren't fully aligned on this yet but the ruling is out on this one.

I think in this case there is a contradiction between the information in the CIC website, and the way the computer program in the EE profiles work.

You know better than anybody else here. Please let us know what you think?

Thanks

 

[rezasorna]

You are right. This paragraph just changed over the weekend. I just noticed it.

"Unless you are currently authorized to work in Canada and have a valid job offer from an employer in Canada, or you qualify under the Canadian Experience Class, you must show that you have enough money to support yourself and your family after you get to Canada."

I received ITA under FSW, I am working and have an LMIA exempt job offer. I cannot show that much money. Please advice Asivad. Should I turn down the ITA and try to change my profile to be eligible as CEC. It seems even if I send the application, I will be rejected.
What do you think?

 

[ksk_fsw]

Hi Asivad,
My Canada bank a/c is a joint one with my wife. I am the PA and she is also included in the application. I have enough fund as required by CIC in the account. So Qn is should I remove her from this account and make it my own a/c as CIC ask for the fund of PA only?

 

[Asivad Anac]

You are right. This paragraph just changed over the weekend. I just noticed it.

"Unless you are currently authorized to work in Canada and have a valid job offer from an employer in Canada, or you qualify under the Canadian Experience Class, you must show that you have enough money to support yourself and your family after you get to Canada."

I received ITA under FSW, I am working and have an LMIA exempt job offer. I cannot show that much money. Please advice Asivad. Should I turn down the ITA and try to change my profile to be eligible as CEC. It seems even if I send the application, I will be rejected.
What do you think?

Don't reject your ITA. Send in a bank certificate/letter showcasing whatever monies you have along with other supporting documents (pay stubs, job offer letter, work authorization status, T4 etc) along with an LOE informing the officer that you are perfectly capable of supporting yourself and family, if any, in Canada and politely requesting them to favorably consider your application.

That should suffice even though you've been invited under FSW. All the best!

 

[Asivad Anac]

Hi Asivad,
My Canada bank a/c is a joint one with my wife. I am the PA and she is also included in the application. I have enough fund as required by CIC in the account. So Qn is should I remove her from this account and make it my own a/c as CIC ask for the fund of PA only?

Joint account with PA's name on it is perfectly fine.

 

[rezasorna]

Don't reject your ITA. Send in a bank certificate/letter showcasing whatever monies you have along with other supporting documents (pay stubs, job offer letter, work authorization status, T4 etc) along with an LOE informing the officer that you are perfectly capable of supporting yourself and family, if any, in Canada and politely requesting them to favorably consider your application.

That should suffice even though you've been invited under FSW. All the best!

Thanks Asivad for your advice!
By the way I noticed this in the new fund page in CIC.
It says

"Unless you are currently authorized to work in Canada and have a valid job offer from an employer in Canada, or you qualify under the Canadian Experience Class, you must show that you have enough money to support yourself and your family after you get to Canada."

For people like many of us who qualify under both FSW and CEC. If you are invited under FSW it doesn't disqualify you as CEC. We are invited under FSW but also qualified under CEC. So maybe people who are invited under FSW program but qualify as CEC are also exempted.
Maybe I'm saying nonsense but it is not incorrect. They don't mention invited they say only qualify.
Sometimes I feel even supreme court judges cannot make sense of some CIC rules.
What do you think? Does it make any sense?

 

[nagrish]

my application is CEC with a job offer based on an LMIA. We were asked to upload 'proof of means of financial support' but not proof of funds. So basically it was T4, NOA, pay stub, financial statement of all accounts for previous 6 mths etc...

 

[Hansdza]

Asivac..

You are a real gem.. your analogy and understanding of express entry system is way beyond many people here.. It is crystal clear now for CEC class NO NEED for POF,, period..You can see the pattern and make conclusion correctly..

I wish there's something we can do to organize topic in this forum such as profil, section, proof of fund, education, ECA, etc.. but I dunno how to do it.

The reason I'm saying that is because so many member giving not only incorrect but also misleading information. Making people who read this forum confused as hell..

Asivac, keep up the good job mate, I think you have potential to become immigration consultant.. I trust you

 

[Asivad Anac]

Thanks Asivad for your advice!
By the way I noticed this in the new fund page in CIC.
It says

"Unless you are currently authorized to work in Canada and have a valid job offer from an employer in Canada, or you qualify under the Canadian Experience Class, you must show that you have enough money to support yourself and your family after you get to Canada."

For people like many of us who qualify under both FSW and CEC. If you are invited under FSW it doesn't disqualify you as CEC. We are invited under FSW but also qualified under CEC. So maybe people who are invited under FSW program but qualify as CEC are also exempted.
Maybe I'm saying nonsense but it is not incorrect. They don't mention invited they say only qualify.
Sometimes I feel even supreme court judges cannot make sense of some CIC rules.
What do you think? Does it make any sense?

What you're saying is logical. You need not be invited under CEC to be exempted from POF requirements.

If you are invited under FSW while still being qualified for CEC, it wouldn't hurt at all to provide the bank certificate/letter showcasing whatever monies you have along with other supporting documents (pay stubs, job offer letter, work authorization status, T4 etc) along with an LOE informing the officer that you are perfectly capable of supporting yourself and family, if any, in Canada and politely requesting them to favorably consider your application.

 

[hotshot007]

Asivad quick question for you please.

My bank has refused to give me the letter as per CIC specifications. They have no idea about the 6 month average balance.

They will give me a balance certificate which will include my name, when account opened, current amount in local and Canadian currency, account number and bank contact details. I am planning to supplement this letter with 6 months bank statements.

Do you think this is sufficient or I should handle it differently and include something additional?

 

[Asivad Anac]

Asivad quick question for you please.

My bank has refused to give me the letter as per CIC specifications. They have no idea about the 6 month average balance.

They will give me a balance certificate which will include my name, when account opened, current amount in local and Canadian currency, account number and bank contact details. I am planning to supplement this letter with 6 months bank statements.

Do you think this is sufficient or I should handle it differently and include something additional?

Submit bank statements as additional evidence only if you have borrowed some monies within the last 6 months. If your account balance hasn't changed dramatically (more than 25-30% difference between minimum balance and maximum balance can be called a large change) then there is no reason to be worried about the missing average balance figure in your bank certificate.

And your bank is bluffing - of course they calculate average balances all the time. It might be a chore for them which they want to avoid or they calculate average balances on monthly/quarterly/periodic basis and honoring your request will mean additional ad-hoc work for them. Try explaining to them that all CIC needs is evidence that the particular bank account hasn't had unreasonably large credit transaction(s) in the last 6 months which might indicate borrowed funds. Hopefully they will be able to help.

 

[forcanada]

Hi
I have a question related with this topic: Can a joint bank a/c with the PA as second holder be considered for PoF? And what about joint fixed deposits?
P.S. Band a/c and Fixed Deposits are in India.

 

[Asivad Anac]

Hi
I have a question related with this topic: Can a joint bank a/c with the PA as second holder be considered for PoF? And what about joint fixed deposits?
P.S. Band a/c and Fixed Deposits are in India.

Yes. As long as the PA's name is present in the account/deposit, it can be used. In addition to that, get and upload a signed self-declaration, from the other person holding the account along with the PA, that they have no reservations in the PA using this as their POF.