Proof Of Funds -- What all can be used ?

[rod.bautista]

Hello seniors,

I would like to inquire about POF to be submitted to CIC for the upcoming re-opening of FSWP. Will the following convince them?

• my savings account statement
• my wife's account statement
• our joint account (time deposit) statement
• my wife has an account but still under her maiden name, will this be considered?
• what about national bonds? will the bonds under our children's name be considered as well, since they're only aged 5 and 1?

thank you my dear seniors for the advise ;D

 

[rod.bautista]

Hello seniors,

I would like to inquire about POF to be submitted to CIC for the upcoming re-opening of FSWP. Will the following convince them?

• my savings account statement
• my wife's account statement
• our joint account (time deposit) statement
• my wife has an account but still under her maiden name, will this be considered?
• what about national bonds? will the bonds under our children's name be considered as well, since they're only aged 5 and 1?

thank you my dear seniors for the advise ;D

any help please? in addition to my question above, this "Proof of Funds" that is required when you first apply or in the process of your application by CIC, is different than the "Proof of Landing Funds"?

thanks again for the advise

 

[kulwantgill]

any help please? in addition to my question above, this "Proof of Funds" that is required when you first apply or in the process of your application by CIC, is different than the "Proof of Landing Funds"?

thanks again for the advise

1. yes .. perfectly valid
2. yes.
3. yes
4. it is not a big issue..u can change her name by giving proof of marriage..
5. dont knw

 

[rod.bautista]

1. yes .. perfectly valid
2. yes.
3. yes
4. it is not a big issue..u can change her name by giving proof of marriage..
5. dont knw

thank you very much for the reply ;D

 

[valericagirl]

Hello, I own a house , the property document can be used as a proof of funds?

 

[scylla]

Hello, I own a house , the property document can be used as a proof of funds?

No - they can't.

 

[Saps]

I have a question wrt Proof of funds. As we don't necessarily park money in Savings accounts and have invested in properties, we are now in a dilemma wrt to what to show as proof of funds... We (my husband and I) have substantial amount in our provident funds, for which we are able to download the PF statements. As per the Govt of India EPFO office this fund can be withdrawn on leaving job (which would be the case when u are immigrating) and same would be settled in approximately a month's time without tax deductions as the PF is accumulated on continuous work for more than 5 years.

In that case, doesnt this fall under the category of unencumbered proof of funds?

 

[mute_man]

I have a question wrt Proof of funds. As we don't necessarily park money in Savings accounts and have invested in properties, we are now in a dilemma wrt to what to show as proof of funds... We (my husband and I) have substantial amount in our provident funds, for which we are able to download the PF statements. As per the Govt of India EPFO office this fund can be withdrawn on leaving job (which would be the case when u are immigrating) and same would be settled in approximately a month's time without tax deductions as the PF is accumulated on continuous work for more than 5 years.

In that case, doesnt this fall under the category of unencumbered proof of funds?

provident fund can be used as initial Proof of Funds. proper documentation required.

 

[akbardxb]

No - they can't.

At the time of application, they can be shown as assets. I did. And also showed the mortgage against that as a liability. The then value of property exceeded the outstanding mortgage amount.

 

[hotmidhun]

Just wanted to bump up this topic so that it contains information that is new and relevant (knowing that this is a very key thing in the whole PR process).

Under the new Express Entry, would the following be allowed as Proof of Funds:

1. ULIP Fund Value
2. Mutual Fund Value
3. Provident Fund

Just wanted clarity on this, since it is clear that bank accounts either in your name or your spouse's name are anyhow accepted. My issue is that, I have always stayed invested, and if the above are accepted, I might not have an issue on POF. If not, it's a huge problem. The ideology so far in India, especially among the thoughtful youngsters were to invest, and not keep liquid cash in hand. I just wanted to know whether this ideology stays good with the Canadian PR process.

:-X

Thanks
Midhun

 

[akimnesh]

EE requirements (online help):

your bank statements for the past four months
a bank draft in convertible currency
pay stubs
an employment letter
proof of assets or business
proof of payment of tuition and accommodation fees
tax reports, declarations or statements
proof of a student/education loan from a financial institution
a letter from the person or institution providing you with money
proof of funding paid from within Canada, if you have a scholarship or are in a Canadian-funded educational program
proof of a Canadian bank account in your name if money has been transferred to Canada
If you are applying for permanent residence in Canada, you must provide an official letter issued by your financial institution indicating your financial profile.

Your financial profile includes a listing of all your bank (chequing and savings) and investment accounts. The official letter must be printed on the letterhead of the financial institution and must include your name, the contact information of the financial institution (address, telephone number and e-mail address), the account numbers, dates of when each account was opened and the balance of each account over the previous 6 months.

You must scan all proof of funds documents and save them as one file.

Mutual funds is investment account!

 

[rajkamalmohanram]

Guys? What about Provident fund? Does CIC accept provident fund as a valid Proof of fund? I'm from India btw.

 

[nanni_doc]

Hey guys,


I am planning to land in Vancouver in less than two weeks, out of the many things troubling me, the proof of funds is the biggest worry. I am planning to carry some of it as cash and some of it as a bank statement from an Indian Bank's branch(the same account was used to provide pof during application filing, that aaccount is jointly held by my parents, me and my wife). Can anybody guide me regarding this? Is an Indian bank's account statement a valid pof a the the time of landing?

I am also aware of Scotiabank, but I dont want to open an account there.

 

[rajkamalmohanram]

Hey guys,


I am planning to land in Vancouver in less than two weeks, out of the many things troubling me, the proof of funds is the biggest worry. I am planning to carry some of it as cash and some of it as a bank statement from an Indian Bank's branch(the same account was used to provide pof during application filing, that aaccount is jointly held by my parents, me and my wife). Can anybody guide me regarding this? Is an Indian bank's account statement a valid pof a the the time of landing?

I am also aware of Scotiabank, but I dont want to open an account there.

Some banks allow you to open a Canadian bank account while you are still in India. I found this for Icici bank.

http://www.icicibank.com/aboutus/article.page?identifier=news-icici-bank-launches-icici-bank-global-bankinghello-canada-20141607140056625

Check that link out. Check with your bank if they have such a scheme. After you move to Canada, you can withdraw funds and open an account in a bank of your choice.

Hope this helps.

 

[nanni_doc]

Some banks allow you to open a Canadian bank account while you are still in India. I found this for Icici bank.

http://www.icicibank.com/aboutus/article.page?identifier=news-icici-bank-launches-icici-bank-global-bankinghello-canada-20141607140056625

Check that link out. Check with your bank if they have such a scheme. After you move to Canada, you can withdraw funds and open an account in a bank of your choice.

Hope this helps.

Thanks for the reply, I will visit a local ICICI branch and ask them,

meanwhile all other suggestions are welcome as well