Proof of funds

[abhiabhi]

Do I need to show the proof of funds in the beginning when I submit my application for FSW? I thought it would be needed later on during the processing period same as PCC and Medicals. Please help confirm. I am in the process of preparing my documents for application.

 

[scylla]

You need to show POF at the beginning and include POF with your original application. This is mandatory.

 

[msaeed]

Do I need to show the proof of funds in the beginning when I submit my application for FSW? I thought it would be needed later on during the processing period same as PCC and Medicals. Please help confirm. I am in the process of preparing my documents for application.

Sir

Check Documents Check list
Read all forms and instructions very carefully before jumping in

Stay Blessed

 

[JAAP]

How many ways are there to show proof of fund? can property (owned flat) be shown as POF and if not can loan (personal) taken on property be shown as POF? Also for how many months before we have to arrange for fund or show in the bank statement at the time of filing the application?

 

[msaeed]

How many ways are there to show proof of fund? can property (owned flat) be shown as POF and if not can loan (personal) taken on property be shown as POF? Also for how many months before we have to arrange for fund or show in the bank statement at the time of filing the application?

Sir

1. Cash with bank
2. Fixed Deposit Certificates , with confirming letter from bank that these are in your name ( or in the name of your Wife , children , who are included in your application)
3. No prior arrangement is required , you can get Balance Confirmation Certificate from your banker , rather than getting Statement of Account


Stay Blessed

 

[chonaemotera]

How many ways are there to show proof of fund? can property (owned flat) be shown as POF and if not can loan (personal) taken on property be shown as POF? Also for how many months before we have to arrange for fund or show in the bank statement at the time of filing the application?

property can't be used as POF, and neither is a loan, it's stated in the checklist

 

[JAAP]

Thanks

but from how much time before we have to show POF in the bank statement. is it okay if I arrange the fund (FD or borrow from someone) just five or 10 days ago before filing an application?

 

[JAAP]

my appologies did not read the thread above for answer before putting up the above question. thanks

 

[akbardxb]

property can't be used as POF, and neither is a loan, it's stated in the checklist

At the time of application, property / shares / stocks / bonds, cAsh in bank in the PA or spouse's name should be shown as assets and all liabilities also accounted for. However, at the time of landing, only LIQUID assets ie Cash or DD are required.

 

[future_canadian]

Thanks

but from how much time before we have to show POF in the bank statement. is it okay if I arrange the fund (FD or borrow from someone) just five or 10 days ago before filing an application?

Only liquid and unencumbered assets can be used as POF. They CANNOT be borrowed.

 

[abhiabhi]

Sir

1. Cash with bank
2. Fixed Deposit Certificates , with confirming letter from bank that these are in your name ( or in the name of your Wife , children , who are included in your application)
3. No prior arrangement is required , you can get Balance Confirmation Certificate from your banker , rather than getting Statement of Account


Stay Blessed

Thanks guys for the help. Okay, so it says on the following link that for 3 members it is around 18K CAD. I would count myself , my wife and a daughter as 3 members.

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

Does it make any difference if the fund is much more than 18K CAD? or it is only 18K CAD? I believe this amount is not needed to be frozen, right?

Thanks in advance.

 

[akbardxb]

Thanks guys for the help. Okay, so it says on the following link that for 3 members it is around 18K CAD. I would count myself , my wife and a daughter as 3 members.

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

Does it make any difference if the fund is much more than 18K CAD? or it is only 18K CAD? I believe this amount is not needed to be frozen, right?

Thanks in advance.

This is the minimum required. You are allowed to take as much as you can.

 

[amir82]

what does this phrase really means " You will need to show proof to the Canadian visa office in your home country that you have enough money when you apply to immigrate ". this is written in proof of funds on CIC website ? a new applicant is of concern and has asked me to reconfirm the statement as i asked him to deposit the required amount in ur account and that is enough but as per him there is some change in the new process and now local VO verifies the accounts with the bank. is it true ?

 

[Shanshui]

This is the minimum required. You are allowed to take as much as you can.

I have similar question- should I freeze that amount? I mean the money could not be used untill the PR decision is made. Or just a bank balance of one point of time is enough?

 

[akbardxb]

I have similar question- should I freeze that amount? I mean the money could not be used untill the PR decision is made. Or just a bank balance of one point of time is enough?

My understanding is that PO f can be asked for again at any point till COPR. Since you don't know how long the approval process will take, I feel you should be in a position to show at least his amount as your net worth in terms of assets and then finally have the prescribed amount by family size to take with you as liquid funds at the time of landing.