Proof of funds

[veb4u19812]

Hi,

I am short of INR 4-5 lac out of almost INR 10.5 lac for showing proof of funds. Will it be OK if I arrange it from my relatives?

 

[rarepearl83]

As long as it is in ur account for a consistent time, it shud b fine.

Btw what stage is ur file in???

 

[veb4u19812]

Hi Rarepearl,

Thanks for the guidance. I am awaiting my WES report which should come soon and by the time I am gathering all other docs.

Most probably I will be filling by Mid of July'14.

Can you pls tell me that only bank certification letters will do to show proof of funds. (I have A/c in ICICIC and HDFC bank).

I will be showing some fixed deposits as well.

 

[rarepearl83]

ya account statements should do fine. Even i had shown some amount in savings account and some on fixed deposits and it was accepted fine.

 

[veb4u19812]

Thanks buddy.
Initially I will pay processing fee for myself only and will call my wife and daughter to Canada later on. So how much money I should show as proof of fund?

 

[rarepearl83]

So that means ul b starting the whole process for ur spouse n kid once u get ur PR? Nyway for u alone as the applicant u wud need around 6.5 lakhs as POF. (around 12K $)

 

[veb4u19812]

Thanks a lot Rarepearl.
But I heard whether your family accompanying u or not u have to show arond 18000 CAD as POF.
Is that true?

 

[scylla]

Thanks a lot Rarepearl.
But I heard whether your family accompanying u or not u have to show arond 18000 CAD as POF.
Is that true?

That's correct.

 

[veb4u19812]

Thanks Scylla....

 

[future_canadian]

Hi,

I am short of INR 4-5 lac out of almost INR 10.5 lac for showing proof of funds. Will it be OK if I arrange it from my relatives?

As long as the money is really yours. You cannot borrow settlement funds. CIC can ask for updated proof of funds at ant time during the process. You will be required to bring your settlement funds to Canada.

 

[future_canadian]

So that means ul b starting the whole process for ur spouse n kid once u get ur PR? Nyway for u alone as the applicant u wud need around 6.5 lakhs as POF. (around 12K $)

Not true. You have to show enough settlement funds for your whole family even if they aren't accompanying you.

 

[future_canadian]

Thanks buddy.
Initially I will pay processing fee for myself only and will call my wife and daughter to Canada later on. So how much money I should show as proof of fund?

Even if your family isn't accompanying you, you need to provide documents from them such as birth certificates, passports, background form, police certificates, etc. Just FYI.

 

[rarepearl83]

Not true. You have to show enough settlement funds for your whole family even if they aren't accompanying you.

But i guess u told u r applying only for urself....and not including ur family in the application at all. then y wud u need to show funds for ppl not on application???

 

[teddydeeps]

During the application it is not required to have funds for your spouse and child. as only you are applying now.

Just a word of caution.. at a later stage:
- it is not common for the vo to ask you for the orgin of the money- be prepared to defend it. like old it statements and returns.
-also the duration you hold the funds are important.