proof of funds

[romeo2529]

Hi

In the express entry application, I had declared funds as CAD 30k. However only ~ CAD 15.5k are mandatory. Is it possible to change the amount no win the PR application? Or do we need to the stick to the same amount declared in the pre ITA application?

Thanks in advance!
MP

Any change from express entry application to what you are submitting has to be mentioned in LoE. If you can show 30k CAD good enough but if not then jsut mention something like you had invested that money somewhere. It shouldnt be a problem as you are meeting their min entry criteria.

 

[Raansa]

Hi,
I had applied for express entry to Canada and recently I received an ITA for the same.
I have a few questions regarding the funds that I will have to show during the documentation process.
My spouse will be accompanying me to Canada. Before marriage the funds were in the name of my husband and my father-in-law, who is the prime holder of the account. But a few fixed deposits in the same account are only in the name of my husband.
So,
Firstly, can I include these FDs to show the funds as they are in the name of my husband; if not then

Secondly will a gift deed of $12,071 from my father-in-law work for the purpose. And also, does the big amount ($12,071) hamper our process.

It's Urgent as i have to submit all my docs till 4th of April. Thanks in advance.

 

[romeo2529]

Hi,
I had applied for express entry to Canada and recently I received an ITA for the same.
I have a few questions regarding the funds that I will have to show during the documentation process.
My spouse will be accompanying me to Canada. Before marriage the funds were in the name of my husband and my father-in-law, who is the prime holder of the account. But a few fixed deposits in the same account are only in the name of my husband.
So,
Firstly, can I include these FDs to show the funds as they are in the name of my husband; if not then Yes. As long as these are available only in your husband's name and he is accompanying you

Secondly will a gift deed of $12,071 from my father-in-law work for the purpose. And also, does the big amount ($12,071) hamper our process. Yes a gift deed works for this purpose. Amount doesnt matter

It's Urgent as i have to submit all my docs till 4th of April. Thanks in advance.

 

[Raansa]

Thank you very much...

 

[Omidahomie]

Hi, does the financial relationship letter or the POF as we call it here have to be stamped or signed ? Mines already on the letterhead with required information. I've attached my statements just in case which are stamped by the branch . Urgent pls, need to submit asap.

 

[romeo2529]

Hi, does the financial relationship letter or the POF as we call it here have to be stamped or signed ? Mines already on the letterhead with required information. I've attached my statements just in case which are stamped by the branch . Urgent pls, need to submit asap.

Bank letter as i know it has to be on the letterhead but signature is not mandatory according to CIC. Generally people get it signed by a bank employee to prove the authenticity of the document. Not compulsory but recommended

Document requirements

The applicant should provide an official letter(s) from one or more financial institutions that lists all current bank and investment accounts as well as outstanding debts, such as credit card debts and loans.
o The letter(s) must be printed on the letterhead of the financial institution and must include the applicant’s name, the contact information of the financial institution (address, telephone number and email address), the account numbers, the date each account was opened and the current balance of each account as well as the average balance for the past six months.

 

[CCN2017]

Hi Guys,

I am a single primary applicant and have received my ITA. As per guidelines, a single applicant may need to show a proof of CAD 12,300.
Is it ok to show the proof up to to this amount or should I show an additional amount as well?

Thanks in advance.

 

[kryt0n]

Just make sure you're at least $1 over. The more the better

 

[CCN2017]

Just make sure you're at least $1 over. The more the better

then i guess, i am good enough

Thanks a ton for your quick response.

 

[goyal.maninder]

Any change from express entry application to what you are submitting has to be mentioned in LoE. If you can show 30k CAD good enough but if not then jsut mention something like you had invested that money somewhere. It shouldnt be a problem as you are meeting their min entry criteria.

Thanks a lot for your reply. I have 30k CAD funds but I have a home loan as well. If I subtract my loan from funds, net would be bit lesser than 30k CAD. Should I declare funds based up cash balance or net of home loan?

Thank you
MP

 

[rupinder2k17]

If any loans are taken against your name, would that amount be deducted from the savings you are showing?

 

[darpan.aneja]

Hi seniors

Need your expert advice on a POF issue. I am the principal applicant and got ITA in 8th Feb draw. I was able to reach the LICO in my saving account closing balance on 20th Jan 17. So if I get the balance certificate with average balance of last 6 months it will be say only 70℅ of LICO. Will this be an issue for CIC?

 

[darpan.aneja]

Anyone please help on this.

Hi seniors

Need your expert advice on a POF issue. I am the principal applicant and got ITA in 8th Feb draw. I was able to reach the LICO in my saving account closing balance on 20th Jan 17. So if I get the balance certificate with average balance of last 6 months it will be say only 70℅ of LICO. Will this be an issue for CIC?

 

[Realme]

Hi seniors,

I have a fixed deposit of 12000CAD that is a month and a savings account of 12000CAD that is up to six months in the account.The total money enough for a family of four. My question is;

will the fixed deposit be acceptable?

This is urgent please

 

[Scorp216]

I am about to apply for EE and will appreciate an expert opinion on proof of fund. I realise the naira equivalent of funds required for my family size is around N6.5m. I have N3.2 in my savings account and N3.8 in my RSA(pension) account, which is above the required fund for my family size.
Can i use statement of both accounts as proof of fund for Express Entry?