Proof of Funds

[saad.ahmed1816]

Hi All,
I need to know what can count in proof of funds. Can an email from company which tells me that this is the accumulated amount i have passed for as proof of funds.
Secondly for gift deed is it necessary that it should be from parents of me or my spouse. Cant an uncle give me that money and we can add a gift deed to it.

 

[mr.preetsingh]

Hi All,
I need to know what can count in proof of funds. Can an email from company which tells me that this is the accumulated amount i have passed for as proof of funds.
Secondly for gift deed is it necessary that it should be from parents of me or my spouse. Cant an uncle give me that money and we can add a gift deed to it.

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.
• Other documents may also be requested, as necessary.

Gift deed only from parents.

 

[saad.ahmed1816]

Thanks..just one thing though.. for gift deed is some time period required to aquire money or i can get it 1 week before submission of my application. Actually my funds for 3 members are not according to what's mentioned on the site. It's a bit less.

 

[mr.preetsingh]

Thanks..just one thing though.. for gift deed is some time period required to aquire money or i can get it 1 week before submission of my application. Actually my funds for 3 members are not according to what's mentioned on the site. It's a bit less.

Start collecting today. if you get direct invitation, then only one month of bank statement is enough. So, get funds in your account prior to one month before ITA (as per your speculations).

 

[kanu]

SO guys should I liquidate my Mutual Funds and LIC policy to add into my PoF?? They make a good part of my PoF. Please suggest.
as per getgcms.com blog it is accepted without liquidating.
https://www.getgcms.com/blog/proof-funds-requirement-express-entry/

 

[mr.preetsingh]

SO guys should I liquidate my Mutual Funds and LIC policy to add into my PoF?? They make a good part of my PoF. Please suggest.
as per getgcms.com blog it is accepted without liquidating.
https://www.getgcms.com/blog/proof-funds-requirement-express-entry/

My experience, the money should be either in form of FD, Savings and Provident Fund (partial can be shown is POF). Rest I will leave it for others to comment.

 

[ragulmohan]

Hi guys,

I got recently married in Jan'18. We got the invitation last week but we have not sorted out funds.

I have been holding sufficient balance for one person required for express entry partially in my sole account and in a joint account with my mom.

My wife - she has partial amount in deposit, shares and car which is getting sold in a week.

Please someone advise what are the documents to show for proof of funds! Do i have to get a gift deed from my mom? what document do we show for selling shares and cash we would receive from car sales??

 

[mr.preetsingh]

Hi guys,

I got recently married in Jan'18. We got the invitation last week but we have not sorted out funds.

I have been holding sufficient balance for one person required for express entry partially in my sole account and in a joint account with my mom.

My wife - she has partial amount in deposit, shares and car which is getting sold in a week.

Please someone advise what are the documents to show for proof of funds! Do i have to get a gift deed from my mom? what document do we show for selling shares and cash we would receive from car sales??

If you are the primary applicant, get money from your Mom and make a gift deed. If you are selling a Car, then car sale receipt should be there.

By the way, If you got the invitation last week, then get all the money in your account in couple of days and wait for one month, till then complete PCC and Medicals. After one month, take one month bank statement (from when the full money is available in your account) and file your PR application.

In this case, you will not need to show your money source.

 

[ragulmohan]

If you are the primary applicant, get money from your Mom and make a gift deed. If you are selling a Car, then car sale receipt should be there.

By the way, If you got the invitation last week, then get all the money in your account in couple of days and wait for one month, till then complete PCC and Medicals. After one month, take one month bank statement (from when the full money is available in your account) and file your PR application.

In this case, you will not need to show your money source.

thanks @Mr. preetsingh! My wife is the primary applicant... yes we received invitation last week. Sorry I have few more clarifications -

Could we show the demat holding statement which will show share sales, that will prove amount coming into her account?

Can i transfer some money from mom to my wife's account and attach a gift deed to prove it?

My friend owe's me some money, if he deposits into my account now, How do i show the proof?

Regards
Ragul

 

[mr.preetsingh]

thanks @Mr. preetsingh! My wife is the primary applicant... yes we received invitation last week. Sorry I have few more clarifications -

Could we show the demat holding statement which will show share sales, that will prove amount coming into her account?

Can i transfer some money from mom to my wife's account and attach a gift deed to prove it?

My friend owe's me some money, if he deposits into my account now, How do i show the proof?

Regards
Ragul

I am afraid this is not advisable. Even though, if you would like to show that, only partial amount can be considered as POF due to changes in market share prices.

The cash should be readily available (as per CIC).

I have seen a client's file got rejected because he uploaded online bank statement without stamping and sign from the bank. This is the level of scrutiny sometimes the VISA officers go through. So, be careful.

 

[abdullahbajwa]

Hello,

In type of account , all funds can be in current or basic salary account or it must be saving account?

Thanks

 

[mr.preetsingh]

Hello,

In type of account , all funds can be in current or basic salary account or it must be saving account?

Thanks

Savings and Fixed Deposits are ideal.

 

[gitmlife]

Savings and Fixed Deposits are ideal.

Hi Preet Singh,
I work and live in Dubai, however, I intend to show proof of funds in my Indian bank account in INR as my dad is going to give me the money as a gift. Is it okay to show funds in India in INR while living in Dubai. Is it acceptable to show funds in a country other than the country of residence?

Thanks in advance.

 

[mr.preetsingh]

Hi Preet Singh,
I work and live in Dubai, however, I intend to show proof of funds in my Indian bank account in INR as my dad is going to give me the money as a gift. Is it okay to show funds in India in INR while living in Dubai. Is it acceptable to show funds in a country other than the country of residence?

Thanks in advance.

yes, You can provide POF from any country.

 

[gitmlife]

yes, You can provide POF from any country.

Thanks brother.