Proof of Funds

[pharon00]

I think i have a good case for skilled worker entry, with the exception of funds (at present).
When it comes to showing the funds I have, what is to stop me from borrowing the shortfall from my parents in order to show the necessary funds in my account? The idea would be to then use the time taken during processing to save the outstanding balance.

How thorough are they in looking at funds, do they accept a statement of accounts for that specific date of application, or do they want to look back over a period of times

Your responses would be greatly appreciated. Thanks

 

[thaiguy]

It is illegal to borrow the money you show as proof of funds. If you do borrow it, you'll be making false representation of your eligibility to immigrate.

If by "statement of accounts," you mean a balance sheet, "no," they won't accept that. They'll need documents from your financial institution(s). Generally, they ask for this documentation at the beginning of your application and then later, closer to the time of finalization. But they could ask you for proof at any time if they have doubts.

Good luck with whatever you do.

 

[pharon00]

Thanks for your reply

What if the money was a gift, not to be re-paid? Would that be accepted as personal funds?

By "statement" of accounts i meant a letter / statement from the bank giving details of money in a savings account at that time (giving just the bank details and the monies in the account). Or would they want to see actual bank statements (the type banks send out monthly to their clients) which has historical amounts and transactions and such like.

Thanks again

 

[Eduardo Picazo]

Thanks for your reply

What if the money was a gift, not to be re-paid? Would that be accepted as personal funds?

By "statement" of accounts i meant a letter / statement from the bank giving details of money in a savings account at that time (giving just the bank details and the monies in the account). Or would they want to see actual bank statements (the type banks send out monthly to their clients) which has historical amounts and transactions and such like.

Thanks again

Hi pharon00

as long as the money are in your own account at the bank you are OK, and yes, they want to see your bank statements. and also they will ask for an uptdates from time to time so be prepared.

Regards
Eduardo

 

[polongi]

you can go ahead of your application then decide later on the funds. It takes on the avertage right now that the processing timelines is averaging 48 months. for that time probabbly you have your proof of funds.
thaiguy is correct also but if you have sombebody who have money that are willing to borrow you and put it on your account it is ok also for the purpose of immigration. If theres come the visa ofcourse you need to provide on how to settle successfully in CANADA.
Cheers,
Ben

 

[universe78]

Hello Dear Friends

I have query related to funds. Please tell me that I have fixed deposit with the joint names 1st name is my mother and second is mine. Can I use this fd for my funds in my file?

 

[Seany009]

funds have to be in the name of the primary applicant or spouse(if included in the application). It can't be joint with mom or dad etc.

cheers

 

[BittuPittu]

Hi Dear Well Wishers,

I applied under the below noc Code and my application reached CANADA on 31st of December 2014
NOC Code: DATABASE ANALYST AND DATA ADMINISTRATOR - 2172.

Would like to know how many days do we need to maintain our account balance(Funds) and can we turn our savings account into fixed deposit.
mean while

Thanks
Bittu