proof of funds !!

[Hasni]

I am a family of 5, myself, my wife and 3 kids (below 12 yrs). What is the minimum amount that i should have in my account to show as proof of funds. Do i need to show a bank statement of past three months or six months !! How about if my past three or six months stament does not reflect substantial funds / transactions and i just borrow the required amount from someone and prepare a stament to show as proof of funds, WILL IT WORK !!

 

[mayankpandya]

Please visit :

http://www.canadavisa.com/canada-immigration-discussion-board/proof-of-funds-what-all-can-be-used-t47531.0.html

AND

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

The amount of money you need to support your family is determined by the size of your family. These amounts are updated every year.

Number of
Family Members Funds Required
(in Canadian dollars)
1 $11,115
2 $13,837
3 $17,011
4 $20,654
5 $23,425
6 $26,419
7 or more $29,414
You do not have to show that you have these funds if you have arranged employment in Canada.

How much money should you bring?

Find out how much it costs to live where you are planning to settle in Canada.

Bring as much money as possible to make moving and finding a home in Canada easier.

Disclosure of funds

If you are carrying more than C$10,000, tell a Canadian official when you arrive in Canada. If you do not tell an official, you may be fined or put in prison. These funds could be in the form of:

cash
securities in bearer form (for example, stocks, bonds, debentures, treasury bills) or
negotiable instruments in bearer form (for example, bankers’ drafts, cheques, travellers’ cheques or money orders).

Check the guideline of your VO. Do they said to include Bank Statement ? OR you can get letter from your BANK for your Balance. It also depend on the sum of money you borrow . If its big figure then this will create problem for you later.

Regards,
Mayank

 

[Hasni]

@mayankpandya
Thanks for the reply.
CIO checklist does not ask for any proof of funds however VO check lists does ask for one. Would you please explain in simple terms that what exactly they mean by the following !
•current bank certification letter; or
•evidence of savings balance; or
•fixed or time deposit statements.
Thanks

 

[Dr.Hasib]

@ mayankpandya
Thanks for the reply.
CIO checklist does not ask for any proof of funds however VO check lists does ask for one. Would you please explain in simple terms that what exactly they mean by the following !
•current bank certification letter; or
•evidence of savings balance; or
•fixed or time deposit statements.
Thanks

current bank certification letter-- it is a certificate provided by your bank which will state your name, address, saving account number, total amount of money both in local and canadian currency.(this letter is mandatory)
As evidence of saving balance you can submit bank statement.

 

[Hasni]

dear dr. hasib,

thanks for the clarification, but as per my understanding they have asked to provide either of the three.so submitting only the bank certification letter should do.do correct me if i am wrong.

 

[Dr.Hasib]

dear dr. hasib,

thanks for the clarification, but as per my understanding they have asked to provide either of the three.so submitting only the bank certification letter should do.do correct me if i am wrong.

right you are.
but VO may ask for bank statement at later stage any time, so if u send bank statement initially to CIO, then VO will not ask for it.

 

[mayankpandya]

I second you

Regards,
Mayank

right you are.
but VO may ask for bank statement at later stage any time, so if u send bank statement initially to CIO, then VO will not ask for it.

 

[Hasni]

Thanks dr.hasib and mayankpandya, i am absolutely clear now but since i am short of money at the moment and dont want to delay my application, so the best thing would be to inject some money now in my account from somewhere (borrow from some friend or relative) and get the bank certification letter initially. Getting the statement at this stage will not be a good idea because it will simply reveal that the fund i am declaring have just been injected one time and may make my financial position bit doubtful in visa officer's eyses.Hope you getting my point. But by the time my application reaches VO and if at all they ask for bank statement (which i doubt as it is nowhere mentioned in the check list), i would be in a position to provide as i would be having around 3 to 4 months (it may take even longer to reach to VO from CIO) to make it look more genuine through frequent periodic transactions.Am i thinking on the right track !!

 

[Thommo]

Thanks dr.hasib and mayankpandya, i am absolutely clear now but since i am short of money at the moment and dont want to delay my application, so the best thing would be to inject some money now in my account from somewhere (borrow from some friend or relative) and get the bank certification letter initially. Getting the statement at this stage will not be a good idea because it will simply reveal that the fund i am declaring have just been injected one time and may make my financial position bit doubtful in visa officer's eyses.Hope you getting my point. But by the time my application reaches VO and if at all they ask for bank statement (which i doubt as it is nowhere mentioned in the check list), i would be in a position to provide as i would be having around 3 to 4 months (it may take even longer to reach to VO from CIO) to make it look more genuine through frequent periodic transactions.Am i thinking on the right track !!

Make sure whatever funds you show in your application remain available till you get PR visa. VO can ask for POF at any stage to make sure that the funds are genuinely yours and not the borrowed ones.

 

[yukon]

Make sure whatever funds you show in your application remain available till you get PR visa. VO can ask for POF at any stage to make sure that the funds are genuinely yours and not the borrowed ones.

POF are also required at point of entry. The Imm. Officer might ask for the same again.... So you should keep them handy & in person when you land in Canada.

 

[mayankpandya]

Yukon...

I am not sure on this. Can you please provide me any official link to confirm it.

Regards,
Mayank

POF are also required at point of entry. The Imm. Officer might ask for the same again.... So you should keep them handy & in person when you land in Canada.

 

[yukon]

Yukon...

I am not sure on this. Can you please provide me any official link to confirm it.

Regards,
Mayank

Their are no official links to this, but I have read this on the forum itself through members sharing their landing experiences....
Ask anybody (incl. Qorax) & they will tell you to keep all originals handy (incl. your educational & experience certificates when you land).
The Imm. officer (on the first landing only) is entitled to ask for anything that needs to be proved in support of your FSW PR.

 

[mayankpandya]

Thanks...i will confirm it...

Regards,,,,,,,,,,,,
Mayank

Their are no official links to this, but I have read this on the forum itself through members sharing their landing experiences....
Ask anybody (incl. Qorax) & they will tell you to keep all originals handy (incl. your educational & experience certificates when you land).
The Imm. officer (on the first landing only) is entitled to ask for anything that needs to be proved in support of your FSW PR.

 

[rudolf]

They're also taking into consideration the history of the account...should be an old account,better if it's a 2 years old or more