Proof of 'Landing Funds" >>>

[51747]

Investments, or savings, or funds lying in any a/c, or any product of a bank or any financial inst. is accepted while sending POF to our VOs. And they should in ur name or any of ur 'accompanying' family member's.

However, while landing, the funds should be either in the form of a Draft, TC, Cash or thru a Canadian Bank Statement. We have noticed that BSO's @ POE do accept the bank statements of many intl. & reputed banks as well (viz. HSBC, RBS, Citibank etc.).

Qorax

Thanks, mate! Much appreciated!

 

[TJ2010]

I mean can I hold 10000USD as cash and get a Nigerian statement of account on 10000USD that is in my account. Instead of carrying the whole 20000 as cash. Since my master card can be used over there. I will prefer to carry less money. To avoid robbery. I am suppose to carry POF of 20000.

 

[qorax]

I mean can I hold 10000USD as cash and get a Nigerian statement of account on 10000USD that is in my account. Instead of carrying the whole 20000 as cash. Since my master card can be used over there. I will prefer to carry less money. To avoid robbery. I am suppose to carry POF of 20000.

That's not an accepted procedure.

 

[waqar333]

That's not an accepted procedure.

Dear Qorax,
We may need to show about CAD $ 14000/- at our POE, so as option 1) Can I show my Pakistani Pak Rupee bank account statement equal to CAD $ 10000 as POF and 5-10k as cash.
2) DD in Pakistani Pak Rupee equal to CAD $ 10000 as POF and 5-10k as cash.
Or otherwise any other suggestion please ???

 

[TJ2010]

That's not an accepted procedure.

We did not want to carry too much in cash. God forbid bad thing. Do you suggest we carry everything. What of if we carry 15,000 and put 5,000 in the account.

 

[hsp402]

Dear Qorax,
We may need to show about CAD $ 14000/- at our POE, so as option 1) Can I show my Pakistani Pak Rupee bank account statement equal to CAD $ 10000 as POF and 5-10k as cash.
2) DD in Pakistani Pak Rupee equal to CAD $ 10000 as POF and 5-10k as cash.
Or otherwise any other suggestion please ???

Waqar bhai your question was targeted to Qorax bro; however, just to clearify one thing bank statements from Pakistan cannot be shown as POF at POE. It should be in the form of either cash, DD, Travellers cheque. I would suggest make a DD or Travellers cheque and some cash is fine

 

[brighta]

No issues. But their'd be a huge exch loss at back transaction.

Dear qorax

with regard to the exchange loss/commission of banks during transaction which one (from bank draft or travelers check) is better/worse.

 

[DilDilPak]

Dear Qorex,

Thanks for sharing details for “Proof of 'Landing' Funds.”

Kindly share your views on following situation.

If funds have been transferred into an account in US bank, having a branch in Canada i.e. amount will be readily available to NEW migrant upon landing and can be verified at POE.

In such situation will a print of online bank statement presented at POE can satisfy the requirement.

Thanks in advance.
IA
***************_

 

[kasa111]

hi

i have family of four planing to migrate from usa to canada, how much POF should i have to show at the time of landing (cash/dd/mo/tc in any format). also can i exceed the limt of POF and does my us bank account can be valid as my POF. please help me. thanks

 

[501]

Dear Qurax,

We are landing very soon and I opted to transfer my pof to my mother in law's account in Canada. My question is, is this alright and do I have to declare it still? I have myself a proof that I transfer it in a wire system of banking. Thank you, hoping for your reply.

 

[emamabd]

hi

i have family of four planing to migrate from usa to canada, how much POF should i have to show at the time of landing (cash/dd/mo/tc in any format). also can i exceed the limt of POF and does my us bank account can be valid as my POF. please help me. thanks

here you can find the required PoF amount depending on family size.

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


The same link also shows the acceptable formats of POF

These funds could be in the form of:

- cash
- documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.) or
- documents that guarantee payment of a set amount of money, which are payable to you (such as bankers’ drafts, cheques,
travellers’ cheques or money orders).

 

[emamabd]

Dear Qurax,

We are landing very soon and I opted to transfer my pof to my mother in law's account in Canada. My question is, is this alright and do I have to declare it still? I have myself a proof that I transfer it in a wire system of banking. Thank you, hoping for your reply.

in my opinion POF means funds at your possession or at your direct disposal...i.e. either in your canadian bank account or in cash or in the form of traveller's cheque/draft check under your name.

when you transfer the funds to someone else..then it isn't directly accessible to you anymore...maybe if she issues you a cheque under your name..then it could be accepted...i'm not sure about that,but just giving you an idea to consider.

Anyway, here you can find the acceptable formats for POF as defined by CIC

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

These funds could be in the form of:

- cash
- documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.) or
- documents that guarantee payment of a set amount of money, which are payable to you (such as bankers’ drafts, cheques,
travellers’ cheques or money orders).

 

[ramzy2277]

hi all,

I am about to land at Toronto next week insha ALLAH,i was planning to carry 6000 CAD $ in cash and show the remaining of our funds in a bank statement from dubai islamic bank,we r staying fora month or so,then come back,is that acceptable?

I already sent an inquiry to LVO here is their reply:

"They would consider as long as you have access to the money via a card or internet transfer etc."

I am afraid if i make DD, convert from Dirham to CAD $ then after returning enach it to my account again from CAD $ to Dirham will certainly lose alot in the exchange rate......and I am afraid if I go with the bank statement the IO rejects it and denies our entry to Canada?....

Plz seniors and ppl who have experience please advise

regards

 

[angelruth]

Hi all,
My husband opened an account with Scotia bank and planning to transfer part of settlement fund and show account details and wire transfer receipt as proof of settlement fund. Is it necessary that settlement fund (i.e. Scotia bank account) should be in primary applicant's name? I'm the primary applicant but my husband would be landing in canada along with me. Please clarify. Thank you.

 

[respectall]

Can you guide me regarding the personal assets declaration Vs Canadian benefits?

Is it true that if we don’t disclose the amount of our bank statement, jewelries, other wealth in the form (things to borrow latter) then whenever we bring them Canada, it'll be charged by tax rules.

On the other hand if we disclose our wealth (bring them first time or in list them in things to borrow) then we’ll be unable to get Canadian social benefits/relaxation (student loan, low wages benefits, etc..)

Secondly, if we want to sponsor parents again we need to have strong wealth in Canada.

How to balance this ratio?

Your guidance is really helpful.

Thanking you in advance.