Regarding Proof of Fund

[remz.anil]

I have contacted with a consultancy for immigrating to Canada through Express entry. I have not created online Profile yet. Will be doing it be this week.
My query is while creating online profile itself should I need to show the proof the fund or else after getting the invitation,only I need to show. I heard from a consultant that some people got rejection, only because of they didn't have fund at the time of creating the profile. Its because after getting the invitation we need to submit the bank statement as proof of fund, that time they will check the fund details from the time of profile creation. So if they find that the fund is not available in that account from the date of profile creation, the rejection will happen. Did anyone heard about this? I am going to create profile on this week, i want to conform do I need to arrange fund before profile creation or not.

Can you please help me on this, as I am very much confused with this.

 

[hemche]

I have contacted with a consultancy for immigrating to Canada through Express entry. I have not created online Profile yet. Will be doing it be this week.
My query is while creating online profile itself should I need to show the proof the fund or else after getting the invitation,only I need to show. I heard from a consultant that some people got rejection, only because of they didn't have fund at the time of creating the profile. Its because after getting the invitation we need to submit the bank statement as proof of fund, that time they will check the fund details from the time of profile creation. So if they find that the fund is not available in that account from the date of profile creation, the rejection will happen. Did anyone heard about this? I am going to create profile on this week, i want to conform do I need to arrange fund before profile creation or not.

Can you please help me on this, as I am very much confused with this.

My sincere suggestion would be start accumulating funds now. After creating profile, depending on your score, to proceed further with any application, you need to show required amount of funds and most of the programs ask for funds being maintained for 3-6 months prior to date of application. It is not mandatory to show funds to create Express Entry profile but maintaining funds from now is highly recommended.

 

[StAnger]

I have contacted with a consultancy for immigrating to Canada through Express entry. I have not created online Profile yet. Will be doing it be this week.
My query is while creating online profile itself should I need to show the proof the fund or else after getting the invitation,only I need to show. I heard from a consultant that some people got rejection, only because of they didn't have fund at the time of creating the profile. Its because after getting the invitation we need to submit the bank statement as proof of fund, that time they will check the fund details from the time of profile creation. So if they find that the fund is not available in that account from the date of profile creation, the rejection will happen. Did anyone heard about this? I am going to create profile on this week, i want to conform do I need to arrange fund before profile creation or not.

Can you please help me on this, as I am very much confused with this.

My question would be do you have funds?

You do not need to show them while creating profile but you will need to show them post ITA.

I am getting what your consultant is trying to say. Suppose if i create a profile on abc date and mention xyz funds without actually having those funds and later when i receive ITA, i deposit bulk funds, this could lead the officer to beleive that the funds were deposited on date post creating profile, which means you misintrepreted on funds. I may be wrong, but thats what i can think logically.

 

[mrpoghz]

Hi all,

I have 1 year Canadian work experience but I answered No to job offer, Yes to "are you currently working in Canada, with work permit", and declared like $4000 on the proof of funds? Will this automatically make me qualify for CEC and ineligible for FSW?
Is it still safe to change the funds to zero so we can qualify on CEC alone? Should it really be zero or any amount below the 12000?
How long will our online profile be updated to reflect FSW as Not Met? Because I updated proof of funds from 14000 to 4000 yesterday night and today it still reflects as Met for both CEC and FSW.
If I claim points for foreign work experience, will it automatically consider me under FSW, even I declare zero or below minimum proof of fund?
Your help will be appreciated. Thanks a lot.

 

[MooseNBooze]

My sincere suggestion would be start accumulating funds now. After creating profile, depending on your score, to proceed further with any application, you need to show required amount of funds and most of the programs ask for funds being maintained for 3-6 months prior to date of application. It is not mandatory to show funds to create Express Entry profile but maintaining funds from now is highly recommended.

This.

To add, it's not entirely accurate to say that CIC checks whether the funds were available at the time of EE profile submission. You can actually open a bank account a day prior to submission, so long as you can convince them that the funds are indeed at your disposal and were gotten through legit means. One way to do so would be to show transfer of funds from your other accounts that you may have opened for 6 months or more. Another is to show gift deeds and such through your family members.

In short, no, you don't need to have proof of such funds when you create the profile. But still advisable to have access to such funds (and getting such funds under your name) as soon as possible. Best wishes to you.