Required Proof of Funds

[CanadianDreams419]

Proof of Funds.

Acceptable Proof of funds are:
- Bank accounts in your name or the name of your accompanying spouse/common-law partner;
- Cash-able investments in your name or the name of your accompanying spouse/common-law partner;
- Cash-able fixed deposits in your name of the name of your accompanying spouse/common-law partner.

Not Acceptable as Proof of funds include:
- Bank accounts in someone else’s name;
- Bank accounts which are joint in your name and someone else (other than your accompanying spouse/common-law partner);
- Bank accounts in the name of your spouse who is not accompanying you to Canada ;
- Property valuations;
- Vehicle valuations;
- Jewelry valuations.

Amounts required as based on number of family members:

No.Family Members Funds Required

No.Family Members: 1 $11,931
No.Family Members: 2 $14,853
No.Family Members: 3 $18,260
No.Family Members: 4 $22,170
No.Family Members: 5 $25,145
No.Family Members: 6 $28,359
No.Family Members: 7+ $31,574

You do not have to show that you have these funds if:

- you have a valid offer of arranged employment in Canada AND
- you are currently working or authorized to work in Canada.

 

[iceberge]

Proof of Funds.

Acceptable Proof of funds are:
- Bank accounts in your name or the name of your accompanying spouse/common-law partner;
- Cash-able investments in your name or the name of your accompanying spouse/common-law partner;
- Cash-able fixed deposits in your name of the name of your accompanying spouse/common-law partner.

Not Acceptable as Proof of funds include:
- Bank accounts in someone else's name;
- Bank accounts which are joint in your name and someone else (other than your accompanying spouse/common-law partner);
- Bank accounts in the name of your spouse who is not accompanying you to Canada ;
- Property valuations;
- Vehicle valuations;
- Jewelry valuations.

Amounts required as based on number of family members:

No.Family Members Funds Required

No.Family Members: 1 $11,931
No.Family Members: 2 $14,853
No.Family Members: 3 $18,260
No.Family Members: 4 $22,170
No.Family Members: 5 $25,145
No.Family Members: 6 $28,359
No.Family Members: 7+ $31,574

You do not have to show that you have these funds if:

- you have a valid offer of arranged employment in Canada AND
- you are currently working or authorized to work in Canada.

+1. Good work. Very helpful information.

 

[kryt0n]

How much do kidneys go for these days?

 

[andy000]

How much do kidneys go for these days?

LOLzzzzz

 

[dersonc]

Purpose

To confirm whether the applicant meets the low income cut-off (LICO), as assessed by amount of money they hold compared to the number of people in their family

Document requirements

The applicant should provide official letter(s) from financial institution(s) which list all current bank and investment accounts, as well as outstanding debts such as credit cards and loans.
The letter(s) must be printed on the letterhead of the financial institution and must include applicant’s name, the contact information of the financial institution (address, telephone number and e-mail address), the account numbers, dates of when each account was opened and the current balance of each account as well as the average balance in the past six months.
Other documents may also be requested, as necessary.

Individuals who must submit this documentation

The principal applicant

Source: http://www.cic.gc.ca/english/resources/tools/perm/express/intake-complete.asp

 

[Pippin]

How much do kidneys go for these days?

In Canada you cannot pay for organs, but I would like to take this opportunity to encourage everyone to sign up for organ donation, or to donate stem cells through One Match https://www.blood.ca/en/stem-cell/onematch-information-new-registrants
As more nationalities make their homes in Canada, the need increases for a multicultural organ and blood donor registry to meet the needs of all Canadians.

 

[Pippin]

And a fresh +1 CanadianDreams for a clear, much needed post.

 

[niravk]

Will I still need to prove my financial sufficiency on a bank letter head, if I have the necessary amount in the savings account or fixed deposits of the same bank. Will just a copy of statements work?

 

[manojsr]

Purpose

To confirm whether the applicant meets the low income cut-off (LICO), as assessed by amount of money they hold compared to the number of people in their family

Document requirements

The applicant should provide official letter(s) from financial institution(s) which list all current bank and investment accounts, as well as outstanding debts such as credit cards and loans.
The letter(s) must be printed on the letterhead of the financial institution and must include applicant's name, the contact information of the financial institution (address, telephone number and e-mail address), the account numbers, dates of when each account was opened and the current balance of each account as well as the average balance in the past six months.
Other documents may also be requested, as necessary.

Individuals who must submit this documentation

The principal applicant

Does it mean, you need to include every account in your name. e.g. If you have 4 bank accounts but the funds are lying in 2 of them, would showing the letter for those 2 accounts be sufficient?

 

[kakmam]

Hello

Can we take loan from any bank to show the funds and later we can distribute in different accounts and submit the statement copy from all these bank accounts.

Does it work ? Please suggest

Thanks in advance

 

[niravk]

Hello

Can we take loan from any bank to show the funds and later we can distribute in different accounts and submit the statement copy from all these bank accounts.

Does it work ? Please suggest

Thanks in advance

Borrowed money is not counted as proof of fund.

 

[kakmam]

Borrowed money is not counted as proof of fund.

Guys,

Do we need to submit the last transactions details as well or only balance statement validated by bank will be fine ??

 

[kryt0n]

The last 6 months of statements are needed. Any large deposits will be questioned.

 

[kakmam]

The last 6 months of statements are needed. Any large deposits will be questioned.

Thanks Kryt0n for reply.

If I will go for loan and submit that in my different accounts (in 4 accounts) which is on my name. would tht be ok

 

[kryt0n]

Absolutely. Sure. Ignore everything we have said about loans and that they are not allowed. Ignore the advice that you will need to justify amounts and go ahead. What's the worst that could happen, right?