Proof of funds requirements - Explained

[harish93]

I have a question. I currently have 20000 CAD in my checking account in USA. I received my ITA last week. I can get a statement from the bank that I have maintained this balance for the last 6 months. Is this sufficient proof of funds, or should I show additional funds from other sources?

 

[vinit patel]

I Have a question as I am new to the process, I have an ITA with a job offer so do I have to show proof of funds?

 

[sam.devilz19]

I will be needing around 6.5 lakh as proof of funds to be shown. I have a salary account with where in I have saved upto 2 lakh. My brother is willing to take a personal loan of remaining 4 lakh now and transfer that amount to my salary account to equate it to the minimum required balance. He will then be paying the debts on his own and I don't have to pay that amount back to him. Technically, it is not required to show the origination/source of funds if it has stayed in the account for more than 6 months (correct me if I am wrong tho). If I let those funds (2lakh + 4lakh loan merged) sit in my salary account as it is, without any withdrawal for 6 months and the apply for EE. Will it make my POF proof any suspicious?

 

[shuiguo]

Hello!

My bank gave me the statement detailing the amount I have USD (they use this currency for bank statements in English), however the month by month bank statement is in local currency (not usd nor CAD).

Will this be ok?

 

[MalenaTee]

Hi all. I hope someone can help me!

My bank only issues statements every 3 months. So I have the last ones until 30 of March, but I am applying now (in May) and my bank letter detailing the current balances and list of accounts is for May date.
Do you know if the difference will be the problem? Or can I just send the last available balances? How should I got about that?

Thank you in advance!

 

[can-dream]

I Have a question as I am new to the process, I have an ITA with a job offer so do I have to show proof of funds?

no you don't need to show proof of funds. Because you have job offer (valid)

If you are invited to apply under the Federal Skilled Worker Program or Federal Skilled Trades Program, you will need to show that you meet the settlement funds requirement unless you:

• are currently authorized to work in Canada, and
• have a valid job offer from an employer in Canada.

 

[Drogo]

Hi
My partner and myself have joint bank account and we recently met the required amount for 2 persons (which is around 15000 CAD). I am just wondering if we can show the bank statements of joint bank account to show POF or bank statements have to be on principal applicant name? The required amount have to be in account for 6 months or it does not matter.

Anticipating generous response.

 

[enigmatic99]

no you don't need to show proof of funds. Because you have job offer (valid)

If you are invited to apply under the Federal Skilled Worker Program or Federal Skilled Trades Program, you will need to show that you meet the settlement funds requirement unless you:

• are currently authorized to work in Canada, and
• have a valid job offer from an employer in Canada.

Hello,

I have been recently graduated from Canadian University and I do have PGWP but I haven't worked yet so I don't have any income right now. I am planning to apply for PR, So in this case do I need to provide proof of fund.?

 

[vj83]

I am accompnaying my husband so can I show the money as POF in my account also

 

[SoniaJav]

I am accompnaying my husband so can I show the money as POF in my account also

Yes you can, no harm done - as long as its in addition to the proof of funds of principle applicant.
If principle applicant has nothing to show in their own account...you can add him to your own as a joint account holder.

 

[sma068]

I have a question. I am a FSW applicant and received an ITA on 23rd May. Do I still need to show POF. I do not have a valid job offer yet as I am still looking for a job.

 

[sma068]

I have a question. I am a FSW applicant and received an ITA on 23rd May. Do I still need to show POF. I do not have a valid job offer yet as I am still looking for a job.

Oh i do have a PGWP by the way

 

[vj83]

1.In one of my bank.. I have loan account as well as savings account. Should I show it. Implications, Loans will come in liability.

2. I am not staying in my home country and guests visited me I spent in local currency and they are returning me back in my home country currency. How to show that

 

[spotdar]

Hello everyone,
I am a month away from the ITA deadline. So far I received deposits of around 8-9000 usd to fulfill my funds requirement. Do I have to submit a notarized affidavit stating its a gift and not borrowed?
NEED HELP URGENTLY
Sumi
Express Entry Candidate

 

[norberto]

hello , can you please tell me how i can show ownership of real estate . thanks