🇨🇦 Proof of Funds for Canada Immigration 2021 | Useful TIPS & Common Queries | Canada Express Entry
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- čas přidán 8. 10. 2020
- In this video, I am talking about Proof of Funds required for Canada Immigration Express Entry program and everything you should know about Proof of Funds Canada Immigration.
Topics Discussed:
- How much money is required
- What is allowed as proof
- Important documents to submit
- Useful TIPS
- Common Queries Answered
Official website to check Proof of Funds details : www.canada.ca/en/immigration-...
You can also follow us on Instagram @Humpty02Dumpty to know more about us :)
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Many thanks for reading till the end.
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Very nice and very helpful information for us will keep in mind in our process Ma’m! Thanks a lot and god bless both of you keep smiling always and forever!!
Thank You for your wonderful words and blessings 🙏🏼😊 We feel blessed reading your lovely comments. You stay safe and blessed too😀
First time watching your video... simple and well explained. Great inputs and much needed for everyone. Expecting more like this..
Thanks a lot👍🏼😊
Thank you for the information in your videos. Very helpful!
Thanks for the video. Keep up the good work!
Thanks for watching our vlogs 😊😊
Thanks, this is helpful. Although i did see this info on Canada immigration website, hearing this from someone who has done it, is helpful.
Thank You so much. Good to hear the feedback from u😊😊
Great humpty mam👍👍
Thank You :)
Great video and tips. Thanks a lot
Your video's are really helpfull.. thanks a lot.. keep going 👍😍😍
My pleasure 😊 Thanks for watching our video. :)
Thank you so much for generous sharing it was so helpful .may god bless you
Thanks,very good usefull tips,laid out very simply&explicity.
Hi Joseph- Thanks a lot for your feedback 😊🙏🏼Helps us to stay motivated to create more videos 😊
Very honest and straight forward sharing. 👌🙏
Thank you for this video!
You’re Welcome 😀
Thanks for recent updates and requirements.
You are doing great work for hassle free process. 💕💕👍.
Thanks a ton for your support
Hi I subscribed your chennel today and it's really great and too
Much help fully really Thank you very much the value able times you spent for us...... please keep it up I have seen hundreds of vedio on Canada PR but no body's touch the theses types of points.... really great!!!!! Thank you very much again...God bless you... from Naresh Kumar, Great India.
Hello- Thank you so much for your feedback. This really helps us stay motivated and improve at the same time. Many thanks for watching our videos ☺️🙏🏼❤️
Thank you for sharing the inputs. You could please share more details about gift deed. This video has cleared many of my doubts.
Hello- We are happy to hear that video was helpful to you. I will share gift deed and other formats in the coming video. 😃😍
Very very informative video 🙏
very well explained, thank you
You are welcome!
Very nicely explained
Thank you for the valuable information.. 😊
My pleasure 😊
Really helpful video! Is it necessary to declare all your bank accounts or only the one where you have the required Proof of Fund available? As in my case my salary account and Proof of Fund bank account are different. Thanks!
Yours English is Superb!!!
Thank You 😀🙏🏼
All are awsm
Great information ❤️
Thanks for watching!
Hi mam how are you? Your information is really worthy.Thanks for your precious time.
Thanks a lot
Thanks for sharing.
Very nicely explained. Thank you. Any idea if we can bring our pets?
Very good and detailed information
Thank You so much😌🙏
Thanks for the informative video. Can you please tell what do you mean by liquid stocks? And how can I show proof of mutual funds and stocks?
Thank you for the informative video. Can a retirement fund be included as well?
Very informative vedios..
Glad you liked it😌🙏
Hey loved your explaination could you please elaborate regarding the liquid fund part other than rd fd savings how to show it
Thanq you so much madam..
You’re Welcome 🙏🏼☺️
Thank you for the valuable video.
Please clarify, if the amount we need to show as proof of funds is CAD17000, upto how much amount can we show as gift deed??
Thank you so much very informative video, I just have one question I'm sharing PoF with my wife and I'm the primary applicant, The authority letter that you talked about, should it be on stamp paper as well or just a simple letter will do with a signature etc. can you explain how did you do it. Thanks in advance
Thanks for the information in this super nice video dear.. Please what's the difference between proof of chance and ties to your country. Because to my knowledge i think proof of funds means you can be able to foot your bills whiles there and ties to your country means something you have that guarantees you will come back. But in videos you will see people saying ties to your country can be a significant amount of money in your bank account so I get confuse if that is for ties then what's for proof of funds. Hope to receive an answer soon. Thanks very much.
Good information thank you....
Thank You Aida for following and subscribing our channel and watching our videos. We feel happy to hear the videos are helpful to you guys. 🙏🙂
@@humpty02dumpty thank you dear..
Very helpful
Thank you so much 😊🙏🏼
Very good video. Wrt last point, what if the applicant has a home loan? Would that be a problem?
Great video, thanks.
Will a person having offer of employment letter, offer of employment number and applying for employer specific work permit under LMIA exempt need to show proof of fund?
If yes, kindly give info on the value of the funds for different family sizes.
Thank u mam
You’re Welcome 😊
Good
Hello Mam,
My Q here is that how much money I need to maintain in my bank account in last 6 months.?? Suppose canada gov is allowing $12960 for individual then it is mandatory to maintained the same amount since last 6 month?
Thanks for the detailed information..also I need to know,
1. Do we still need to show or submit 6 months bank statements if I have gift deed from my parents for whole amount which deposited in recent new account??
2. As I got it as gift to my newly created account and also I don't want to show other bank statements
Thanks in advance!!
Hi there! Thanks for all the info. What if there's a lot more money than is required for a single applicant? Say by several thousands dollars... Maintaining more than the minimum required amount.. Can I continue using my accounts after submitting my eAPR?
very informative video! how to show PF ? can you share the format?
Hi Abhijeet- Glad to hear that u found the video helpful 😃😃🙏
For PF- You need an official letter from PF organization mentioning the amount of funds that is accessible to you and required by you to show as POF.
Letter Format should include following information:
Printed of Financial Institution letter head with complete info (name, address, phone and email)
Include your Name
Mention any debts/ loans etc.
Account Number, Date of opening, Current Balance, Average Balance in past 6 months
Last 6 months statement
Amount that is accessible to u that can be liquidated any time
Signature of an authorized bank employee
Thanks
Thanks for the information mam l want to know how much amount of proof is needed for visit visa
The system currently asks all applicants to provide a proof of funds document. If you don't need to provide proof of funds, you must upload a letter explaining either that you have been invited to apply under the Canadian Experience Class, or that you have a valid job offer.
You can attach canada job payment salary slip
Hi. Are you absolutely sure that proof of funds can be stocks holdings (demat account)? I read so many other places stating stocks are not considered proof of funds and others state like you do that it is considered as POF. It is so confusing as the Canada immigration website does not clarify this at all. I believe it should be considered as it is highly liquid.
What is the format for showing funds for the second year of studies if you are a student and how much is needed
Very nice and helpful video, thank you very much, But I do have a query, suppose I have a home loan under my name but I have arranged for required amount as 'proof of fund,' will the home loan be a cause of rejection.
Very informative video. Can we show half of the proof of funds in primary applicants savings account and remaining half in secondary applicants PF balance? will that work.? Appreciate your inputs.
You can show funds in secondary applicant's account as well but need authorisation letter in that case. Please check this video for the format czcams.com/video/veGyILEk4-g/video.html
@@humpty02dumpty This is really helpful. Thanks a million.
Is it okay if the account type shown on the bank statement is time-deposits? Meaning the money can be withdrawn only on a fixed day of every month?
Hi... I have 2 questions here
1) If the PPF account is more than 10+ years old and on the bank website it clearly shows how much is withdrawable... Isn't tht amount considered
2) at the time of submission of Proofs of Funds.. If there are loans I. E. Home Loan and Loan against Property.. Will tht be an issue?
The allowed amount you mention can it be used for study visa as well? Such as liquid stocks
Thanks.But the question is if we have a home loan whose EMI is not linked with this POF bank account, is it valid?
The fund we need to take it out as cash when we travel to canada or should keep in account and bring the debit card with me?
Mam,
Did you also submit bank statements for the last six months or was the balance for the last six months mentioned in the Bank Letter.
We submitted statement for last 6 months
Can we apply for a personal loan for the entire PR process ?? Having liability will affect the PR process in negative way ??
Are funds required at the time of entry to Canada, or also when you are applying(after receiving an ITA)?
Funds are required during both the events - At the time of entry to Canada, and when you are applying(after receiving an ITA)
Please let us know should we stay keep that amount in our account until we get later of invitation from authority of canada?
Hi, do we still need to show average balance for 6 months and statement for 6 month even if you are showing proof of funds for FSW in the form of FD?
Hi, Can you please answer my query when you get a chance. 'whatif we already have existing home loan? In that scenario, will it be a drawback for PR application and will it have impact on proof of funds?'
Hi.. I am planning to apply for canada PR in February 2021.From when(which month) do i need to show my proof of fund? Also in the express entry page there is a statement written -update for proof of funds must be done by February 2020.Pls clarify what does this mean?
Hi Mam..
If i get money in my bank through a gift deed, should it be in the bank account for 6 months? Or can i apply as soon as i get the money?
Looking forward for your reply. Please advice.
i am confused that we have to show fund before documents submissions in pool or after ITA receives.
@HumptyDumpty2
Please correct me if I wrong here,
If we have to show proof of funds in CAD, how can we have saving bank account in CAD? or we can keep equivalent fund in INR in our regular saving bank account and then at the time of landing to canada, we withdraw all of them (ofcourse after PR has been granted) and convert it into the CAD and take them along with us?
Thanks so much in advance. 😊
Thank for the information. Pls ma how much money can visitor show as proof of funds at the port of entry at the airport. Pls
Hello- it is the same amount I explained in the video.
What kind of FD and Mutual funds can be consider? ElSS or tax saving fixed FD can be consider? These are not a quick cashable funds
You said we should carry proof of fund. Which means money should be in bank account. I'm confused here. How to use or transfer my money from Indian bank to Canada bank?
Please make a video about one PNP and EOI
Just a question, if my wife is moving with me to Canada and we are showing POF in our joint account so still I would require Authorization letter from my wife?
Hi. Thanks for the explanation. If I have the money in Mutual Funds and PF accounts or FD, do I need to withdraw that and keep it in savings account for a period of last 6 months?
No.pf money u need not withdraw
Do we have to show the sources of funds?i mean wer d money came from?
Can my father transfer money onto my salary account in case I need to show proof of funds as a gift deed letter? Or is it necessary to get it transferred to the savings account?
Could you kindly let me know that is it mandatory to liquidate my stocks and mutual fund in support of proof of fund?
Hello Mam, I am finding your videos very informative. Thank you for sharing your knowledge. Can you also tell us about the jobs for engineering and the best way to immigrate to Canada as a engineer
Hi Asmita- Jobs market is very unpredictable at the moment here. Best way is to keep checking the jobs portals for the jobs related to your skill and this will give u a fair idea on how the market looks like.
@@humpty02dumpty
Thank you mam 😄
Mam plzz make a video on Salary Tax deduction in canada for example like per month someone earning 3000CAD than how much tax will be deduct from his salary and what are the benefits of tax deduction in future..??? This is the very good topic to make a video also very important thing for upcoming new immigrants...plz its a request...
Hi! Thank you for this video. I had a question. Can I show my spouse's funds as proof of funds? I am the primary applicant and she will be joining me. Pls note, we dont have any joint accounts and her funds are under her account. Can I show hers, along with mine as proof of funds?
So this is only for express entry? How about if I'm sponsoring my husband thorough spousal sponsorship? Do they require anything to show
What happens to the funds once I get my PR? I have received my PR recently, do I need to open a Canadian bank account and transfer these funds to that account?
Hello Ma'am... Can you tell me the period range for six months? Is it six months to the date when we apply for Express entry?
Hey- 6 months from the day you submit your ITA documents.
Me, my spouse and my lil kid 2yrs old is planning to move to Canada. Do I need to consider kid also as a 3rd member to calculate for proof of funds??
If we have loans running already will we need to close all the loans to show proof of funds? Also, can we show the EPF account balance fully as proof of funds?
You can declare the loans while showing your POF. IRCC recommends declaring all the debts in the POF letter and it should be fine as long as u r able to show the liquid money asked per the defined criteria.
And is it ok if we already putting mny in account even before the wes application?
🎉👏🌺
😀🙏😌😍
Do we have to show 6 months of Bank statement? if not, how many months of bank statement is needed?
where can we verify all this info on the canada govt site.
would you happen to have the link.
specially - Mutual fund, friend, at the time of immigration procedure to prove it to them at the airport
Hello mam
LIC (LIFE INSURANCE) Policy is allowed or not
Do I have to include Express entry fees in my gift deed or in my proof of fund?
Do they bother where I get the money to pay fees?
I'm very confused about it.. My father giving this money to pay my fees by my own credit card, but this amount I didn't include in my gift deed and in my FD's. Please help me out is it okay not to explain where I get the money for paying my fees or do I need another gift deed for it
Is money in Post office MIS scheme or Time deposit scheme considered as proof of fund for any H1B Visa?
Nice vedio . Is it possible that when I get ITA then I will sell my car and deposit that amount in to the bank account and then show proof of funds because you told us in this vedio that we should maintain last 6 month bank statement.
Thanks for your videos.
1. Can we show land as proof of funds ,
2. What if we have HOME LOAN EMI
Please reply
Hi, How does ircc identify if a stock or MF holding would be liquid?
Does it require explicit citation?
Hey.. have a query..if FD is in the name of parents but our name is added as a nominee will this work for proof of funds??
Do I need to show bank statement of last six if I am showing sufficient funds in FD's older than one year?
Hey can you please tell, How much and How long should you keep money in the bank for immigration to Canada?
Ideally keep it till the time u land. Officers mights ask for POF when u land.
Hi which bank is good for showing proof of funds? Shall i deposit in Bank of India ?
Ma'am,
Do I need to have balance of 10k dollars for 6 months straight even if my husband is the Primary Applicant? I will show my Authorization letter and Proof of Funds as well.
Thanks and Regards
Mahak
Mam agar hum proof of funds ke liye ek saath bank account me money deposit krwate h toh income tax ka notice bhi toh aa skta h. Chahe gift deed kyo na ho.please explain me.