Therealmccoy

I think i'd better be safe than sorry, ill see what I can do about quickly selling some of my smaller household assets, credit card debt doesn't bring us too far away from the limit. better than waiting for the uncertainty of a new application.

GermanytoCanada

When we applied, I recall the wording purely asking for the proof of funds to be relevant to the principle applicant. At no point were we asked for the financial position of the accompanying spouse.

Having checked the CIC site today, it refers to the PA being able to utilise funds held by the AS providing they have access to the funds. It does not mention liabilities of the AS unless it is referred to elsewhere.

On that basis, I would argue that the PA does achieve the proof of funds requirement as they are not responsible for a liability held solely in your name.

If someone can point me towards any formal advice from CIC that contradicts this position, then that would close this issue.

MiniB

Have been stalking this thread so appreciate the useful advice & info.

Not to hijack, but a quick query: does the proof of funds amount have to be at minimum at the point of entry to EE pool or when you're given invitation to apply?

Growing my funds at present which of course determines when to submit plus will have a growing average. Have the similar situation of cash tied-up in things that will be sold on top of ongoing savings.

christmasoompa

Both (and when you land to activate PR too). If you don't have enough proof of funds when you apply to enter the EE pool, then you will be rejected at that first stage anyway.

Definitely keep saving and selling stuff, the proof of funds amount is considered by most to be ludicrously low and will soon go when setting up life in Canada! This thread has some useful figures in, although it's quite old now so you'll need to add a bit - http://britishexpats.com/forum/canad...canada-735341/

And don't forget that you'll need your other costs on top of your proof of funds amount, allow a extra for your visa fees, medicals, etc.

HTH.

PMM

Hi

1. As an aside here is a recent ruling from the Federal Court that addresses proof of funds for EE applications. https://decisions.fct-cf.gc.ca/fc-cf...18063/index.do



" There is no dispute that the following text box contents were available to the Applicant when she filed her application. The text box states: Express Entry – Permanent Residents
If you are applying for permanent residence in Canada you must provide an official letter issued by your financial institution indicating your financial profile. This must
· list of all your bank (chequing and savings) and investment accounts, the account number, dates each account was opened and the balance of each account over the past six months.
· list all outstanding debts, such as credit cards and loans.
· Be printed on the letterhead of the financial institution, and include your name and the contact information of the financial institution (address, telephone number and e-mail address)."