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Invitation to Apply - Proof of Funds

Invitation to Apply - Proof of Funds

Old Jan 29th 2016, 6:30 pm
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Default Invitation to Apply - Proof of Funds

Hey friends,

In the past this site has helped so much and therefore I am back with a new question

I recently received an invitation to apply and as I work through paperwork, the proof of funds section has be incredibly confused.

Could anyone direct me to the format that I should provide the proof of funds? On the website it asks for a letter from banks on letterhead for example?!

Are stock options in an e-trade account okay for example, or would I need to sell some to reach a minimum?

I am aiming for PR by myself so would be a family of 1.

Thank you in advance for all your support,

Andy
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Old Jan 29th 2016, 6:39 pm
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Default Re: Invitation to Apply - Proof of Funds

Sorry, if I could also add.

I have been working in Canada for 2 years on a temporary work permit which runs until December 2016.

I will be continuing employment with my current employer here in Canada.

Does this change anything?

Thank you!

Andy
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Old Jan 29th 2016, 6:41 pm
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Default Re: Invitation to Apply - Proof of Funds

PPS I do not have an LMIA from my employer...
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Old Jan 29th 2016, 10:52 pm
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Default Re: Invitation to Apply - Proof of Funds

What did you get the ITA for:

FSW, FST, CEC, PNP?

For FSW (as its just yourself) the minimum is $12,164.

On the '?' Icon on list of documents page that you upload to, it should give you word for word what they require

Edit: this is what I copied and pasted from my documents list:

'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 numbers, 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).'

Last edited by beckiwoo; Jan 29th 2016 at 10:56 pm.
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Old Jan 29th 2016, 10:58 pm
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Default Re: Invitation to Apply - Proof of Funds

There is no format but just make sure your banks include all the information required. A couple of mine did not want to put the average balance on the letter so I uploaded 6 months of bank statements for each of my accounts instead
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Old Sep 25th 2016, 5:55 pm
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Default Re: Invitation to Apply - Proof of Funds

What do you do if you have funds in multiple accounts? Do you just compile everything together in 1 large PDF?
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Old Sep 25th 2016, 5:58 pm
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Default Re: Invitation to Apply - Proof of Funds

Originally Posted by graeme.baker
What do you do if you have funds in multiple accounts? Do you just compile everything together in 1 large PDF?
Get the bank to write a letter confirming X amount of funds in X amount of accounts with account numbers.
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Old Sep 25th 2016, 6:01 pm
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Default Re: Invitation to Apply - Proof of Funds

Sorry, I should have clarified, the money is between different financial institutions
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Old Sep 25th 2016, 6:17 pm
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Default Re: Invitation to Apply - Proof of Funds

Originally Posted by graeme.baker
Sorry, I should have clarified, the money is between different financial institutions
You get letters from each financial institution.
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Old Sep 26th 2016, 2:51 pm
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Default Re: Invitation to Apply - Proof of Funds

As Beckiwoo stated you need to check what program you have been invited under. As you have 2 years of work experience in Canada as a TFW you may have been invited under Canadian Experience Class (CEC) if so you don't need proof of funds just proof you can support yourself. A letter from your current employer stating your salary and the nature of the job as permanent could be all you need.
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Old Sep 27th 2016, 11:57 pm
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Default Re: Invitation to Apply - Proof of Funds

If invited under CEC you must provide an explanation in the relevant upload slot stating you have been invited under CEC:

"Note: You do not have to meet the funds requirement if you were invited to apply under the Canadian Experience Class.

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."

Do I need to include proof of funds for Express Entry?
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