paul_j

Hi,

Would it be possible to submit proof of funds that is below the required amount at the time of application? Or is it absolutely necessary to show that you have the exact amount or more?

Right now, I only have about half of the required proof of funds, but I can save up the money without problems during the time that it takes to process the application, from my understanding 12-24 months.

Thanks!

Andrew Miller

Having required amount of settlement funds is a regulatory requirement and pre-requisite. Application without acceptable proof of funds (or with smaller amount than required) will be refused without processing. Save money first and then apply, sorry.

abrau

Most probably your application will be returned if you forcibly submit Proof of Funds which is below the minimum required. Look for a way to come up with the right amount. Btw, are you applying alone?

paul_j

Yes, I am applying alone.

I guess I need to find a job that pays double what I am making now

jpaul

Hi Andrew,

I have just read your reply to paul_j with regards to proof of funds. This was my experience with respect to this situation, before I sent in my application I was told by a friend that I had to have approximately $10,000cdn to show proof of funds. When I sent in my application my bank statement showed a little more than $10,000cdn. 3 months after my application CIC Trinidad, sent me a letter asking to show proof of additional funds amounting to $11,775cdn, in the letter it was mentioned that failure to provide such within 2 months will result in my application being refused.
Of course I sent in my statement soon after to show the required amount-the next day.

Mr. Miller was that a discretion exercised by the CIC officer, since at that point my application could have been refused.

I appreciate your comment.

regards
jpaul

Airseir

Surely this depends on how you demonstarte prrof of funds. We got 2 independant estate agents to value our house and provided the equity value as proof of funds accompanied by a statement that pointed out that since we intend to move to Canada we would sell our house prior to the move anfd therefore have more than the required funds. We have an interview waiver and still rely on the sale of the house for funds. This will be the nail biting part - ensuring that we can complete on the sale (relying on getting a buyer) within the required time.

Andrew Miller

It happened because it was a small, periodic adjustment in the amount of funds required at that time, so you got lucky.

Andrew Miller

Only CHC London accept in some (but not all) cases valuation of real estate as proof of funds at the time of application. All other visa post require strictly liquid funds to be proven.

Covenant

I have to admit that I had to beg borrow etc to get together enough money to show that we had the money (we sent a letter from our bank manager who verified that at that point in time we had the funds in our accounts) despite the fact that we will release approx £150k after we sell the house.

I assume that the money doesn't have to be there throughout the assessment period.

Edit. Incidently I understand that share certificates, Tessas etc can also be submitted, as long as you can prove that the savings etc., can be transferred readily into funds when you move.

OzRob

Sydney will also use property value as proof of funds at time of application. They advised me to show some liquid funds in addition to the equity in my home.

triniangel

Will one get in trouble if he submitted proof of funds but subsequently he removed money so at present time his bank does not have the money? Does the CHC call the bank to verify?

Jim Humphries

They will not call the bank but they may ask for new proof later in the process.