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Proving your proof of funds is genuine

Proving your proof of funds is genuine

Old Aug 8th 2015, 1:41 am
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Default Proving your proof of funds is genuine

Ok so I distinctly remember reading a while ago that proof of funds can not be a loan, and that you would have to verify that any one off deposits in a bank account were indeed genuine and available.

Q- Since my wife has received inheritance money,is there any official requirements we should know about in which to prove where the money came from?
Do we require a letter or something from her father and/or solicitor to say it is inheritance and 'not a loan'?


Hope someone can clarify
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Old Aug 8th 2015, 1:50 am
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Default Re: Proving your proof of funds is genuine

Originally Posted by Roberto1980
Ok so I distinctly remember reading a while ago that proof of funds can not be a loan, and that you would have to verify that any one off deposits in a bank account were indeed genuine and available.

Q- Since my wife has received inheritance money,is there any official requirements we should know about in which to prove where the money came from?
Do we require a letter or something from her father and/or solicitor to say it is inheritance and 'not a loan'?


Hope someone can clarify
Id certainly provide CIC with proof that the money is from an inheritance to avoid any suspicion.
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Old Aug 8th 2015, 2:47 am
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Default Re: Proving your proof of funds is genuine

Originally Posted by Former Lancastrian
Id certainly provide CIC with proof that the money is from an inheritance to avoid any suspicion.


Apologies if I didn't explain properly. I was meaning showing proof when we land and activate our PR visas in October..


When we showed proof of funds in our FSW application to CIC we showed the potential equity from our house sale. (x3 separate valuations)


So although we could potentially show again the house evaluations / equity to the border agency personnel, we are wondering if we can simply use a bank statement, (along with a letter / validation that the spontaneous deposit is inheritance)

Last edited by Roberto1980; Aug 8th 2015 at 2:49 am.
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Old Aug 8th 2015, 2:59 am
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Default Re: Proving your proof of funds is genuine

Originally Posted by Roberto1980
Apologies if I didn't explain properly. I was meaning showing proof when we land and activate our PR visas in October..


When we showed proof of funds in our FSW application to CIC we showed the potential equity from our house sale. (x3 separate valuations)


So although we could potentially show again the house evaluations / equity to the border agency personnel, we are wondering if we can simply use a bank statement, (along with a letter / validation that the spontaneous deposit is inheritance)
CBSA don't always ask for proof of funds as they are not overly concerned as the proof has already been provided to CIC to be issued with the COPR forms.
Don't be overly concerned with showing proof to the extent you had to with CIC.
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Old Aug 8th 2015, 3:21 am
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Default Re: Proving your proof of funds is genuine

Originally Posted by Former Lancastrian


CBSA don't always ask for proof of funds


Don't be overly concerned with showing proof to the extent you had to with CIC.


But what if they do? lol I'm not currently overly concerned. But I will be when /if I am asked.


Suppose we'll just take the valuations, as well as a bank statement just incase..


Cheers
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Old Aug 8th 2015, 6:58 am
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Default Re: Proving your proof of funds is genuine

Originally Posted by Roberto1980
But what if they do? lol I'm not currently overly concerned. But I will be when /if I am asked.


Suppose we'll just take the valuations, as well as a bank statement just incase..


Cheers
Have you sold your house yet or doing the landing but not establishing a residence because that makes a difference. If your funds are still tied up in the sale of a house and not establishing a residence then that's why CBSA don't become too concerned as those funds are still tied up and CBSA don't accept valuations.
If moving and actually establishing a residence then that's when CBSA may ask for proof of funds and that's where you produce bank statements or account balances. Im guessing quite a few who landed never had to show proof of funds or been asked for it when NOT establishing a residence.
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Old Aug 8th 2015, 9:45 am
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Default Re: Proving your proof of funds is genuine

If you have already established residence in Canada when activating PR would they still ask to see proof of funds?
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Old Aug 8th 2015, 9:52 am
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Default Re: Proving your proof of funds is genuine

I would think a copy of the death cirtificate and proof of probate would suffice
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Old Aug 8th 2015, 11:29 am
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Default Re: Proving your proof of funds is genuine

Originally Posted by Amtobi
If you have already established residence in Canada when activating PR would they still ask to see proof of funds?
Take a recent bank statement or other documentation showing funds just in case you are asked.
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Old Aug 8th 2015, 11:25 pm
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Default Re: Proving your proof of funds is genuine

Originally Posted by Former Lancastrian


Have you sold your house yet or doing the landing but not establishing a residence.


If your funds are still tied up in the sale of a house and not establishing a residence then that's why CBSA don't become too concerned as those funds are still tied up and CBSA don't accept valuations.

If moving and actually establishing a residence then that's when CBSA may ask for proof of funds and that's where you produce bank statements or account balances. Im guessing quite a few who landed never had to show proof of funds or been asked for it when NOT establishing a residence.

No not sold our house yet. We are landing/activating PR but not establishing residence. So as you said I'm sure CBSA won't go into any depth of investigation at this point. When we do establish residence then we'll deal with it all then. Either by using the sale of our home, or savings.


Thanks for your advice
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Old Aug 9th 2015, 3:05 am
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Default Re: Proving your proof of funds is genuine

Originally Posted by Roberto1980
Suppose we'll just take the valuations, as well as a bank statement just incase..
Just wanted to add that you can't use equity in a house as proof of funds when you come to land - the funds must be 'liquid' at that point. So if you are asked for it, valuations won't count towards the total.

Technically, the proof of funds is the last thing that is checked when you land before you're issued with PR, whether you're establishing a residence or not, so you should have it if asked, but savings will be fine.

HTH, good luck.
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