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Found 13 results

  1. Thermisto

    Proof of Funds advice

    Hey guys, I've been silently following this forum since we first decided to go over a year ago. In July my wife and I got our Invitation to Apply in the Federal Skilled Workers class. Most of our paperwork is finished and uploaded but proof of funds seems to be a lot more vague. It's difficult to find examples because obviously nobody wants to share their finances. We have enough funds in our bank accounts and an investment account. She's the main applicant. So if anyone has any advice on any of the following points it'd help a lot: What format did you use? Did you have a cover letter breaking down your finances? What should I say? How much detail should I go into? Should I make a table of all our accounts for the last 6 months? Did you include any other pages other than a cover letter, proof of funds letter, and 6 months statements? Regarding our bank accounts, are eStatements fine or should I get stamped statements? For our investment account are quarterly statements fine? We've visited 2 ABSA branches and one manager straight up told us they don't do proof of fund letters. What should we do? Am I missing something? Everything has gone very smoothly up until now and I'm worried I mess this up.
  2. AntoinetteG

    Proof of Funds

    Hi Everyone I have been making steady progress with the whole application process...until...the dreaded proof of funds came up. (Side note: I haven’t yet created my EE profile as I need to sort out PoF first)... I was planning on using my RA’s and Pension Fund (Sanlam and Discovery) as PoF, as this is well over the required amount and selling my property won’t make up the amount. After a consultation with Deanne (Canada Abroad) I was told that although I can use my RA and Pension Fund (no problem there), the money would need to be in my account when I leave RSA, and not after landing (which makes sense). My understanding of Financial Emigration however is that it can only happen once I am in Canada? Has anyone had any success in getting money out of RA’s and a Pension Fund BEFORE leaving RSA and used the money as PoF? I am totally stuck, and my broker is unable to help me...I have now been told to find out for myself from Sanlam and Discovery as they keep on telling my broker I need to do financial emigration first...and the broker can’t help me further, mainly because the message just gets relayed. Any ideas? Help? I would really appreciate it! Thanks in advance!
  3. Seth

    Proof of Funds after ITA

    Hey all, So we received our ITA not two weeks ago (YAY!!), and basically everything is ready to go - Medicals, SAPS clearance, Reference letters etc. One issue... So I'm aware there is the minimum $16 000.00 that we need to have (My wife and I). We currently have the $16 000 in my savings account - problem is, when we submit we need to pay the application fee $2250, (R24 000) which then takes it below that threshold. We both keep our jobs, so salaries are going to be saved, and we do have a car that is fully paid off that we intend to sell, but it's not going to happen now, as we still need it to get around here until, hopefully, we get our PR. So what should we do? Try to sell everything as fast as possible or borrow money or can we write a letter that states our incomes, valuation of the car and planned savings for the next 6 months or...? Any advice? ***PS: Not sure if I posted this in the right place, sorry if it's not 😳***
  4. Daleen Claassen

    Proof of funds

    Good day, Can you use your company retirement fund document as proof of funds? Or can you only use that after you have left the company? Kind regards, Daleen Claassen
  5. Conrada

    ZAR Depreciation

    Hey Everyone, I quickly tried to see if this has been covered in another thread but I couldn't fine one. I was wondering how sudden depreciation in the Rand influences our Proof of Funds? Since my application was submitted the Rand depreciated something like 13% against the CAD (in 2-3 months). I'm applying solo and had a $2000 (CAD) cushion to get me through the application process, but that cushion is getting smaller and smaller. If the Rand drops any further before they get to my application then the real value of my money in CAD will be lower than the requirement. I assume they will look at the current value of your capital and not what it was when you submitted? Should I resubmit a new proof of funds amendment with updated figures of what I saved in the last couple of months? Thanks for the input!
  6. tanchett

    Landing in Toronto: July 2018

    Hi everyone We landed in Toronto on Thursday and I wanted to share our experience with you before I forget anything. I’m typing this on my phone so it may be structured weirdly - apologies for that. We will be here for a week, after which we’ll head home to tie up all loose ends before heading back. We flew SAA to New York, where we spent a few days before flying AirCanada to Toronto. This didn’t add any extra admin to our trip and we weren’t asked anything about Canada when entering or leaving New York. Planning: Based on everything we read here and on Facebook, we carried the following with us: - Proof of funds (We used my provident fund as our proof of funds when we did our application. Because we are returning back to SA after this trip, I have not yet resigned and none of that money is available to me yet. For proof of funds, we carried copies of the tables and calculations we used for our initial application, and updated tables to reflect June dates). - Unabridged birth certificates for myself, my husband and my son (we were asked for my son’s in SA a few times but otherwise, none of these were asked for) - A detailed goods to follow and goods accompanying list. We did two separate lists in excel and brought three copies of each. The lists included the serial numbers for all electronic devices and approximate values in CAD for everything. Arrival: After landing, there are two lines available for you to join. One is for ‘Canadian and US passport holders and Permanent Residents’ and the other is for ‘All other passport holders’. We were directed to the ‘All other passport holders’ line. As the line is quite long, it took us about 25mins to get to a counter. The guy at the counter was approachable enough and immediately warmed up to us once he saw our COPR papers. He asked why we chose Canada, whether we’d visited before and then spent some time telling us all about the infamous Canadian winter. All in all, this was a quick and painless first stop. We were then directed to the Immigration section. Our flight arrived at 7am - I’m not sure if it was because of the early hour, but the line at immigration was very long. We spent about 40mins waiting in line before getting to a counter. From watching others at the counters while in line it’s clear that your experience is dependent on the immigration officer you get on the day. We were super lucky to be assisted by a really friendly lady. She checked our papers, asked for a Canadian address (we provided a friend’s) and asked how much money we have in cash. That was the extent of her questions. She didn’t ask anything about whether we’re going back to SA this trip, our goods to follow or our proof of funds. That being said, I’ve read many landing stories of people who have been asked these things, so it’s best to be prepared. We were ready to indicate that this was just an activation trip if we were asked, but no one did. We waited about ten minutes for her to process our documents and were then directed to the section for SIN numbers, a short walk away. As she said goodbye, she wished us luck and said ‘Welcome to Canada’ - it was at that point that it began to really sink in for us - after all this time, we were finally here. On the way to the SIN section we had to stop at a desk where we were handed a booklet with helpful info for newcomers. The two people at this desk were also very friendly and welcoming. At the SIN section, we had to fill out two short forms for my husband and I asking for our names, our parent’s names and surnames (both mother and father) and our address in Canada. There was no line here and we were helped almost immediately. The guy helping us was very helpful, gave us lots of advice and welcomed us to our new home. We received our SIN numbers within about ten minutes and then headed off to the baggage claim area to collect our bags. Once we had our bags, we had to head through customs. Here, we were asked for our goods to follow list. We were told that the goods accompanying list isn’t needed. We weren’t asked any questions about our lists - the guy glanced at them, filled in a form and within a few minutes, we were done. Because the immigration section was quite busy, I’d say the whole process took us about two hours. We’re now taking in all Toronto has to offer and loving every minute of it. Everyone we’ve met has been super friendly and we can’t wait to start our lives here. I hope this info helps anyone arriving soon🇨🇦🇨🇦
  7. Liz88

    Proof of Funds - STUDY VISA

    I'd like to hear from people who have successfully applied for and received their study visa. Or anyone that can give me ideas on other ways to prove POF Proof of Funds: The current requirement is my full tuition plus $20,000 extra. Other than the bank statements, did any of you use your pension fund / provident fund statements as additional proof of income. As I understand using the house isn't wise as I'm keeping it for intent to return. Any other ideas for POF in order to make the application stronger?
  8. Painter lady

    Advice needed from recent applicants

    Can someone who recently submitted their application please help me out here?! Please share, how exactly did you show the balances of ALL your account for six months? What exactly did you ask the bank to do for you? If you bank with ABSA and have a contact of someone who knows how to do this, even better! After a whole day of uploading documents, we feel a bit overwhelmed at this stage.
  9. MargueriteE

    Using retirement annuity as pof

    Hi all. We are newbies, only added to the Express entry pool earlier this week. A while ago I saw a few posts on using retirement annuity as proof of funds. Was anyone successful in this process. I don't want to apply and get rejected by having incorrect or insufficient documents.
  10. Hi all, Our PR has been approved, we have our passports back with all visas and paperwork, and we're just tying up loose ends before moving to Canada. That doesn't mean that the worrying is over though, so I need advise from the collective once again... We used a bank account as proof of funds when applying for PR. The money is still sitting in that account, but I'm having timing issues with my cash flow that is complicating things. So my questions are: 1. I am the main applicant for PR and will be entering Canada around 5 weeks before my husband and the dogs. If I leave the cash that I currently have in my bank account and use this as proof of funds to activate my PR, can I start using it after entering Canada? Or does it have to stay there until hubby enters? I guess what I want to know is if my hubby also has to show proof of funds upon entry? 2. I can't really leave the cash alone until I enter Canada as I need it to stay afloat for the last couple of months in SA (neither hubby or me are working right now ?)... HOWEVER, or house has been sold last week. We have the signed sales agreement and we're just waiting for the buyer's bond to be approved. The transfer date is only after we'll both be in Canada though, so I can't wait for the sales proceeds but will have it two weeks after hubby arrives. Do you think it would be safe to use some of the 'Canada cash' once we know that their bond has been approved, and then use the sales agreement and bond approval as proof of funds when I activate my PR? Proof of funds is my biggest headache in this whole process, I would be very grateful for any advise.
  11. LaurenW

    Proof of Funds - Lawyers Trust

    Hi All, So we are expecting to get an ITA in the next draw or at least in the next month or so as we are on 467 points. We have sold our house but are unsure if transfer will have gone through before the 60 days is up on an ITA if we get one. Does anybody have experience using an letter from the lawyers, bank statements and offer to purchase agreement showing the deposit (double the required proof of funds) already paid over to lawyers as a proof of funds? Other than the bond we have no debt... TIA Lauren
  12. Onyx

    Advice for Proof of Funds

    I'm sitting with a dilemma and want to know if anyone has some pearls of wisdom to share. I received an ITA on 13 Jan and am now in the process of putting together all of the documents and I've hit a snag in the Proof of Funds department. This is a bit of a long story. To explain: In October, I had 99% of the proof of funds and the rest was coming in in time for the application from my earnings. 2/3 was in a Unit trust account and the rest was in a 24hr Call account. So all perfectly acceptable by the CIC, to my understanding. Then the Rand took that massive blow, and the amount you needed just went up. Now with all my sums, I'm more or less 35k down from the total I once needed. So, in order to still qualify, I have to up the amount of money I had really quickly. I have the money I need in a few places, but I either have to call in a loan repayment (my parents owe me a fairly large sum of money), or I have to do a cash deposit. Either way, there is going to a lump sum suddenly entering my account. Now, I know CIC doesn't like lump sums, but is there any way that I can get around this? I was reading up everywhere and apparently if the Proof of Funds is accompanied by an Affidavit stating where the lump sum came from, then it's okay? I've also read up about a Letter of Explanation? Could you somehow explain it in there where it all comes from? If so what documents would need to accompany the letter? Has anyone had this problem with a lump sum being unavoidable and if so, what did you do to get around it? This is partially directed to people who sold items they owned to close the new, sudden gap that has appeared. I have things I can sell fairly quickly, but how do you prove you sold them and that is where the money is coming from?
  13. Hi guys There's been a change to the figures on the settlement funds requirement. Please make sure your EE profiles have the "correct" amounts. As at January 12, 2016 Single - $12,164 Family of 2 - $15,143 Family of 3 - $18,617 Family of 4 - $22,603 Family of 5 - $25,636 Family of 6 - $28,913 Family of 7 - $32,191