Seth

Proof of Funds after ITA

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Seth
Posted (edited)

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 😳***

Edited by Seth
Not sure it's posted in the right place.

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poorguy

Take balances of the statements just before you pay for the fees. That way no need for any explanation? They look at the statements as proof of funds...nothing else.

No need to stress, however try buffer for some rand volatility of you can.

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Kitcat
Posted (edited)

I agree with poorguy - print the statements before you pay the fees.

You also don't have to pay all the visa fees upfront. You will pay the processing fee upfront when you submit your documents, but you can usually choose to pay the RPRF at a later stage - so perhaps consider this if it's going to help keep enough savings in your account.

Unfortunately you're not allowed to borrow money to make up your funds - if someone gives you money it has to be a gift deed and you'll need a letter from them to show that you won't be required to pay the money back.

Edited by Kitcat

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Seth

Awesome. Thanks for the advice all!

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