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Found 3 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 😳***