An evidence to prove you are financially independent
Proof of Funds:
You will need to prove to CIC that you have enough money when you apply to immigrate. This money cannot be borrowed from another person. This money should be available for you to pay the costs of living for your family. All applicants must meet the settlement funds requirement
Proof of funds are required to support yourself in Canada during your first month of stay in Canada in other terms uttered as Show money or proof of funds
Note:
- Profiles with valid LMIA job offer does not require Proof of funds.
- If you qualify under CEC stream proof of funds if not necessary
| Number of family members | Funds Required in CAD $ |
|---|---|
| 1 | 12,960 |
| 2 | 16,135 |
| 3 | 19,836 |
| 4 | 24,083 |
| 5 | 27,315 |
| 6 | 30,806 |
| 7 | 34,299 |
Proof of funds is something like a financial statement which should be shown if a person wants to become a permanent resident. In other words, one should show that they have enough money to get and settle as a permanent residence.
NO, A person cannot borrow money from any other person to show as Proof of Funds. But their parents or spouse can support them over proof of funds like a gift deed.
Yes, Proof of Funds is mandatory to show when a person is planning to settle in Canada.
Yes, a bank statement is needed.
No, IT returns do not need to be shown for proof of funds.
No, form-16 is also not needed to be shown for proof of funds.
Yes, the amount can be in a Provident Fund account for proof of funds.
Yes, the amount can be shown in a Fixed Deposit account for proof of funds.
No, only funds in account can be shown as proof of funds, Assets like land or jewels are not acceptable.
Yes, parents can support proof of funds but where it should be like a gift deed to the person who wants a permanent residence.
Even though the spouse is not accompanying the primary applicant the fund required is 16,135.
Yes, we are supposed to show proof of funds for the kid.
If one has a job offer and who comes under CEC stream proof of funds is not required.
Proof of Funds is to show that they have enough funds to support themselves to settle as a permanent residence.
No, Proof of Funds must be shown as funds in a bank account.
No, one cannot collect the funds from anyone.
No, one can show only funds as proof of funds.
No, Proof of Funds should be shown in the primary applicant bank account only.
Until one reaches Canada and gets a job.
No, unless one has a job offer proof of funds is not needed.
Minimum of 6 months of bank statements is required for proof of funds.
No, proof of funds can be shown only in savings account.
Yes, but it's preferable to be in the primary’s account.
10,000 CAD Dollars.
10,000 CAD Dollars.
Disclaimer : Greentree Immigration Service private limited is not a recruitment or placement agency we do not assure any type of job and employment offers also any domestic/international placements
Newsletter signup
By subscribing to our mailing list you will always be update with the latest news
Affiliates
© 2020 greentree All Rights Reserved