Proof of funds for ITA and Landing Procedure

Express Entry
1

Should the source of funding and the amount be same for ITA and landing procedure(first entry to Canada as PR)?

I have more than the minimum fund required to be shown for ITA. I was wondering in the meantime until I make my first entry, if I can invests in stocks/ keep the savings as certificate of deposits and show them as proof at first entry instead of current one in a savings account that I have.

2

Recently @vignesh.pr wrote an exhaustive post on Proof of funds. It should answer your queries and then some. Let us know if you have any follow up query

3

As long as they’re over the minimum required, the exact amount doesn’t matter.

4

what is the minimum amount to show?

Thanks

5

thank you very useful. I did not know from EE to ITA it may take up to two months. So it means if you don’t receive any mail you should not give up and wait a bit more. Thank you

6

Check the table on this page for the minimum amount required:
https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/become-candidate/eligibility/proof-funds.html

7

EE profile creation to ITA can take more than 2 months too. It all depends on what your CRS score is and what the cutoffs for the pool are. If you are in the 440s or higher, you would get ITA pretty soon. If you are in the 430s, there is a chance that you will get ITA in a few months but if it is lower than that, it will probably take much longer.

8

Thank you. I scored 500 …I hope for the best!

9

Thank you so much. I read this in the link: Keep your funds up-to-date in your profile.
I was wondering how can I do that? How can I keep it updated?

Thank you

10

I guess there is question in the EE profile asking about how much funds you would be bringing in or something similar. I guess they ask you to keep that updated. I don’t know if it actually matters though. Just make sure that you have at least close to the minimum funds in your account for 6 months so that there are no sudden suspicious big amount transactions showing up.

With a score of 500, you should receive your ITA in the next draw. All the best! :slight_smile:

11

Thank you. Is there a link where I can know which programs I can apply? I have been around websites lookng for it, I only see a mention of it. Thank you

12

Check on canada.ca, official website of the Canadian govt.

13

Hi @mrandmrs
Can we show US CD (Certificate of Deposit) as proof of fund? It has a maturity date so was wondering if CIC would accept it.
Thanks
VI

14

If your maturity date is not too far away, it might be acceptable. If it is too far off then withdrawing early may incur penalties so I am not sure whether CIC would consider them as proof of funds, considering it would need adjustment after penalty. If the CD is just a supplementary proof, it might be okay but if you are showing most of your funds in the CD then it may or may not be acceptable.

@vignesh.pr / @avj - Any thoughts?

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15

I would agree. The key term on the site was access to funds, they way I translate that is, immediate access to funds I.e. liquid funds. Stocks, bones, 401K are all added bonus to the financial profile. Having said this, if you show 80-90% of funds as liquid and remainder in other forms. I think that should be fine.

Also, you could get an assured value as of date. I.e. if you withdraw money today what is the amount that you will get. You could get such a letter which would be sufficient to show the funds you have access to.

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