How to Circumvent the Proof of Fund

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opinion/information expressed in this report. Reader’s discretion advised!

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Introduction

Proof of fund is almost the biggest setback that intending Canada

immigrant faces simply because they do not have the money to show and

they do not have a way around it.

Proof of fund is a big deal to Canada immigration!

Canada wants you to come with enough money to allow you settle easily

even though they have several perks and social security to make life easy

for you.

But before you start enjoying all that Canada has to offer, you are

required to have a sustainability funds,

And that is what is required in form of proof of fund.

The only time you wouldn’t need proof of fund is,

1. If you have a valid job offer from a Canadian employer or

2. You are coming in through the experience class.

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3. You have a full funding scholarship for your study

Getting a job offer in Canada from your home country is quite difficult

Almost impossible! But if you do have it you wouldn’t need worry over

proof of fund and that will also shoot up your CRS score and increase your

PR chances.

Meanwhile, the experience class VISA requires that you already have one

year full time (or its equivalent) skilled work experience in Canada…

That said,

So how much is required for proof of fund?

The sum actually varies depending on family size,

See tables below:

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For Permanent Residency

For Study Permit

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Well, I agree the sums are not such a big money yet I understand it could

be a biggie for certain people – fingers are not equal!

But we both can agree that the cost required is way cheaper than that of

Grenada where you need almost 10X of these sums.

In this report,

I am going to be talking about every important things you need to know

about the POF and I am going to introduce you to simple but smart ways

to get around it and be able to fulfill your Canada dream

Over to the next page

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 When you need POF

Many times applicants get worked up over proof of fund that they forget

to even start the process in the first place.

The first thing to do if you are planning to relocate to Canada and you

have the requirement is to start the process by entering the pool via IRCC

(see blueprint for detail)

You will only need POF after you have gotten your invitation to apply

(ITA).

To get an ITA from when you start the process can take months so it is

best that you start off the process first even if you don’t have the money

yet.

The first thing is to have high enough CRS score that could earn you an

ITA.

Once you are sure to expect an ITA, you can then begin to work on

getting a proof of fund.

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After the ITA is when you will be required to supply information such as

medical report, birth certificate, proof of fund letter from bank etc.

For study permit seekers however, you’ll need proof of fund only after

you have secured an admission and you are applying for your study permit

So the first thing to get going is to start researching and applying to

institutions that best suit you (see ‘Canada without IELTS: The Guide’)

Don’t let the thought of POF scare you from getting started with the

process, you can even land yourself full funding scholarship (see ‘how to

get scholarship to study in Canada’) and as such, you won’t be needing to

worry over having a huge money in your bank account

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 Acceptable POF

There are several opinions about what is acceptable as POF and what is

not but base on personal experience, cash-able bank sum is mostly used

By cash-able bank sum I mean,

The amount of money that is readily available in your bank account –

whether as a regular savings or fixed deposit.

If you have the required sum, great! You only need to get a bank

statement accompanied with a letter from the bank to submit as proof of

fund.

See letter format below

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The good thing is,

Most banks already know what to do once you tell them you need bank

account summary letter for Canada immigration purpose.

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NB: The immigration authority does not expect you to loan the money, you

are expected to own it.

However, if you don’t personally have the money, there are three smart

ways to go about it

1. Get a loan and keep it in your bank

People (many people) do this but you have to be smart with it. You don’t

want to show a sudden bulk sum as proof of fund as that will raise

suspicion and trump your chances.

What you have to do is to deposit the money in tranches into a different

bank account in a way that makes it look like a natural

earning/flow/income.

There are also some companies that help with depositing the needed

money in your account (at a fee) and one of them that I know of is

LeapSail

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You can reach leapsail via Instagram @leapsail

2. Take advantage of Gift deed

The other option to get around POF is to get someone to gift you the sum

required.

If this is done, you will only have to do a gift deed document and submit

alongside with your bank statement.

You can easily get a notary to help you prepare gift deed document.

Make sure you mentioned the exact amount transferred, account

number, account holders name, bank name and address of the person

who is gifting you the money.

For check, include check number and date accurately.

If you have a lump sum transferred to your account say from your father

and you use the bank balance without accompanying it with a gift deed,

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your application will be denied even though you meet required bank

balance.

Sudden lump sum is frowned at by the immigration authority.

The gift deed is a legal document that certifies that the money is gifted to

you (and not borrowed) such that you now have full obligation to use the

money the way you want.

3. Scholarship Letters

If you have been given a scholarship, great!

You should attach the scholarship letter as evidence of financial capacity.

This letter is often provided by the University or Institution that grants the

scholarship.

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4. Affidavit of Support/ Sponsorship

This is also a notarized document (duly stamped) that validates that

someone (parent, spouse, relative) is sponsoring your study and living

expenses in Canada

The document will be provided alongside a financial proof document

The signed document directly binds the sponsoring person to accept all

financial responsibility for the cost of your studying.

Regardless who the person sponsoring you is, the document should

clearly mention the reason why they are sponsoring you

You can engage the service of a notary to get this affidavit done

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4. Get a bank insider to help you with POF

This is widely used by Nigerians but it is hard to come by for most

immigrants!

…Because, no bank insider will come calling out your name to come and

get things done except if your path crossed.

What you need for the POF are

1. Bank statement that shows balance over a six (6) month period and

2. A letter from same bank as shown in page 6

People pay as much as N600,000 to bank insiders to get these documents

even if they do not have close to the amount required.

And as such they scale through the hurdle of “Proof of fund” and get

their PR VISA approved!

Truth is, you don’t necessarily need the thousands of dollars required by

the Canadian government as settlement fund to settle well in Canada

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You only need like a quarter of it to survive your early days.

Things will naturally ease out as soon as you start enjoying some of the

benefit of your PR or studentship.

If you think your Canada dream is worth fighting for and you are not

going to let POF stop you, I have something for you…

I will be introducing you to a bank insider that can help you with your POF

need – just about any amount you want your bank statement to show

Regardless if you have a family of seven and needing a bank balance in

excess of N12,000,000 or just only you needing a bank balance in excess

of N4,000,000.

This man got you… And you only pay a little of N200,000 to have this

done for you.

If interested, send a mail as below to contact@pathwaysng.com

Subject: I need the POF

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Content: Kindly avail me the contact of the bank insider, I need to work

with him.

NB: Make sure you have gotten ITA or an admission before you reach out for

this (that is if you need it)

I wish you all the best

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