Express Entry candidates need to update the figures of their settlement funds
The updated figures need to be filled in by candidates belonging to the category of FSTP, and FSWP without a job offer.
Whereas candidates without a job offer from the above 2 categories and CEC do not need to update.
Candidates from FSTP and FSWP categories with no job offer must follow the below-mentioned requirement
- Candidates have time till 8th June to submit the updated figures
- Updating the figures will not change the time and date of submission of the profile
The IRCC will impose a tie-break rule, under which the least scoring candidates will also be offered invitations only if their profiles are submitted before the closing dates.
The applicants need to have the updated figures of funds while applying as well as when they receive the Canadian permanent resident visa.
The applicant needs to convince the immigration officer to access the funds when they arrive in Canada.
The applicant needs to be in a position to bear the expenses of their family even if they are not accompanied to Canada.
Applicants coming to Canada with their partners can consider their joint account deposits as a whole.
Although the candidate needs to demonstrate with proof to access the personal account of their spouse.
Applicants are not allowed to borrow money from anyone. They also cannot utilize estate property to show in place of funds.
Documents that IRCC accepts for proof of funds
- Applicants are required to submit valid letters from the bank or financial institutions under which they had deposited their funds.
The IRCC looks for the following things in the official letter of banks
- The letter should be written on the official letterhead of the bank, with contact details mentioned.
- It should contain the name of the applicant, and all the details regarding credits, and loans.
- It should also contain the relevant figures for the average account balance within the last 6 months, the current amount their account holds, etc.
A restart of FSTP, and FSWP applications
The Canadian Government will promptly open Express Entry categories like FSWP, and CEC from the early days of July.
The above categories were closed last year.
The Canadian Government has decided to shorten the gap between the ideal processing time and the actual processing time. The Canadian Government is determined in achieving this goal by the year-end.
