The Proof of Funds
Purpose: To confirm whether the applicant meets the Low Income Cut Off (LICO), as assessed by the amount of money they hold in comparison to the number of people in the applicant’s family
Document Requirements:
- The applicant would need to provide official letters from financial institutions that list:
- All current bank and investment accounts and,
- Outstanding debts from credit cards and loans
- These letters should be official documents printed on the letterhead of the financial institution
- It must contain:
- The applicant’s name
- The financial institution’s contact information i.e. the address, the telephone number and the e-mail address
- The account numbers
- The dates of opening of each of the accounts
- The current balance of each account and,
- The average balance of each account in the past six months
- The authorities might also ask for other documents as necessary
The Individuals who would need to submit this documentation:
- The principal applicant
Source: Citizenship and Immigration
Advertisement
