What is Proof of Funds (PoF)?
Proof of fund means financial evidence in custody, security, or bank statement proving that an individual can cover expenses for a period. PoF is a document with details of sufficient funds required for a specific task, like covering education expenses.
Without PoF, you may not receive a student visa and study permit in a foreign country. While you can get this financial proof from a commercial bank, we recommend that you follow the legal procedure to obtain your PoF.
If you submit a fraudulent PoF to a Consulate, you can lose your student visa or get banned from the country.
The document is typically presented in the form of a bank statement and the purpose is to ensure that the funds required to complete the transaction are both accessible and legitimate.
In the case of a POF for visa application, you must demonstrate that you have sufficient funds to cover, for example, your course fees and living expenses if you are travelling for study, work, vacation, or for any other reason. This is asides from the amount you would have paid for a visa application and the full or partial tuition fees of the university you have enrolled in if it’s a student visa application.
People applying for some visa categories are required to submit such financial documents to show that they meet the financial requirement.
In the case of Canada and other countries, for instance, the funds must be readily available to you, plus you cannot use the equity on real property as proof of settlement funds.
You can get the POF services needed for individual, family, study or tourist visas and relocation.
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