Proof of funds in Stocks or Mutual Funds- India

[Kapustka]

I've read multiple conflicting opinions on these forums as well as on the CIC website about this question. Can someone please help?

Extract from CIC link:

How much money should you bring?
It is a good idea to research how much it costs to live in the place where you plan to settle in Canada.

Bring as much money as you can to make moving and finding a home in Canada easier. Note, however, that Canadian customs regulations require you to declare if you are bringing more than CAN$10,000 into Canada. If you do not tell them, you may be fined, and your funds could be seized. These funds could be in the form of:

cash,
documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.), or
documents that guarantee payment of a set amount of money, which are payable to you (such as bankers’ drafts, cheques, travellers’ cheques or money orders.

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I'm planning to apply for a PR thought FSWP with no Canadian experience for a family of 2. I understand that the amount I need to show as PoF is $15500 approx.

What I don't understand is the form that these funds need to be held in - the CIC page clearly mentions that Stocks are permissible. But on the huge Proof of Funds explained thread in this forum, several experienced members have mentioned that Mutual Funds are not accepted as they are prone to swings in value based on the market conditions. However, the same applies for stocks and if anything, mutual funds are less risky in comparison as the risk is spread across multiple equities.

So can someone answer this once and for all - Are Mutual Funds accepted as PoF? Are stocks in portfolio accepted?

If the answer is no, what's the import of the mention of stocks in the CIC page? Is that referring only to the form of funds at time of landing and not at time of PR application?

Thank you!

 

[Kapustka]

Can someone please resolve this query - Raj, Stanlee or any of the vets perhaps...

Thanks in advance.

 

[xpressentry]

Mutual funds and stocks are subject to market risk. You could be a millionaire today and a pauper tomorrow. Therefore, you can't use them. You can liquidate the funds and show those.

 

[Kapustka]

Thank you for responding, but that doesn't really address why CIC lists stocks as an option if they won't be accepted as proof of funds.

If your recommendation is on the basis of predictability of value at the time of evaluation, that can be managed. But as an asset class is there a problem with using Stocks or MFs?

 

[Jonudcastro]

Mutual funds and stocks are subject to market risk. You could be a millionaire today and a pauper tomorrow. Therefore, you can't use them. You can liquidate the funds and show those.

True, but am given to understand that if one has shares, mutual funds or property, it has to be declared on landing. What document do I need to show them in such a case

 

[darwin900]

I've read multiple conflicting opinions on these forums as well as on the CIC website about this question. Can someone please help?


_-----------------------
I'm planning to apply for a PR thought FSWP with no Canadian experience for a family of 2. I understand that the amount I need to show as PoF is $15500 approx.

What I don't understand is the form that these funds need to be held in - the CIC page clearly mentions that Stocks are permissible. But on the huge Proof of Funds explained thread in this forum, several experienced members have mentioned that Mutual Funds are not accepted as they are prone to swings in value based on the market conditions. However, the same applies for stocks and if anything, mutual funds are less risky in comparison as the risk is spread across multiple equities.

So can someone answer this once and for all - Are Mutual Funds accepted as PoF? Are stocks in portfolio accepted?

If the answer is no, what's the import of the mention of stocks in the CIC page? Is that referring only to the form of funds at time of landing and not at time of PR application?

Thank you!

Hey! so did u use mutual funds as PoF when applying?