You are right. In fact the reason why I wanna do that on my own is to put the money in my business instead of paying a consultant. I know I need to have it assessed by a certified agancy, but I am not sure whether it is acceptable by IRCC or not?
SUV Work Permit Granted
- Thread starter hmblaster
- Start date
My bad. The funds must be liquid and in your bank.
"Funds must be readily available to you. For example, you can't use equity on real property as proof of settlement funds."
https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/documents/proof-funds.html
You are probably right. Actually my problem is exactly about that. In the link below they say it can as cash , or property and capital payable to you. My problem is I really don’t know what exactly the mean by “property or capital payable to you” . The word “property” can be considered as real property or not?
https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/start-visa/work-permits.html#6.2
I see your confusion. If you have the proof of the the items mentioned below, they're in a way convertible to immediate cash. Specially bullet #1. Bullet # is still cash on hand. So when they say property, it's still a property which could be immediately converted to cash when you arrive and if the officer can verify that, it's a legit proof.
- documents that show property or capital payable to you, such as:
- stocks
- bonds
- debentures
- treasury bills
- documents that guarantee payment of a set amount of money, which are payable to you, such as:
- banker's drafts
- cheques
- travellers’ cheques
- money orders)
I really appreciate your response. Accordingly, the only way is I sell my real state and turn it to cash in my account and provide the sell document to explain the big deposit on my account.
I deposit the amount needed for PR in my account ( around 20 grand). but because of the economic situation it is mot reasonable to keep a huge amount of money in cash. Yet, I have no choice but to do that apparently.
Is it possible to borrow for a short time and generate the statement? When you have your PR approved and ready to settle, you may then sell your property. Note that it'll take about 2.5 years for the PR and about 3-6 months for the WP as per the current situations. You have to play safe as you have to think about your family too. I mean decide wisely by thinking what's the right move for you.
You are right. It is my big concern. I can borrow that, but we should have a legit reason for a significant money transfer to my account. That is the problem. I should take steps wisely. Thank you for your response and guid. It is very heartwarming that I was able to have this kind of conversation with you. Since I have done all things in this path on my own. Really appreciated
One last thing, the guide says, you have to justify when you arrive. You'll anyhow be able to justify when you arrive to Canada after your PR and it'll be a big deposit if you are selling your property.
Ac
Actually you may be right. The 6 month average and statement are requirements for PR application. I have not seen any where in work permit guideline that it says we should provide 6 month average, unlike the PR. I f I provided only the current balance of my account, it wouldn’t show the big deposit. It should be work, right?
As long as the total is >= the required by the guidelines, it should be ok. I would also suggest file PR and WP concurrently so you can use the same statement which is recent for both applications. If you file PR application later on, you have to re-do the same process of showing required funds.
I think so, based on the guideline. I really appreciate. I hope get back to this page with good news on my case. I need to move over that and put my energy on my startup and the incubator’s program.
Congratulations
I have applied in July 2021 from India so can you please share your location