David_C said:
Hello everyone,
Please advice regarding the Proof of Funds. It states that for two persons you need to have in your account 13.837 CAD. I don't have this money.
I have an apartament that is worth more then 50.000 CAD. Can I replace the 13.837 CAD required, with my apartment ?
If not, how did you got the money required ? Familly, friends, bank ?
Thank you,
Based on the program rules, the proof of funds must be in the form of liquid assets, meaning cash ,bank deposit either in savings, check or time deposit accounts, shares of stocks, treasury bills,debentures or any financial paper that you can easily convert to cash when you get in need of money after you land in Canada.
The proof of funds is required not only when you apply but also when you enter Canada after you are awarded the visa. You may borrow money and deposit the amount in a bank under your name for the purpose of meeting application requirements. But still you must have money of your own that you can bring and show at airport of entry in Canada. The rules specifically state that applicants must not borrow money. However, the amount that they require to my mind is so big that not all applicants can raise them immediately.Hence, personally I think, borrowing is a very realistic and practical option provided of course you are capable of paying the amount when it becomes due.