Balance Sheet required for self employed individuals?

[KapilSharma]

Hi guys, we got an ITA on 28-June-2017 with me as primary applicant.
My wife is a dependent applicant in the profile and she is self employed.

She has her own coaching institute in Mumbai, India operative since 1-April-2015 and it is a partnership firm with PAN, license etc. in place.
She took some unsecured loans from her father's company and started the business.

My questions are:
1. The balance sheet shows these unsecured loans. Will uploading balance sheet in application create any issues because of these loans?
2. Do we, in fact, need to show a balance sheet at all? Can we just show the ITR of the Institute and her personal ITR?

 

[iobajwa]

Hi, I am also self employed (manufacturing) and I am attaching the following docs:
- Partnership deed
- PAN card
- VAT registration certificate
- other relevant certification docs (ISO/TS, CE, etc.)
- a signed and stamped declaration (partner stamp) by self on company letterhead declaring my nature of partnership and my % share, my duties (in brief), work hours (daily and weekly total) that I devote some background about my company, our clients, etc. It also contains an index of all the documents that I have attached. (This is the first document in my work experience document)
- a declaration by my partner on company letterhead declaring the same information as above
- last 6 months bank statement of my company account (bank attested)
- letters from my clients declaring what they purchase from me, with orders, order date, order amount, mode of payment, date of payment, etc. They have also mentioned about my role in the best of their knowledge.
- declaration letter on company letterhead from silent partners enlisting details about working partners.
- bank statement highlighting money received for orders processed (bank attested)
- Income tac returns of last two financial years
- also my declaration contains a note that I am unable to attach more documents because of size restrictions (max 4 mb), but I am willing to share more documents should they be required.

All letterheads must contain full contact information (company address, email, phone number etc.)

The letters must also mention the designations of the individuals signing the letter.

Your company has an unsecured loan, not you, so even if they ask for a balance sheet, I don't think it should be an issue. But this is just my opinion, better consult an immigration lawyer regarding this.

Because of the number of documents required and size limitation, my lawyer has advised me to skip sending the company balance sheet as of now.

 

[KapilSharma]

Hi, I am also self employed (manufacturing) and I am attaching the following docs:
- Partnership deed
- PAN card
- VAT registration certificate
- other relevant certification docs (ISO/TS, CE, etc.)
- a signed and stamped declaration (partner stamp) by self on company letterhead declaring my nature of partnership and my % share, my duties (in brief), work hours (daily and weekly total) that I devote some background about my company, our clients, etc. It also contains an index of all the documents that I have attached. (This is the first document in my work experience document)
- a declaration by my partner on company letterhead declaring the same information as above
- last 6 months bank statement of my company account (bank attested)
- letters from my clients declaring what they purchase from me, with orders, order date, order amount, mode of payment, date of payment, etc. They have also mentioned about my role in the best of their knowledge.
- declaration letter on company letterhead from silent partners enlisting details about working partners.
- bank statement highlighting money received for orders processed (bank attested)
- Income tac returns of last two financial years
- also my declaration contains a note that I am unable to attach more documents because of size restrictions (max 4 mb), but I am willing to share more documents should they be required.

All letterheads must contain full contact information (company address, email, phone number etc.)

The letters must also mention the designations of the individuals signing the letter.

Your company has an unsecured loan, not you, so even if they ask for a balance sheet, I don't think it should be an issue. But this is just my opinion, better consult an immigration lawyer regarding this.

Because of the number of documents required and size limitation, my lawyer has advised me to skip sending the company balance sheet as of now.

Hie, thank you for the detailed reply. Much appreciated.

When was your AOR?
Were you the primary applicant?
Do you think they don't scrutinise dependent work history docs? Since we're not claiming any points for the same.

 

[iobajwa]

I received my ITA on 5th June, 2017

I am single, hence the primary applicant.

If you're not claiming points, then the embassy might not do much background checks but the documents must still be consistent with the claims made in your application. I'd suggest if you have all the necessary documents then why take any chances?

 

[KapilSharma]

I received my ITA on 5th June, 2017

I am single, hence the primary applicant.

If you're not claiming points, then the embassy might not do much background checks but the documents must still be consistent with the claims made in your application. I'd suggest if you have all the necessary documents then why take any chances?

You are right. We shouldn't take any chances. Was just skeptical when i saw the balance sheet in context of PR application.
I guess we'll show the balance sheet and we're not even closing down the company. The other partner will handle it full time. Will provide all othet docs you mentioned. Thank you so much.