Expert opinion required.. Bank Statement + Assets?

[Sarmad.abbasi]

Hello every one..

My employer is financing my studies and I am applying for the ACCA course in Stoufville College.

I want to know what is the amount of Balance required in the Bank Statement. Unfortunately we dont have enough balance in the company's Bank statement currently because of the business downfall. However we have millions of assets that we can prove. Is it advisable to attach the copy of assets we have with the Bank statement or I should wait till we have the required balance in the Bank statement?

Thanks

 

[Sarmad.abbasi]

Can any one reply on this please?

 

[piratesparade]

U shoulda wait for da statement or show something in liquid .

 

[Obeid_oo]

Hello every one..

My employer is financing my studies and I am applying for the ACCA course in Stoufville College.

I want to know what is the amount of Balance required in the Bank Statement. Unfortunately we dont have enough balance in the company's Bank statement currently because of the business downfall. However we have millions of assets that we can prove. Is it advisable to attach the copy of assets we have with the Bank statement or I should wait till we have the required balance in the Bank statement?

Thanks

HI

no asset showing , only liquid funds.

 

[Sarmad.abbasi]

@ Obeid_00

So the balance should be maintained for atleast 4 months or it all depends on the closing balance?

 

[GS_Stud]

@ Obeid_00

So the balance should be maintained for atleast 4 months or it all depends on the closing balance?

Hi Sarmad,

Few weeks back I attended a seminar by CHC New Delhi where one of the participants asked this question to the Visa Officer (they were the speaker). They said that although they prefer to have the funds for over 4 months however they understand that it might not be possible (especially for business man) to keep this funds for 4 or more months. When they assess the financial condition of the candidate, they assess many things such as: funds coming in-out of the account for a time, liquid funds at the time of application, IT return, Salary slips for past 6 months etc and make an "overall assessment" of the financial condition.

4 month is not the only criteria though it is always better to have the funds in account to show financial stability.

It is up to you to decide whether to wait for 4 months or submit right away. Best of luck for your application.

Thanks,
GS

 

[Obeid_oo]

@ Obeid_00

So the balance should be maintained for atleast 4 months or it all depends on the closing balance?

Hi Sarmad

it's not necessary that the funds have to be in bank for 4 months. In some cases it's not possible to get that much amount at one time and deposit it in bank.

A normal bank statement shows deposits and withdrawals . If deposits are more and withdrawals are less then it's a positive sign.

if deposits are less and withdrawals are more then one needs to wait preferably a month.

You don't really have to wait 4 long months ,

Some people don't have the habit of withdrawing money from the bank unless it's really required like in the case of funding one's children

or If the person spends from his earnings rather than savings, so each case is different.

There is not one single area on the CIC website where it says literally "maintain money in your bank for 4 months"

if your closing balance is double the amount you need for studying or at least equal / slightly below the deposits needed to study then you

do not need to wait.

 

[Sarmad.abbasi]

Thank you CS_Stud & Obeid_oo for resolving my query.Really appreciate your co-operation