FUNDS TO BE SHOWN AT THE FIRST LANDING - For PMM/LEON

[gd]

Dear PMM,

I have read many posts on this issue, posted a question, but, still am a bit nervous about this.

In my case, I will be spending only two weeks during the first landing due to restrictions in job and kids education. We are a family of four. The requirement of funds to be shown for a family of four is CAD 20,000+ a little more.

My funds are with HSBC and another bank in Dubai, in UAE Dirhams. HSBC Dubai have no problems in transfering funds between Canada and UAE. I have no problem in getting bank statements showing the funds I have with them.

Will the immigration accept the Bank statements showing the amounts I have in Dubai as proof of funds? This of course will be in addition to the money I bring for the expenses during the two weeks stay (May be CAD 5000)?

2) I also have some investment accounts with offshore companies in the Isle of Man (Eg. Zurich International, Friend Provident International). Are Statements from these accounts (in US Dollars) acceptable to immigration as proof of funds?

Regards


gd

gd

 

[Hindu_Sikh_Bro_Bro]

As long as you can prove the availability of required funds for a family of four from official sources i.e. bank statements, savings certificates, you wouldn't have any problems. You DON'T have to physically carry the money with you to declare it at the time of landing.

 

[babutv2000]

Bank statements is good enough evidence of funds for landing purposes. There is one very recent case posted under trackitt. No need to carry cash or tc's.

 

[IT applicant]

Do we need to show funds necessarily in Canadian Dollars?

In case we have equivalent funds in a foreign bank available,do we need to write a letter explaining the conversion to Canadian dollar

 

[Hindu_Sikh_Bro_Bro]

Do we need to show funds necessarily in Canadian Dollars?

In case we have equivalent funds in a foreign bank available,do we need to write a letter explaining the conversion to Canadian dollar

Listen mate, don't worry about it. No need to write any letters. You'll be surprised how much immigration staff know about currency conversion.

 

[Leon]

CIC actually requests that if it's a foreign account, you provide a letter from the bank stating what amount you have in C$. They have been known to accept foreign bank statements anyway but why take a chance? If somebody at your bank can type up a letter in English for you stating what amount you have in C$, go for it. It took my bank about 15 minutes to do it.

 

[BobbyB]

Do we need to show funds necessarily in Canadian Dollars?

In case we have equivalent funds in a foreign bank available,do we need to write a letter explaining the conversion to Canadian dollar

You guys are just making the whole process look more complicated than it really is.
There is a form called "personal Net worth statement" which you need to fill. (In London @ least ).
It reads: ( I am sure, every other office would have such a form). All you need to do at the initial stage is, be sure , you have the necessary funds ready, as at a later stage you will be asked for a proof before the RRP will be issued.

PERSONAL WORTH STATEMENT

Pursuant to Regulations 76(1)(b) of the Immigration and Refugee Protection Act and Regulations, skilled worker
applicants must possess a minimum amount of funds for settlement in Canada, unless they have arranged
employment in Canada (ie. a validated offer of indeterminate employment by Human Resources and Skills
Development Canada).

The funds must be:

1. Available and transferable;

2. Unencumbered by debts or other obligations.

The amount of funds required is calculated by use of the Low Income Cut-Off (LICO) statistic provided by
Statistics Canada. The amount of funds also varies with family size. Currently, the minimum funds required
are:

# OF FAMILY MEMBERS FUNDS REQUIRED

1 CAD$10,168

2 CAD$12,659

3 CAD$15,563

4 CAD$18,895

5 CAD$21,431

6 CAD$24,170

7 CAD$26,910

Complete the attached personal worth statement. Submit it with all supporting documentation (ie. Bank books,
bank statements, property deeds, etc.)

Please note that subsection 16(1) of the Immigration and Refugee Protection Act requires applicants to “answer
truthfully all questions put to them for the purpose of the examination and must produce a visa and all relevant
evidence and documents that the officer reasonably requires.”

In addition, subsection 40(1)(a) of the Immigration and Refugee Protection Act states that “ a foreign national is
inadmissible for misrepresentation for directly or indirectly misrepresenting or withholding material facts
relating to a relevant matter that induces or could induce an error in the administration of this Act.”
Thank you for your co-operation.

ASSETS

[ 1 ] Current and Savings Accounts [ 2 ] Fixed Deposits

Account Number Amount Maturity Date Amount
(Specify Currency) (Specify Currency)

TOTAL (in Cdn$): Cdn$ TOTAL (in Cdn $) : Cdn$

[ 3 ] Property *
* Current Property evaluations must be provided at interview.

Complete Address Mortgaged? Market Value
YES NO (Specify Currency)

TOTAL (in Cdn $): Cdn$

[ 4 ] Stocks, Shares, Bonds and Trading Commodities (metals, etc.)

Item Quantity Value Value
(Specify Currency) (in Cdn $)

TOTAL (in Cdn$) : Cdn$

LIABILITIES

[ 5 ] Mortgages

Complete Address Mortgaged Amount
(Specify Currency)

TOTAL (in Cdn $) : Cdn$

[ 6 ] Personal Debts, Legal Obligations* and Other Liabilities
* Legal obligations refer to any contract or court order requiring payment of any kind (e.g. alimony, child support, etc.)

Nature of Obligation Amount
(Specify Currency)

TOTAL (in Cdn$) : Cdn$

====================================================

A. Assets : [total of (1) + (2) + (3) + (4)] _________________________________________________

B. Less Liabilities : [total of (5) + (6)] ___________________________________________________

Equals Net Personal Worth _________________________________________________________

====================================================

Exchange Rate Used : Cdn $1 = __________

====================================================

I certify that the above is a complete and true statement of my personal worth.

Date : ____________________ Signature : ______________________


Value of All Assets Already in Canada

Funds to Accompany

Assets to be Transferred Later

TOTAL (in Cdn $) : Cdn$

__________________________________

Signature / Date




Hope this helps?

 

[Abhishek12]

Hello BobbyB,

Kindly let me know link where we have this form 'personal Net worth statement'.

Thanks,
Abhishek

 

[babutv2000]

Not all cic instructions include personal networth statement. Mine did not ask for one. Besides the topic refers to proof of funds to show at the time of landing.

 

[BobbyB]

Not all cic instructions include personal networth statement. Mine did not ask for one. Besides the topic refers to proof of funds to show at the time of landing.

Will the immigration accept the Bank statements showing the amounts I have in Dubai as proof of funds? This of course will be in addition to the money I bring for the expenses during the two weeks stay (May be CAD 5000)?

2) I also have some investment accounts with offshore companies in the Isle of Man (Eg. Zurich International, Friend Provident International). Are Statements from these accounts (in US Dollars) acceptable to immigration as proof of funds?

 

[Abhishek12]

Hello BobbyB,

Kindly let me know link where we have this form 'personal Net worth statement'.

Thanks,
Abhishek

BobbyB,

I am still waiting for your reply.

 

[BobbyB]

Hello BobbyB,

Kindly let me know link where we have this form 'personal Net worth statement'.

Thanks,
Abhishek

BobbyB,

I am still waiting for your reply.

Abishek, This is the link. However, note that this is for the London office and also that, it seems, this is applicable only to people who applied via the Simplified Process. So check your country specific website.
http://www.international.gc.ca/about-a_propos/results-resultats.aspx?cx=007661858624964228382%3Az2cu4sbyz3i&cof=FORID%3A11%3BNB%3A1&ie=UTF-8&ie=ISO-8859-1&oe=ISO-8859-1&q=PERSONAL+WORTH+STATEMENT+&sa=Search#1419