Funds

[tashford]

What happens if i say in my application the at I have the minimum requirement for the funds but i send in no proof at this time. Will it still be processed? etc......

 

[Cappuccino]

What happens if i say in my application the at I have the minimum requirement for the funds but i send in no proof at this time. Will it still be processed? etc......

Your application will be returned as incomplete.

And if you have the funds why would you possibly not want to include the proof?
If you don't have the funds you would be committing fraud by lying about it.

Wayne.

 

[tashford]

Ok sorry you must of miss understood my question, I wasn't asking whether I could commit fraud, I have assets totaling over the minimum required amount but not liquid funds in my bank account. Obviously I would sell these assets car etc... before moving to Canada so I will have the cash.
I cant sell everything and wait 12-18 months for my application to be approved.

What should I do?

 

[Cappuccino]

Ok sorry you must of miss understood my question, I wasn't asking whether I could commit fraud, I have assets totaling over the minimum required amount but not liquid funds in my bank account. Obviously I would sell these assets car etc... before moving to Canada so I will have the cash.
I cant sell everything and wait 12-18 months for my application to be approved.

What should I do?

Regrettably you still do not have sufficient funds. CIC, understandably, won't recognize assets such as car etc because their value can change dramatically and also you have no guarantee that you can liquidate the funds for when you move over to Canada. How can you possibly know how much you will be able to liquidate those assets for in 12-18 months' time?

If you hold equity in property you may be able to use this, but it is accepted only at certain visa offices (London UK being one of them) so I'd advise you to check with the individual visa office you intend to apply through before including this as proof of funds.


If you still do not have adequate funds then apart from saving up the money and applying when you have enough, there is another alternative for you. If you can secure a job offer with a Canadian employer you can apply under Category 2, or PNP, in which case settlement funds are not required. You also get a boost to the points you score in the points matrix (I believe 10 points for the job offer + another 5 for adaptability).

Therefore this is a completely legal option for applying without settlement funds, and you have the added security of having a job in Canada when you settle.

Of course, it will involve more work, time and dedication.

Best of luck,
Wayne.

 

[mosharafbabu]

Regrettably you still do not have sufficient funds. CIC, understandably, won't recognize assets such as car etc because their value can change dramatically and also you have no guarantee that you can liquidate the funds for when you move over to Canada. How can you possibly know how much you will be able to liquidate those assets for in 12-18 months' time?

If you hold equity in property you may be able to use this, but it is accepted only at certain visa offices (London UK being one of them) so I'd advise you to check with the individual visa office you intend to apply through before including this as proof of funds.


If you still do not have adequate funds then apart from saving up the money and applying when you have enough, there is another alternative for you. If you can secure a job offer with a Canadian employer you can apply under Category 2, or PNP, in which case settlement funds are not required. You also get a boost to the points you score in the points matrix (I believe 10 points for the job offer + another 5 for adaptability).

Therefore this is a completely legal option for applying without settlement funds, and you have the added security of having a job in Canada when you settle.

Of course, it will involve more work, time and dedication.

Best of luck,
Wayne.

I have available amount at my bank that equivalent CAD $ 5500 but I have an apartment thats market value now equivalent CAD $ 32000.

I wish to know that for available cash i need a bank certificate or bank statement ??

if I submit notarized copy of deed of my apartment along with a notarized declaration of market value of my apartment and a self declaration at Govt. stamp that if I move to canada then I will sell that apartment & bring necessary with me as per CIC guideline This is best that I can do..

Requesting true advice ..

 

[Vats]

What happens if i say in my application the at I have the minimum requirement for the funds but i send in no proof at this time. Will it still be processed? etc......

It will returned stating incomplete

 

[Vats]

I have available amount at my bank that equivalent CAD $ 5500 but I have an apartment thats market value now equivalent CAD $ 32000.

I wish to know that for available cash i need a bank certificate or bank statement ??

if I submit notarized copy of deed of my apartment along with a notarized declaration of market value of my apartment and a self declaration at Govt. stamp that if I move to canada then I will sell that apartment & bring necessary with me as per CIC guideline This is best that I can do..

Requesting true advice ..

Nothing. . . You need to show liquid fund only, you can show your parents's fund if you have join account

 

[Vel_BG]

As already said, you should provide proof of $$$ only. Anyway you could include the total amount of assets in the new Schedule 3 form - check it out.

 

[mosharafbabu]

Nothing. . . You need to show liquid fund only, you can show your parents's fund if you have join account

Ok, Thanks for info.
Will it be a fact if I deposit full required amount at Bank for 3 people as per CIC web, i.e equivalent amount of CAD $ 17000+ ?? After that I need bank certificate or bank statement from Bank ??

 

[Vats]

Ok, Thanks for info.
Will it be a fact if I deposit full required amount at Bank for 3 people as per CIC web, i.e equivalent amount of CAD $ 17000+ ?? After that I need bank certificate or bank statement from Bank ??

yes means you need to show proof to CIC, for that you need bank certificate.
Cerficate is better than bank statement

 

[mosharafbabu]

yes means you need to show proof to CIC, for that you need bank certificate.
Cerficate is better than bank statement

Much thanks for prompt reply @Vats

Is there any chance that CIC may ask why you sent Bank certificate other then bank statement, u know, CIC is the boss & can say anything !!!!????

Another last thing, Bank certificate include my Name , a/c number, address, available balance and authorized signature. is it required that bank declare converted value of available balance to CAD $ value ... bank may not do this... pls advice Much Thanks

 

[Vats]

Much thanks for prompt reply @ Vats

Is there any chance that CIC may ask why you sent Bank certificate other then bank statement, u know, CIC is the boss & can say anything !!!!????

Another last thing, Bank certificate include my Name , a/c number, address, available balance and authorized signature. is it required that bank declare converted value of available balance to CAD $ value ... bank may not do this... pls advice Much Thanks

that much is enough. . . . no problem

 

[Cappuccino]

Nothing. . . You need to show liquid fund only, you can show your parents's fund if you have join account

Sorry but that is incorrect advice.

You cannot show joint account with parents as proof of funds.

The only acceptable joint account is a joint account with spouse IF he/she is accompanying the principal applicant to Canada.

Wane.

 

[Vats]

Sorry but that is incorrect advice.

You cannot show joint account with parents as proof of funds.

The only acceptable joint account is a joint account with spouse IF he/she is accompanying the principal applicant to Canada.

Wane.

They accept joint acc in case of parents its prorate base for each holder