Gold as POF: I have Certificate when I purchased online

[immigration1]

Dear all Seniors.
Please help me to show Gold as POF, what I have to do?

I purchased Gold from APMEX.com

here is the details with Certificate gold bars, I already submitted my file to CHC Buffalo but still not recived any update, I want to update my POF which Gold I have, because I want to use some my money from checkin account, I just purchased gold in new year 2011 gift to my wife.

9 X (20 grm) .9999 Fine Gold Bar - Credit Suisse (with Statue of Liberty) for $926.38 each Bar, Brand New
Certificate with Subtotal: US $8,337.42

What I have to send to CHC for proof of my updated POF?

original Certificate copy is ok to send CHC Buffalo which come with the gold box? or any process to follow?

Thanks lots,
Prashant Desai.

 

[Foreignsaurus]

I'm not a senior or anything, but from what I understand, it all comes to "Do you have cash to pay your expenses in Canada?". So gold cannot be used as proof of funds as it is not something you can use in Canada to pay for your stay and all.

What you have to provide is evidence that you have money that you can use to pay your bills when you land in Canada without a job. As I understand, gold would be considered a good like any other property you might have (car, house, etc).

Consider this you provide the certificate of how much the gold is worth, then the visa office asks: "If you only have gold, how do you intend you pay your hotel, rent, food or other expenses here considering gold is not accepted as a payment method in 99.9% of canadian businesses?". And you can replace gold with any other good. Even if these things are worth the required amount or more, it's usually not the best way to go for that simple fact that it's not currency; you should probably provide bank statements showing the amount that you can actually use to pay bills; it may save you from troubles.

Regards

 

[immigration1]

yes , I have enough cash but want to use some cash so, I can adjust Gold value as POF? I will also carrie this gold with me.
I read somewhere in this forum that gold is also accepted as POF. but I dont find right now...
I will manage for example : Cash 60% and Gold 40% or Cash 70% and Gold 30% of my POF.

if its accepted then I will get certificate of another gold which ornaments we have with us from our Indian marriage.
we have some gold as bars and some in ornaments : we are 3 peopls (ME, Spouse, 10months US born girl) so, I have gold cost of $16k but I will not consider complete gold as POF, I want to adjust some gold as POF like above mentioned %.

I will manage to stay with 8 cousins, 3 uncle 3 aunties , 9 friends and lots of our 100's of society people.

Prashant Desai.

 

[ainpfamily]

it is difficult to prove "ownership" in case of gold/cash as there is no way for them to verify/know if you still "possess" the thing. that is why bank statements/certificate/property ownership documents are accepted as they can be verified from a 3rd party (banks/govt registrar).

you can also send an email to your VO and ask for clarification.

good luck.

 

[immigration1]

I want to adjust gold bars only as POF , if ornaments are not count as POF I dont want to include it.
so, I count all Gold Bars cost which I have Total : $11246.80
but I want to include just near to $6000 or $8000 as GOLD POF from total of $17k for 3 people.

In Gold certificate Ownership my name is mentioned which I purchased brand new bars only.

Hey Qorax please reply I guess you migrate with gold and you saw POF as gold (I remember your one post there) but this time I dont find that post.
please share with me.

Prashant Desai

 

[Foreignsaurus]

I think the best thing do what ainpfamily suggested which is check with the Visa Office you intend to send your application supporting documents if they accept gold as POF and why.

 

[qorax]

Hey qorax,
can I use my gold as POF?
I already submited my full docs and my e-case is in - process.
I have enough money in USD checking account but I can use if I want to invest somewher some money.
my I will bring cash some with me but rest part I can show gold bars with ownership certificates as POF and even as POF when I land in canada.
I can manage cash 60% and 40% is Gold. even I have option 60% to 70% gold and rest of Cash.
I have my uncle's and aunties cousins are in canada even lots of friends society people from India. so, initialy 2 to 3 months we are staying with my uncle if I get job somewhere long distance from my uncle home then we move, or if near to uncle home then we are staying with him for may be some years that I dont know. but I dont have stay problem in canada.

I know one post somewhere I guess you also have some gold and you also saw it as POF!!! sorry but I dont know where or in which post you mentioned...

please reply here or on my post : http://www.canadavisa.com/canada-immigration-discussion-board/gold-as-pof-i-have-certificate-when-i-purchased-online-t60967.0.html
Thanks,
Prashant Desai.

I guess with this "POF" u r actually referring to the "Landing Funds". If that's so -- No, u cannot place the valuation report of Gold & Jewellry against your available funds for settlement in Canada.

Qorax

 

[niwrrehs]

You cannot use gold as your proof of funds. But you can sell your gold for you to use as proof of funds..
Cheers!

 

[khebra]

it is better to pawn ( mortagage) you god and put this money in the bank and after you send them the bank certificate , you can get them back

 

[immigration1]

Thanks Qorax and all,
I will sell my gold then , Actualy I dont want to sell it but no option, becasue gold rate is day by day is high and purchase gold is too hard for me in future so, I thought to save the gold, even money interest I cant get much from bank , you know when I sell gold after 3years I will get good money.. uhhhhh.. but now no option for me.
I will sell some gold and maintain remaining POF balance for my PR.
Thanks all.
Prashant Desai