Net worth information

[rhmanalili]

Hi all,

Just would like to seek everyone's assisstance on how we are supposed to fill-up the Personal Net Worth information sheet required for FSW applicants. How do we enter in the statement personal life insurance items? Or do we have to include them in the first place? For credit card items, will I need to post this for the latest month only?

Appreciate everyone's help.

Richman Manalili

 

[shibuya]

Its simple 1 . current and savings a/cs
2. Fixed deposits
3.property
4. Shares / socks/ bonds


Less Liaabilies
1. Loans
2. mortgages

= nET PERSONAL WORTH.

jUST BY FILLING THAT FORM WILL NOT BE ENOUGH. yOU NEED TO ATTACH DOCUMENTARY PROOF AS WELL SINCE I DID THE SAME.

Regards,
Shibuya

 

[rhmanalili]

Thanks shibuya for the reply....

Regards

 

[shibuya]

Its my vision and desire to help anyone having a noble cause. Keep the faith alive.

 

[meanne]

Its my vision and desire to help anyone having a noble cause. Keep the faith alive.

Regarding supporting documents for personal net worth, do we need to send notarize copy e.g property title. I will be sending my full docs this june. but i have only photocopy as original is in my home country.

 

[steaky]

Notarised gives more credibility.

 

[meanne]

Notarised gives more credibility.

If I already have sufficient amount in my bank account as proof of fund, is it still required to declare all properties I have (eg. title deed for land)?

 

[shibuya]

If u have sufficient funds in ur account no need to declare every thing. They just need to verify whether you can sustain urself in the 1st six months after arrival.

 

[fariza]

Hi Shibuya
Just a cross query...
How to valuate for the purpose of POF if someone have original land paper? Is it need to be simply translated by the authorized body? or need to have a statement from bank on current local land rate valuation?.... Pl advise

 

[shibuya]

Property valuation is an important component of a property transaction. The valuation process evaluates the market value of the property. A comprehensive valuation report contains value of all the major assets of a property and also the basis and manner in which the valuation has been performed. Valuation or assessment of a property can be a self-assessment or through an external source. One can seek the service of various professional agencies or hire a Government registered valuer for a fee as prescribed by the valuers association. Some real estate agents too conduct valuation based on prevalent market rates.

It is, though, always advisable to conduct an official property valuation, since the valuation report comes handy in different financial transactions. For example, if one uses the valued property as a security against a loan, the bank's loan approval process would be expedited if the property is certified by an official valuer. Such certification also becomes essential in situations, where the correct value of the property has a legal bearing-such as, a will statement, insurance papers, business balance sheets etc.

Contact: http://dir.indiamart.com/impcat/property-valuers.html

http://www.valuersworld.com/newsite/forum/start.php

http://www.pvai.info/about.php

 

[fariza]

Thnx Shibuya
It seems a good process but a bit time consuming to have to go through...
I appreciate your response

 

[sunny1975]

dear forum mebers,

i applied under FSW catagory.

But never filled Personal Net Worth information sheet.

Is it required?

Also i got visa stamped on passport.

Just asking anything wrong .........

regards

sunny

 

[meanne]

If u have sufficient funds in ur account no need to declare every thing. They just need to verify whether you can sustain urself in the 1st six months after arrival.

Thank you, shibuya for the valuable information.

 

[shibuya]

Sunny 1975 , Since u r already thru so no problem. While submitting proof of funds if u fill the net worth form it becomes very easy for Visa officer. Also u need to take the exchange rate of the date u r filling and convert Rupees to Canadian Dollars. The vo work is substantially reduced and ur file could move faster. Also this form gives a better understanding of ur financial background.

 

[sunny1975]

Thanks Shibuya for sharing the information.
I have mentioned in Schedule-3, Sl no 10 POF in canadian dollars $17000/-.
Also attached along with application Fixed deposit recepit for above amount in rupees and letter from Bank stating the equivalent CD$.

I have one property in India but not declared in Application.