PMM, Rupesh, Leon, Senior Members-Help Please regarding Proof of Funds

[kagan]

Hi Everyone,

I will submit my documents to London hopefully before the end of December. I would like to ask you a question.

Proof of Funds-Since I do not have the cash money but the properties how do I write this on the from. Appendix A11 says

SETTLEMENT FUNDS
Refer to the "Proof of Funds" section of our Web site for exact figures and
instructions.

Provide proof of unencumbered and readily transferable funds in a convertible
currency available for settlement in Canada (for you and your family members):
• current bank certification letter; or
• evidence of savings balance; or
• fixed or time deposit statements.

After this explanation there is a small box to tick. But If I tick this I have to prove that I have the money which I don't. But If I do not thick the box I might get refused.

I am confused. Since at a later stage it might ask Personal Net Worth Statement which I can fill. But since I do not have money what do I have to do?

I read numereous times that London accepts property as fund and I have one house and one land in Turkey worth around $35,000.

Please advice me what to do.

Thanks,

Kagan

 

[kagan]

Senior Member please help.

Thanks,

Kagan

 

[rupeshhari]

aren't you supposed to give teh statement of work at the time of application to the visa office.

 

[kagan]

Hi Rupeshari,

I thank you for your answer. The Appendix says the below:

11. SETTLEMENT FUNDS
Refer to the "Proof of Funds" section of our Web site for exact figures and
instructions.
Provide proof of unencumbered and readily transferable funds in a convertible
currency available for settlement in Canada (for you and your family members):
• current bank certification letter; or
• evidence of savings balance; or
• fixed or time deposit statements.


I do not have cash money but the property. How do I fill this part of the form? Should I leave it blank? Should I tick it and only provide worth statement?

Please advice me.

Thanks,

Kagan

 

[zygurn]

Need the cash unfortunately. When they say readily transferable funds in a convertible currency available it means cash. A property is not a readily available fund because you have to put it up for sale -and- wait till its sold so then you have available money. So if you don't meet the cash amount they ask you to have, then you either have to get the money somehow or sell your property. This is unfortunately needed at the time you apply and during the whole process since they may ask you to show proof of funds whenever.