Sohail Chowdhury said:
Dear Bangladeshi Friends,
Here are some important links related with Proof of Fund in context of Bangladesh
CIC Requirements
http://www.cic.gc.ca/english/immigrate/skilled/funds.asp
http://www.cic.gc.ca/english/immigrate/skilled/arriving.asp
Bangladesh Bank's Foreign Exchange Regulation Act, 1947 (VII of 1947)
http://www.bangladesh-bank.org/feregime/app1-vol1.html
Bangladesh Bank's Guideline on Outward Remittances
http://www.bangladesh-bank.org/feregime/feguidev1ch7.html
Private Remittance (Read Clauses 12, 13, 14)
http://www.bangladesh-bank.org/feregime/feguidev1ch18.html
Prescribed Application Form
http://www.bangladesh-bank.org/feregime/app5-vol1.html
The other way for proof of fund, if the country doesn't allow (I am not sure about the authenticity of this website)
http://www.goingtocanada.gc.ca/CIC/display-afficher.do?id=0000000000007&lang=eng
I have just skimmed through these references. I will study these pages in detail sometime later. Meanwhile, please let me know if I have given any irrelevant links here.
Sohail
Some of my friends here were asking for some extracts from these links. Here are some of the important points.
CIC Requirements regarding Settlement Fund:
No. of Family Members Fund Required (CAD)
1 --------------------- $11,086
2 --------------------- $13,801
3 --------------------- $16,967
4 --------------------- $20,599
5 --------------------- $23,364
6 --------------------- $26,350
7 or more ------------- $29,337
Format of Proof of Fund suggested by CIC:
- Cash
- Securities in bearer form (for example, stocks, bonds, debentures, treasury bills) or
- Negotiable instruments in bearer form, such as bankers' drafts, cheques, travellers' cheques or money orders.
Bangladesh Bank's Guidelines for Foreign Exchange Transactions Vol-1 Chapter 7 Outward Remittances:
4. Applications for Bangladesh Bank's prior approval for outward remittances, wherever required, should be submitted to Bangladesh Bank only through the ADs and not by their customers directly; all such applications should be forwarded by the ADs to Bangladesh Bank by their own messengers or by post.
*AD = Authorized Dealers e.g. Banks, Authorized Money Exchange etc.
6. All authorisations excepting TM forms approved by the Bangladesh Bank or by the ADs on behalf of the Bangladesh Bank remain valid for a period not exceeding 30 days from the date of approval unless they are expressly stated as valid for a specified longer period or unless they have been revalidated for a further period. TM form approved by the Bangladesh Bank will, however, remain valid for a period of three calendar months from the date of approval by the Bangladesh Bank. Permits issued by the Bangladesh Bank are also valid for specified periods as stated on the permits. The ADs should not effect any remittance against approved Forms or Permits which have lapsed unless they have been duly revalidated.
Bangladesh Bank's Guidelines for Foreign Exchange Transactions Vol-1 Chapter 18 Private Remittances:
11.Consular fees collected by foreign embassies in Bangladesh Taka and deposited in a Taka Account maintained with an AD solely for depositing the consular fee collections may be remitted abroad without prior Bangladesh Bank approval; the AD shall report such remittance in the usual monthly returns alongwith the relevant TM Form to the concerned area office of the Bangladesh Bank.
12.Immigration visa processing fees and evaluation fees for evaluation of educational certificates, demanded by Foreign Immigration Authorities from resident Bangladesh nationals applying for Immigration Visa, may be remitted by ADs as per demand notes of the Foreign Immigration Authorities, on approach by the applicants. Such remittances shall also be reported to the area offices of Bangladesh Bank in the usual monthly returns alongwith relevant TM Forms.
13.Applications for remittance of moderate amounts of foreign exchange for maintenance of family members (dependent parents, spouses and children) living abroad may be forwarded by ADs to the Bangladesh Bank for consideration and prior approval. Each application should be supported by a certificate issued by the relevant Bangladesh Embassy regarding residency of the beneficiaries, extent of income abroad alongwith the Embassy's recommendation as to moderate requirement for family maintenance purpose. The certificate should also indicate the purpose for which the family member(s) went abroad, reasons for continued residence abroad and the probable period of stay abroad.
14.Applications for remittances by private individuals for purposes other than those mentioned above should be made on Form TM on which full details of the purpose of the remittance should be stated and full documentary evidence in support of the application be attached. The ADs must satisfy themselves regarding the bonafides of each case through their personal knowledge of the applicant, if any, or evidence which the applicant may be able to produce. After thus satisfying themselves, the ADs should certify the application and forward it to the Bangladesh Bank for consideration. In each case the nationality of the applicant should be stated and if the applicant is not a resident in Bangladesh, the country of residence of the applicant should be clearly stated. If the applicant is a foreign national, the period of residence in Bangladesh and his intention as to future residence should be declared. Particulars of any permit obtained by him for making monthly remittances to his country of domicile should be given.
