Proof of FUNDS : A Requirement at the Get Go?

[rikit01]

Hi,

I just wanted to clarify/consult this group if "Proof of Funds" is already required to be sent to the CIO as stated in the LONDON VISA document checklist. This is the first stage of application, In other visa offices, its only required after a few months or when the CIO asks for it.

Thanks in advance for your replies.

 

[Cappuccino]

Hi,

I just wanted to clarify/consult this group if "Proof of Funds" is already required to be sent to the CIO as stated in the LONDON VISA document checklist. This is the first stage of application, In other visa offices, its only required after a few months or when the CIO asks for it.

Thanks in advance for your replies.

Proof of funds as far as I am aware is required for all visa offices, at the time you apply.

For London this is 100% definitely the case. And this money has to belong to you and may not be borrowed.

You may show equity in property at London if you can provide 3 valuations and a mortgage statement in addition to any bank funds.

Otherwise, you just have to wait until you save up enough money, then apply.

Best of luck.
Wayne.

 

[xehiaa]

Hi guys.
I am on my way to mail my application under the Federal Skilled Worker.
But one step became unclear for me about proof of funds.
I own a Real Property that i evaluated by a third party who is in the business of valuating ...( original letter of proof my ownership and property evaluation )
however, I just found the information that in addition I have to write an official statement-"SWORN AFFIDAVIT OF INTENT TO SELL (Property) OR WITHDRAW (money).
Is anybody know what it means,or have already written it and willing to share!?
Should I send it with my entire application or I have to wait until CIO will request it?
I will deeply appreciate any prompt answer. I really got stuck by it right after everything had been ready to be sent.

Thanks!

 

[Pippin]

I am not an expert in this area (or any others, LOL), but I presume this means that you have to declare that you WILL sell your property and bring that money to Canada with you. There is no point in having money tied up in a house when you need it to pay for rent and food when you get to Canada. So....IF you are putting up your equity in your house as proof of funds you also have to be ready to sell it to generate those "liquid funds" for your use in Canada. Hope this helps.

 

[steaky]

I am not an expert in this area (or any others, LOL), but I presume this means that you have to declare that you WILL sell your property and bring that money to Canada with you. There is no point in having money tied up in a house when you need it to pay for rent and food when you get to Canada. So....IF you are putting up your equity in your house as proof of funds you also have to be ready to sell it to generate those "liquid funds" for your use in Canada. Hope this helps.

I don't agree. You don't have to sell your property (if it high income generating property and you are confident about the local market than Canada). You can use the property as your banking machine to get cash out of it (in similar fashion like a equity power mortgage in Canada) and pay for the downpayment and food when you get to Canada. Hope it helps.