PROOF of FUNDS... HELP!

[eagerbeaver]

Hey guys! I am a medical professional in India planning to immigrate to Canada under the FSW program.

For the 'Proof of Funds' part of the application, what can or can't I show to satisfy CIC?
I am aware that CIC prefers liquid funds such as bank account statements, time (fixed) deposits, or readily cashable and transferable funds. However, most of my money is invested in various instruments.

So, here is what I am specifically wondering about. For the purpose of 'Proof of Funds'—

1. Can I show mutual funds?

2. Can I show property?

I intend to sell the property upon receiving Permanent Residence and moving to Canada. However, I am unwilling to sell it prior to such a thing happening due to obviously enormous risks.
Also, my property value is far greater than all my liabilities combined, still leaving a considerable amount after I repay all my outstanding debt.

Any latest information pertaining to these questions would be much appreciated. Thanks.

 

[steaky]

Re: PROOF of FUNDS... Latest info

but you should also consider once landing and moving to Canada , you are consider a tax resident of Canada and you are subject to your world wide income. Your disposal of mutual funds and properties are subject to Canadian tax.

 

[eagerbeaver]

Re: PROOF of FUNDS... Latest info

That may be, but my question is "can I show mutual funds and property as proof of my funds?"

 

[eagerbeaver]

Re: PROOF of FUNDS... Latest info

Common guys! Is there no one on this forum who has a concrete idea about permissibility of property and/or mutual funds as "Proof of Funds"?

 

[asyousuf]

Re: PROOF of FUNDS... Latest info

That may be, but my question is "can I show mutual funds and property as proof of my funds?"

Dear...for property, u hv to hv recent valuation done by professional valuer (on letter head and duly notarized) and can be shown as proof of fund. Pls note that this is valid only when u r first time applying. In case CHC asks u to submit again say with Meds, than it should be in liquid form to assure that u r all ready to move canada once u hv PR.

Same goes with mutual funds except valuation condition but with the recent market report where disposition values are officially available..share the source and paper.

Other members pls correct if i am wrong