Proof Of Funds Query

[blueboy]

Hi,

I have recently got a piece of land transferred on my name from my parents. Earlier it was on my mother's name but later on we got it transferred it on my name.

Now, my question is regarding the proof of funds. The piece of land that I own is worth approx. $12,000 CAD. Can I show this as proof of funds while applying for Skilled worked Immigration process? The land is completely on my name and I am the sole owner.

Thanks.

 

[qbanky]

Does not work...It must be easily disposable assets like stocks, Cash Deposits or similar. You would have to sell the land to prove that it is truly worth what you claim (which is not advisable till you get the visa)

 

[blueboy]

What if I get the worth adjudged from a bank and then get a letter from a bank stating the same?

Also, is it necessary to show the proof of funds at the time of submission of application in case of SAP? I don't have liquid funds right now but I might be able to accumulate in the next 3-4 months.

Please advice.

 

[Sadruddin]

PPM pls suggest . Does he really need to keep a record of proof that he had enough money at the date of submitting the application under SAP? or this is a concern of a later date only when they ask for it?

 

[qbanky]

Maybe I was misunderstood, under the SAP, when they need your documents, it will be requested for. You do not need to send anything immediately. wait till they ask you for it. What i meant by having your bank activity show is that from the date you submit, it is safer to keep your account in such a state that when they request it you can show there has been activity on it for previous months!
Now since technically, you don't know when they will ask you for your documents, then it makes sense to be prepared!

 

[kelzer]

You only need to prove your funds when they ask for them. You don't need to have proof of funds when initially applying.

 

[Eric Parker]

Would an IRA count as prooof of funds? I own no land nor do I own a house. All I have is an IRA and a checking account. I listed only the funds in my checking account in the initial application.

 

[blueboy]

Ok got it. But, I am confused about one more thing. In the application form there is a section (#25) where we need to write down the Funds. So do I need to fill the 10,000 CAD limit that is needed or should I write how much I have right now? I don't have 10,000K right now but am hopeful that I will be able to accumulate it in the next 4-5 months.

Please let me know about it.

Thanks.