Proof of Funds.

[swaps82]

Hey! All,
I had sent a query to cic office in India asking them about what are the Acceptable Proof of funds we can show at the time of landing?

I got a reply from cic office as follows; I thought of sharing it with you all as it'll be helpful for anyone to arrange funds accordingly.

Dear Sir/Madam,

This is in response to your recent email enquiry to the Immigration Section of the Canadian High Commission in New Delhi.


The amount of funds you need to have in order to settle in Canada depends on the size of your family. The funds must be available to you and transferable to Canada. They must be unencumbered by debts or other obligations.


Number of family membersFunds required
1 $11,086
2 $13,801
3 $16,967
4 $20,599
5 $23,364
6 $26,350
7 or more $29,337





Acceptable proof of funds are:
-bank accounts in your name or the name of your accompanying spouse/common-law partner;
-cashable investments in your name or the name of your accompanying spouse/common-law partner;
-cashable fixed deposits in your name or the name of your accompanying spouse/common-law partner;
-property valuations of property which is unencumbered by debt in your name or the name of your accompanying spouse/common-law partner.

Not acceptable are:
-bank accounts in someone else’s name;
-bank accounts which are joint in your name and someone else (other than your accompanying spouse/common-law partner);
-bank accounts in the name of your spouse who is not accompanying you to Canada;
-property valuations;
-vehicle valuations;
-jewellery valuations.

You are not required to carry your funds in cash when you arrive in Canada. You are, however, required to show documentary evidence that you have the funds available (in bank accounts or cashable investments), and that they can be transferred to Canada.

A port of entry officer in Canada may seek to confirm these funds before granting you permanent residence along with your dependants.

If you have arranged employment in Canada, you do not have to meet these financial requirements. Arranged employment means that you have an offer of indeterminate employment from an employer in Canada. You must be either currently working in that employment on a work permit in Canada, or have been issued a labour market opinion has must have been provided by the Human Resources and Skills Development Canada (HRSDC). In order to be exempt from the minimum funds requirement, the offer of employment must be genuine, the employment must not part-time or seasonal, the wages offered must be consistent with the prevailing wage rate for the occupation, and the working conditions must meet generally accepted Canadian standards.

We trust that this information will be of assistance.

 

[visaexpert]

GOOD JOB

 

[Gogy]

I am an applicabt from Pakistan and I have also sent a query to CHC London about Proof of Funds. I specificall asked if the Property valuation can be used as a proof of funds and there response is:

Thank you for your enquiry.

In support of your application, you should provide proof of unencumbered and readily transferable funds in a convertible
currency that is available to you 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.

Before approving an application, the immigration officer must be satisfied that you have sufficient funds to support yourself and your family when you first arrive in Canada. The Government of Canada does not provide financial support to new skilled worker immigrants.

When first arriving in Canada as a permanent resident you will also need to show immigration officials at the port of entry that you have sufficient transferable funds for your settlement in Canada.

You can show bank statements or saving statements or value of your property after the repayment of your mortgage.

If you have been offered a job or if you are going to work in Canada on a temporary work permit you may present proof of your salary.

Yours sincerely,

Client Service Unit (LIB)



The response that you have received from CHC New Delhi under "Acceptable proof of funds" says that Property Valuation is acceptable where as under "Not Acceptable" it mentions Property Valuation are not acceptable this is confusing.

 

[Cappuccino]

I am an applicabt from Pakistan and I have also sent a query to CHC London about Proof of Funds. I specificall asked if the Property valuation can be used as a proof of funds and there response is:

Thank you for your enquiry.

In support of your application, you should provide proof of unencumbered and readily transferable funds in a convertible
currency that is available to you 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.

Before approving an application, the immigration officer must be satisfied that you have sufficient funds to support yourself and your family when you first arrive in Canada. The Government of Canada does not provide financial support to new skilled worker immigrants.

When first arriving in Canada as a permanent resident you will also need to show immigration officials at the port of entry that you have sufficient transferable funds for your settlement in Canada.

You can show bank statements or saving statements or value of your property after the repayment of your mortgage.

If you have been offered a job or if you are going to work in Canada on a temporary work permit you may present proof of your salary.

Yours sincerely,

Client Service Unit (LIB)



The response that you have received from CHC New Delhi under "Acceptable proof of funds" says that Property Valuation is acceptable where as under "Not Acceptable" it mentions Property Valuation are not acceptable this is confusing.

We got an almost identical reply when we asked London, I think this is just their cut+paste response to any proof of funding question.

I know many people on the British Expats forum who successfully used only property valuations + mortgage letter as proof of funding. However, the situation may be different for Pakistan applicants. For UK applicants the visa office can easily confirm that you own the property by checking the land registry, I imagine proof of ownership is somewhat harder to obtain for Pakistan applicants so might be best to check with actual Pakistan applicants who have successfully used property as proof of funding?

Best of luck,
Wayne.

 

[Gogy]

In my mail sent to CHC London I have specifically mentioned that I am an applicant from Pakistan and if they feel there is an issue they probably would have not mentioned property is acceptable.

Secondly, getting property on mortgage is very common in Pakistan and every bank gets the property valuated by a registered valuator licensed by State Bank of Pakistan before mortgaging it.

Regards,