I posted this question to a Canadian Immigration consultant on AllExperts.com about the Property Evaluation as Proof of Settlement Funds.
QUESTION:
Dear Diana,
I am a citizen of Pakistan and also living in Pakistan. I have applied for Canadian Immigration and have got my Initial approval from CIC Canada. I have been advised by the CIC to submit the complete application with all the supporting documents to the Canadian High Commission in London.
My query is about the “Proof of Settlement Funds” requirement.
As per the Instructions guide (IMM EG7000) for Federal Skilled Worker Class on Page 31 it states…
10.Funds
Indicate the amount (in Canadian dollars) of unencumbered, transferable and available funds that you have. This amount can include the value of any property that you own, but should not include jewellery, cars or other personal assets.
In reference to the above statement I will be submitting my property evaluation certificate from a licensed evaluator as an evidence of my Proof of Settlement Funds. I plan to sell my property before landing in Canada and will use the equity to establish myself.
Kindly confirm if the property evaluation as “Proof of settlement funds” satisfies the Canadian High Commission London requirements?
Thanks,
ANSWER:
CIC says : The applicant must clearly demonstrate that they have sufficient and available funds to meet the
requirements.
So, yes property evaluation can demonstrate you have that capacity.
Thanks for your email.
I repeated my question for further clarity
QUESTION:
Thank your for your response.
This means that only Property Evaluation is good enough as long it demonstrate the required funds there is no mandatory requirement to show the settlement funds only in liquid form.
On some Canadian Immigration discussion forums it says that it depends on specific Visa Office whether they accept Property Evaluation as proof of settlement funds. Please advise if this correct, because the CHC checklist specific to London and few others that I have checked asks for the following forms of evidence only, i.e
1. Current bank certification letter; or
2. Evidence of savings balance; or
3. Fixed or time deposit statements.
The checklist does not mentions about property evaluation can be used to demonstrate as proof of fund.
Kindly clarify this as it would help lot of us who are confused on this issue.
Thank
ANSWER:
I have already answered this question for you once before.
I have more than what is required, but all in the form of Property and I am not in a position to dispose off my Property at this time. I can dispose off my property at the time of leaving for Canada.
There are mixed opinions on different Immigration forums about the Property if it can be shown as the proof of settlement funds. In the guide it does says it can be used as proof of funds but unfortunately the visa office specific checklist is not very elaborative on this. I have checked some visa office specific checklist including London, Pakistan, India and some other and did not see any difference at all under the settlement funds section in each of these checklists. Where in the checklist it is mentioned Property evaluation is acceptable/unacceptable as proof of funds.
QUESTION:
Dear Diana,
I am a citizen of Pakistan and also living in Pakistan. I have applied for Canadian Immigration and have got my Initial approval from CIC Canada. I have been advised by the CIC to submit the complete application with all the supporting documents to the Canadian High Commission in London.
My query is about the “Proof of Settlement Funds” requirement.
As per the Instructions guide (IMM EG7000) for Federal Skilled Worker Class on Page 31 it states…
10.Funds
Indicate the amount (in Canadian dollars) of unencumbered, transferable and available funds that you have. This amount can include the value of any property that you own, but should not include jewellery, cars or other personal assets.
In reference to the above statement I will be submitting my property evaluation certificate from a licensed evaluator as an evidence of my Proof of Settlement Funds. I plan to sell my property before landing in Canada and will use the equity to establish myself.
Kindly confirm if the property evaluation as “Proof of settlement funds” satisfies the Canadian High Commission London requirements?
Thanks,
ANSWER:
CIC says : The applicant must clearly demonstrate that they have sufficient and available funds to meet the
requirements.
So, yes property evaluation can demonstrate you have that capacity.
Thanks for your email.
I repeated my question for further clarity
QUESTION:
Thank your for your response.
This means that only Property Evaluation is good enough as long it demonstrate the required funds there is no mandatory requirement to show the settlement funds only in liquid form.
On some Canadian Immigration discussion forums it says that it depends on specific Visa Office whether they accept Property Evaluation as proof of settlement funds. Please advise if this correct, because the CHC checklist specific to London and few others that I have checked asks for the following forms of evidence only, i.e
1. Current bank certification letter; or
2. Evidence of savings balance; or
3. Fixed or time deposit statements.
The checklist does not mentions about property evaluation can be used to demonstrate as proof of fund.
Kindly clarify this as it would help lot of us who are confused on this issue.
Thank
ANSWER:
I have already answered this question for you once before.
I have more than what is required, but all in the form of Property and I am not in a position to dispose off my Property at this time. I can dispose off my property at the time of leaving for Canada.
There are mixed opinions on different Immigration forums about the Property if it can be shown as the proof of settlement funds. In the guide it does says it can be used as proof of funds but unfortunately the visa office specific checklist is not very elaborative on this. I have checked some visa office specific checklist including London, Pakistan, India and some other and did not see any difference at all under the settlement funds section in each of these checklists. Where in the checklist it is mentioned Property evaluation is acceptable/unacceptable as proof of funds.
