Proving the availability of funds

[low6095]

1. At what stage, candidates are asked to prove the availability of funds?

2. In my case, I will have to convert my assets to liquid cash hence funds will pour in to my bank account immediately (without any previous history of consistent transactions). Will that be OK?

3. Do I need to prepare my bank statement before initiating the application process?

 

[aanbaan]

the proof needs to be given at the time of final application submision to local visa office.

normally, bank statement of previous 2-3 months needs to be given. If you want to liquidate some assets, you can still give 2 months bank statement showing funds because you'll have about 4 months to submit final application. you can liquify your assets and hold the money in for 2 months and then draw account statements.

 

[ja77]

1. At what stage, candidates are asked to prove the availability of funds?
first, at the time of submitting the full application to your local CHC. second, at the time of landing in canada after the approval of your file. the CHC can also ask you to provide another bank statement while your file is being processed.

2. In my case, I will have to convert my assets to liquid cash hence funds will pour in to my bank account immediately (without any previous history of consistent transactions). Will that be OK?
this is OK as long as you can show them a proof that this heavy bulk of funds transferred into your account because you sold off your property. alternatively, you can give them only one month or two month bank statement if you wish to do so

3. Do I need to prepare my bank statement before initiating the application process?
prepare and submit your bank statement when you submit your full application to your local CHC.

hope this helps.

 

[low6095]

thanks all!

 

[vivenhs]

Cash in Bank is not so big - for purposes of providing proof of funds, i plan to sell properties and submit a copy of transaction where the money emanates, will this work?

 

[jojobaba]

All Seniors are requested to reply pls
Proof of funds / bank statement

An applicant sends his complete case to CHC in the month of March,09. The attached bank statement is for the last 2 months ( Jan-Feb09) and have the required funds. Now question arises whether the applicant has to maintain that required funds in bank untill the case is finalized or she can withdraw funds after March,09.
Pls do reply
Thanks

 

[aanbaan]

needs to maintain.

they can ask for updated Proof of funds any time till the issue of PR visa.