Savings in the Bank

[Fencesitter]

Hi all,

Another question popped up in my head this morning. In terms of savings in the bank, how much is enough? I have about USD$16,000 in my account, plus a car worth about USD$13,000 when we sell it, another USD$10,000 gift from my wife's parents to help with relocation costs, and over the next year (up to the 1 year anniversary of my wife's medical) another USD$12,000. Since we have a child (Canadian citizen), but still dependent on me for everything, plus my wife, will CIC need to see proof of how much we have saved in the bank?

I can't see the car now, because we still need it, so how can I show the estimated amount we will get when we sell it? My wife's parents have not given us the USD$10,000 yet, they are waiting until it gets closer to our actual departure date. The remaining amount will be saved over the next 12 months, so I have no way of showing that information to CIC.

I am worried that the CIC or VO will want to see savings in excess of USD$50,000, which we cannot show....

Am I facing a potential problem? Have others been approved with less savings?

Thanks,
FS

 

[itscoezy]

Hi all,

Another question popped up in my head this morning. In terms of savings in the bank, how much is enough? I have about USD$16,000 in my account, plus a car worth about USD$13,000 when we sell it, another USD$10,000 gift from my wife's parents to help with relocation costs, and over the next year (up to the 1 year anniversary of my wife's medical) another USD$12,000. Since we have a child (Canadian citizen), but still dependent on me for everything, plus my wife, will CIC need to see proof of how much we have saved in the bank?

I can't see the car now, because we still need it, so how can I show the estimated amount we will get when we sell it? My wife's parents have not given us the USD$10,000 yet, they are waiting until it gets closer to our actual departure date. The remaining amount will be saved over the next 12 months, so I have no way of showing that information to CIC.

I am worried that the CIC or VO will want to see savings in excess of USD$50,000, which we cannot show....

Am I facing a potential problem? Have others been approved with less savings?

Thanks,
FS

Are you applying for your wife to come to Canada? Someone correct me if I'm wrong but you don't need to have a certain income or savings to sponsor a spouse under Family Class Sponsorship. I've talked with some people who successfully sponsored their spouses and have been students making no money.

 

[Fencesitter]

You are correct, but we have a child, so I am wondering if CIC will want to see some kind of proof that we have money in the bank.

I have a letter of intent from a Canadian employer at CAD$70,000 per year, but will CIC want to see actual savings that we are bringing with us to Canada because we have a child???

Thanks,
FS

 

[CharlieD10]

You don't HAVE to provide proof of your savings, but it is recommended you do so because it all goes toward establishing you have more than a vague intention to relocate to Canada. You will show that you have a plan and you have funding for the short-medium term and can stabilise your family once you all arrive in Canada.

 

[Mrslwsn]

Fencesitter, I have seen several posts of yours, and I know you are very concerned about the application, I just wanted to give you a comforting word. I sponsored my husband to come to Canada, I did not show any bank statements, I only made $7000.00 last year and I have 4 children of my own. I too was worried about our app because I was wondering if because I have so many kids and low income they would question it, but yet I was approved no problem. $70,000 is more than what some CANADIAN born familes earn with much more than 1 child, so in my opinion, you really need to stop stressing yourself out, and everything will be fine.

 

[Fencesitter]

How much would satisfy CIC or the VO????

FS

 

[Fencesitter]

Fencesitter, I have seen several posts of yours, and I know you are very concerned about the application, I just wanted to give you a comforting word. I sponsored my husband to come to Canada, I did not show any bank statements, I only made $7000.00 last year and I have 4 children of my own. I too was worried about our app because I was wondering if because I have so many kids and low income they would question it, but yet I was approved no problem. $70,000 is more than what some CANADIAN born familes earn with much more than 1 child, so in my opinion, you really need to stop stressing yourself out, and everything will be fine.

Cheers! I am stressed out because this is make or break for my family, as China is really doing my head in and I must get out before I go completely insane!!

Thanks for the reassuring words...I really needed that...

FS

 

[Mrslwsn]

No problem, I really think it will be cool. Just relax. financially you are more than sound.

 

[canadianwoman]

Show proof of the savings you do have now. Show proof you own a car, and state you plan to sell it just before you move - the actual value is not necessary.

 

[Lemondrop78]

I have no income and 3 kids and I'm sponsoring my spouse...he has the income though and we don't have as much savings as you do...i'm stressing too...I think alot of us are worried we're not doing things right or something will go wrong.

Cheers! I am stressed out because this is make or break for my family, as China is really doing my head in and I must get out before I go completely insane!!

Thanks for the reassuring words...I really needed that...

FS

 

[Fencesitter]

I have no income and 3 kids and I'm sponsoring my spouse...he has the income though and we don't have as much savings as you do...i'm stressing too...I think alot of us are worried we're not doing things right or something will go wrong.

Exactly. For me, I keep second guessing myself. One day I'll think I have everything sorted, the next, I'll read something that makes me wonder if I even know what I am doing!!!

Like my latest post about updating marital status. I really have no idea if this will cause CIC to reject my application because Revenue Canada still has me down as single and at my parents' address....!!!!

On top of all this, I am really fed up with living in China...I have been here nearly a decade now...this place was cool in the beginning, but the last couple of years have been tough...I really need to get back home, but I can't leave my wife and son!!! All I want is to get out of here!!!

FS

 

[Mrslwsn]

Well you cant know until you try. Stop second guessing your situation. If it's real I believe the truth will shine...Why does he need to prove or show finances or assets????? All you need is a job letter and option c, explain you have been out of country and now you want to come back to Canada with your wife n child. Why are you causing yourself unecessary stress? All this overthinking will prolong your application. Just go with it.

 

[Fencesitter]

Well you cant know until you try. Stop second guessing your situation. If it's real I believe the truth will shine...Why does he need to prove or show finances or assets????? All you need is a job letter and option c, explain you have been out of country and now you want to come back to Canada with your wife n child. Why are you causing yourself unecessary stress? All this overthinking will prolong your application. Just go with it.

Again, you are right. I guess I am stressing so much because this is the most important thing I have ever done in my life.

I guess I will just jump in and see what happens...hopefully I've covered everything and CIC approves everything quickly!

 

[itscoezy]

I honestly recommend you try to take a step back from reading the forums and appeals and rejection reasons etc. At the end of the day, it's up to the VO officer. If you put in all the information you can possibly include and send it in - no amount of reading forums, rejections, appeals and worrying is going to change the end result - what that VO officer thinks.

i drove myself crazy after submitting our TRV the first time and read for hoooours everybody's experience. It didn't change the end result.

Trust in your relationship and your application - I agree with what was said earlier - the truth will shine!

goodluck

 

[Mrslwsn]

I honestly recommend you try to take a step back from reading the forums and appeals and rejection reasons etc. At the end of the day, it's up to the VO officer. If you put in all the information you can possibly include and send it in - no amount of reading forums, rejections, appeals and worrying is going to change the end result - what that VO officer thinks.

i drove myself crazy after submitting our TRV the first time and read for hoooours everybody's experience. It didn't change the end result.

Trust in your relationship and your application - I agree with what was said earlier - the truth will shine!

goodluck

I second this. You could have all the money in the world, If the IO doesnt see the truth there is nothing you can do. I felt that way as well, like this was THE most important thing I have ever done and I was fretting they were going to say how can this poor single mom with 4 small children sponsor this man, and guess what, I applied Nov/24th and my husband got ppr in less than 4 months, so all my stress was over nothing! Truth always prevails.
goodluck
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