SETTLEMENT FUNDS

[FAM]

SETTLEMENT FUNDS
(Refer to the “Proof of Funds” section of our Web site (www.cic.gc.ca/skilled) or
the Guide for Federal Skilled Worker Applicants for exact figures and instructions.)
Provide proof of unencumbered and readily transferable funds in a convertible
currency available 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.


DO we really need to to opena bank account for this in Canadian financial institution, transfer the funds there in CAD $ and then generate the bank statement and attach with the application for this or can the bank statement of bank account in my country will work for this ?

Also please let me know how old this bank statement can be ?

Is it also true for Fixed or time deposit statements?

 

[canada2007]

No . you can show proof from any currency as long as it is equitant of the required Canadian $ amount. Savings, Checking and term deposits are valid. Make sure your statement show banking institution information (on a bank letter head