SINP 2015 WITHOUT JOB OFFER LET'S DREAM HERE !

[spicey]

Do not totally agree with you. In accounting, a fixed asset (Tangibel, Intangible and Investment {fixed/term deposit is a form}) is any form of asset that can not be readily converted to cash and used for immediate and urgent requirement. It is totally different from a liquid asset (cash, savings and current asset). Converting a fixed asset into cash results in some loss of value while this is otherwise in savings. It is just like shares and needs to be valued based on the current market value. To obtain a solvency certificate in U.S, only fixed asset cannot be shown, you have to show a either a current (liquid asset) or both current and fixed and I believe the same will be applicable in Canada since they use almost the same system

I would suggest Dreamer and Shanaya to get new proof or letter on their bank letterhead showing the start date, current date and the balances (Start and Current balance) if they cannot show any savings account in the last three month.

@ Tols,

You are still wrong there. I believe you are mixing up something.

A fixed Term Deposit is distinct, separate and different from Fixed Asset.

Are you telling me that if I have 20 million USD in my savings account and so as to create a further wealth I ask the Bank to place the fund with their treasury for a period of 60days at 10% interest rate per annum that such fund can not be easily called back.

Fixed Assets depreciates while Fixed Term deposits appreciates.

THIS IS MY AREA OF SPECIALITY. I AM ONCE A FUND AND FINANCIAL MANAGER WITH THIRTEEN GOOD YEARS EXPERIENCE IN CORE HARD BANKING

 

[philipwu]

They asked me to provide them SINP-100-1 form, As my NOC-1111 is regulated in Saskatchewan, how wiil i give below question answer, pls advise me........


Form: SINP-100-1
Does your occupation require you to be approved by an occupational regulatory body
before you can work in Saskatchewan? Yes No

If yes, which regulatory body:


If you have contacted the regulatory body and it has been determined that you do not qualify to work in Saskatchewan, please explain

in detail how you will meet the regulatory requirements.



Please attach correspondence from the regulatory body supporting your ability to work in this occupation in Saskatchewan.

SINP will contact the regulatory body to confirm they support your nomination.



Do you get any certification from the regulatory board in your case it will be CPA?

 

[tetunte]

Awesome update!!! Very happy for you FSWCIO!!!
Congratulationssssss!

Good For you !, I am very happy , you know the song,

https://www.youtube.com/watch?v=FscIgtDJFXg

 

[tetunte]

They asked me to provide them SINP-100-1 form, As my NOC-1111 is regulated in Saskatchewan, how wiil i give below question answer, pls advise me........


Form: SINP-100-1
Does your occupation require you to be approved by an occupational regulatory body
before you can work in Saskatchewan? Yes No

If yes, which regulatory body:


If you have contacted the regulatory body and it has been determined that you do not qualify to work in Saskatchewan, please explain

in detail how you will meet the regulatory requirements.



Please attach correspondence from the regulatory body supporting your ability to work in this occupation in Saskatchewan.

SINP will contact the regulatory body to confirm they support your nomination.

this link could help

https://www.cpask.ca/en/Become-a-CPA/The-Saskatchewan-Immigrant-Nominee-Program


In this linke also there is this information

"Other services performed by accountants, such as, bookkeeping and tax preparation are not regulated for non-members of CPA Saskatchewan. Bookkeeping is considered everything up to a trial balance, but not an issuance of opinion on the compliance of a financial statements with a basis of accounting published by the CPA Canada.

Further, those working as accounts receivable clerk, or in basic accounting functions under supervision are not regulated."

maybe you could demonstrate this.

 

[tetunte]

HI all
I want to share with all my good news . My application status changed to IN PROCESS yestereday!!

Congratulations vgo !,

Do you want to share with us your information there is a form below where you can do this.

Good Luck to you and your family...

 

[tetunte]

Hi all,

My status change to IP on Feb 09, and got an Notes: Noc is listed as 2283 by Applicant, but shows up as 2282 on the SINP list.

I emailed SINP my new IMM-0008, and change to NOC to 2282.

Today 13, my status changed to Waiting On Applicant, but I do not receive the email yet to provide more detail information.

Does anyone know what's that meaning and what should I do, please.

Thank you!~

share you information using the form below..., good for you, that allows you to update your forms...

 

[rsx67]

Thanks Guys,

Yes, I have family of five including me.

Balance went down couple of times as I was opening short term (45-90 days) FDs as usual, I wasn't aware of these requirements of SINP prior to submitting the documents.

I had enough amount 5 members including FD, now there is no FD open, one more thing in my account, one of them was matured just a day before applying.

I will send them review request by monday..

In review request, who else I should include other than immigration email.. can you please provide the URL where I could find the email address for SNIP officials.

 

[tols]

@ Tols,

You are still wrong there. I believe you are mixing up something.

A fixed Term Deposit is distinct, separate and different from Fixed Asset.

Are you telling me that if I have 20 million USD in my savings account and so as to create a further wealth I ask the Bank to place the fund with their treasury for a period of 60days at 10% interest rate per annum that such fund can not be easily called back.

Fixed Assets depreciates while Fixed Term deposits appreciates.

THIS IS MY AREA OF SPECIALITY. I AM ONCE A FUND AND FINANCIAL MANAGER WITH THIRTEEN GOOD YEARS EXPERIENCE IN CORE HARD BANKING

I had direct experience in the field as well. Why is a fixed deposit not run as a normal account and only a certificate is issued like shares and why is it "liquidated" into a normal account at maturity? For fixing your fund, you are giving your bank to use your money for over a period of time. You are buying period from the bank logically. You are entering a business with the bank with an agreement to give you back at that time. It has become an asset (Fixed) to you while it is a liability to the back. This is where the name implies. Can you say money you borrowed your friend with an agreement can be used instantly? No. A fixed deposit that is over a year is a fixed asset. On the issue of the interest rate, are you aware that the bank can reduce the interest rate in accordance with the prevailing market rate which would be a clause in the agreement. You are not loosing physically with your money, but as a financial analyst based on the time value of money, you will have some loss beacause if you have engaged in other form of business, you may make more money than tieing your money in the bank. In the real sense, a fixed deposit is an investment that is comparable to stock investment and it is not liquid. You can not generate any statement of account for it and that is why it is tied to a normal current or saving account because they are liquid account.

 

[Arun2121]

"Please complete "Your Profile" on your Settlement Plan.
Bank Statements showing transactions and balances from October 2014 to date are required
for each account."

Pls advise all senior member..

what should i do???

 

[Cansen]

Hmm, again Monday is an holiday in Sask

 

[vgo]

Congratulations vgo !,

Do you want to share with us your information there is a form below where you can do this.

Good Luck to you and your family...

I did it !

 

[spicey]

I had direct experience in the field as well. Why is a fixed deposit not run as a normal account and only a certificate is issued like shares and why is it "liquidated" into a normal account at maturity? For fixing your fund, you are giving your bank to use your money for over a period of time. You are buying period from the bank logically. You are entering a business with the bank with an agreement to give you back at that time. It has become an asset (Fixed) to you while it is a liability to the back. This is where the name implies. Can you say money you borrowed your friend with an agreement can be used instantly? No. A fixed deposit that is over a year is a fixed asset. On the issue of the interest rate, are you aware that the bank can reduce the interest rate in accordance with the prevailing market rate which would be a clause in the agreement. You are not loosing physically with your money, but as a financial analyst based on the time value of money, you will have some loss beacause if you have engaged in other form of business, you may make more money than tieing your money in the bank. In the real sense, a fixed deposit is an investment that is comparable to stock investment and it is not liquid. You can not generate any statement of account for it and that is why it is tied to a normal current or saving account because they are liquid account.

O yes buddy, you have the knack but still misunderstood the reasonings behind Fixed Term Deposit.

A depositor has the right to call back his deposit. Fixed Term Deposits are raw cash in liquid form except that its set aside for further wealth. Fixed Term deposit still forms part of the Balance Sheet. Unlike Commercial Papers and Bankers Acceptances which are off Balance Sheet Items same as Treasury Bills and Certificates.

The interest on the CPs, BAs TBs and TCs are enjoyed upfront.Also the depositors are always aware of where their fund are been placed as it's evidenced in the Certificate.

Please find the components of Fixed Assets to know whether Fixed Deposits are one of such. Fixed Term Deposit are customers fund same as cash deposited in the Bank.

I studied Banking/Finance with a second degree in Corporate Finance.

 

[FSWCIO]

I think term deposit is allowed to prove settlement fund as it's clearly mentioned in policy guideline but Surprisingly they are asking for fixed deposit accounts transaction details when it's not applicable with FDR. I think people doing primary review are not aware of that. We should write a cover letter simply explaining that FDR has no transaction history. Also, those who got saving or current account with a below amount shouldn't enclose that statement at all after FDR translation history request, otherwise they may ignore that FD and consider this account which may cause problem. Rather we should stick to the FD we provided earlier and make them understand transaction history is not applicable with Fixed Deposit as the balance was throughout the same from the staring and end date shown on certificate.

 

[Cansen]

I am having a doubt on fixed deposit over here, for ex: i deposited a amount of $11824 as an FD for 5 years in the month of oct 2014 which will mature in sept 2019, whether it is a liquid cash?.

 

[FSWCIO]

I am having a doubt on fixed deposit over here, for ex: i deposited a amount of $11824 as an FD for 5 years in the month of oct 2014 which will mature in sept 2019, whether it is a liquid cash?.

Yes it is. I am not a banker but I guess you can withrow your money at anytime. You may not get the said interest if you withrow it early but you certainly will get the full amount virgin cash from over the counter.