"too much funds can be a negative factor", the lawyer said

[hondubai]

Dear all,
I wanted to share with you a piece of information about funds from a
lawyer. He said don't show too much fund value much more than neccessary; according to him, if you displayed too high amount they would refuse the application and advise you to reapply under investor program and that he encountered some cases refused for that reason.

To what extent you agree with the lawyer?!

 

[ankit_20]

At this point in time investors program is on hold
Probably your lawyer is talking of situation where you show $ 1M in place fo $11-20K

 

[wxyz123]

Dear all,
I wanted to share with you a piece of information about funds from a
lawyer. He said don't show too much fund value much more than neccessary; according to him, if you displayed too high amount they would refuse the application and advise you to reapply under investor program and that he encountered some cases refused for that reason.

To what extent you agree with the lawyer?!

100%. show just a little more than needed

 

[harry12]

Dear all,
I wanted to share with you a piece of information about funds from a
lawyer. He said don't show too much fund value much more than neccessary; according to him, if you displayed too high amount they would refuse the application and advise you to reapply under investor program and that he encountered some cases refused for that reason.

To what extent you agree with the lawyer?!

not so buddy as one of my friend shows property worth Rs. 3-4 crore and jewellery and cash near about 12 lakh in his saving account but he got his visa stamped .

 

[humsafar]

Dear all,
I wanted to share with you a piece of information about funds from a
lawyer. He said don't show too much fund value much more than neccessary; according to him, if you displayed too high amount they would refuse the application and advise you to reapply under investor program and that he encountered some cases refused for that reason.

To what extent you agree with the lawyer?!

I don't think this is true, there is no logic behind this assumption.

 

[mot]

I agree. Better err on the side of caution.

 

[wxyz123]

not so buddy as one of my friend shows property worth Rs. 3-4 crore and jewellery and cash near about 12 lakh in his saving account but he got his visa stamped .

question is why he needed to do that? did he want to prove he is a multimillionare? but why ? if you can get visa with showing just the requisite amount whats the point of showing crores ?? and if you show crores you always need to prove where you got it from?? if somebody has robbed the bank would be hard for him to prove??

 

[Cappuccino]

100%. show just a little more than needed

Our minimum required is $13,801. We stated we intended to take $15,000 - our proof of funds show over $30,000 equity in our property, but we wanted a comfort zone in case currency or house pricing shifted against us- which is why we showed around twice the amount of funds we actually need.

We're also saving money in a savings account and should, by around February 2011, have the required funds in cash anyway should they decide during processing not to accept property or they ask to see additional funding.

But I think it's nice to have a comfort zone since if you only JUST show enough funds they may want to know things like how will you fund the rest of your application - medicals/RPFP/air flight costs/shipping costs of your assets etc, and still have enough settlement funds when you get there?

Wayne.

 

[wxyz123]

Our minimum required is $13,801. We stated we intended to take $15,000 - our proof of funds show over $30,000 equity in our property, but we wanted a comfort zone in case currency or house pricing shifted against us- which is why we showed around twice the amount of funds we actually need.

We're also saving money in a savings account and should, by around February 2011, have the required funds in cash anyway should they decide during processing not to accept property or they ask to see additional funding.

But I think it's nice to have a comfort zone since if you only JUST show enough funds they may want to know things like how will you fund the rest of your application - medicals/RPFP/air flight costs/shipping costs of your assets etc, and still have enough settlement funds when you get there?

Wayne.

i think their requirement should be fullfilled,,, too much or too less is always dangerous

 

[indira_prab]

Our minimum required is $13,801. We stated we intended to take $15,000 - our proof of funds show over $30,000 equity in our property, but we wanted a comfort zone in case currency or house pricing shifted against us- which is why we showed around twice the amount of funds we actually need.

We're also saving money in a savings account and should, by around February 2011, have the required funds in cash anyway should they decide during processing not to accept property or they ask to see additional funding.

But I think it's nice to have a comfort zone since if you only JUST show enough funds they may want to know things like how will you fund the rest of your application - medicals/RPFP/air flight costs/shipping costs of your assets etc, and still have enough settlement funds when you get there?

Wayne.

I agree Wayne, in our case, we are required to show 17000, but we show 20000. Just in case of any conversion ups and downs etc..,.

Thanks,

Indira Prabhakaran.

 

[vibez_well]

not so buddy as one of my friend shows property worth Rs. 3-4 crore and jewellery and cash near about 12 lakh in his saving account but he got his visa stamped .

since you mentioned crores, I assume this friend was Indian. The New Delhi VO checklist doesnt talk about property valuations as acceptable POF. It specifically mentions that jewellery, vehicles etc are not accepted as POF. So the application would have got approved on the merit of the cash (12 Lakhs).

I believe its better to show a little more than required. Why show a huge amt of money if it has no bearing on your application ? the purpose of this is to prove that you have enough money to survive without depending / be a liability on the Govt.

 

[mikenz]

I personally rather show them more than the $13'000.. that kind of amount barely lasts me 3 months here in NZ..I doubt Canada is cheaper..

Disclaimer: This is my personal opinion based on my lifestyle. Your situation might be different, so do not judge me on this!

 

[Gulshan Grover]

Dear all,
I wanted to share with you a piece of information about funds from a
lawyer. He said don't show too much fund value much more than neccessary; according to him, if you displayed too high amount they would refuse the application and advise you to reapply under investor program and that he encountered some cases refused for that reason.

To what extent you agree with the lawyer?!

Certainly not. If you show huge amount, there is a high likelihood of approving your application. Immigration Officer put special attention on funds. More than enough money will suggest him you can economically establish yourself in Canada even if you do not find any job. You can at least open your own business.But the money has to be taxable. If they are black money, the applicant will be in trouble.

 

[wxyz123]

since you mentioned crores, I assume this friend was Indian. The New Delhi VO checklist doesnt talk about property valuations as acceptable POF. It specifically mentions that jewellery, vehicles etc are not accepted as POF. So the application would have got approved on the merit of the cash (12 Lakhs).

I believe its better to show a little more than required. Why show a huge amt of money if it has no bearing on your application ? the purpose of this is to prove that you have enough money to survive without depending / be a liability on the Govt.

i agree only 12 lakhs cash was counted

 

[wxyz123]

Certainly not. If you show huge amount, there is a high likelihood of approving your application. Immigration Officer put special attention on funds. More than enough money will suggest him you can economically establish yourself in Canada even if you do not find any job. You can at least open your own business.But the money has to be taxable. If they are black money, the applicant will be in trouble.

"too much or too less of anything is bad"