Posted on: 26-03-06 09:47:13
I needed an advice on Proof of Funds. I applied in 2004 showing evidence of funds in my account and few days back received from CIC asking to go for medical test and to show proof of funds again.
Now, during this period, I purchased some property and transfered some funds for that. But I am arranging funds again and showing the FD's and bank statement as requested by them, but these will be very recent dated. Will that be a problem? How does CIC verify that the funds are not 'borrowed'. Say if the FD is in my name for next 1 year, will that qualify? And is it necessary that I carry all the shown funds at the time of 1st entry or only the proof is enough?
Thanks in advance for the advices.
Regards
Shijy
Quote:
Originally posted by shijyj
I needed an advice on Proof of Funds. I applied in 2004 showing evidence of funds in my account and few days back received from CIC asking to go for medical test and to show proof of funds again.
Now, during this period, I purchased some property and transfered some funds for that. But I am arranging funds again and showing the FD's and bank statement as requested by them, but these will be very recent dated. Will that be a problem? How does CIC verify that the funds are not 'borrowed'. Say if the FD is in my name for next 1 year, will that qualify? And is it necessary that I carry all the shown funds at the time of 1st entry or only the proof is enough?
Thanks in advance for the advices.
Regards
Shijy
All you need to send is your CA statement alongwith copies of FDs and other liquid assets, preferably notarised. It doesnt matter if the funds are borrowed..they just need to ascertain that u hv enough funds now to pay for your own landing expenses without liquidating your fixed assets (such as property)...
When you physically travel for your 1st landing, you need to possess C$ as a DD in your name (payable in Canada) OR a bank account in Canada in your name with atleast C$14000 (depending upon number od dependents) in that account or DD.
Hope that helps.
Hiren
