Posted on: 12-01-10 19:03:01
My sister is planning to apply for Canadian permanent residence under FSW1 (family of two) and have these questions in mind:
1. Can someone count his property (house) as transferable funds?
2. Has anyone got accepted by showing $25,000 or below as transferable funds?
3. Is showing more funds helps favourably?
Appreciate if someone can respond.
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sAnToShI
Quote:
Originally posted by santoshi
My sister is planning to apply for Canadian permanent residence under FSW1 (family of two) and have these questions in mind:
1. Can someone count his property (house) as transferable funds?
2. Has anyone got accepted by showing $25,000 or below as transferable funds?
3. Is showing more funds helps favourably?
Appreciate if someone can respond.
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Three yeses don't make sense unless it is followed with a suitable answer.
1) When you own a property, you have some thing called "equity" in it. If the equity in it will enable you to show the allowable amount that you can borrow, then you are RICH. Which is appraised Market value minus the Mortgage on it.
2) All of them did, as long as They have enough funds to show as the support for the two, in this case, they will have a smooth sailing.
3) Of course!! More money, more clout.
You are welcome.
Freddie.
Freddie,
Thanks for valuable input.
Does she has to show the proof at the time of application or later on?
Also how to show "proof of value" of other assets such as jewellery, car etc.?
Santoshi
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sAnToShI
Please find a friendly appraiser and have it evaluated. That goes for the house, car and the jewelery also.
LTCG is free in India. Here in Canada we pay Capital gains tax on it. So, if the evaluation is close to the time of departure, then you have a base value to work with and the gains are from the date of landing here. We pay taxes here on the world income.
These are the input values in the application for the funds at the time of landing.
Freddie.
Thanks Freddie,for ur input.
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sAnToShI
