Posted on: 16-07-10 12:39:10
I am landing in Canada for the first time next week with my family. We are arriving to have a 3 week vacation just for the purpose of landing within the time limit and hopefully get our PR cards. A couple of questions.
1: I will have no fixed abode while there other than a few hotels. Can the PR cards be issued to the address of friends ?
2: Because we are staying for just 3 weeks - is it still necessary to have the full funds i.e. 20,559 CAD ? I have about 15,000 CAD that I can show - not much else other than assets such as house and car and my own company at home. Are these guys flexible ?
My timing is unfortunate as I would be able to demonstrate significant funds within a week or so of arrival. Working for yourself can have cashflow implications.
Has anyone any experience of this ??
Quote:
Originally posted by macroman
I am landing in Canada for the first time next week with my family. We are arriving to have a 3 week vacation just for the purpose of landing within the time limit and hopefully get our PR cards. A couple of questions.
1: I will have no fixed abode while there other than a few hotels. Can the PR cards be issued to the address of friends ?
2: Because we are staying for just 3 weeks - is it still necessary to have the full funds i.e. 20,559 CAD ? I have about 15,000 CAD that I can show - not much else other than assets such as house and car and my own company at home. Are these guys flexible ?
My timing is unfortunate as I would be able to demonstrate significant funds within a week or so of arrival. Working for yourself can have cashflow implications.
Has anyone any experience of this ??
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YES.
Go to the bank that you deal with and ask for a loan for say $10000 or the equivalent amount. Buy some good stocks with it, such as Reliance, Maruthi NS or Tata Steel and after purchasing the stocks, leave the originals with the bank for security and pledging. Get the Brokers statement with the total value it represents in Rupees. Keep the ORIGINAL copy of the brokers' statement with you. Ask the bank to evaluate the portfolio in Canadian Dollars and bring the evaluation and the Original copy of the Portfolio issued to you by the Broker and the $15,000.00 that you have and provide the same as Proof Of Funds here at landing.
Let us know how you made it.
It might cost you a few bucks, that will get you into Canada. After you return if you have made money with it, cash it and have a nice party on Freddie. You should not loose any money. Also you would not loose any sleep too. They are a very good buy today.
Freddie.
