Funds when arriving.
 

Hi,

I joined today and this is my first post but I'm guessing it will be the first of many !!

My PR visas came through in my passports this week after nearly 3 years :thumbsup:

We were originally going to sell up and go for it but are now looking at possibl renting the property in the UK for a short while until we settled and make sure myself and family were happy etc (I know we will be as we lived in the US for 3 years).

Anyway, for a family of 4 we are supposed to have approx £12k when we land which wouldnt have been a problem when we were going to originally sell our house with £35k+ equity in.

When we first land would it be sufficient to show a cartified valuation and letter from the mortgage company showing the mortgage left - hence the £12k ???

Give me a few days and I'll no doubt have a lot more questions :)

Re: Funds when arriving.
 

No, you'll need proof of liquid, accessible funds.

Re: Funds when arriving.
 

Welcome to the forum
Happy surfing
lol
Stef

Re: Funds when arriving.
 

Hi
If you do that...what are you going to live on? They want to see what money you have to support yourself and yours for the first six months. If you are relying on equity figures from your property with no intention of selling, unless you have savings to show...you will come unstuck. After all you cannot eat 'Fresh air'.
lol
Stef

Re: Funds when arriving.
 

Hi,

Thanks for the replies. I’m not saying if we didn’t sell the property we’d go empty handed and would most likely have a minimum of £5-£6000 anyway so we’d be living off grass as well as fresh air J

We are only looking at moving summer 2011 and haven’t decided if to keep the house in the UK or sell as yet but I was mainly concerned that if we put it up for sale after Christmas this year and it hadn’t sold when we leave at least we could show something etc.

We are having a ‘reccy’ at Easter next year for 2-3 weeks when we will first land and have the visas stamped so I’ll aim to pull together the settlement funds before then so I have it liquid. I realise that liquid funds would be immediately available but thought that showing equity may be sufficient. Couldn’t someone just borrow the settlement funds from someone, show this and then give the money back to whoever ?!?!

The plan is to hopefully have a job before my family arrives as a whole so the chances are I’ll be on my own for 2-3 months so wouldn’t need the full £12000 until they arrive. My wife has ‘gone of the boil’ a little with the 3 years for the visas to come through.

I best start saving and looking for a job then J

We are looking at Kelowna/Penticton in BC so if anybody has any good contacts or information for a Programme/Project manager required in those areas then please let me know !

I have so many questions and queries from schooling to work but don’t want to flood the forums with umpteen questions from a Newbie.

Thanks for the help so far.

Cheers

Ian

Re: Funds when arriving.
 

Welcome to the forum.

'You must show that you have enough money to support yourself and your dependants after you arrive in Canada. You cannot borrow this money from another person. You must be able to use this money to support the costs of living for your family'.

You will get no government aid if you run out of cash. With children, this is not a situation you should want to find yourself in.

Re: Funds when arriving.
 

Hi, and welcome to the forum.

As everybody else has said, you cannot use equity in a property when you 'land', only at the initial application stages. When you 'land', you will have to show that you have the ready cash in your bank account (which cannot be borrowed), and CIC can ask you to prove where the money has come from and show that you've had it for a few months.

Also, don't forget that the amount will go up by the time you land (it's increased each year) and that the exchange rate can affect it quite considerably - I believe for a family of four you need just over $20k, which is about £13k now, but a few months ago was around £16k.

Better get Ebaying and saving!! Good luck. :)

Re: Funds when arriving.
 

:) just started with the eBay items funnily enough.

There is no way I'd move my family out without having sufficient funds for them to happily survive.

If I was to go out on my own at first would I have to prove settlement funds for the family of 4 or for just myself and the full amount when they all followed?

I didn't want this to end up in a huge thread and I got the answer on the equity very quick.

Re: Funds when arriving.
 

You all have to 'land', and when you do this then you must show funds for everybody even if only you are staying initially and everybody else will be returning to the UK.

It's the final thing they check before activating your PR status, so you have to show it for everybody regardless of circumstances I'm afraid.

Hope that helps. :)

Re: Funds when arriving.
 

Perfect. Thanks.

My immigration lawyer had informed me that as long as I was the first to land being the principal applicant my family could follow.

Glad you told me that or I could have come unstuck

Thanks everyone for the replies - until the next one!

Re: Funds when arriving.
 

They can all follow, but they still have to land within the validity of the visa (i.e. a year from the date of the medicals), and even if you do land first, you still have to prove funds for all of them.

:)

Re: Funds when arriving.
 

Ah, now it makes sense.

Onto the job search now.... Not looking forward to that when I'm here and need a job there.


Cheers

Re: Funds when arriving.
 

Job Hunting section of the Wiki ^^^^^^

Essential reading! Grab a cuppa and get started, good luck. :fingerscrossed:

Re: Funds when arriving.
 

Do I have to have the liquid funds in Canadian dollars or can they be in British pounds.
And how much should I show in funds for a family of 3 people ?

Re: Funds when arriving.
 

pounds are fine.