techwizard

Hi all,

The sale of my flat is due to be concluded about a week before my wife and I move to Canada.

My solicitor said that it may take up to a week for us to get a cheque for the proceeds of the sale, which may be after we leave for Canada.

This is not really an issue, as the money can be paid into my UK account for later transfer to Canada.

My query concerns how this is represented when we land. At the time of landing, we will have a bank statement that proves we have enough funds in Canada to live off, but it may not include the proceeds of the flat sale.

Do I have to declare this when we land, and if so, how can I show that we have this money ? If not, will we be taxed later when we transfer the money.

Any help would be appreciated.

Regards

GW

snowboardboy

I dont imagine they will be able to tax you because the sale went through while you where still a resident of the UK but it could be a tax related headache. However if you are transfering offshare savings to a local Canada bank they may ask questions but if you simply tell them it is the payment from a previous house sale I dont see them having any issues with it. You can prove the date you entered the country and the date the house sale went through so should be a simple tick in the box.

Darren_And_Karen

Are you going over with a job-offer in hand?

if so, you don't need to proof of funds anyway.

techwizard

No - I do not have a job as yet.

GW

Tempest

No idea if this will work but can you not get a letter from your mortgage provider / solicitor to quote what you will receive from the sale of your house? I'm just thinking a letter from one of them is just as good as a bank statement as they're both just bits of paper...

Just an idea!

bazzz

A cheque? How absurd. Tell your solicitor to stop pissing about and do a BACS or some other form of electronic transfer. There's no reason to be using cheques.

jonnieandmartina

what is the actual limited you are meant to show as "proof of funds" - I seem to be getting the wrong info here, my understanding was that you could fore-go showing a statement and produce funding at a later stage, ie a house sale or similar !!

anyone please advise

bazzz

You need to have the money in available funds when you land; the UK visa office might accept equity in a house at the time of application.

jonnieandmartina

B.. ok does that mean when you arrive, my issue is that i had hoped to travel for one final week recce after recieving my visa (PR) then return to UK for the family - is there a set amount as there also seems some contradition ie i been told 10k CDN$ ??

bazzz

http://cic.gc.ca/english/immigrate/skilled/funds.asp

jonnieandmartina

B.. thanxs however my confusion is do they expect the same ratio for children, ie both under 4 yrs old, or would i be expected to show a statement for the two supporting adults only ??

last time

bazzz

You need to provide funds for four people. So $19,700 according to that chart.