Aviator

From CIC website.

'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.'

http://www.cic.gc.ca/English/immigra...lled/funds.asp

Bali2010

A related question - not meaning to hijack - can it be more than one account?

Otherwise I will need to rationalise & probably still keep statements from both to prove the funds came from my accounts in the first place.

Thanks
Bali

Aviator

Don't see why it cannot be in a dozen places, so long as you can prove it.

MarkG

Mine was in six different accounts and didn't cause any problems. Of course each account had more than the minimum required total amount .

Bali2010

There isn't a green smilie to express my envy....

Bibendum

LOL, I have stuck my house down as proof of funds and got a house valuation. does that count? it says "unencumbered" so I took off the remainder of the mortgage.

Bali2010

Ah, I wondered about that too when filling in the form for CIO.
In the end, there was some debate about whether it was ok to use equity - some have, but I think the comments were that it is not strictly 100% to the letter of instructions but London seem ok.

In the end I didn't.

I'll look for the thread & add a link.
http://britishexpats.com/forum/showt...ighlight=funds

Bali

Bucks_Family

It's my understanding that London is the only visa office that will accept proof of equity as part of the proof of funds figure, but only for the initial application (after receipt of the 120 day letter) - proof of equity will not be sufficient when you come to land in Canada, then you need the real money in your account.

Aviator

I don't recall ever being asked to show any savings when I moved over.

Bibendum

mmm... in the immigration guide it says "value may be in the form of property or other assets but not in jewellery or cars etc."

seems like double standards?!

stephy

Borrowing some from close relatives are better. You will not touch their money anyway. Like we are doing now due to our application I opened another bank acct. and my in laws will lend us enough amount as our show money. As a security for my in laws money we will just give them all cards, bank book etc issued to us for them to trust us that money will not be touched or spent. That we are genuine that we only need it for our application.

bodgerx

It may have been a while since the Aviator moved. The rule you quote is the current rule.

There are reports of posters here that have landed without being asked for proof of funds at the point of entry, but even those would have had provide the proof at the point of application.

Aviator

Moved in 94/95, was not asked for proof of funds at Port of Entry, may have had to make a statement of net worth with the application though.

christmasoompa

Bear in mind that CIC clearly state the money must not be borrowed - and CIC can ask you to prove it's not and to prove where you obtained it from.

Falcore

We are sending proof of our savings which are over the minimum ammount and then proof of the equity in our house just to be sure!