Gold as proof of funds
Nov 30th 2009, 1:16 am
#1
Forum Regular
Thread Starter
Joined: Aug 2009
Posts: 34
Gold as proof of funds
Hello Members,
I need to show C$10,830 as the proof of funds. I want to as is that can some of my assets that i need to show, be in the form of gold that i have.
Regards,
I need to show C$10,830 as the proof of funds. I want to as is that can some of my assets that i need to show, be in the form of gold that i have.
Regards,
Nov 30th 2009, 1:53 am
#2
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Joined: Aug 2007
Location: North
Posts: 1,357
Re: Gold as proof of funds
Like gold bars? Or jewelry?
The rules state that the funds have to be liquid. I'm pretty sure they say things like cars and jewelry are not acceptable.
The rules state that the funds have to be liquid. I'm pretty sure they say things like cars and jewelry are not acceptable.
Nov 30th 2009, 1:54 am
#3
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Posts: 34
Re: Gold as proof of funds
Yes I mean Jewellry !!!!
Nov 30th 2009, 2:01 am
#4
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Posts: 556
Re: Gold as proof of funds
I was going to say
But actually, if you are going to move to Canada, then you are likely going to need to convert the gold to cash. So I would think it might make sense to do that now. Then you have a simple verification process, and you do not need to take it in your luggage (and declare it explicitly to Customs when going out of UK and when going into Canada).
I doubt they would accept pictures of a few small gold bars. I could imagine they would be happy with a statement with your gold holdings (e.g. 100 oz) from your depository
Nov 30th 2009, 3:38 am
#5
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Joined: Nov 2009
Location: Somewhere in Hamilton, ON
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Re: Gold as proof of funds
The proof of funds is based on "unencumbered funds" which means basically that it's money that you can use if you need to so I'm pretty sure jewelry is no good...
Nov 30th 2009, 3:47 am
#6
Joined: Sep 2008
Posts: 12,830
Re: Gold as proof of funds
Jewelry is an asset not funds.
Nov 30th 2009, 4:33 am
#7
Forum Regular
Joined: Sep 2009
Location: Nova Scotia...
Posts: 141
Re: Gold as proof of funds
Like gold bars? Or jewelry?
The rules state that the funds have to be liquid. I'm pretty sure they say things like cars and jewelry are not acceptable.
Take a hot furnace with you and melt the Gold....then it will be liquid
The rules state that the funds have to be liquid. I'm pretty sure they say things like cars and jewelry are not acceptable.
Take a hot furnace with you and melt the Gold....then it will be liquid
Nov 30th 2009, 10:34 am
#9
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Joined: Sep 2008
Location: Edmonton, AB
Posts: 449
Re: Gold as proof of funds
Gold has always been known as the currency of last resort. If all other currencies fail then gold will be the best currency to have.
I don't think immigration will see it that way though
Tim
I don't think immigration will see it that way though
Tim
Nov 30th 2009, 11:53 am
#10
Joined: Sep 2008
Posts: 12,830
Re: Gold as proof of funds
That's when its in lumps in the bank, not dangly bits around the neck. You don't get far in Timmies with gold.
