Gold as proof of funds

Old Nov 30th 2009, 1:16 am
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Question 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,
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Old Nov 30th 2009, 1:53 am
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Default 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.
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Old Nov 30th 2009, 1:54 am
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Default Re: Gold as proof of funds

Yes I mean Jewellry !!!!
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Old Nov 30th 2009, 2:01 am
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Default Re: Gold as proof of funds

I was going to say
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
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).
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Old Nov 30th 2009, 3:38 am
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Default 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...
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Old Nov 30th 2009, 3:47 am
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Default Re: Gold as proof of funds

Jewelry is an asset not funds.
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Old Nov 30th 2009, 4:33 am
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Default 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
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Old Nov 30th 2009, 5:00 am
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Default Re: Gold as proof of funds

Originally Posted by johngrimes
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
or just sell it then its cash.
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Old Nov 30th 2009, 10:34 am
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Default 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
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Old Nov 30th 2009, 11:53 am
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Default Re: Gold as proof of funds

Originally Posted by tim010
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
That's when its in lumps in the bank, not dangly bits around the neck. You don't get far in Timmies with gold.
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