Personal Net Worth (Settlement Funds)
Oct 21st 2004, 1:07 pm
#1
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Joined: Oct 2004
Posts: 29
Personal Net Worth (Settlement Funds)
I understand that fixed assets (e.g. house & lot) maybe included in the personal net worth upon submission of the skilled worker immigrant application. I understand further that this personal net worth with valid supports will be the basis by the Visa Officer to evaluate if the applicant has the necessary funds to support himself or his family for at least first 6 months after landing.
My concern is:
Upon receipt of interview notice (if not waived), normally, an applicant is required to bring along with him some orig documents and/or supports. Some of these are the updated personal net worth or updated bank statements. Is it okay to still include the market value of the house? Anyway, in case the application is approved, there is a ready buyer of the property. For me, it is presumptuous to dispose of the house while the application is in progress? What do you think guys or "immigration experts" out there?
than you,
samarorep
My concern is:
Upon receipt of interview notice (if not waived), normally, an applicant is required to bring along with him some orig documents and/or supports. Some of these are the updated personal net worth or updated bank statements. Is it okay to still include the market value of the house? Anyway, in case the application is approved, there is a ready buyer of the property. For me, it is presumptuous to dispose of the house while the application is in progress? What do you think guys or "immigration experts" out there?
than you,
samarorep
Oct 21st 2004, 1:16 pm
#2
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Joined: May 2004
Posts: 9,708
Re: Personal Net Worth (Settlement Funds)
Hi Sam
The value of the house is NOT supposed to be considered in settlement funds. (Although London appears to be one office that sometimes does consider it.) You have to demonstrate cash via a bank statement on submission of the application and usually a bank statement (last 3 months) before visa is issued.
PMM
Originally Posted by samarorep8888
I understand that fixed assets (e.g. house & lot) maybe included in the personal net worth upon submission of the skilled worker immigrant application. I understand further that this personal net worth with valid supports will be the basis by the Visa Officer to evaluate if the applicant has the necessary funds to support himself or his family for at least first 6 months after landing.
My concern is:
Upon receipt of interview notice (if not waived), normally, an applicant is required to bring along with him some orig documents and/or supports. Some of these are the updated personal net worth or updated bank statements. Is it okay to still include the market value of the house? Anyway, in case the application is approved, there is a ready buyer of the property. For me, it is presumptuous to dispose of the house while the application is in progress? What do you think guys or "immigration experts" out there?
than you,
samarorep
My concern is:
Upon receipt of interview notice (if not waived), normally, an applicant is required to bring along with him some orig documents and/or supports. Some of these are the updated personal net worth or updated bank statements. Is it okay to still include the market value of the house? Anyway, in case the application is approved, there is a ready buyer of the property. For me, it is presumptuous to dispose of the house while the application is in progress? What do you think guys or "immigration experts" out there?
than you,
samarorep
PMM
Oct 21st 2004, 3:32 pm
#3
Just Joined
Thread Starter
Joined: Oct 2004
Posts: 29
Re: Personal Net Worth (Settlement Funds)
Hi PMM,
Thank you for your reply.
fyi, I've asked this thing to a consultant in our country during one of the immigration orientation seminars i attended before i finalized and submitted my application to the embassy. His answer was that - it is okay as long as i have a considerable cash in bank balance aside from the market value of my house & lot. He further said that normally, the Visa Officer will ask me updated bank statements showing the amount that is good enough and applicable settlement funds prior to the issuace of my VISA / COPR.
again, thank you,
samarorep
Thank you for your reply.
fyi, I've asked this thing to a consultant in our country during one of the immigration orientation seminars i attended before i finalized and submitted my application to the embassy. His answer was that - it is okay as long as i have a considerable cash in bank balance aside from the market value of my house & lot. He further said that normally, the Visa Officer will ask me updated bank statements showing the amount that is good enough and applicable settlement funds prior to the issuace of my VISA / COPR.
again, thank you,
samarorep
