Proof of funds

Old Jan 4th 2008, 6:07 am
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Default Proof of funds

We are planning on visiting Kamloops/medicine hat/lethbridge and vancouver in April on a recce and to get our visas stamped - on the forms received with the visas it states you have to show proof of funds - in what format does this have to be in? Do we need to show this if we are not staying on this visit but coming back to UK then actually emigrating to ca in August.

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Old Jan 4th 2008, 7:46 am
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Default Re: Proof of funds

Hi

Originally Posted by Mikelesley
We are planning on visiting Kamloops/medicine hat/lethbridge and vancouver in April on a recce and to get our visas stamped - on the forms received with the visas it states you have to show proof of funds - in what format does this have to be in? Do we need to show this if we are not staying on this visit but coming back to UK then actually emigrating to ca in August.

Mike&Lesley
1. * cash
* securities in bearer form (for example, stocks, bonds, debentures, treasury bills) or
* negotiable instruments in bearer form (for example, bankers’ drafts, cheques, travellers’ cheques or money orders). An ATM receipt date that day, show sufficient savings.
2. You have to show it on the day you "land" whether you are leaving again is immaterial. Same as you need your goods to follow/accompany lists.
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Old Jan 4th 2008, 8:28 am
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Default Re: Proof of funds

Note that if you're landing from the UK the odds of being asked for proof of funds (rather than just a total amount of funds you'll be bringing in) are close to zero; but you want to have proof with you in case you're the unlucky one who gets asked!
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Old Jan 4th 2008, 9:11 am
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Default Re: Proof of funds

Even though you now have your visas in your passports, you do not need to officially "land" yet. If you are just on a holiday or job interviews, or recce, then just come 'on holiday' and don't worry too much. Just come armed with a return ticket, a clear story of what you are doing, and a winning smile.

When you officially "land" in Canada, you will need to bring your proof of funds, and your "Good to Follow" list, as well as the forms that CHC sent you. I'm probably stating the bleeding obvious, but don't forget you must land within one year of the date of your medical, whenever that was (so if that was before Aug 07, and you want to move over in Aug 08, then you do need to "land" before Aug 08 - hope that makes sense).

Having said all that, it is relatively easy to "land" however ! Compile a Goods to Follow lst (and if you don't actually know yet what you might bring, then list everything in the house! If you don't eventually bring it, it won't matter, but if you want to add something later which wasn't on the list, this could cause you issues) and bring some kind of Proof of Funds - as listed above by another poster (but again, and I like using my brackets, don't I? this may depend on a house-sale or similar, which it seems to for most people moving over. Do you have a few grand sitting in the bank? Bring a recent statement).


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Old Jan 4th 2008, 9:28 am
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Default Re: Proof of funds

We have just received a request for Evidence of Sufficient Settlement Funds from the CHC. We are in Canada on a 3 year work permit and our PR application from Sep 2006 seems to be in the process of being fast tracked. We have already been asked for and provided medicals and now have this additional request. The question is whether there is any benefit in providing evidence of all funds or just enough to meet the minimum requirement?

We have a house in the UK but are not selling it at the moment so I was going to ignore that. Also we have some savings in a UK bank that would exceed the minimum, but again I was planning to leave that in place to cover unforeseen expenses in the UK. We own and are living in a Canadian property which we bought over 2 years ago and I would estimate that there is at least $200K equity in it. Finally both my wife and I are working in full time jobs for Canadian companies.

So the question is what should I declare baring in mind that getting official valuations of property here and in the UK may incur additional expenses and delays?
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Old Jan 4th 2008, 9:39 am
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Default Re: Proof of funds

At this stage solarfish I would just evidence enough to satisfy their procedures. You've been in Canada long enough already - show the minimum that is required, and leave alternative means in the UK as just that. The only thing you need to consider, and perhaps a more tax-wise person can assist - if you do not list, for example, the £100k from your house - then you want to bring the funds to Canada in 18 months time, for example, you might get 'stung' ...

I'll go slightly off topic here - I was once advised to have a nice 'huge' fund proven, because that is listed on the copy of the form they stick back in your passport next to your visa. So if you were bringing in $25k, $250K or $2.5m k, then it is listed. THEN, when you have landed and want to go off and apply for your first car loan, or furniture on credit and have to show them ID, your passport nicely 'happens' to list that you've got spondoolies in the bank, and in fact, don't really need their credit or their loan !!! How true any of that is, I do not know - never needed to test it out - but it sounds good !

Last edited by ann m; Jan 4th 2008 at 9:59 am.
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Old Jan 4th 2008, 9:50 am
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Default Re: Proof of funds

Actually I have just checked the document refered to in the actual request (http://www.cic.gc.ca/english/resourc...s/op/op06e.pdf) and in section 9.2 - Settlement funds, it says the following:

"If the applicant has arranged employment as defined in R82, they do not have to meet these financial requirements."

So I now need to find out what R82 is! I have emailed our immigration lawyer for advice and I'll see what they say. I have another couple of months to provide the information so there is still plenty of time to get it right.

My understanding of the situation with bringing funds in from the sale of what was our primary residence is that we would be 'stung' for profit that has accrued since we left. So any equity in the property up to the end of July 07 should be OK. I guess this would be another reason to get a valuation on the property now.
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