|
|
| Subject: Settlement Funds history ( 21K) |
|
|
|
I do have the $ for settlement funds, the CIC says that I should show a banking or savings history of the most recent 12 month period.
Do you think this is true? I mean what if I need the money (like 10K from the 21K) to make a bussinnes? (like buying a car and then selling it) would it be good to have only 10K form the 21k nedeed and as soon as they require the information I put the 11k again in the bank? Do you guys think there?s gonna be a problem?
[13-01-2008,13:06]
[***.58.186.126]
Dan Lea?o |
|
(in reply to: Settlement Funds history ( 21K))
we are not in a position to argue with a letter of instruction from CIC but I must admit, this issue confuses me.
It is not realistic for people to have money sitting in a bank account for years on end while CIC takes its sweet time to process an immigration application. It also does not make sense for someone to liquidate assets when they have no idea if or when they will be required.
What they are trying to avoid is what we affectionately call ´show money´. You borrow against your credit card for 10 days to show a bank balance, or every uncle in town lends you $1,000 so you can show the money and the next day you give it back - and attempting to arrive with no means of financial support.
CIC wants to be clear that you have and will have the money required to establish yourself in Canada. They have set out a grid of minimum requirements. On your original application you indicated how much money you would be bringing with you - now they want to see it.
If some of your settlement money is in assets and investments - I would list them and verify any loans against them so there is a clear indication of net worth and indicate that these assets are what you intend to liquidate upon PR approval.
I guess the worst they can say after that is they want to see the cash.
[13-01-2008,15:22]
[***.121.220.199]
sharon |
|
