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| Subject: Has anyone here been approved despite low funds? |
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Hi there, I am just wondering if anyone has been approved despite the fact that he wasn´t able to come up with the required funds?
I have a big family and my required funds is really huge. Something like $25,000(Canadian). Thus, my reason for asking.
Thanks a lot.
[08-08-2005,15:30]
[**.39.44.102]
Joe05 |
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(in reply to: Has anyone here been approved despite low funds?)
5 kids??? I pulled this off a website...
There are two significant points to keep in mind when determining the amount of settlement funds for skilled worker immigration:
1. If an applicant is awarded points for arranged employment in Canada then the applicant is not required to show any amount of settlement funds. This is based on the fact that the applicant will have employment on arrival in Canada.
2. Settlement funds can initially be held in property (or other assets) that will be liquidated if the applicant is successful, provided that the property or assets are properly valued. CIC officers are required to given an applicant an opportunity to establish that he or she meets the settlement fund requirements, which gives an applicant a relatively short period in which to liquidate assets, if necessary.
If an applicant cannot satisfy a CIC officer that he or she has sufficient settlement funds, the applicant can be refused admission to Canada.
[08-08-2005,15:53]
[***.20.170.23]
sharon |
(in reply to: Has anyone here been approved despite low funds?)
yes sharon I have 5 kids =)
I actually have real property in my country of citizenship which if considered will be more than the required funds for my family.
I have a follow-up question: Can you define properly valued? Should it be valued by government agency? or a certificate from the homeowners association stating that the properties in that area are priced at $$$ will be enough?
thanks again
[08-08-2005,16:11]
[**.39.44.102]
Joe05 |
(in reply to: Has anyone here been approved despite low funds?)
In Canada we have registered appraisers that work for financial institutions. It is used for mortgage purposes. I would think you might need a value for the property and verification of monies owing against it.
That would clearly show your equity and available cash.
[08-08-2005,19:02]
[***.20.170.23]
sharon |
(in reply to: Has anyone here been approved despite low funds?)
thanks sharon...i´ll have it appraised to be sure...thanks again
[09-08-2005,03:59]
[**.39.44.102]
Joe05 |
