Hi fellow Pinoy applicants! Eto naman yung case naman ngayon, hopefully someone can help enlighten us (sorry kung medyo mahaba!).
We're 5 in the family so our required POF/SF amounts to $22,831 (in CAD). According to our Personal Net Worth Statement, our total net worth was is estimated to be around $182,000. However, the majority of that amount is in the form of properties/land and some insurance.
As for liquid assets alone (as in just cash in the bank), we currently do not have $22,831. According to the COEs (Certificate of Employment) that we sent though, the net income of the principal applicant's spouse is almost equivalent to $22,831/year (will this aid in our case?).
All that said, as far as financial requirements go, how are we doing...do we make the cut? We discussed this with our representative in the past and they did not give us negative feedback or discourage our application because of this (money reasons).
As for the embassy naman, so far they have not asked for any additional or updated documents (i.e. updated Personal Net Worth statement) but of course we just want to be ready in case (pero siyempre we're praying na PPR na agad ang sumunod!).
The embassy has only gotten in touch with us twice from the time we received our AOR: 1st time was via phone, mainly to tell us that they're releasing some original docs that we sent (specifically our original bank statement/s and an original university diploma) because they're through reviewing them. We understand that it's not typical for the embassy to call applicants so we were a bit apprehensive during that time...good thing we got past that stage!
2nd time was already request for medicals & request for RPRF payment. Despite certain delays on our part and the part of Nationwide (where we did our medicals), natapos din naman yung dalawang requirements na 'yun. According to Nationwide, they will forward all our final results to the embassy within the next 2 weeks.
Ngayon yung concern namin is this: Will the embassy still question our application, specifically our financial standing (POF/SF)? We are hoping na hindi na sila mag-request for additional or updated docs (i.e. updated bank statements, Personal Net Worth statements, etc.) but is this likely pa ba at this stage...madalas bang nangyayari yun?
Recently, we put 1 of our properties up for sale. Yung selling price niya is more than the required POF/SF. Kung mabilis naming mabenta toh at if ever magtanong ang CIC after the sale, walang problema kasi may maipapakita na kami tapos more than the required amount pa. Ang concern namin is, paano kung hindi mabenta agad? Advisable ba to get into a deal (loan) w/ the bank or some other institution, using land/property as collateral...?
Please advice. Thank you and best of luck to all...may our visas be granted soon.