Do we need to show funds necessarily in Canadian Dollars?
In case we have equivalent funds in a foreign bank available,do we need to write a letter explaining the conversion to Canadian dollar
You guys are just making the whole process look more complicated than it really is.
There is a form called "personal Net worth statement" which you need to fill.
(In London @ least ).
It reads:
( I am sure, every other office would have such a form). All you need to do at the initial stage is, be sure , you have the necessary funds ready, as at a later stage you will be asked for a proof before the RRP will be issued.
PERSONAL WORTH STATEMENT Pursuant to Regulations 76(1)(b) of the Immigration and Refugee Protection Act and Regulations, skilled worker
applicants must possess a minimum amount of funds for settlement in Canada, unless they have arranged
employment in Canada (ie. a validated offer of indeterminate employment by Human Resources and Skills
Development Canada).
The funds must be:
1. Available and transferable;
2. Unencumbered by debts or other obligations.
The amount of funds required is calculated by use of the Low Income Cut-Off (LICO) statistic provided by
Statistics Canada. The amount of funds also varies with family size. Currently, the minimum funds required
are:
# OF FAMILY MEMBERS FUNDS REQUIRED 1 CAD$10,168
2 CAD$12,659
3 CAD$15,563
4 CAD$18,895
5 CAD$21,431
6 CAD$24,170
7 CAD$26,910
Complete the attached personal worth statement. Submit it with all supporting documentation (ie. Bank books,
bank statements, property deeds, etc.)
Please note that subsection 16(1) of the Immigration and Refugee Protection Act requires applicants to “answer
truthfully all questions put to them for the purpose of the examination and must produce a visa and all relevant
evidence and documents that the officer reasonably requires.”
In addition, subsection 40(1)(a) of the Immigration and Refugee Protection Act states that “ a foreign national is
inadmissible for misrepresentation for directly or indirectly misrepresenting or withholding material facts
relating to a relevant matter that induces or could induce an error in the administration of this Act.”
Thank you for your co-operation.
ASSETS [ 1 ] Current and Savings Accounts [ 2 ] Fixed Deposits
Account Number Amount Maturity Date Amount
(Specify Currency) (Specify Currency)
TOTAL (in Cdn$): Cdn$ TOTAL (in Cdn $) : Cdn$
[ 3 ] Property *
* Current Property evaluations must be provided at interview.
Complete Address Mortgaged? Market Value
YES NO (Specify Currency)
TOTAL (in Cdn $): Cdn$
[ 4 ] Stocks, Shares, Bonds and Trading Commodities (metals, etc.)
Item Quantity Value Value
(Specify Currency) (in Cdn $)
TOTAL (in Cdn$) : Cdn$
LIABILITIES
[ 5 ] Mortgages
Complete Address Mortgaged Amount
(Specify Currency)
TOTAL (in Cdn $) : Cdn$
[ 6 ] Personal Debts, Legal Obligations* and Other Liabilities
* Legal obligations refer to any contract or court order requiring payment of any kind (e.g. alimony, child support, etc.)
Nature of Obligation Amount
(Specify Currency)
TOTAL (in Cdn$) : Cdn$
====================================================
A. Assets : [total of (1) + (2) + (3) + (4)] _________________________________________________
B. Less Liabilities : [total of (5) + (6)] ___________________________________________________
Equals Net Personal Worth _________________________________________________________
====================================================
Exchange Rate Used : Cdn $1 = __________
====================================================
I certify that the above is a complete and true statement of my personal worth.
Date : ____________________ Signature : ______________________
Value of All Assets Already in Canada
Funds to Accompany
Assets to be Transferred Later
TOTAL (in Cdn $) : Cdn$
__________________________________
Signature / Date
Hope this helps?
Immigration Forum
