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Author Topic: Property as a proof of Fund  (Read 961 times)
devilhimselff
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LANDED..........: Yep...

« Reply #15 on: July 05, 2011, 06:45:37 am »

See the process works in 3 phases...

First your application will be scanned and processed at CIO, they will check your documents etc, Including Proof of Funds. If they call bank and verify, no one can tell you for sure.
They will see if the money has been in your account, and you have not BORROWED it etc from anyone, as it has to be yours. IF there is a large deposit just before sending Application, you should be ready to support where the money came from (sale of property, or something, etc etc).

Then the application is sent to visa office, that is going to be London for Pak. They will re-check your documents, job, etc and also Proof of Funds. Again if they check with the Bank or not, no one can tell you. Same rules as above. And when they check with Bank OR ask you re-send your Bank Statement etc, its always better to be almost inline with the statement you submitted before. I/or anyone else might not give you a 100% answer as to what will happen if you have withdrawn and re-deposited when re-asked for POF. I will not recommend it, as it might give the impression that you are borrowing money as per demand.

Then when your visa is issued, and you Land in Canada. The Visa officer will/might check your Proof of Funds. There it has to be with your, in form of Cash/DD/or Traveler cheques. Some got into trouble presenting Bank Statements at Point of Entry. It can also be an account opened with some Canadian Bank, and money in that, BUT from Pakistan that might not be a possibility. SO its in hand $$ at that time, and offcourse you wont need anything other than that as POF. Also you have to inform the Visa Officer (or someone) if you have more than Ten thousand Canadian $ with you at the time of entry. Not sure (again) if they ask for more documents etc to show where it came from (But I havent heard of anything like that).

And do remember we on forums are all applicants like you, our advice/s are to be taken with caution Smiley
Final decision lies with you.
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theshivster
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Posts: 277
Ratings: +11
Category........: FSW1
Visa Office......: London
NOC Code......: 7215
App. Filed.......: 12-04-2011
AOR Received.: 17-05-2011
IELTS Request: sent with app 8.5 band score
File Transfer...: RBVO 21 June 2011 IN PROCESS 20 Jan 2012
Med's Request: waiting
Med's Done....: waiting
Interview........: I hope not!
Passport Req..: waiting
VISA ISSUED...: waiting
LANDED..........: waiting

« Reply #16 on: July 05, 2011, 02:09:12 pm »

We are using the equity in our property as proof of funds. We had to obtain a written valuation from an estate agent and a copy of the latest mortgage statement. We also had to sign a notarised statement that we would not sell the house until our visas were received. However, we were informed by Campbell Cohen that it is up to the descretion of the visa officer whether they accept this as they prefer the funds to be available at time of application.
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devilhimselff
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Posts: 1334
Ratings: +61
LANDED..........: Yep...

« Reply #17 on: July 05, 2011, 02:20:05 pm »

......However, we were informed by Campbell Cohen that it is up to the descretion of the visa officer whether they accept this as they prefer the funds to be available at time of application.

The margin of error with such a small CAP (500/NOC) is very little. Its always better to be safe...
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theshivster
Hero Member
*****

Posts: 277
Ratings: +11
Category........: FSW1
Visa Office......: London
NOC Code......: 7215
App. Filed.......: 12-04-2011
AOR Received.: 17-05-2011
IELTS Request: sent with app 8.5 band score
File Transfer...: RBVO 21 June 2011 IN PROCESS 20 Jan 2012
Med's Request: waiting
Med's Done....: waiting
Interview........: I hope not!
Passport Req..: waiting
VISA ISSUED...: waiting
LANDED..........: waiting

« Reply #18 on: July 05, 2011, 02:47:03 pm »

The margin of error with such a small CAP (500/NOC) is very little. Its always better to be safe...
I agree with you totally
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asyousuf
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Posts: 1233
Ratings: +48
Category........: FSW1
LANDED..........: April 2011

« Reply #19 on: July 06, 2011, 01:33:54 am »


Hello all,

This might help clarify the issue.

http://www.cic.gc.ca/english/information/applications/guides/EG74.asp

Good luck Smiley
In the marked WEB LINK, pls check below wording in the section of SCHEDUEL 3, POINT NUMBER 10, IMM 0008 which says;

" Funds

Indicate the amount (in Canadian dollars) of unencumbered, transferable and available funds that you have. This amount can include the value of any property that you own, but should not include jewellery, cars or other personal assets"
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ShoaibZ
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Posts: 213
Ratings: +7
Category........: FSW1
Visa Office......: Islamabad-transferred to-London June 26th 2010
NOC Code......: 0213
App. Filed.......: 05-08-2008
Doc's Request.: 04-02-2009
AOR Received.: 30-08-2008
IELTS Request: 14-10-2009
File Transfer...: 30-06-2010
Med's Request: 27-05-2011
Med's Done....: 09-06-2011
Interview........: Waived
Passport Req..: PPR-1 10-04-2012 PPR-2 08-05-2012
VISA ISSUED...: 25-05-2012

« Reply #20 on: July 06, 2011, 01:43:56 am »

In the marked WEB LINK, pls check below wording in the section of SCHEDUEL 3, POINT NUMBER 10, IMM 0008 which says;

" Funds

Indicate the amount (in Canadian dollars) of unencumbered, transferable and available funds that you have. This amount can include the value of any property that you own, but should not include jewellery, cars or other personal assets"


Exactly !!!
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Daisypath Vacation tickers
ciara65
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« Reply #21 on: October 05, 2011, 09:50:03 pm »

Dear all,
   
    I am an applicant from Pakistan . i want to ask from seniors that Can i use my property evaluated by specific authority as a proof of funds ??
i am applying under skilled worker category.

waiting for kind replies ..............


yes you can, in my case, hereinthe philippines we have to submit notarized property titles, and the zonal value of the property or lot we declared aside from that we have also bank deposits time deposits to include but the property must be photocopied and notarzed by a lawyer from the original, then the zonal value was to be original noted by the bureau of internal revenue here inthe phils but you have to inquire in your country what is the equivalent of our system here.
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simple_mind85
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« Reply #22 on: October 05, 2011, 10:20:54 pm »

Hi Ma'am Ciara!

pwede ko po bang i-declare yung binabayaran kong lupa kahit na 75% pa lang po ang nababayaran ko?!1.4M po yung halaga nung lupa.

salamat po!
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Dr.Hasib
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Posts: 3146
Ratings: +246
Category........: FSW1
LANDED..........: 21 Jan 2012

« Reply #23 on: October 05, 2011, 10:37:04 pm »

As far as i know, London VO accepts property valuation. Smiley
Singapore VO, New delhi VO dont  Sad
so it's totally upto visa offices  Grin
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