!!!!!!!! Qorax and other Seniors Please Help !!! Very Important !!

[shreya99]

Dear Qorax and Seniors

I wanted to share a debatable issue which is still having 50, 50 agreeability on our entire forum. I have seen in Proof of Funds, stock option will be considered or not, on this particular topic many senior members also thinks it will not be considered as valid one. But when i mailed to CHC New Delhi with similar question I got following reply.
_________________________________________________________________________________________________________________
Dear Sir/Madam,

This is in response to your recent email enquiry to the Immigration Section of the Canadian High Commission in New Delhi.


The amount of funds you need to have in order to settle in Canada depends on the size of your family.  The funds must be available to you and transferable to Canada.  They must be unencumbered by debts or other obligations.  



Number of family members
 Funds required
 
1
 $11,086
 
2
 $13,801
 
3
 $16,967
 
4
 $20,599
 
5
 $23,364
 
6
 $26,350
 
7 or more
 $29,337
 





 

Acceptable proof of funds are:

-bank accounts in your name or the name of your accompanying spouse/common-law partner;

-cashable investments in your name or the name of your accompanying spouse/common-law partner;

-cashable fixed deposits in your name of the name of your accompanying spouse/common-law partner.

 

Not acceptable are:

-bank accounts in someone else's name;

-bank accounts which are joint in your name and someone else (other than your accompanying spouse/common-law partner);

-bank accounts in the name of your spouse who is not accompanying you to Canada ;

-property valuations;

-vehicle valuations;

-jewellery valuations.

 

You are not required to carry your funds in cash when you arrive in Canada.  You are, however, required to show documentary evidence that you have the funds available (in bank accounts or cashable investments), and that they can be transferred to Canada.

 

A port of entry officer in Canada may seek to confirm these funds before granting you permanent residence along with your dependants.  

 

If you have arranged employment in Canada, you do not have to meet these financial requirements.  Arranged employment means that you have an offer of indeterminate employment from an employer in Canada.  You must be either currently working in that employment on a work permit in Canada, or have been issued a labour market opinion has must have been provided by the Human Resources and Skills Development Canada (HRSDC).  In order to be exempt from the minimum funds requirement, the offer of employment must be genuine, the employment must not part-time or seasonal, the wages offered must be consistent with the prevailing wage rate for the occupation, and the working conditions must meet generally accepted Canadian standards.


We trust that this information will be of assistance.


__________________________________________________________________________________________________________________

My question is Wont this sentence" clearly indicates -cashable investments in your name or the name of your accompanying spouse/common-law partner;  that stocks will be considered as valid option?? But still there are lots of different views on this.

I have my allmost all savings in stocks. I just got my AOR. Can you people suggest me also no what should be step for showing POF.

Looking for reply from special Qorax and other seniors.

Shreya

[shreya99]

Waiting for your valuable inputs

[ankit_20]

My opinion is that your stocks are admissible

They may ask for POF again second time after 5-6 months before Visa stamping, as to verify the stock valuation then.

If it is possible for you to book the Profit/loss at this point in time and move cash to FD that would bee safest bet though

[NGE]

Need to know.... please help me.

I showed some cash in May salary bank account in may when i sent full doc to singapore VO. But now I want to withdraw that amount of money to invest some where. Do you think it will effect on my proof of fund?

[arman79]

NGE !

I will advise to defer your investment plans. DO NOT withdraw money will you recieve medical request from Visa Office !

Thats the advise my consultant gave me ! They can verify or even they can ask you updated bank statements ( 6 months ) as per additional documents !

It could certainly effect ! So play safe !

Regards

[ankit_20]

They may ask for updated bank statement at later stage as well. This may be an issue

IF I were you I would not take the risk and play safe

[shreya99]

My opinion is that your stocks are admissible

They may ask for POF again second time after 5-6 months before Visa stamping, as to verify the stock valuation then.

If it is possible for you to book the Profit/loss at this point in time and move cash to FD that would bee safest bet though

Thanks ankit_20,

Its not possible to sell stocks right now, but i can definetely show some cash balance with maximum maintaining for 1 month.

[shreya99]

 :

[shreya99]

Looking for more senior inputs please

[rinks25us]

Looking for more senior inputs please

When I showed mine I treated them as a supplement. It worked..and as far as I remember, that's what my lawyer advised too...

[qorax]

Dear Qorax and Seniors

I wanted to share a debatable issue which is still having 50, 50 agreeability on our entire forum. I have seen in Proof of Funds, stock option will be considered or not, on this particular topic many senior members also thinks it will not be considered as valid one...

Acceptable proof of funds are:

-bank accounts in your name or the name of your accompanying spouse/common-law partner;

-cashable investments in your name or the name of your accompanying spouse/common-law partner;

-cashable fixed deposits in your name of the name of your accompanying spouse/common-law partner.

...Looking for reply from special Qorax and other seniors.

Shreya

Stocks, Bonds, Debentures & financial instruments of the like r fully acceptable POF.
Qorax

[shreya99]

Thank you so much Qorax