Schedule 3 , question No. 10 (Assets, liabilities, settlements funds)

[AlJarad]

Hi All

I am going to do my application for FSW, but I have some confusion regarding the required funds need to be mentined. I have no money in bank account, but I have my own car which cost about 14 000 us$, and flat. How can I answer question No. 10 of IMM 0008_3e?

many thanks in advance for suggestions

[JUNER2011]

Dear,
Value of Car(s) does not count towards POF...ditto for jewellery...
Please note that you need to show/declare unencumbered funds which can be readily available for transfer to canada !
This can include :-
1) Money in bank account --> Yours or accompanying spouse or jointly held...(not in any other person's name)
2) Fixed /Term deposits
3) Value of property which you own -- IN your case you said that u have a flat...

My suggestion would be to mobilize your funds according to the requirement, and show all of the above instead of just providing to CIC the valuation of your property (should not be mortgaged)

Hope that helps..

Regards,
JUNER 2011

[asyousuf]

In addition to what Juner rightly mentioned, make sure to provide latest valuation certificate (from professional valuer and duly notarized) of your property. Buying value is not acceptable.

[AlJarad]

Thanks guys for your advice

I have one more question regarding my flat. Its value is about 50 000 US$, but I wonder if I mention that in application, it will be mandatory to have this figure in the future when the processing of my application will be succeded or they will satisfied only by the  minimum required amount.

my best regards

[JUNER2011]

CIC is satisfied with the minimum amount required as mentioned on their website !! As long as you provide them with the POF through the process (whenever demanded for)...it should not be a problem...
Also, when you are required to land in CANADA after being issued PRV, then too CIC would be satisfied if you carry along with you the minimum amount of funds as mentioned in their website (according to your family composition).

Hope that helps..

Regards,
JUNER 2011