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Proof of 'Landing Funds" >>>

Discussion in 'Skilled Worker / Professional Immigration' started by qorax, Apr 15, 2010.

  1. Excellent post Quoraxx ....

    Any thought on having job offer & credit card
    Please let me know if you have info on following...
    Since I am working in USA, once my PR is approved, I would try to get a job before landing... so what
    1.) if I have job offer before landing
    2.) I have good limit in my credit cards ( that take service charges to use out of USA but still I can use it...)
    Does carrying cash for half amount would be acceptable with above two points?
  2. hello everyone, i got visa and land in may we r 2 persons
    1) can 450000 lakh is sufficient to carry 4 2 persons
    2) can i carry 250000 as dollar or TC and remaining as SBI india bank statments
  3. 1. As your case was processed for FSW without AEO* -u'll need to show Landing Funds.
    2. No, Cr Cards are not an acceptable media for POF.

    *The Job Offer obtained 'later' is immaterial.
  4. 1. I wouldn't know about the 450000 Lakh -However someone posted here that the Exch Rate in India is around IRs50=1CAD [with a safety margin]. U may calculate accordingly.

    2. Bank statements -my advice is No, No.

  5. Hi Qorax,

    Your mail of great clarity has removed ambiguity and subjectivity w.r.t the form in which the funds have to be carried at the point of landing.

    Thanks and as usual you have taken the bull by the horn(a burning issue).

  6. hi qorax..how about bringing your international ATM with you?....i think that is also liquid and you may withdraw at any bank in Canada...
  7. Yes, for convenience it is extremely useful [both -the Visa Electron ATM Card, as well as any Cr. Card]. I use it all the time. But unfortunately, it'll not be accepted as a POF.

  8. thanks for the info captain..
    well i have a query on this topic
    if i carry a receipt of fixed deposit of INR 6,00,000 = CAD 13,300 approx and in addition to that cash INR 2,00,000 = CAD 4300 approx then is it counted as i am carrying CAD17,600 as a POF???
    And what amount should i declare at POE in this case? 17600 or 4300?
  9. hello qorax,

    i would like to seek your advice too.

    I am a temporary foreign worker for a 2 year contract under NOC C. I applied for FSW and I am wondering if my work permit and a letter from my employer stating that he is willing to hire me indefinitely if i got my PR will waive my proof of funds?

    I am working to get my ticket(red seal), by then maybe my company will change my contract.

    thank you.
  10. 1. As per me one shouldn't try the 'Landing Funds' with any form of bank statement [an INR FD is also one].
    2. In any case whatever modes carry -the total counts. So that'd be CAD17600.

  11. With an AEO u do not need to show POF.
  12. Dear Qorax,

    I would like to get your kind advise in the following matter:
    I am planning to land in August and after one month coming back to India. (Is it compulsory to open bank account immediately?)

    After that, in next April going again to Canada with my family with as much money I can. The question is, when I open an account this time, do I have to pay tax for the whole amount?

  13. 1. No, there is no compulsion to open a banking a/c. But, where would u keep the money that u bring along? Until & unless u r bringing a draft, which u like to take it back.

    2. On the 2nd arrival there's no need for showing 'landing funds' -u know that. U can always 'open' a bank a/c this time & deposit the draft/cash/TC etc. [that might be treated as your 'landing funds'] -one time. However, any subsequent deposits shall be treated as your 'earnings' from abroad -& that's taxable.

    BTW: Any one deposit -No tax... subsequent deposits -taxable.

  14. Thank you very much Qorax. solved one of my problems.... thanks again.

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