EE Eligibility Tool - Net worth

[kynno]

Hey guys,

Not sure if this was asked before but I have a questions about net worth that is requested on the EE eligibility tool for the EE profile. Do you take into account all your debts, loans, savings, investment etc and then provide the net worth base on those numbers or can you list the amount required as POF (in my case, that would be the $12500 CAD)?

On a side note, in the case of credit card debts, car loans and such, do you have to declare all of those things and will they (CIC) take them into consideration when evaluating the case?

Please advise.

 

[21Goose]

You need to say that you're bringing more than the minimum, that's all. Loans and debt don't matter. If you get an ITA, then you'll need to provide proof that you have the funds you said (and you can change that post ITA, as long as you keep it above the minimum). This proof is typically in the form of a letter from your bank statement that shows a daily average balance greater than $12,500. If you have large deposits in the past six months, you may need to provide proof that that's your money.

And no, you don't need to declare any loans etc. You just need to show that you have the money in your bank account, and that it's been there for at least six months.