partnership bank account

[rizwan72]

I am doing computer business along with a computer company on partnership basis with the investment of 50% capital from each side.
Can I show that company's bank account as Proof of fund?
What else I will be needed.

 

[PMM]

Hi

I am doing computer business along with a computer company on partnership basis with the investment of 50% capital from each side.
Can I show that company's bank account as Proof of fund?
What else I will be needed.

No, you need funds in you or your spouse's name.

 

[Mezo2009]

Yes you can provided these as POF provided these funds are convertible. CIC defines funds as:

"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. "

If you can provide an evaluation letter to show the value of the capital and a readiness to liquidate nonconditionally, then you should be fine.

Immigrants have to show funds even in shared ownership of properties provided formal evaluations were done with clear declaration of value, shareholder percentages and readness of liquidation upon request.

Cheers!