Asivad refers to Qorax's post when he says 6 years old: http colon //www dot canadavisa dot com/canada-immigration-discussion-board/proof-of-landing-funds-t39318.0 dot html
Hi Asivad,
Can you please give more details on the more latest happenings that would invalidate Qorax? INR is still not a developed world currency and India still does not have the first-world stature. There are still chances for a random CBSA officer to question an Indian bank statement as doubtful, isn't it?
No. As I said earlier, what worked for IRCC will work at landing. In addition to that, you may be asked for POF at landing. Not everyone gets asked - I wasn't. But I'm not going to generalize from that example hence I maintain that you may be asked for POF at landing and, at that moment, what worked for IRCC will work - you'll need recently dated documents though.
As far as I've read, only negotiable instruments are "carryable" funds. Others, such as stocks, listed in the below link, give rise to many open questions. Can I hold Indian stocks that are worth 15k and show demat account statements as proof of funds?
I repeat, what worked for IRCC will work at landing as POF. Stocks (or other assets including property, vehicles, jewelry etc) don't work for IRCC so they won't work at landing either. You are still free to bring these assets OVER AND ABOVE the required amount of settlement funds but these won't be an acceptable substitute for POF. You would need bank statements proving that you have the required amount available in a Canadian or non-Canadian bank, that the assets aren't unnecessarily volatile (some countries have poorer banking standards, India isn't one of those), that they belong exclusively to you and that they aren't borrowed from anywhere. At landing, I don't expect an officer to interrogate you on the 'borrowing' aspects because IRCC covers that at their end but it doesn't hurt to carry bank statements showing the funds in your name. The other things that would work are travel cards, drafts in your name payable at a Canadian bank and USD/CAD currency - because all of these are readily convertible into CAD and there is no ambiguity as to their value.
I will be really elated if there is any link that says any bank statements are okay to be shown. It is a big pain to convert 18k cad just before flying.
The purpose of asking for settlement funds at the port of entry is to ensure that you can survive for 6 months or more in Canada without an income. In such cases, prudence declares that one carries money into Canada in a manner which is least volatile. Stocks are volatile assets. Funds in the bank aren't. I would recommend that you either open a Canadian bank account from India or ask your bank if they have Canadian operations so that you can easily transfer the money at a later date at your convenience. Documentation supporting any of these activities will also be convincing enough at landing - you don't have to carry 18,000 CAD in person in any form.
http colon //settlement dot org/ontario/immigration-citizenship/landing-and-leaving/landing-in-canada/how-do-i-bring-money-into-canada-proof-of-funds/
