Regarding Funds to be shown

[saranyaaretla]

Hi,

I've applied for the FSWP and my ECA application is under evaluation. I was told that I need to show funds of 7 Lakhs on my name. I would like to know for how long should I holds these funds in my account. Is it until I get my visa or until I land in CANADA? Could someone from a reliable source shed some light on this.

Thank you

 

[future_canadian]

You must demonstrate adequate settlement funds to support yourself and your family to establish yourself in Canada.

http://www.cic.gc.ca/english/information/applications/guides/EG7TOC.asp#funds

http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

This money must be in the form of liquid and unencumbered funds such as cash, fixed deposits, stocks and bonds that can be sold quickly, mutual funds, or similar. Non-liquid assets like houses, property, jewelry, cars are not acceptable.

The funds must also be yours or your spouse's, not owned jointly with any other person beside your spouse (including another family member) and not borrowed.

You must provide basic evidence that you have these funds at the time of your application. A bank statement will suffice. After the initial review of your application, your file will be transferred to your local visa office for background checks, medical tests, etc. At this time the local visa office may ask for fresh evidence of your settlement funds. Each case is different. A request for the previous 6 months of bank statements is typical, but if the reviewer has some reason to doubt the authenticity of your evidence, or doubt that the funds are really yours, or any other reason to suspect irregularity or misrepresentation, they may ask for more. You are also more likely to be scrutinized if you are from a country with a high rate of immigration fraud. Unfortunately, India is one of those countries.

You will also need to bring the funds with you when you land in Canada. Upon first entering Canada you will need to declare the assets you are bringing with you into Canada from your home country, and the settlement funds are a requirement, because the government wants immigrants to be able to establish themselves and not become dependent upon welfare. There are some good threads on this forum devoted to the landing experience and requirements, I suggest you read those for further details.

I also suggest you peruse the main 2014 applicants thread, there has been a great deal of discussion of settlement funds in that thread.

 

[hardworkpays]

You must demonstrate adequate settlement funds to support yourself and your family to establish yourself in Canada.

http://www.cic.gc.ca/english/information/applications/guides/EG7TOC.asp#funds

http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

This money must be in the form of liquid and unencumbered funds such as cash, fixed deposits, stocks and bonds that can be sold quickly, mutual funds, or similar. Non-liquid assets like houses, property, jewelry, cars are not acceptable.

The funds must also be yours or your spouse's, not owned jointly with any other person beside your spouse (including another family member) and not borrowed.

You must provide basic evidence that you have these funds at the time of your application. A bank statement will suffice. After the initial review of your application, your file will be transferred to your local visa office for background checks, medical tests, etc. At this time the local visa office may ask for fresh evidence of your settlement funds. Each case is different. A request for the previous 6 months of bank statements is typical, but if the reviewer has some reason to doubt the authenticity of your evidence, or doubt that the funds are really yours, or any other reason to suspect irregularity or misrepresentation, they may ask for more. You are also more likely to be scrutinized if you are from a country with a high rate of immigration fraud. Unfortunately, India is one of those countries.

You will also need to bring the funds with you when you land in Canada. Upon first entering Canada you will need to declare the assets you are bringing with you into Canada from your home country, and the settlement funds are a requirement, because the government wants immigrants to be able to establish themselves and not become dependent upon welfare. There are some good threads on this forum devoted to the landing experience and requirements, I suggest you read those for further details.

I also suggest you peruse the main 2014 applicants thread, there has been a great deal of discussion of settlement funds in that thread.

I have certificate for funds available in icici bank about...
but its jointly on my father name and my name....

this is not sufficient?