+1(514) 937-9445 or Toll-free (Canada & US) +1 (888) 947-9445

Self-Employed Application 2019

typeaimages

Star Member
Apr 1, 2020
100
31
My lawyer said they typically only require a positive net worth and the same required funding as Express Entry? Can anyone who has been through the process all the way through confirm this.

I am so confused about what they're ultimately looking for us to show as far as finances. They want us to show we can set up our business and support our families, but what does that MEAN? In #'s.
 

ParuMani

Star Member
Feb 23, 2020
74
11
Holy Cow. $100,000 Liquid?! That seems like a lot. Do they consider IRA's liquid, considering I CAN access them (just with paying a penalty tax-wise)?
110 k liquid and 300k net worth as of date,, more inheritance family property after a few years
We have shown around this amount but still not sure if its enough to get the application through..
 

typeaimages

Star Member
Apr 1, 2020
100
31
110 k liquid and 300k net worth as of date,, more inheritance family property after a few years
We have shown around this amount but still not sure if its enough to get the application through..
I think that might be just for the Quebec Self Employed stream, man. There's absolutely nothing of that sort of amount listed for the regular SE stream. Plus, I think my lawyer would have said something when I turned in my financials. Are you doing the Quebec stream? My lawyer said there are no "hard and fast numbers" for the Federal Self Employed stream but that it helps to have the Express Entry amount for liquid landing funds (with for our family of 5 is around $27,000 CAN)
 

ParuMani

Star Member
Feb 23, 2020
74
11
I think that might be just for the Quebec Self Employed stream, man. There's absolutely nothing of that sort of amount listed for the regular SE stream. Plus, I think my lawyer would have said something when I turned in my financials. Are you doing the Quebec stream? My lawyer said there are no "hard and fast numbers" for the Federal Self Employed stream but that it helps to have the Express Entry amount for liquid landing funds (with for our family of 5 is around $27,000 CAN)
I read in this same forum about an application being sent back because of lack of self financing, net worth less than 100k
 

ParuMani

Star Member
Feb 23, 2020
74
11
I think that might be just for the Quebec Self Employed stream, man. There's absolutely nothing of that sort of amount listed for the regular SE stream. Plus, I think my lawyer would have said something when I turned in my financials. Are you doing the Quebec stream? My lawyer said there are no "hard and fast numbers" for the Federal Self Employed stream but that it helps to have the Express Entry amount for liquid landing funds (with for our family of 5 is around $27,000 CAN)
I will try to find the original listing of the refusal .. meanwhile this is something that can help you

https://www.settler.ca/english/net-worth-self-employed-immigration-canada/
 
  • Like
Reactions: comerunning19

typeaimages

Star Member
Apr 1, 2020
100
31
Similar question: Anyone know how assessors/immigration people view IRAs/Money Market Accounts? These are not technically immediately liquid as we are under age 59 1/2, but they are able to be accessed (with taxes and penalties applied for early withdrawal). I know these are considered within your Net Worth, but are they considered in your liquid funds?
 

danishyasin33

Newbie
Aug 29, 2020
7
2
Category........
BUSINESS
Visa Office......
Nova Scotia
App. Filed.......
06-06-2020
That was before the pandemic, while during the pandemic (AOR) is taking more han 6 months to be received.
My application was delivered on 25th of march 2020 and still didn't receive the AOR.
Have you received an AOR yet? I still haven't heard anything.
 

danishyasin33

Newbie
Aug 29, 2020
7
2
Category........
BUSINESS
Visa Office......
Nova Scotia
App. Filed.......
06-06-2020
No dear, not yet !!!!
Now it is almost 7 months, if time to receive an AoR will take more than 7 months, what about the whole process....
Yes.. It's a depressing situation now :/