Skilled worker funds question

12-21-2004, 06:13 PM

Hi,

I have been reading through the skilled worker application process and forms
and have a query on "funds"

Form IMM EG7000 states on page 21 point 10.
""Funds" refers to money in Canadian dollars, and includes the value of any
property you own. It does not include jewellery, cars or other personal
assets.

Schedule 3 states, on point 10 Funds
"Amount of unencumbered transferable and available funds you have, in
Canadian dollars"

then Appendix A, point 11. states under Settlement funds

11. SETTLEMENT FUNDS
(Refer to the "Proof of Funds" section of our Web site
(www.cic.gc.ca/skilled) or the Guide for Federal Skilled Worker Applicants
for exact figures and instructions.)
Provide proof of unencumbered and readily transferable funds in a
convertible currency available for settlement in Canada (for you and your
family members):
. current bank certification letter; or
. evidence of savings balance; or
. fixed or time deposit statements.

My question is, do those three definitions all mean the same thing? To me,
schedule 3 is saying you cannot include the value of property just actual
liquid cash you have in your bank accounts. For me not being able to
include property (or shares?? do they count?) gives a completely different
picture as I do not have a great deal of cash but I own several properties,
all of which would be sold before moving to Canada if my application is
successful.

Thank you in advance,
Paul Graham

12-21-2004, 07:57 PM

If you live in the UK the CHC has been accepting the value of real property
when presented with a professional appraisal and details of any mortgage.
Not all property markets are liquid enough but apparently the CHC thinks the
UK market is OK that way. The value of publicly traded securities can also
be used when properly documented.

__________________
Jim Humphries, former visa officer
"Paul Graham" <> wrote in message
news:cq9ska$l80$...
    > Hi,
    > I have been reading through the skilled worker application process and
    > forms
    > and have a query on "funds"
    > Form IMM EG7000 states on page 21 point 10.
    > ""Funds" refers to money in Canadian dollars, and includes the value of
    > any
    > property you own. It does not include jewellery, cars or other personal
    > assets.
    > Schedule 3 states, on point 10 Funds
    > "Amount of unencumbered transferable and available funds you have, in
    > Canadian dollars"
    > then Appendix A, point 11. states under Settlement funds
    > 11. SETTLEMENT FUNDS
    > (Refer to the "Proof of Funds" section of our Web site
    > (www.cic.gc.ca/skilled) or the Guide for Federal Skilled Worker Applicants
    > for exact figures and instructions.)
    > Provide proof of unencumbered and readily transferable funds in a
    > convertible currency available for settlement in Canada (for you and your
    > family members):
    > . current bank certification letter; or
    > . evidence of savings balance; or
    > . fixed or time deposit statements.
    > My question is, do those three definitions all mean the same thing? To
    > me,
    > schedule 3 is saying you cannot include the value of property just actual
    > liquid cash you have in your bank accounts. For me not being able to
    > include property (or shares?? do they count?) gives a completely different
    > picture as I do not have a great deal of cash but I own several
    > properties,
    > all of which would be sold before moving to Canada if my application is
    > successful.
    > Thank you in advance,
    > Paul Graham
    >

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