this was always a difficult question to answer as CIC were vague on requirements
as a member of another forum I noticed that a few posters were able to show proof of funds by providing a house valuation plus mortgage details showing an overall positive equity
I always accepted these views as being OK, and may have to do this myself
anyway, in my research into another matter, I found the new EG7000 guidelines some enlightening remarks on page 33, but is still silent on the issue of any outstanding mortgage
each country has a different requirement for the proof of funds.
in our visa office we can show properties, even mortgaged properties minus mortgage, pension funds etc. other countries like hongkong, unencumbered cash only.
you should check the "visa office specific instructions" for your country.
Indicate the amount of unencumbered transferable and available funds you have in Canadian dollars. This can include the value of any property you own. However, it does not include jewellery, cars or other personal assets.
i've read the specific visa instructions for hongkong and it says
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.
our specific visa instruction says to:
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.
For all bank accounts held in your name, you must submit bank statements which
show your present account balance and records of entries over the past year. For
assets such as a house, apartment, automobile or land owned by you (and/or your
spouse or common-law partner, if applicable) submit proof of ownership and an
official statement of valuation.
Personal Net Worth Statement
Complete the net worth form at the end of this appendix. All assets and liabilities,
whether located in your country of residence or elsewhere, should be identified.
However, do not include personal items such as jewellery, furniture, etc. All assets
listed must be your own personal holdings and must be documented. The sources
of any funds or assets in your possession for less than one year should be
identified. If you need more space than provided, attach a separate page.
i have provident fund of more than 5000 CAD which is mentioned in my salary slips, but i will be a dependent of principant application (my wife). Would my fund contribute to the total funds my wife is required to show?