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Immigration Forum / Canada / December 2003



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Follow-up: Funds required by CIC

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CPD - 30 Dec 2003 17:14 GMT
OK, so you either have the (non-borrowed) money or you don't.  Of course, I
imagine that the CIC would look more favorably on money that was earned over
a long period than on some sudden big amount in the bank.

Has anyone experienced or does anyone know if the CIC raises an eyebrow or
doesn't care if the money is provided by parents who are not in Canada, but
who want to help their child migrate to Canada?  Does it matter if the money
is in the local currency or in US dollars?

For this particular example, the child is in his mid-20s, is single, has an
engineering bachelor's degree, has 3 years experience in industrial sales,
has excellent English communication skills but no French, does not have
pre-arranged employment in Canada, never studied or worked in Canada, but
has some first and second degree relatives living there.

Thanks for any info on this.

--------------------------------------

"Andrew Miller" <AndrewMillerREMOVE@REMOVEcanada.com> wrote in message
news:<Ul2Ib.46935$6b2.36834@edtnps84>...

> You either have the money and can prove it or you don't. It is that
simple.

> You may be asked for several months of past bank statements to show that

> funds didn't just appear by some miracle on your account. And if case it

> happened then you need to have logical explanation and evidence to prove

> that you didn't just borrow the money.

> Andrew Miller

> Immigration Consultant

> Vancouver, British Columbia

> email: AndrewMillerREMOVE@REMOVEcanada.com

> (delete REMOVE from the above address before sending email)

> ________________________________

> "CPD" <anonymous@nospam.pls> wrote in message

> news:ue2Ib.696186$Fm2.598564@attbi_s04...

> > I know that the CIC requires CDN$9420 in funds for individual
immigration

> > applicants. I also know that the funds may not be borrowed money, and
that

> > they should be easily moveable and transferable when needed.

> > Can anyone share any other info on what the CIC will look for regarding
this

> > money, e.g., earned from work or business, given by or inherited from
family

> > or friends, how long accumulated or kept in the bank, any assets that
may be

> > considered, any criteria placed on such assets, etc?

> > Thanks for any tips on this.
WebCrawler - 30 Dec 2003 17:59 GMT
CPD --

The important thing here is that the funds should not be a "windfall" gain,
but should be long-term funds.
If the person gets a cash gift from his parents, how is the CHC to know
whether it is a loan or not.
The funds in the bank should be backed by payslips and other sources of
income.

For your other question, it does not matter what kind of currency the funds
are in, as long as they are in a fairly liquid form.
If a person is applying from the US, it would help if the statements are in
USD.
If he is applying from home country, then it will help if the funds are in
the local currency.

> OK, so you either have the (non-borrowed) money or you don't.  Of course, I
> imagine that the CIC would look more favorably on money that was earned over
[quoted text clipped - 62 lines]
>
> > > Thanks for any tips on this.
fedd - 30 Dec 2003 22:04 GMT
Yes, it is pretty good idea that the funds should be backed by payslips and
incomes, if CIC really cares about te fund.
I would then imagine that a lot of applicants from the third world would
then find it is difficult.  One should realize that it is pretty hard for
people in the third world to have a save in 10,000-15,000 Canadian Dollars.

> The funds in the bank should be backed by payslips and other sources of
> income.
[quoted text clipped - 78 lines]
> >
> > > > Thanks for any tips on this.
WebCrawler - 30 Dec 2003 23:16 GMT
Remember that under the skilled worker category, they are looking for
educated, skilled professionals who have several years of work experience.
I agree that it is a lot of money, but they are looking for people who have
made money.

Not kids fresh out of college.
Not people with a truck full of degrees and no professional experience.

Of course, the money immigrants brings is also a source or income for the
Canadian govt. and the financial institutions.
But I think it serves an important purpose too as settlement funds.

> Yes, it is pretty good idea that the funds should be backed by payslips and
> incomes, if CIC really cares about te fund.
>  I would then imagine that a lot of applicants from the third world would
> then find it is difficult.  One should realize that it is pretty hard for
> people in the third world to have a save in 10,000-15,000 Canadian Dollars.
fedd - 31 Dec 2003 07:31 GMT
Can you tell me, in general, how much a professional in China/India/Pakistan
(the major sources) can earn annually? and how much they can save in 3-5
years?

> Remember that under the skilled worker category, they are looking for
> educated, skilled professionals who have several years of work experience.
[quoted text clipped - 15 lines]
> > people in the third world to have a save in 10,000-15,000 Canadian
> Dollars.
WebCrawler - 31 Dec 2003 14:34 GMT
Fedd--

I know what your point is.
I am an Indian myself and have worked in IT in India.
I don't know what the salary ranges are now, but back then they used to be
between Rs. 15,000 - Rs. 30,000 for a medium range software developer.

Project managers and software architects would be in the Rs. 40,000 - Rs.
55,000 range, but then those are usually with > 5 years experience.
Typical project managers have around 8 yrs. experience.

I hear the salary ranges are much lower now-a-days because of the slump in
IT, with people having 5 years experience making less than Rs. 10,000.

That isn't much is it?

But immigrants from India are still the second largest group in Canada.
Which means there are people who have been able to save the required amount
of money.
If this was not true, then where are these people coming from?
Not hundreds, not a thousand, but hundreds of thousands of Indians are
immigrating.

They must have the funds saved up else why would CHC Delhi approve their
cases?

I just don't know enough about the latest salary ranges and saving potential
in India today because I have been away for many years now, but I am sure
that it is possible for some people.

Try getting in touch with some Indians who have immigrated recently under
the skilled category.

Hope this helps.

> Can you tell me, in general, how much a professional in China/India/Pakistan
> (the major sources) can earn annually? and how much they can save in 3-5
[quoted text clipped - 24 lines]
> > > people in the third world to have a save in 10,000-15,000 Canadian
> > Dollars.
slymaple - 31 Dec 2003 15:16 GMT
Folks who come from these places don't rely 100% on their income in
building up their settlement funds. Many have to sell properties to
come up with the liquid funds required. This would explain how in some
instances money seemed to appear 'magically' in one's account. Of
course you should have the documentation to back it up in case they
ask for it. So these takes a little bit of planning. A chinese
colleague who migrated here, had added in his application a copy of
his bank time deposit statement (approx CD$10K). 11 mos. later during
the interview he bought an updated copy of his bank statement plus
quarterly bank statements in case he would be asked. True enough they
asked for it and he had demonstrated that he have that money all
along. When he landed, he was able to find a job immediately so his
fund was hardly touched. He used it instead as a downpayment on a
condo unit.
Remember you need these money for settlement not simply as a 'show
money'. These will help tide you over in your early years of
settlement in case you are not fortunate enough to find a viable work
to support you.

> Can you tell me, in general, how much a professional in China/India/Pakistan
> (the major sources) can earn annually? and how much they can save in 3-5
[quoted text clipped - 24 lines]
> > > people in the third world to have a save in 10,000-15,000 Canadian
> > Dollars.
WebCrawler - 31 Dec 2003 15:50 GMT
Oh yes, that is true.
Immigration to another country requires lot of sacrifices and selling off
property/home/business is one of them.

> Folks who come from these places don't rely 100% on their income in
> building up their settlement funds. Many have to sell properties to
[quoted text clipped - 43 lines]
> > > > people in the third world to have a save in 10,000-15,000 Canadian
> > > Dollars.
 
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