Shares and proof of funds

Canada Immigration Forum (discussion group)


 
       
Subject: Shares and proof of funds
  I do not have the required $9,000-odd dollars on my bank account to meet the proof of funds requirements yet. However, I do have a sizeable amount of shares. I have therefore 2 questions:

1) Some of these shares have a lock-up period for the next 2 years, meaning I can´t redeem them before then. If I make an application for a Skilled Worker immigration visa, am I prohibited from quoting these locked-up shares to help make up the $9,000?

2) For the shares that I could liquify, and that I would quote as part of my $9,000, do I need to sell them before I enter Canada so that my assets are "readily available"?

Many thanks for any help you can give!

[13-01-2005,16:56]
Anonymous
(in reply to: Shares and proof of funds)
I think you would be fine. I showed them a great load of fixed frozen assets, most of which won´t available even after I move to Canada (for at least 2-3 years). No complaint or request for additional info from there. My attorney did gasp and wonder if it is all true. I told him he ain´t getting a dime more than what we initially agreed on. I think you would be ok.
[13-01-2005,17:00]
american refuse
(in reply to: Shares and proof of funds)
At the time of application u just need to show paper proof that as and when required, u would be able to provide sufficient funds to sustain ur self in the beginning. But after u get ur landing papers, yes u have to liquidate them and show liquid cash to immigration officer at the port of entry.
[13-01-2005,19:42]
Aki
(in reply to: Shares and proof of funds)
Thanks you guys for you responses, much appreciated! I was going to buy some more shares with a holding period on them, but seeing as I would have to liquidate them just before I enter, and this won´t be possible, I´ll just keep the cash and use that striaght towards my mimimum funds total!

Thanks again guys!

[15-01-2005,07:32]
Anonymous
(in reply to: Shares and proof of funds)
Sorry, just been thinking about this further... ONe more question.

I have roughly $3,000-worth of shares that I will be able to sell in 1 year´s time, i.e. before I would land in Canada (if I get a visa). Currently, however, these shares are locked up (for one more year).

If I apply for a visa next month, can I use these locked up shares towards my $9,000 total (even thought they´re locked up for one more year), so long as I cash them in before entering Canada, whccih would be more than one year from now anyway...?

Cheers again for your thoughts!


[15-01-2005,08:06]
Anonymous
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