What Is Show Money

The Show Money or the Proof of funds or the Settlement Funds is usually the biggest problem of an interested applicant for FSW Class.

Although the Show Money is not part of the applicants cost for his or her application for Permanent Residents Visa for Canada.



It is just that since the Government of Canada does not provide financial support to new skilled worker immigrants it is necessary for an applicant to provide proof th he has enough money to support himself and his dependents after he arrives in Canada.

An applicant must provide proof of his funds during the second stage of his application, or the time that he will need to send the full application package to the Visa office of his home country or currently legally residing. As proof the Canadian Embassy will require him that he provides a Bank Certificate showing the amount that was required of him.

Settlement funds is not just a show money. You must be able to satisfy the Visa Officer that the funds you will declare is unencumbered and that it is available for use on your initial settlement in Canada.

The amount of money you need to support your family is determined by the size of your family. These amounts are updated every year.

Settlement Fund Requirement Table

Number of Family Members	Funds Required (in Canadian dollars)
1	$10,833
2	$13,486
3	$16,580
4	$20,130
5	$22,831
6	$25,749
7 or more	$28,668

To establish that you have enough settlement funds, you need to provide the original bank certificate illustrating your deposit which shows the amount you need based on your family size. Since the objective is to convince the Visa Officer that the funds you declare is available for use, unencumbered and not just borrowed, it will help if will also submit bank statements, copy of bank passbooks and or Certificate of Time Deposits if these are available.

Although if you do not do not have a long banking transaction history showing the accumulation of your funds, this is not a cause for worry. What is important is that you be able to explain, if asked, where did your money came from.

Question: What if, for example, you sold one of your properties to come up with the required funds, then deposited the proceeds in a new bank account you have opened. Since it will appear that the account was just newly opened and you have made a one-time deposit of, say, P500,000.00. will this be a problem?

No. That is because you can simply explain where the money came from supported by the deed of sale of the property you sold.

Now, if you have real properties under your name, it is best that you also declare them in your Personal Net Worth Statement as well but for as long as you have enough funds, it is not necessary for you to have real properties.

So there's no need to ask your parents to transfer those land titles under your name.

Settlement fund requirement or show money is no longer required if you have an Arranged Employment Opinion (AEO). It is not easy to find an employer who is willing to process an AEO for but not impossible, I have clients who were able to get AEO's.

But you would have to exert a lot of effort to do this, the more applications you send, the better are the chances that you will find that 1 employer who will be willing to help you process your Arranged Employment.

A lot of applicants, think that they can not apply for the FSW Program because they think that they do not have this amount but, they are usually wrong, they come to us and with proper explanation, they would realize that they have this requirement after all.

So, how much money should you bring in Canada?

Find out how much it costs to live where you are planning to settle in Canada.

Bring as much money as possible to make moving and finding a home in Canada easier.

Important Note: Disclosure of funds

If you are carrying more than C$10,000, you must tell the Canadian official you will talk to when you arrive in Canada that you have this amount. If you do not tell an official, you may be fined or put in prison.

These funds could be in the form of:

* cash
* securities in bearer form (for example, stocks, bonds, debentures, treasury bills) or
* negotiable instruments in bearer form (for example, bankers’ drafts, cheques, travellers’ cheques or money orders).

If you have more questions about the show money, please give us a call.

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Show Money Or Settlement Funds for Canada

What is commonly known as Show Money for Canada is technically called Canada Settlement Fund.

I am writing another entry about this subject because I get a lot of inquiry about it from my last post Show Money in Canada.

As the regulation dictates, an applicant must be able to show proof that he or she will be able to provide for his personal needs (Food, Clothing, Shelter) for the first 6 months of his stay in Canada.

The proof of his Show Money of Settlement Fund should be in an amount of "Unencumbered Transferable and Available Funds".

Merrian Webster's online Dictionary defines Unencumbered as:

Main Entry: un·en·cum·bered

- free of encumbrance

Main Entry: en·cum·brance

1 : something that encumbers : impediment, burden
2 : a claim (as a mortgage) against property


Which means that Real properties is not included in the proof of Funds; Show Money or Settlement funds. You can present Real Properties as part of your Personal Net Worth Statement but the Visa officer assessing your application will not include it as part of your documentary proof.

The following are samples of documents that you can use for this requirement (you can use either one of or a combination of:


1. Cash - a Bank Certificate showing your required proof based on the Settlement Fund Requirement Table.

2. Cash - Bank Statement showing the amount you have in your account; the transaction details or a combination of several Bank Accounts

3. Termination Value of your current Insurance - If you have acquired Insurance like (Pension, Life, Flexi - Insurance and others), you should check the policy. In it you will find that, normally, after three years of continuous payments the Insurance company will pay back a portion of the money you have been paying them, if ever you decide to return the policy to them and no longer continue with the Insurance program. This is called your Insurance Termination Value. You can ask your Insurance agent for a Certification of the amount that you will get if ever you will return your plan. You can use this Certificate as part of your proof of Funds.

4. Retirement Plan - If you work in a Company that offers its employees a retirement Plan, and you are already eligible to receive the benefits of the program (early retirement plan for example)you can ask your Human Resource Department to issue a Certification, in your companies security papers (Official Letter head) that you are already eligible to receive the amount allotted to you (net of obligations-loans, cash advances and the like), at any time that you choose to retire. But since the Visa office of Canada is aware that not all companies offers this program to its employees, I would say it is safe to use this if your Company belongs to the Top 5000 corporation of your country.

5. Stocks and Bonds - You may also use Stocks and Bonds as part of your Show Money requirement, the amount that you can use for the value should be based on the published current Market Value of your Investment.

6. Government Service Insurance System (GSIS)Contributions - As a Gov't Employee, you are entitled to Retirement Plan, you can use a Certificate coming from your HR on the allotted retirement benefit and use this as part of your Show Money.

7. Pag - Ibig Fund - If you regularly contribute to the Gov't Pag - Ibig Fund. You can go to the Pag - Ibig Fund office and ask for the Certification of Total contributions made. This too can be used as your Illustration.

There are other ways to prove this, to learn more about the Show Money of Settlement Fund for Canada requirement you can also read my previous blog post - Show Money or you can visit the website of the Citizenship and Immigration Canada - cic.gc.ca.

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Registered Nurse=VIsa for Canada

We first met Mr. George Hansen Reyes, when he came to the office to inquire about getting a work permit for Canada as a Nurse. Since our Company is an Immigration Consultancy Firm for Canada, his inquiry was directed to our Sister Company International Jobs Recruitment Company (I-Jobs).

At that time I-Jobs still had an Employer who was asking for a database of Filipino Nurses bound for Alberta.

Due to his busy schedule, he was not able to attend the Orientation seminar for Alberta, until the time came when the Work Visa applications become scarce due to the current recession in North America.

On the early part of 2008 Mr. Reyes learned about the revised Permanent Visa application for Canada that processed 38 High Demand Occupations. Where if qualified an applicant may get his Canadian Permanent Residents Visa within 6 months to a year.

We filed his application for Permanent Residents Visa for Canada last March 31, 2009 to the Centralized Intake Office (CIO) in Canada.

A month and a half after, May 15, 2009 we received his CIO positive Assessment for Canada, making him Eligible to proceed with the final assessment of his application, the submission of original documentation to the Canadian Embassy.

We filed his original documents to the Canadian Embassy last July 28, 2009.

Got his File Number August 18, 2009

Received Medical Notice Oct. 19, 2009

At this stage the Embassy asked Mr. George Reyes to submit additional documentations to fix a problem with his Personal History as well as asked to undergo additional Medical Procedures.

After the problems were finally solved, we got his Visa Notice December 8, 2009 where he was requested to submit his passport, the Passport of his wife and that of their Dependent child.

Last December 24, 2009 the Canadian Embassy sent us his Permanent Resident Visa.
_________________

If you ask Mr. George if he found his application for Permanent Residents Visa Easy, the answer may be a definite, "No".

But despite the problems that he encountered in his application, he still persisted, went on with his application and now bear fruits to his Efforts by receiving the best Christmas Gift for his Family, a Permanent Residents Visa.

They plan to go to Canada on February 2010. His first order of business, taking the Licensure Examination to allow him to practice his profession as a Nurse, you see Mr. Reyes on top of getting his Permanent Residents Visa was already positively assessed by the College of Registered Nurses of British Columbia (CRNBC). To know how to practice your profession right away, you may read Foreign Credential Referal Office
__________________

This can be your story too, if you have the Education, 4 years Work Experience in the list of 38 High Demand Occupations within the last ten years, then you have a strong Case.

But you have to act Fast the list of Occupations currently in process may change soon. If it does and your occupation was omitted in the list then you can no longer apply. If you are interested, you should take advantage of this great opportunity or else this gift for yourself and your Family will disappear.

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Pampanga Seminar Again

Please be informed that the Angeles City seminar schedule (originally scheduled on jan 17, 2010) will be postponed to Feb 21, 2010. We apologize for the inconvenience this may have caused you.

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Canada Dream- PLAN AHEAD!

It was early December last year when Mr. Benjamin Jamorabo brought us S & R New York Style Pizza received the Canadian Permanent Residence Visa for his whole family. If that isn't a wonderful Christmas gift for his family, I don't know what is.

The Jamorabo family with one of our Senior Consultant at CIC Mall of Asia Office

Mr. Jamorabo is a retired bank examiner and will be moving to Canada together with his family early this year. His elder daughter is a graduating nursing student while the younger daughter will be finishing college, too, few years from now. Do you know what that means?

Since great income opportunities await for his daughters, specially his elder daughter, who most likely will be working as a nurse, it only means Mr. Jamorabo will no longer need to work once they landed in Canada!

Kidding.

It means better quality of life for Mr. Jamorabo and his family. It means a better future for his kids.

It was December 2006 when I first Mr. Jamorabo. He was already 50 years old at that time but still met the pass mark using the points system. Considering his age and the 3-5 years processing during that time, it takes a lot of courage and determination to come up with such a decision.

Using the Simplified Application Process, his application was filed February 2007.

When AINP Family Stream was introduced June 2008, we immediately prepared his application for the program with the end in view of a faster processing.

Imagine their delight when the Ministerial Instruction was issued on November 2008 which identified the 38 High Demand Occupations that eligible for a faster visa processing - 6-12 months only!

After withdrawing his application filed at the Canadian Visa Office in Manila, a new application was filed to Centralized Intake Office (CIO) on Feb 2009 and received the positive assessment a month after. He was classified under Financial Auditors and Accountants.

It was May 2009 when he was able to complete the required documents and submit the same to the Canadian Visa Office in Manila. June 2009, he was required to pay the Right of Permanent Resident Fee (RPRF) and all family members where instructed to undergo medical examination.

After some delays due to some medical concerns in one the family members, their visas were finally issued December 2009!

That's Mr. Jamorabo's plan. A dream come true.

But what about you? Do you also have the courage and determination to make a big decision?

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A Treat From A Succesfull CLient

It's not required, but how could you say NO if a client sent you a round trip ticket to Bohol and requested you to personally deliver their visa instead of them going to Manila? And that the client insists saying that he will be celebrating his birthday and he wants you to be there?

Ms. Pinky Cardillo, one of my colleagues, have just arrived. She was treated by the client to a Bohol country side tour. She went to Panglao Island, to the famous Chocolate Hills and other tourist destinations in Bohol!



Engr. Ene Viba applied as a University Professor. His wife is also an engineer by profession. They will be moving to Canada this April 2010.

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Company Trainors are Eligible Too!

You may not know it but if you are working as a Company Trainer for at least one year within the last 10 years, you may be eligible too under the new Federal Skilled Worker program. Your occupation is actually included in the list of 38 High Demand Occupations classified under College and Other Vocational Instructor. And it does not matter if this is your present job!

Here's a proof.

Ms. Febe Bayona is currenly working as a Sales Officer, which is not included in the list of high demand occupations. But because of her previous experience as a Company Tariner, she was able to get a positive assessment and after submission of supporting documents to the Canadian Visa Office in Manila on Sept 2009, their PR Visas were issued 3 months after!

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