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RWILD

SINP application

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RWILD

So my husband received an ITA with the most recent SINP OID EOI draw on 11 October. In preparing the docs I have two questions:

With regards to his work experience. He claimed for 10 years as this is the period of skilled employment in the OID. 1.5 years of those he had his own company. How would an employment letter work in this instance? He can provide a letter detailing the services his company (he) offered but would he need for example the company registration and / or any other docs?

Then the inevitable POF question............

SINP lists the following:

The following funds will be accepted:

  • Personal chequing or savings accounts
  • Bonds
  • Cash value life insurance
  • Guaranteed Investment Certificate (GICs) or Certificates of Deposit
  • Mutual Funds
  • Provident Funds (an official letter from the provident fund organization indicating the amount of funds that are accessible is required)
  • Registered Retirement Savings Plans (RRSPs)
  • Stocks
  • Tax Free Savings Accounts (TFSAs)
  • Term deposits and time deposits (must be valid at the time of application and remain valid throughout the entire application process)
  • Treasury Bills

Debentures, credit cards, lines of credit, gold, cash, property or businesses are not accepted as settlement funds.

So I am confused. Bonds in my mind can refer to a property bond, correct. But they state property is not accepted. Does this mean a property bond is out of the question and only other types of "bonds" are acceptable? Or is property in this regard only for example if its paid off and you dont have any bond associated with it anymore. (Apologies if this is obvious to most, seems a bit confusing to me).

In addition if one source covers the required funds, do you still need to provide personal bank statements etc. (considering this is only for the provincial nomination and not yet applying for PR).

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GuyRussy

Hi @RWILD,

On your first question regarding bonds, considering the other accepted proof of funds instruments listed, I would presume bonds are in this context long-term debt instruments, such as a government or corporate bond. In other words, it is a financial debt asset, in which the bond holder has a claim to a debt, as issued by the borrower. Thus, holding a bond is a form of financial investment, and can therefore, like others such as stocks and mutual funds, serve as proof of funds, because bonds can be easily sold and converted into cash. 

On your second question, I would imagine that bank statements will still be needed, for checking of outstanding debts with any financial institutions as well as other reasons like the credibility of your proof of funds (some people take chances and take out personal loans or have temporary deposits made into their account/s to satisfy proof of funds).

Hoping the above helps. 

Edited by GuyRussy

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RWILD

Thank you GuyRussy

 

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nabeera

I have been looking for the answer to the same question of Bonds. 

In addition to that, do bonds need to be 3 months old as well as our bank statements should be? And how do we submit bonds information in the application? a copy of bond needs to be submitted or how? 

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