Mori

Proof of funds

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Mori

Do publicly traded shares qualify as proof of funds? I mean they can easily be sold and the money transferred to a bank account in a few days.

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Seth

Hey Mori.

As far as I know, they need to be liquid assets and be immediately available for use when you put your feet in Canada. I had a substantial amount as forex investments with Satrix, and that did not count.

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logan
On 8/27/2020 at 12:31 PM, Mori said:

Do publicly traded shares qualify as proof of funds? I mean they can easily be sold and the money transferred to a bank account in a few days.

I suspect that they won't: the funds are subject to the fluctuations in the market (and you could potentially lose all your money). This to me would signify a burden on the funds meaning that they would not be considered unencumbered. Perhaps the best course of action would be to cash enough of it out, transfer it to a savings/cheque account, and keep the proof of the money trail.

Cheerio!

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