AINP Family Stream Settlement Funds Requirement
Sunday, June 29, 2008
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After the news about Alberta's Immigrant Nominee Program (AINP) Family Stream category was released on June 19, 2008, I received a lot of emails from clients and readers inquiring about the program.
One of the common questions I received was about the settlement funds requirement-
The Candidate or their spouse or common-law partner (if applicable) or the sponsor must be able to demonstrate that they have the following accessible funds in a recognized Canadian financial institution:at least CAD $10,000 for the Candidate CAD $2,000 for each of the Candidate’s dependents (spouse or common-law partner and children)
Does that mean that you have to open a bank account in Canada? Can a non-resident open an bank account in Canada?
I don't think there are other ways to interpret that specific requirement -that the funds must be in a recognized Canadian financial institution. But just the same, I sent an email to AINP clarifying the matter. I'll update this once I received their reply.
But should that be the case, you can actually open an account with HSBC Bank Canada from another country where there are HSBC operations. Contact HSBC Philippines for information on how to open a bank account in HSBC Canada from within the Philippines.
There might be other Canadian banks here in the Philippines where you may open a bank account if that is really necessary. I think there is a Bank of Nova Scotia branch in Makati, too. My boss used to have an account there.
I'll update this entry as soon as I gathered more information.
6 comments:
The funding requirement is $15,000 for atleast 3 months in a recognized Canadain financial Institution if sponsor cannot provide proof of continuous employment for 12 months (statements not accepted, original stamped bank letter required). Same requirements apply for the candidate - $10,000 for the principal and $2,000 for each dependant. So if you cannot provide proof of employment you need to have a min. of $25,000 in your bank for atleast 3 months.
anonymous,
maybe i missed that when I read about the AINP Family Stream. I'll appreciate if you can point me to your reference.
I thought it's pretty clear that in order for a candidate to be eligible, he/she must have the funds and experience, among other requirements. if he/she doesn't have the funds, the sponsor may fill in. but there is no way, in my opinion, that a minimum of 25,000$ will make for the work experience required.
thanks.
If the principal applicant (candidate) is not able to show the 10,000$ + (2,000$ for each dependent), it can be shown by the sponsor in the recognized canadian financial institution.
Can some body confirm if it will make any impact on the nomination? Also what amount should be filled in schedule 4 for immigration (this copy needs to be provided with AINP form)
thanks,
Salman Makhani,
This is the way it was worded on the guidlines:
The Candidate or their spouse or common-law partner (if applicable) or the sponsor must be able to demonstrate that they have the following accessible funds in a recognized Canadian financial institution...
The amount you should declare in the application form should be the amount of your cash in bank. it should not be lower than what is required (10,000 for priincipal and 2,000 each for every additional dependents.
Thank you Apol,
As schedule 4 form also needs to be filled with AINP 006 (copy needs to be provided), I believe the same amount (10,000 + 2,000 per dependent), which sponsor is willing to show, be mentioned in schedule 4 form.
harmanjot singh
i am prepare my diploma of automobile after secondary education i have no experience but i would apply in ainp family stream can i apply?
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