×

Languages

  • English
    • French
    • Spanish
    • Arabic
    • Portuguese (Portugal)
    • Russian

Canada Immigration and Visa Information. Canadian Immigration Services and Free Online Evaluation.

Canada Immigration and Visa Information. Canadian Immigration Services and Free Online Evaluation.

Immigration.ca is a comprehensive portal for Immigration to Canada

T: +1 (514) 487-2011
Email: [email protected]

Canadian Citizenship & Immigration Resource Center Inc.
4999 Ste-Catherine St. W<br>Suite 515<br>Montreal, Quebec<br>Canada H3Z 1T3

Open in Google Maps
QUESTIONS? CALL: +1 (514) 487-2011
  • CONTACT US
  • NEWS
  • SUPPORT
  • LANGUAGES
    • English English
    • Français Français
    • Español Español
    • العربية العربية
    • Português Português
    • Русский Русский
  • HOME
  • PROFILE
    • Immigration Attorney Profile – Colin Singer is an experienced authority on all aspects of Canadian immigration.
    • Authorized by the Government of Canada – Colin Singer has been a licensed immigration lawyer in good standing with a Canadian Law Society for over 25+ years.
    • Our Team – Our team of more than 25 licensed lawyers, immigration consultants and technical staff is ready to provide you with the immigration advice your need.
    • Why Hire an Immigration Lawyer? – The decision to move to Canada is life-changing. A lawyer can help maximize your chances of success and realize your immigration project.
    • Client References – The Quebec law society regulates the way lawyers are allowed to publish references from former clients.
    • Colin Singer Wikipedia Profile

    • Attorney Colin R. Singer

      Colin R. Singer is a licensed immigration lawyer in good standing with a Canadian Law Society during the past 25+ years.

    • Introduction to Immigration.ca Website


    • IMMIGRATION
      • Express Entry Overview
        • Express Entry Immigration Draws
        • Express Entry for Skilled Immigration
        • Comprehensive Ranking System
        • Invitations to Apply for Permanent Residence
      • Federal Skilled Worker
        • Who Qualifies as a Skilled Worker?
        • Eligible Occupations
        • How Can We Help You Immigrate?
      • Federal Skilled Trades
      • Canadian Experience Class

      • Provincial Immigration
        • Alberta
        • British Columbia
        • Manitoba
        • New Brunswick
        • Newfoundland
        • Northwest Territories
        • Nova Scotia
        • Ontario
        • Prince Edward Island
        • Saskatchewan
        • Yukon
      • Quebec Immigration
        • Quebec Skilled Worker
        • Quebec Business Immigration
        • Quebec Experience Program (PEQ)
      • Atlantic Immigration Pilot
        • Canada Launches New Rural and Northern Immigration Pilot

      • Sponsorship Immigration
        • Sponsor Your Spouse or Common-Law Partner
        • Sponsor Your Parents & Grandparents
      • Criminal Inadmissibility
        • Impaired Driving Convictions
        • Individual Criminality
        • Organized Crime
        • Rehabilitation
        • Temporary Residence Permits
      • Canadian Citizenship
        • Benefits of Canadian Citizenship
        • Language Requirements
        • Residency Requirements
      • Refugee Immigration

      • BUSINESS
        • Canada offers the most established and widely-used investment-based immigration programs conferring permanent resident status


        • Canada Business Immigration
        • Provincial Entrepreneurs Programs
        • Self-Employed Programs
        • Start-up Visa
        • International Business Immigration Programs
        • Buy a Business

        • Quebec Entrepreneurs Program
        • Quebec Investor Program

        • Evaluation Form


          Fill out our FREE Immigration Evaluation Form and we will advise you within 48 Hours if you qualify to Immigrate to Canada.



          Click Here

        • TEMPORARY VISA
          • Canada Temporary Visa Overview – Have you made your decision to come to Canada as a temporary resident? Find out if you require a visa or an eTA.
          • Canada Visit/Tourist Visa – Do you want to visit your family and all the beautiful places Canada has to offer? You may need a tourist visa (TRV) to visit Canada.
          • Electronic Travel Authorization (eTA) – Are you a foreign national exempt from a TRV? You may need an eTA.
          • Canada Student Visa – You have been admitted to your chosen university? It is time to apply for a study permit.
          • Canada Work Permit – You found a sponsoring employer and you are eager to start your experience in Canada? Obtaining a work permit may be the solution for you.
          • Parents and Grandparents Super Visa – If you want your parents or grandparents to come visit for a longer period of time, a super visa may be the best solution.

          • STUDY
            • Why Study in Canada?
            • Student Direct Stream
            • Study in Canada News Articles
            • Study in Canada FAQ

            • Study in Canada: Steps
              • Step-by-Step Guide for International Students
              • How International Students Can Immigrate to Canada
              • Find Universities in Canada
              • Find Colleges in Canada
              • Get Admission to a University or College
              • Online IELTS Courses
              • Language Tests Converter
              • Financial Requirements
            • Work and Study in Canada
              • Work and Study in Canada
              • Internships and Co-Op Programs
              • On-Campus Work
              • Off-Campus Work
            • Work After Graduation
              • Work After Graduation
              • Post Graduation Work Permit
            • Studying in Quebec
              • Conditions to Qualify under PEQ – Graduate of Quebec Stream
              • How to Prove French Abilities under PEQ
              • Financial Requirements to Study in Quebec

            • EMPLOYMENT
              • Employment & Recruitment
                • Canada Priority Residence Program (CPRP)
                • Canada Employers
                • Job Search for Immigrants
                • Recruitment Team
              • Work Permits
                • LMIA-Based Work Permits
                • LMIA-Exemptions
                • Work Permit Exemptions
                • Open Work Permits
                • Global Skills Stream
                • International Mobility Program
                • International Experience Canada Program
                • Working in Quebec
                • Live-in Caregivers
              • The Application Process
                • How to Apply for a Work Permit?
                • What Happens After Submission?
                • How to Change or Extend Your Work Permit?
              • Working While Studying
                • Work on Campus
                • Work off Campus

              • Evaluation Form


                Fill out our FREE Immigration Evaluation Form and we will advise you within 48 Hours if you qualify to Immigrate to Canada.



                Click Here

              FREEEVALUATION
              • Refugees Free Canadian Immigration Evaluation
                Click Here

              Guidelines Pertaining to Concerns about the Documentation and Provenance of Funds

              by Colin R. Singer / Monday, 29 August 2016 / Published in Immigration, Immigration Manuals

              The Guidelines Pertaining to Concerns about the Documentation and Provenance of Funds

              The authorities require business immigrants to have a net worth. In addition, they require business immigrants to have the relevant business experience as well. However, the officers have the ability to require evidence for establishing the admissibility of the applicant. Moreover, they have the power to reject an applicant for failing to discharge the obligation as well.

              The provisions specified in A16 (1) impose the obligation on applicants to ‘answer truthfully’ and ‘produce all relevant evidence and documents’ that the officer requests for. Similarly, the provisions specified in A11 (1) instructs officers to issue visas only if the officer ‘is satisfied that the foreign national is not inadmissible and meets the requirements of the Act.’

              The Immigration and Refugee Protection Act (IRPA) enables officers to provide broad grounds for rejecting applicants. For instance, A40 (1) (a) carries provisions concerning the rejection of applicants for the misrepresentation of a material fact. It states that the officers could reject applicants ‘for directly or indirectly misrepresenting or withholding material facts relating to a relevant matter that induces or could induce an error in the administration of this Act’. Similarly, A41 (a) provides officers with the authority to find applicants inadmissible for ‘an act of mission which contravenes directly or indirectly a provision of this Act’.

              The Immigration and Refugee Protection Act (IRPA) provides officers with the tools needed for reasonably requiring evidence for establishing admissibility. This is in accordance with the provisions specified in A16 (1). As such, officers could refuse the applicant when they are not satisfied that the applicant is not inadmissible. This is in accordance with the provisions specified in A11 (1). Similarly, officers could refuse applicants when the applicants provide them with false material information. This information could, among other things, pertain to the control and ownership of the business and net worth. This is in accordance with the provisions specified in A40 (1) (a). In addition, the officers could also refuse applicants under the provisions specified in A41 for any act or omission.

              In many cases, organised crime follows a common practice of presenting a legally sound business as a front for criminal activity. This is why the Regulations enable officers to go beyond the specific requirements of the qualifying business and its net worth. Doing this helps officers to examine the context of these figures. For instance, officers would be able to establish the relevant context by obliging applicants to establish the legality of their assets. In this manner, the officers would be able to reasonably require evidence that establishes the legality of the assets of the applicant. In addition, they would easily be able to refuse applicants who:

              • Do not comply with this request as specified in the provisions of A16 (1)
              • Do not meet the presumption as specified in the provisions of A11 (1) or,
              • Purposely dissemble as specified in the provisions of A40 (1) (a)

              By requiring that entrepreneurs and investors demonstrate that they have obtained their net worth legally, the officers would easily be able to weed out any applicants with links to criminal activities.

              However, it is worth highlighting that the risks of applying a legally obtained provision poorly and inaccurately could lead to poor case decisions and jurisprudence. At the same time, its successful use places a considerable evidentiary burden on the officer. In addition, a legally sustainable refusal would also need to deal with issues of defining both ‘legal’ and ‘obtained’. For meeting this policy objective, the provision for legally obtained net worth provides officers with a context to examine the provenance of funds. This would be useful for supporting sustainable rejections under the provisions specified in A11.

              By providing a regulatory obligation for business applicants to establish the legality of their net worth, the authorities:

              • Provide clear rules and expectations for clients and officials
              • Serve to use these as deterrents and,
              • Provide the legal context for officers to examine the provenance of funds of business immigrants and to make legally sustainable refusals

              The relevant documents that the officers would typically need to examine would include:

              • The personal net worth statement
              • The business balance sheet
              • The business financial statements and,
              • The corporate employee payroll

              These documents typically provide an accounting of the applicant’s assets and liabilities. As such, they enable the officers to determine whether the applicants have the required business experience. More details on these statements follows.

              The Personal Net Worth Statement

              The Regulations prescribe a requirement for a minimum net worth of $300,000. However, these Regulations do not specify any requirement for a minimum amount that the investor needs to transfer to Canada.

              What Details Should a Personal Net Worth Statement Typically Include?

              Form IMM 0008E schedule 6 includes the personal net worth statement. This statement captures the business and personal assets and liabilities of:

              • The applicant and,
              • The spouse, common-law partner or conjugal partner

              Therefore, officers would need to:

              • Review this document for satisfying themselves about the completeness, valuation, ownership, existence and presentation of the component assets and liabilities
              • Request the applicants to provide the relevant documentation for supporting the value of assets referred to on this statement
                • Such documents could typically comprise bank statements, property valuations etc.
              • Confirm whether there are any funds that are in non-convertible currencies and,
              • Be mindful of the fact that the prevalent exchange controls might restrict the movement of capital to Canada

              The Business Balance Sheet and the Business Income Statement (Financial Statements)

              It is worth highlighting that when it comes to assessing the applicant, the officers would typically rely on the balance sheet and the income statement. As such, these statements hold great importance for the officers when they review applications.

              Therefore, when reviewing these documents, the officers would need to:

              • Consider the performance of the business over time
                • For this, they would need to request the applicant to provide financial statements for the previous five years for comparative purposes
                • In addition, officers would use these statements for verifying that the applicant met the definition of entrepreneur in at least two of the previous five years
              • Review the income statement for verifying the completeness, measurement, occurrence and presentation of the component revenue and expenses and,
              • Bear in mind that when they review the income statement, the statement remains based on transactions
                • As such, it is advisable that they look at the individual components and not merely the net income, especially in the case of small enterprises

              Note:

              • For instance, business valuators usually normalise income by considering the amount the owner has expended in salaries along with the amount that would be a reasonable salary needed for paying an employee to do the same job
              • It is worth noting that some owners might not charge any salaries at all
              • As such, these individuals could show a considerable net income or alternatively, allocate a large amount to salary expenses and show very little net income, or even a loss for tax purposes
              • Therefore, the officers would need to enquire about the number of employees in the business as well as the amount of salary expenses which the officers could consider attributing to the owner

              The Integrity of the Financial Statements

              Officers would need to consider the integrity of the financial statements provided by the applicant carefully. In Canada, three essential levels of assurance exist for public accountants to provide to the users of financial information. These comprise:

              • Audits
              • Review engagements and,
              • Compilation engagements

              When they get their tax returns professionally prepared, a vast majority of small companies or companies that do not have to report to a bank or other creditors would simply receive a compilation. It is worth mentioning that most countries have a similar range of reporting engagements. This is especially so if the country has had a British influence in the past such as Hong Kong. Such countries would usually follow standards closely aligned to Canadian standards.


              Follow Immigration.ca:

              Follow @immigrationca
              • Tweet

              What you can read next

              Reconsideration of a Negative Humanitarian and Compassionate (H&C) Decision
              Responsibilities Specific to the Account Holder Acting as a Service Provider
              The Procedures in Case the Applicant is Not a Member of the Family Class

              Are you eligible to Immigrate to Canada?

              Find out if you are eligible to immigrate to Canada in less than 48 hours by filling our FREE Online Evaluation form. Click Here. 

               

              Close

              Immigration Manuals

              • Express Entry Manuals

              Archive

              Recent Posts

              • Quebec Court to Hear Legal Challenge Against Government Plan to Apply New Immigration Law Bill 9

                Quebec Court to Hear Legal Challenge Against Government Plan to Apply New Immigration Law Bill 9

              • Canada’s Top 25 Places to Work Named in New Report

                First Express Entry Draw In 3 Weeks Sees 3,350 Invited To Apply

              Site Search

              FREE ONLINE EVALUATION FORM

              Find out if you are eligible to immigrate to Canada in less than 48 hours

              Click Here

              Canada Immigration

              • Home
              • Profile
              • Immigration
              • Temporary Visa
              • Study
              • Employment

              Other Links

              • Canada Case Law
              • Immigration News Articles
              • Immigration Wiki
              • Immigration Manuals
              • Operational Bulletins
              • Online IELTS Courses
              • International Business Programs
              • Universities Evaluation Form
              • Colleges Evaluation Form
              • Publications
              • Wikipedia

              Help

              • Free Immigration Evaluation
              • Immigration Discussion Forum
              • Immigration FAQ
              • Contact Us
              • Telephone Consultation
              • Download Our New Mobile App
              • Link to Us
              • Sitemap
              • Disclaimer
              • Privacy Statement
              • Fraud Alert

              Contact

              Tel: +1 (514) 487-2011


              Fax: +1 (514) 487-2385



              Canadian Citizenship & Immigration Resource Center
              (CCIRC) Inc.

              4999 Ste-Catherine St. W
              Suite 515
              Montreal, Quebec
              Canada H3Z 1T3

              ©Copyright CCIRC Inc. 2019. All rights reserved.

              TOP
              Immigration.ca Logo
              • Free Evaluation
              • Home
              • Profile
                • Immigration Attorney Profile
                • Authorized by the Government of Canada
                • Our Team
                • Why Hire an Immigration Lawyer?
                • Client References
                • Colin Singer Wikipedia Profile
                • Back
              • Immigration
                • Canada Immigration Overview
                • Express Entry Overview
                  • Express Entry
                  • Federal Skilled Worker
                  • Federal Skilled Trades
                  • Canadian Experience Class
                  • Back
                • Provincial Immigration
                • Quebec Immigration
                • Business and Investment Immigration
                • Atlantic Immigration Pilot
                • Sponsorship Immigration
                • Refugee Immigration
                • Criminal Inadmissibility
                • Citizenship
                • Back
              • Temporary Visa
                • Canada Temporary Visa Overview
                • Canada Visit/Tourist Visa
                • Electronic Travel Authorization (eTA)
                • Canada Student Visa
                • Canada Work Permit
                • Parents and Grandparents Super Visa
                • Back
              • Business
                • Canada Business Immigration
                • Provincial Entrepreneurs Programs
                • Self-Employed Programs
                • Start-up Visa
                • International Business Immigration Programs
                • Buy a Business
                • Quebec Entrepreneurs Program
                • Quebec Investor Program
                • Back
              • Study
                • Canada Study Assessment
                • Why Study in Canada?
                • Student Direct Stream
                • Study in Canada: Steps
                  • Study in Canada: Steps
                  • Step-by-Step Guide for International Students
                  • How International Students Can Immigration to Canada
                  • Find Universities in Canada
                  • Find Colleges in Canada
                  • Get Admission to a University or College
                  • Online IELTS Courses
                  • Language Tests Converter
                  • Financial Requirements
                  • Back
                • Work and Study in Canada
                  • Work and Study in Canada
                  • Internships and Co-Op Programs
                  • On-Campus Work
                  • Off-Campus Work
                  • Back
                • Work After Graduation
                  • Work After Graduation
                  • Post Graduation Work Permit
                  • Back
                • Studying in Quebec
                  • Conditions to Qualify under PEQ – Graduate of Quebec Stream
                  • How to Prove French Abilities under PEQ
                  • Financial Requirements to Study in Quebec
                  • Back
                • Study in Canada News Articles
                • Study in Canada FAQ
                • Back
              • Employment
                • Employment & Immigration Programs
                  • Employment & Recruitment
                  • Canada Priority Residence Program (CPRP)
                  • Canada Employers
                  • Job Search for Immigrants
                  • Back
                • Work Permits
                  • Work Permits
                  • LMIA-Based Work Permits
                  • LMIA-Exemptions
                  • Work Permit Exemptions
                  • Open Work Permits
                  • Global Skills Stream
                  • International Mobility Program
                  • International Experience Canada Program
                  • Working in Quebec
                  • Live-in Caregivers
                  • Back
                • The Application Process
                  • How to Apply for a Work Permit?
                  • What Happens After Submission?
                  • How to Change or Extend Your Work Permit?
                  • Back
                • Working While Studying
                  • Work on Campus
                  • Work off Campus
                  • Back
                • Back
              Free Immigration Evaluation
              Click Here

              Free Immigration Evaluation Forms

              • Skilled Worker Assessment
              • Business Immigration Assessment
              • Family Class Sponsorship Assessment
              • Trade Worker Assessment
              • Canada Study Assessment
              • Telephone Consultation