Net Worth Immigration Canada

Samara is a successful businesswoman from Angola. While she is quite happy with her current status, Samara intends to move to Canada. Of course, she believes the Canadian lifestyle is one of the best in the world. Nonetheless, Samara is aware that investing in Canada is a serious business. Therefore, she needs a substantial net worth to immigrate to Canada. However, Samara is not quite sure what constitutes net worth for this purpose.

What is the net worth for immigration to Canada?

Generally speaking, net worth means all your assets minus all your liabilities. Of course, you need to convert the asset and liability values to Canadian dollars.

What does count as an asset?

You could consider the following as your assets:

• Real-estate properties – residential, commercial or industrial
• Cash in your bank accounts – savings or checking accounts, and term investments
• Corporate shares – publicly-traded stock shares or private companies’ shares
• Antiques and valuable artworks
• Personal vehicles, boats and motorbikes
• Pensions that are payable in a lump sum
• Financial investments in construction or other projects and businesses
• Any other personal item that has monetary value

Depending on the immigration option, an officer may ignore some of these assets in their calculations. Consequently, consult with your immigration consultant to avoid any issues.

What does count as a debt?

Anything of financial value that you owe to others is a debt. Some examples include:

• Mortgages on properties
• Personal loans
• Credit cards debt
• The outstanding balance on lines of credit
• Any other debt instrument you have used.

Of course, this list is neither inclusive nor exclusive.

How to calculate the net worth for immigration to Canada?

All you need to do is add all your net assets, then deduct all your debts. You may download our net worth spreadsheet to help you with the process. Please note that this is an unofficial tool to assist you with the calculations. We cannot be held responsible for any mistakes in this form. You may not use this for commercial purposes. The government uses other forms, such as Schedule 4A. However, the form they would ask for depends on the method of immigration.

What part of net worth is transferable?

Sometimes, part of your net worth is not transferable. For example, consider the following scenarios:

• There is a lien on the asset.
• You own real estate, but you also have partners, and without their permission, you may not sell the property.

When you calculate your net worth, it is good practice to identify how much of it is transferable to Canada. Of course, some immigration options openly ask you this question.

What part of net worth is liquid?

Loosely speaking, liquid assets are part of your net worth that you could turn into cash quickly. How quickly, you may ask? Think about a week or so. Of course, this is not a financial definition for liquid assets, but for the purpose of immigration to Canada, it is good enough.

What part of net worth is unencumbered?

Unencumbered funds refer to that part of net worth that has no strings attached to it and is readily available to you. Of course, the simplest form of unencumbered funds is the money you have in your personal bank accounts. Presenting other forms of funds as unencumbered is a bit risky. However, use your own judgement.

If you wish to visit or move to Canada, please fill out our free assessment form. We will review it for free, but we will contact you only if we find an opportunity for you. Alternatively, you may book a consultation session. Consultation sessions are not free, but you will receive formal advice from a licensed practitioner.