Financial Documents

[CA Covering Letter] (This letter is a Sample) URL: http://usapply.tripod.com/visa/ca_stat.html To Whomsoever It May Concern

This is to certify that Mr. Your-name-here R/o your-address-here is the only son of his parents Shri yourdad'sname-here and Shmt your-mom's-name-here. His family consists of his parents and his sister; he is hence the sole heir. The market value of his family assets is as follows: Land & Buildings Property

Location

Particulars Area Ownership Mkt Value

(Rs. Lakhs)

Location1 Built up residential

property at xxxx, New

Delhi

xxx sq yards Sole Owner xxx.xx

Location2 Ancestral Residential

Property at xxxx Delhi

xxx sq yards 1/5th share of Rs.

xx Crore property

xx.xx

Location3 Commercial Shopping

Complex at xxxx

xxx sq yds 1/4th share of Rs.

xx Crore property

xx.xx

(Rs. Lakhs)

(relation -here)

1/3rd share of

xxxx xxx

1/2 share of

xx xxx

TOTAL xx.xx Business Holdings Company Name Particulars Ownership Value of Share M/s xx xx xx & Co. xxx company at xxxx xxxx,New Delhi M/s xxxx Co. xxxx company at xxxx, xxxx Road, Delhi TOTAL Xxx Bank Balances, Shares & Policies Account Holder Bank

(Rs. Lakhs)

xxx xxx (Self) State

xxxx Bank Savings

Account Details Bank

Bank of xxxx Fixed

Account no. xxxx xxx

Balance

Deposit A/c no. xxxxx xxx

xxx xxxx (relation-here) State Bank of xxxx Savings account no. xxxx Xxxx Grand Total xxxxx * All values in Rs. Lakhs.

TOTAL xxxx

** The market value of assets is based upon the opinion of experts engaged in their respective fields.

Place: …………………….. For CA-company-name-here & Co. Chartered Accountants

(CA-name) Prop.

AFFIDAVIT OF SUPPORT (FORMAT) My self prepared format that I’d sent in the University Applications

This colored space here represents the stamp portion of a stamp paper. To get a stamp paper, you need to go to any of the Local court complexes at your city and the denomination of this particular stamp paper for Visa purpose should be either Rs. 10 or Rs. 20. Although, there is nothing wrong to put in higher denominations, it is not imperative….and could be deemed a waste. This is done for about Rs. 26.00(including commission of stamp vendor for stamp paper of Rs. 20 denomination ) or Rs.14 (including commission of Stamp vendor for stamp paper of Rs. 10 denomination). While purchasing the stamp paper, the stamp paper should be purchased for(i.e on the name of) “xxxxxxx” where “xxxxx” is your sponsor and “for whom” should be written as “Self”. People usually type stamp papers with the vendors at the court complexes, but they don’t do a neat work, so, it better to buy a blank paper and then take it home and print it out. After printing out the contents on the stamp paper(…I did it as I’d written below), you need to go to the court complex in your respective city or to any Notary around your place and have him stamp in the area in the below format marked by” Sworn and signed before me………….”. The notary usually charges around 20 bucks for this. If there are two sponsors for you, then each sponsor should sign a separate affidavit. I read somewhere that an affidavit of support is not required if parents are sponsors, but I don’t think it would hurt to spend 30-40 bucks on each stamp paper to give a complete financial proof. Isn’t it???

Affidavit of Support I, xxxxxxxxxxxxxxxxx Resident of: zzzzzzzzz , do hereby solemnly affirm and state on oath as follows: 1.

That yyyyyyyyy, who is seeking admission in for pursuing his is my son/daughter.

2.

That I have the required financial resources to provide funds for my son’s/daughter’s education at for the course tenure mentioned on the University I-20 and I undertake to support him/her financially till he/she completes his/her education.

3.

I hereby assure you that my son’s/daughter’s educational expenses would be met by me and that he/she would not be a public charge on the American Government.

Hence, this Affidavit of Financial Support. Solemnly affirmed on this, the day of <Month> 2004, at ,<state>, INDIA

……….Signature……… (xxxxxxxxxxxxxxxx)

Deponent



If sponsor is employed then... Salary Certificate (Latest) and Employment Certificate if sponsor is doing a job. If tax is deducted at the source by the company, carry the TDS certificate as well.

If sponsor is a businessman then... Income -Tax Returns of the Company (atleast 2 years).Title / Partnership deed. Passbook of the business account. Balance-sheet. Additional Documents (Not mandatory) Fund Flow Statement Jewellery Evaluation House Evaluation Land Evaluation Things to be kept in your mind while preparing the file and all the other document: § Take both copies of your I -20m (the School Copy as well as the Student Copy). SIGN both the copies. § Carry the original GRE & TOEFL Score reports and produce them when asked for your scores. § Carry the Bank Passbook/Bank Statement (Originals) of your sponsor...In Case of a distant Co-Sponsor, you can carry the photocopies of these documents. § Originals of FDs of your main sponsor are required, whereas Photocopies of FDs of Co-Sponsor will suffice. FINANCIAL QUERIES 1. What is a Summary Statement? A - This lists all your assets and their worth in US Dollars and Indian Rupee. This is especially necessary for the Consulate Office at Mumbai where the officers have openly stated that they dont value CA Statements. 2. How to show bonds? A - Again this is something, which the VISA officers ask for provided they are listed in your Summary Statement. So carry your bonds with you. If you possess too many of them, carry the important ones at least. In addition to this, carry a summary of all the bonds you have. 3. How to show stocks? A - Provided you have dematted your shares, you can carry the transaction statements provided by the institution which has your demat account. Then you neednt carry the physical shares. In case shares are not dematted, carry some of the important physical shares you possess. In addition to this, you may carry a summary of the stocks. 4. Is a CA Statement necessary? A - Not at all necessary for Mumbai Consulate. I know of a few cases where the CA Statement was just thrown aside by the VISA Officer in Mumbai. I think other Consulates still value CA Statements. 5. Is property evaluation necessary? A - Its sufficent to simply carry the property papers. Its unlikely that the VISA officers will ask you for them, but you never know. A formal evaluation from an architect is not necessary at all. Simply list the worth in the summary statement according to what you think it is but dont quote an exaggerated value.

VISA officers dont give importance to the value of your property as they assume you are not going to sell off your property to finance your education. It is essential only to indicate that your roots are in India. 6. Is jewellery evaluation necessary? A - A formal evaluation is not required. Only the approximate worth of the jewellery you own needs to be listed in the Summary Statement. However, dont exaggerate the amount too much. You can quote jewellery of about 2.5 to 4 lacs without evaluating. But for showing values larger than that, you need the evaluation papers. You can get it evaluated from a Jewellery shop, or Govt. approved appraiser. 7. What is a Fund Flow Statement? A - This statement is not essential. But it will help you in demonstrating to the VISA officer, how you are going to actually furnish your expenses. It lists the semester wise breakup of the amount required and what part of your assets will cover for it. 8. Is Affidavit of support required? A - This is NOT required if your sponsor are your parents (which should be the ideal case). However, if its not your parents you will need an affidavit of support from your sponsor notarized on a Rs. 20 Stamp Paper. 9. Who should be the sponsor? A - Ideally, it should be your parents. Even if you dont have the funds with you, try to borrow funds from your relatives, friends etc for the bank statements and then you can return the money. The entire amount borrowed shouldnt be deposited in the bank all of a sudden. It should be in bits and pieces - deposits ranging from Rs. 10000 to Rs.2,00,000 would be fine. I would also recommend you to often pick some money in units of 5000 or 10000 to make it appear as if the account is an active one, and all the money belongs to you.As far as really paying for your education is concerned, you can take a loan or take support from some other sponsor. But try to show to the officer that you havent taken a loan and no external person (not even your uncle / aunty) is sponsoring you. It should be your parents only. 10. How to show funds for the finances? A - The most ideal scenario would be to have the amount equivalent to the first year's expenses in your savings account and the amount equivalent to your second year's expenses in your fixed deposits and/or provident funds. Other assets such as property, stocks, bonds will then serve to show that you are well to do. And it will pose you no problems as far as finances are concerned. However, this is the maximum. The minumum would be to cover your first year's expenses using your savings and fixed deposits and depend on your stocks, bonds, jewellery, property etc for your second year. Make sure that you can show that there is a sufficent amount left even after your second year's expenses so that they dont think that you will have nothing left after your education. You can arrange for any amount above the minimum specified. So the simple mathematics is : Bank Balance Minimum : One Year's Expenses + 1,00,000 Rs Maximum : One Year's Expenses x 1.5

Bank Fixed Deposits Minimum : 3 -> 4 lacs Maximum : 5 lacs + Gold Ornaments and other Jewellery Minimum : 2.5 -> 4 lacs ( without evaluation ) Maximum : 5 -> 8 lacs ( with evaluation papers ) Annual Income Minimum : 20 % of the total expenses of your full period of studies Maximum : As much as u can show 11. Can I show more than 1 bank account? A - Yes, you can. No one keeps 10-12 lakhs in a single account. So its ok to split it up into multiple accounts (say 3). But make sure that your bank statements are issued on the same date. This is just to avoid the Consulate Officer from thinking that you have simply rotated the same money from one account to another. 12. What to show - bank statements or passbooks? A - Show both. Passbooks are absolutely essential - bank statements are optional, but its good to arrange for it. Both should be issued for a date as recent as possible. Also put a Paper clip onto your passbooks so that the page having the last entry is readily visible. 13. Which should have more funds? savings acc or fixed deposits? A - Ideally, the amount should be in savings as indicated above. However, its ok to have an equal amount in both savings and fixed deposits. But its NOT advisable to keep a small amount (2-3 lakhs) in savings and the rest in fixed deposits. It would make sense to break your FDs and put the money in your savings. Its because they directly see the entries in your Passbook as to what is the amount reflected by your current savings. They interpret the current savings as the money that you have to spend for immediate expenses. So the bottomline is that whatever your fees be, even if you have full aid, your savings account should reflect atleast 8 to 10 lacs. 14. How do I cover up the recent Huge Passbook Entries? A - It is quite natural that none of us have 10 to 15 lacs in our bank accounts(usually!!!). So people get the money from their friends or relatives and deposit it into their accounts for some days. But then big, fat deposits at dates closer to the date of your VISA Interview create a doubt in the Officer'smind. As it is they are well aware that Indian people take money from their relatives and show it as their own. So the best thing is to have frequent transactions well before the date you have decided to appear for the VISA Interview. Besides depositing money, also have frequent withdrawals to show that it is an active account. If getting money before hand is really a pain, then you can resort to some techniques to patch up the recent, fat entries in your passbook. 1) Show that you had given this money to some needy relative of yours for some time and that now needed for your education, it has been taken back. Make a look-like -legal agreement on a notarized

paper(You have to stuff up the notary for this). And when talking about these papers to the VISA Officer, be bold and confident as if the papers are as legal as your birth Certificate!!!.. 2) You can have some documents showing, you had invested in some private firms coz they offer higher rates of interest as compared to the banks. You can get some of your father's friends, who have a company/firm of their own, to agree to make such a document. Remember to give a copy of the Receipts to the person who issued them, as well..(just being extra cautious..they wont call up..but just in case).. 15. What about the drafts that I am supposed to carry along with to the Consulate? A- You are supposed to carry two drafts with you to the Consulate. All the drafts are to be issued in Indian rupee equivalent of the fees. The first draft is the VISA Application fees and the original amount is 45 US$, and the second draft is the VISA issuance fees and the original amount is 75 US $. The drafts or the pay orders have to be issued by any nationalised bank....Co-operative banks wont do. The drafts have to be addressed to " American Consulate General". They should be payable at the city you are appearing for your interview, I mean if you are appearing at the Mumbai Consul, it should be payable at Mumbai. Write your name and address and passport number behind the drafts. Also carry the counterfoils of your drafts, just in case the officers suspect the genuinity of your drafts!!!!