# question on financial liabilities for skilled worker program



## knel (Sep 8, 2011)

Hello,
My wife and I are strongly considering moving to Canada so that she can pursue Health Promotion research with her PhD (not much interest in it down here). I have a question about the skilled worker program.

The application states that you must have around $14k of *unencumbered* funds. We both have student loans and will probably have $150-200k of debt in total by the time she graduates.

Would the financial requirements permit us to apply for permanent residency even though we have debt?

I understand that if she receives a job offer the financial requirements are relaxed.


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## knel (Sep 8, 2011)

Ok let me try to broaden my question, has anyone applied for permanent residency with substantial debt and how did the CIC react?

Thank you in advance.


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## Snodge (Apr 17, 2009)

knel said:


> Ok let me try to broaden my question, has anyone applied for permanent residency with substantial debt and how did the CIC react?
> 
> Thank you in advance.


I'm pretty sure all you have to do is show that you have the $$. Bank statement or what ever. I don't remember any questions about debts and I don't think they do a credit check.


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## Lianth2009 (May 9, 2011)

As far as I know they do not look into your credit rating or debt. As long as you have the relevant funds required from the CIC website that is sufficient. 

Also when you arrive in Canada your credit rating is zilch anyway so will start off difficult to gain credit etc over there. New country new credit rating.


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## knel (Sep 8, 2011)

Lianth2009 said:


> New country new credit rating.


This sounds good believe me!

Thanks for the replies.


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## knel (Sep 8, 2011)

My second question is regarding the guarantee of funds necessary (around 14k for 2 people).

I have sufficient funds in my retirement account and I can show a brokerage statement to that effect. Does anyone know if that is acceptable or do the funds have to be in a checking or savings account?


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