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Information Required
- The assets & liabilities of applicants & their dependents are required. More of such information has been provided under a later section of this article.
- When we offer this certificate, we don’t collect property documents because your privacy is our priority. We trust you. So, just provide the required information, that would be sufficient.
- We will give you an excel file consisting of a calculator to compute the value of assets and liabilities for the purpose of this networth certificate or ca report.
Sample Certificates
Basic Understanding
Why CA Report for VISA?
To ensure whether you are financially sound to meet the education and living expenses for the study/travel outside India. It removes all the doubts of reader/observer about your eligibility for the visa.
CA Report for VISA Means?
It’s a net worth certificate, a document containing the net worth of an individual, usually certified by a Chartered Accountant (CA) for Visa Processing.
- Net worth is the aggregate resources of an individual or an enterprise by deducting liabilities from total asset size.
- So to process the visa effectively in the minimum time frame, one requires a CA certificate to authorize the net worth.
- The prime objective of having a CA certificate is to check the financial soundness of the applicant.
Networth for VISA Means?
Net worth is the aggregate resources of an individual i.e total assets minus total liabilities. Such as
- Dependents gross income as per last 2 years income tax (IT) returns
- Agricultural income
- Agricultural lands – fair market value
- Open plots – fair market value
- Residential or commercial building – fair market value
- Motor vechiles – depreciable value
- Gold (parents & student) – standard rate
- Fixed deposits (FD) – investment value
- Recurring deposits (RD) – investment value
- Shares, bonds, mutual funds, equity instruments – holdings value
- Providend fund account balance – employee & employer contribution
- Insurance policies – surrender value or premium paid to date
- Bank balance (7 to 15 lakhs will strengthen the VISA application)
Process for CA Report for VISA?
- To get a CA Certificate for visa, you need to contact any CA firm and submit documents related to assets and liabilities.
- They will review the information provided by you and will prepare & certify the networth for visa of Canada / Australia / America / Ireland / China / any other country.
Documents Required
Income Tax Returns (ITR):
The 2-3 years of Income Tax Return Filings are one of the most important proofs to prove that sufficient income is available to cover the education & living expenses abroad.
Needless to say, Haven’t you filed any of the IT Returns yet? Don’t worry, we can help you to file the latest Income Tax Return within no time.
Asset Description:
- List down all the assets owned by either of the parents/ guardian.
- Note down all the descriptions such as flat/house/plot number, survey number with complete address in case of immovable properties along with current market value with a suitable base.
- Quantify the Gold in tulas & measure the value of motor vehicles as per sale value.
- Evaluate the shares & mutual funds holdings as per the current market value
Note: Assets may include lands, plots, flats, houses, commercial buildings, shop’s, motor vehicles, gold, shares, bonds, mutual funds, life & health insurances, provident fund balance, fixed deposits, recurring deposits, post office savings schemes, balance in any of the government schemes (example: sukanya samruddi scheme), bank balance (personal & business accounts), cash in hand.
Bank Account Statements:
- With Net-banking, often getting a statement is a click away.
- Often, universities/ visa consulates specifically ask for 6 months bank statements (the tenure may vary though).
Provident Fund Statement:
This statement is issued by the Provident Fund Authority containing the number of funds available in the account which are to withdraw.
If such a statement cannot be arranged in any manner, then you may need to download the account statement from the PF Official Website by providing UAN Number & Password. This would be sufficient enough for CA Certificate.
Incase of Telangana Government Employees, you can refer here to get such information easily here.
Insurance Policies:
The Surrender value of life insurance policies is required for the purpose of valuation. To find out the surrender value you can calculate it here.
Incase of Telangana Government employees, you can refer here to get such information easily.
Loan Sanction Letter:
Students can also submit a Loan Approval Letter as proof of funds. This is easy to get from the bank providing the loan. Here are a few things a student should keep in mind:
-
- The letter should be on bank’s letterhead, duly signed and stamped
- The letter should clearly specify the amount of loan and the student’s name
- Should include a promise to disburse the amount as and when specified
- Should mention “The Loan of Rs. _____________ has been fully sanctioned and all terms and conditions are completed except disbursement.”
Property Evaluation Report:
This is desired by few countries for Visa. In case a student has applied for an Education Loan against property mortgaged, then you need to attach a Property Evaluation Report & the corresponding Loan Approval Letter. The Property Evaluation Report generally considers various facts including below:
- Property pictures
- Size of the property and specifications
- Ownership proof of the property being evaluated
Scholarship Letters:
In case you have been given a scholarship, the student can also attach the scholarship letter as evidence of financial capacity. This letter is often provided by the University/ Educational Institution that grants the scholarship. If you have received a Governmental Grant, then you are also required to attach a copy of the same.
CA Certificate Format
NET WORTH CERTIFICATE
We hereby certify the position of assets & liabilities as of 31.03.20XX.
The same has been verified from the records & other details produced before us:
Parent Name:
PAN Number:
Date of Birth (DOB):
Permanent Address:
Office Address:
(A) Total Value of Immovable Property:
|
Nature of Properties |
Location with Complete Addresses |
Value (In Lakhs) |
|
House, Shops, Plots, Lands |
||
|
TOTAL |
|
|
(B) Total Value of Other Assets Owned:
|
Nature of Assets |
Particulars of Assets / Complete Description |
Qty |
Value (In Lakhs) |
|
Vehicles, PF, Shares, Mutual funds, FD, Gold, LIC, Insurance policies, Education Loan Funds, Cash & Bank in India or outside India |
Account Number(s) etc |
||
|
TOTAL |
|
||
(C) Total Liabilities:
|
Borrowed From Bank |
Amount |
Purpose |
Outstanding value as on date (In Lakhs) |
|
SBI |
Loan |
||
|
TOTAL |
|
||
(D) Net Worth: (A + B – C) = /- Lakhs
(In words ___________________________________)
For ABC & ASSOCIATES, Chartered Accountants
(Signature of partner)
M. No & Dated:
UDIN Number:
Get CA Certificate From Us
Why Choose Us?
- We handled 100+ Visa applications to date. You can reach us from any corner of the world. We can do the work & deliver you.
- Just a click away, we are available 24×7 because you might be from any part of the world. Your free time is our free time to work. We work in a very interactive & friendly way.
- Valuation is an art. We almost cracked its code through our subject matter expertise and by expert level conversations with Visa officials, consultants, counsellors, etc.
- We first deeply analyze every VISA application without jumping to a conclusion in a rush of 30-minute delivery as others do. Also, we don’t take too much time of 30 days as others do but we can offer digital copy instant delivery within 48 hours.
- We often provide valuable advice or pro tips to Visa applicants in addition to this report as a complimentary. Many have appreciated us through feedback via Google reviews presented at the end of this article.
- We don’t collect any documents (except for liquid assets & income proofs) to issue this report because your privacy is our priority. Just share with us the required information alone.
- We issue a Unique Document Identification Number (UDIN) for each certificate. Please take care many service providers will not provide it. The UDIN ensures the identity & genuineness of the report. Everyone can verify the UDIN at the portal of the Institute of Chartered Accountants of India (ICAI) @ www.udin.icai.org.
What is our Fees?
It depends on the assets and liabilities certified. Slab rates are as follows:
- ₹5,000 – Upto ₹1 Crore of assets and liabilities certified
- ₹1,000 – For every ₹1 Crore of assets and liabilities certified thereon.
Payment Terms:
We will not collect 100% money in advance. We collect in stages to make you feel comfortable.
Summary: Booking Fees (₹500) : Advance (Bal in 50%) : Finalization (Bal in 100%)
Details:
• ₹500 – We are collecting a token amount as confirmation for booking our services. Here, we will share an Input sheet (excel/word file) for the accumulation of data with accuracy and speed up the process.
• Advance (Bal in 50%) – To be paid at the time you share with us the filled excel file along with documents. Once we receive the advance amount we will start working on it. Once our report is ready will share the draft copy for your confirmation. You can even share with your consultant or another person for their confirmation.
• Finalization (Bal in 100%) – After your confirmation, we will allot a Unique Document Identification Number (UDIN) which can be verified on public domain @ www.udin.icai.org. We will sign and send the signed copy to your email.
What is our Procedure?
The following information is required:
A] Details of Income
B] Details of Liquid Assets
C] Details of Movable Properties
D] Details of Immovable Properties
E] Details of Loans
Detailed picture about it mentioned here (JPG File in G.Drive)
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