Last week, I sent an email to AINP clarifying the settlement funds requirement for the AINP Family Stream Category. Particularly, I asked if funds deposited in a Philippine Commercial banks may be accepted as proof of funds. I received a reply this morning and I want to share the information I've got.
Funds must be in a Canadian financial institution. If the candidate has already submitted an application for permanent residence to CIC, such as a Federal Skilled Worker application, they are still eligible to apply to the AINP. The candidate must indicate on their AINP application that they have previously applied to CIC. This will enable the AINP and CIC to coordinate and deal with the applications appropriately. It will take between 6 - 12 months for the AINP office to process applications submitted under the Family Stream. It will take a further 6 - 18 months for permanent residence applications to be processed by CIC. Please note that these processing times may change without notice.
I'll write another entry on how to open a bank account with a Canadian bank from within the Philippines soon.
Update: July 10, 2008
Here's a couple of links where you may find information on how to open a bank account in Canada from within the Philippines:
HSBC Premier - Philippines
HSBC Canada - Opening an account when you're outside Canada.
