Our application was going over final evaluation with our lawyer before submission. He said it’s been flagged as our “liabilities” exceed liquid funds, according to the amounts on the Form 6A. However, that amount of liabilities includes our house (which we would obviously be selling and in turn have the equity from), my car (which I would be selling and not taking with me), and debt that will be paid down in full before landing. Even with the debt vs. liquid assets as it stands currently, we have a positive net worth in the 6 figures. My lawyer said for this stream, they look at net worth.
He also mentioned that this may tell the processers that I can’t set up my business upon landing, but I already come with all of my equipment necessary and the overhead for setting up this business is incredibly low.
Has anyone come up against anything like this and could anyone help calm my anxieties?! I’m just wondering if we have the landing funds….we have enough net worth….could they still turn us away? Will they take into consideration the selling of our home and paying off debt, or do they not take mitigation of their concerns into consideration?