In simple words, net worth is “Total Assets minus total Liabilities” Basically net worth is a financial indicator for any individual or a company. Its what you have left after you pay off all your liabilities. Net worth certificate for VISA be positive and also Negative depending upon the assets and liabilities position.
Net worth certificate is prepared by Chartered Accountants for individuals, company, firm, LLP etc after proper scrutiny and verification of various invoices, records, documents, Bank pass books, Statements etc. Once all verification is done , CA issues Net Worth Certificate to the concerned entity. In this article we will discuss for CA Networth certificate for Visa Application and Format.
Net Worth Certificate is used in following cases-
Lets have a detail look on net worth Certificate needed in case of VISA Application.
Why is Net Worth Certificate Required for Visa Application?
Net worth certificate for visa application is required-
Content of Networth Certificate for Visa
The Net worth Certificate has a standard format for individual, company, firm and LLP depending upon the applicant. But few common contents in certificate includes-
Broadly speaking, the net worth certificate contents of assets divided into two parts-
Checklist for Documents required for Visa Net worth certificate by CA:
The documents required for preparing a net worth certificate are as follows-
a.Personal KYC documents required for networth certificate
b. Movable assets document check list
C.Immovable assets document checklist
It is a simple process to apply for net worth certificate for VISA application.
Step 1: Pre Consultation with expert like Chartered Accountant
Step 2: Set a meeting with the Chartered accountant and discuss in detail about the purpose of net worth certificate so that he can asses well
Step 3: For VISA application, submit all concerned documents, records, assets etc to the Chartered Accountant
Step 4: Chartered Accountant will determine the total net worth after calculation and on the basis of the information provided by the applicant
Step5 : Net Worth certificate for VISA application is issued on the letter head of the said Chartered Accountant and with proper membership number and stamp of CA
Networth certificate format for Visa Application
M/s. Example & Co.
Chartered Accountants
(On the Letter Head of CA)
TO WHOM SO EVER IT MAY CONCERN
This is to certify that Ms Arpan Tyagi Having PAN AAAPA4123Z, Residing at Golden leaf, B-12, near Lunkad Street, Viman Nagar, Pune – 411001 India is having in his names Total Net Worth of Rs. 9,00,00,001/- as on 20/04/2023.
Detailed Bifurcation of Net Worth are as follows:
Schedule | Particulars | Amount in Rupees |
A | Movable Assets (See Schedule A) | 5,00,00,001 |
B | Immovable Assets (See Schedule B) | 4,00,00,000 |
Total | 9,00,00,001 |
This certificate is issued on the basis of documents submitted before us.
This Certificate is issued for the purpose of VISA.
For M/s. Example & Co.
Chartered Accountants
Mr. chartered Accountant Sign & Seal
CA Signatory
Proprietor
Mem. No. 999999
FRN. Z9999999
SCHEDULE A: Movable Assets
Sr. | Particulars | Amount in Rupees |
1 | Saving Account Bank Balance
Bank of Baroda– Pune Branch A/c No. 27568945367 Balance as on 20/04/2023 |
80,00,001 |
2 | Fixed Deposit
Central Bank of India – Pune Branch FD A/c No. 0000000000 Balance as on 20/04/2023 |
3,00,00,000 |
3 | Gold Ornaments
Combined Qty – 100 Grams Market Value as on 20/04/2023 |
50,00,000 |
4 | Investment in Mutual Funds UTI Mutual funds as on 20/04/2023 | 20,00,000 |
5 | Life Insurance Policy
LIC Policy No. 0000000000 Surrender Value as on 20/04/2023 |
46,00,000 |
6 | Vehicle – Tata Tiago RC No. MH 00 RR 0000
Realization Value as on 20/04/2023 |
4,00,000 |
Total Movable Assets | 5,00,00,001 |
SCHEDULE A: Immovable Assets
Sr. | Particulars | Amount in Rupees |
1 | Residential House
Address: Golden leaf, B-12, near Lunkad Street, Viman Nagar, Pune – 411001. Valuation Report Value Dt. 20/04/2023 |
1,60,00,000 |
2 | Commercial Office
Address: Shop no 23, Lyods Estate, besides GMR mall, Pune-411001 Book Value as on 20/04/2023 |
80,00,000 |
3 | Agriculture Land
Address – Survey No. 0088/2 Village Mulshi, Dist. Pune – 480008 Marker Value as on 20/04/2023 |
70,00,000 |
Total Immovable Assets | 4,00,00,000 |
Mr. ____________
Chartered Accountant
Sign and Seal