Networth Certificate for Visa Rs. 2500

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-

1. Visa Application
2. Loan Processsing
3. Business proposals

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-

1. To assess the financial position of the applicant
2. Once net worth certificate is issued, then only VISA is proceeded further
3. Also in case of franchisee application, issuance of net worth certificate is mandatory to determine the financial capabilities of the applicant to conduct business.

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-

1. Name and address of the applicant
2. Pan of applicant
3. Total net worth of the applicant till date
4. Movable assets in schedule A
5. Immovable assets in schedule B
6. Chartered accountant membership details
7. Date and Place

Broadly speaking, the net worth certificate contents of assets divided into two parts-

1. Movable assets like bank accounts mutual funds, stock etc
2. Immovable assets like property
3. Liabilities

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

1. ID proof: PAN Card / Aadhar Card / Driving License / Voter ID Card / Passport.
2. Address proof: Bank statement/Passport/Electricity bill/Property Tax receipt/ITR/Mobile bill or Phone bill
3. Email ID

b.    Movable assets document check list

1. Fixed deposit Balance: Statement or FD receipt
2. Investment assets: Latest holding report/ Demat account statement
3. Pledge securities : Share certificates or any other supportive document
4. Vehicles : RC book of Vehicle
5. Bank account: Updated Passbook
6. Cash: Details of Cash in hand or legder
7. Gold : Latest bill copy
8. Life insurance investment: Latest Premium Paid Receipt / Statement
9. Any other liquid assets: Supporting documents

C.Immovable assets document checklist

1. Land, open Plot : Index 2, Property tax receipt
2. Bunglows, Flats, Villas: Electricity bill, Index 2, Property tax receipt
3. Agricultural land: 7/12
4. Commercial property: Electricity bill, Index 2, Property tax receipt

Process to apply for Networth certificate for Visa Application

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

Standard Format of Networth Certificate

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:

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

SCHEDULE A: Immovable Assets 

Mr. ____________

Chartered Accountant

Sign and Seal

AMIT BHUTADA

CA Amit Bhutada Owner at A N Bhuatda & CO having +10 years of experience and expertise in the hardcore profession of Accountancy and Taxation. He has in his credit experience in the field of Income Tax, Audit,Clound Accounting, Company Law Matters, Financial Services, GST, International Taxation , Goods & Services Tax (GST), GST Audit, etc.

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