Why Is A Net Worth Certificate Required For A Visa Application?

Posted by RBG Consultants on July 1st, 2022

Net Worth is the financial snapshot of the assets less an individual or enterprise's liabilities. Net worth provides a good indicator of the aggregate budgetary worth of a person at one point in time. Total Positive assets for consecutive years will tell the good financial well-being. In contrast, the total negative assets reduced yearly will tell you the poor well-being of a company. The total assets give a glimpse of the economic and financial health. Net worth is a relative term that gives a picture of a good measure of an individual's financial worth over some time. 

Net Worth Certificate for Visa is a document obtained and certified by a Chartered Accountant taking into consideration every benefit and liability of the individual or Enterprise. A net worth Certificate is an essential piece in a visa application process to check the monetary soundness of the candidate. Net Worth Certificate is a requisite in every application like visa, applying for bank credit, franchisee application and more. It is an important document to assess the net worth of a person's financial background. Networth Certificate is mandatory for VISA, Embassy/Consulate Interview, Loan and Insurance. The Net Worth Certificate for Visa is authorized by a Chartered Accountant and certified with UDIN. The Networth Certificate is often termed a Wealth Report, Asset and Liability Report, or Wealth Statement.

Networth Certificate is the statement that throws a light on a person's total movable and immovable properties. A Consulate or a Visa Agent asks for the statement of wealth, also termed the Networth Certificate for VISA.

Things To Be Considered As Networth For Visa Purpose

• Value of Immovable and movable property

• Residential house or Plot, if acquired

• Agriculture Land 

• Office or commercial spaces 

• Attached Furniture 

• Bank Balance / FD's / Mutual Fund 

• Shares or any investment in a mutual fund

• Car, Bike, Plane

• Gold Ornaments, Diamonds

• Book Value of Debtors, Stocks

• Value of Life Insurance and other long-term investments.

Why Is A Net Worth Certificate Important For Visa Application?

A Net Worth Certificate for Visa assesses an individual's net resources. The application must include all the detailed information of the concerned individual like his name, the skillet card number, date of birth, origin of the country he is from and the workplace address. The CA certificate for a visa will estimate the real monetary value keeping the assets and liabilities in mind.

How Is The Net Worth Calculated?

The net worth method is a calculation to determine the income and expenditure of an individual. Add all the assets and then deduct the liabilities to determine the net worth for the current year. Subtract the previous year's net worth to assess the increase in the financial value. A cash flow worth statement is an important tool which aids you in measuring your progress to achieve your long-term financial goals. A Net Worth Certificate for Visa provides an inventory of your assets and debts. For more details, connect with an expert's team today!