Double Currency Networth Certificate Format

A double currency networth certificate is a document mainly used for international trade or finance. It provides a comprehensive overview of assets and liabilities of an individual in two different currencies. One can get their certificate by consulting with a chartered account. Only a chartered accountant can certify this certificate. Bizfoc provides double currency certificates within a day. Read this article to get a thorough understanding of the certificate format including its importance, procedure, document requirements, fee structure and other.

What is a Double Currency networth certificate?

A double currency networth certificate is a formal document that reports the net worth of an individual or organisation in two different currencies. This certificate provides a clear and comprehensive view of financial health across multiple currency systems. This certificate mainly helps in global business operation, investment assessment, and credit evaluation.

One can get this certificate by consulting with a chartered accountant. This certificate includes primary and secondary currency. The local currency is considered as a primary currency and the other foreign currency is considered as secondary currency.

Documents Required for double currency networth certificate

There are certain documents required for a double currency networth certificate. These documents includes:

• Identity card such as PAN Card, Aadhar Card, or any other
• Address proof such as Passbook, electricity bill, or any other
• Email, Phone Number or any other Contact Information
• For outlining income & expenses Income Statement is required
• For accurate assets & liability Balance Sheet is needed
• Bank statement to ascertain bank balance
• Property Documents for asset verification
• Investment Records for highlighting the current worth of all investment
• To provide a comprehensive account of liability, Loan Documents is needed
• To provide a comprehensive overview of income & tax obligation, Tax Returns is required
• Furniture and Electronic items considered only if valid bill is available
• Cash Detail (Cash in hand or Cash ledger)

Double Currency Networth Certificate fee structure

The fee for double currency networth certificate is just ₹2500/-. One can get their certificate by paying this amount and fulfilling other documentation processes. However, this certificate mainly helps for VISA purposes. This is the best format for student visa, work permit visa, permanent resident (PR) visa and visitors visa

How to get a Double Currency Networth Certificate?

To apply for double currency networth certificate for, one need to follow these steps:

• Step 01: Connect with a Chartered Accountant: The very first step is to consult with a chartered accountant who can prepare this certificate. Bizfoc has a team of qualified chartered accountants.
• Step 02: Documentation: Once you connect with Bizfoc, our CA will assist you in gathering your documents for further processing. They will make sure if all the documents are accurate and up-to-date or not.
• Step 03: Fee Payment and Review: Once you gather all the documents, you need to pay a fee for the certificate, and then our CA will review your application and documents.
• Step 04: Verification: Once the application is submitted, our CA will prepare and certify your networth certificate upon successful verification. After final verification, you’ll get your certificate.

Who certifies a double currency networth certificate?

A double currency networth certificate can be certified by a chartered accountant only. You can consult with a qualified and experienced person for this certificate. Bizfoc is one of the trusted companies, who has a team of professionals and experienced chartered accountant who certify this certificate.

Double Currency Networth Certificate Format

A networth certificate is a document which includes all the assets and liabilities of an individual. It shows the overall financial position of an individual or a company. The format of networth certificate includes the following details: 

• Name of the applicant
• Date (when net worth is calculated)
• Networth Amount
• Place where the meeting is held 
• Name of accounting firm
• Date (When the certificate is certified)
• Asset detail
• Liability detail

Make sure all the information provided by the applicant is valid and appropriate. Incase of any mistake or false information certificate can be canceled. The detailed format of networth certificate is as follow:

NETWORTH CERTIFICATE

TO WHOM SO EVER IT MAY CONCERN

Net Worth Certificate of Name Primary Person__________ (Adhaar Number:__________) residing at ( Complete Adress)__________  as on (date)__________ is ₹ __________ & _______(in words). The net worth stands in foreign currency is _____________. It is further certified that the computation of Net worth, based on my/ our scrutiny of the books of accounts, records and documents, is true and correct to the best of my / our knowledge and as per information provided to my / our satisfaction.

Detailed Bifurcation of Net worth are as follows:

This Certificate issued on the basis of documents submitted before us. This Certificate is issued for the purpose of ____________.

For Chartered Accountants

Partner Name

Partner

Membership No:

Date:

Place:

UDIN: 

Schedule A: Movable Assets

Schedule B: Immovable Assets

Schedule C: Liabilities

Why Choose Bizfoc?

Bizfoc supports and guides their client not only during the process but also after getting their certificate. We will guide you throughout the process in gathering documents and ensuring accuracy and compliance. You can consult with our experienced team and they will guide you with every small step to get your double currency certificate.

Conclusion

A double currency networth certificate is a formal document that reports the net worth of an individual or organisation in two different currencies. The Certificate requires certain documentation. The fee for the certificate is just ₹2500/-. It provides a comprehensive overview of assets and liabilities of an individual in two different currencies. This certificate includes primary and secondary currency. The local currency is considered as a primary currency and the other foreign currency is considered as secondary currency. To obtain a double currency certificate one needs to follow some steps. Bizfoc provides a hassle free procedure to obtain your certificate.

Frequently Asked Questions (FAQs)