Asivad Anac - Please help - Urgent query regarding POF

[Ustaad]

Hi Asivad,

For applying under FSWP, I need to show $12000 in my account. I have some important questions in this regard. I have explained my background as under:

I live in Canada and just have completed MBA from University of Alberta and recently been issued a Post Graduate Work Permit (July 27, 2015 to July 26,2018). Right now I am looking for a full time job but I make $1500 per month by the part-time jobs I have been doing since past two years. I have duly been paying taxes to the Government. At any point of time, I have approximately $2000 in my account.

I don't have any other money in my possession. As discussed above, I can show $2000 from those $12000 from my own account (The average balance per month in the last six months would be $2000 only). My questions are as under:

1. What if my father transfers the pending $10000 in my account back home (in India) partly in 3 months and then signs a affidavit for me saying that this money is a gift from me to my son, and not a loan, so he need not pay me back this amount. Obviously this money will be new in view of CIC, so will an affidavit furnishing the above said statement from my father would suffice? Will CIC be happy from my POF by the above stated plan?

2. I also have a car in my name in India, of which I can give my father authority to sell to someone, and it can fetch me $6000. What if I show to CIC that I have recently sold my car (I will attach a copy of the car sale document) and that gave me these $6000. Plus $2000 of my own in Canadian bank. And the rest $4000 my father has given me a gift and attach the affidavit furnished by my father, as discussed above?

3. Which of the plans (1) or (2) sounds more applicable? Or both are equivalent?

4. The demonstration of funds is basically meant for people who are coming to Canada for the first time and do not have any base here. But I am already here and supporting myself financially by part time jobs from the past two years and recently have got a Post Graduate Work Permit with 3 years validity. Can these factors play a positive role, apart from showing POF as discussed above?

5. Is there anything else I can do to convince the Immigration officer that even if the money is transferred by my father, it is not 'borrowed' (in words of CIC)

6. Will showing of exactly or a little more than $12000 raise suspicion in the eyes of CIC that this money has been specially arranged by the applicant for immigration purpose? Or they are not concerned with any money which I show excess to $11931, as their required POF for a single person is $11931 only?

7. In case the plan discussed in Point 1 or Point 2 sounds good to you, does my father need to mention in the affidavit that this gift is meant for my son for his Canadian immigration? or should he only mention that this is a gift which needs not be paid back, without mentioning why did he gift this money to me, and that too two months prior to I was applying for my PR? Likewise, if you suggest me doing Point 2, should I mention that i have sold my car to arrange funds for bringing to Canada, in case my application is approved?

Thanks a lot in advance!!!

Kind Regards

 

[Asivad Anac]

Hi Asivad,

For applying under FSWP, I need to show $12000 in my account. I have some important questions in this regard. I have explained my background as under:

I live in Canada and just have completed MBA from University of Alberta and recently been issued a Post Graduate Work Permit (July 27, 2015 to July 26,2018). Right now I am looking for a full time job but I make $1500 per month by the part-time jobs I have been doing since past two years. I have duly been paying taxes to the Government. At any point of time, I have approximately $2000 in my account.

I don't have any other money in my possession. As discussed above, I can show $2000 from those $12000 from my own account (The average balance per month in the last six months would be $2000 only). My questions are as under:

1. What if my father transfers the pending $10000 in my account back home (in India) partly in 3 months and then signs a affidavit for me saying that this money is a gift from me to my son, and not a loan, so he need not pay me back this amount. Obviously this money will be new in view of CIC, so will an affidavit furnishing the above said statement from my father would suffice? Will CIC be happy from my POF by the above stated plan?

No need for an affidavit. A signed self-declaration would be enough.

2. I also have a car in my name in India, of which I can give my father authority to sell to someone, and it can fetch me $6000. What if I show to CIC that I have recently sold my car (I will attach a copy of the car sale document) and that gave me these $6000. Plus $2000 of my own in Canadian bank. And the rest $4000 my father has given me a gift and attach the affidavit furnished by my father, as discussed above?

That would work too. Again no affidavit needed from your father.

3. Which of the plans (1) or (2) sounds more applicable? Or both are equivalent?

Equivalent. Doesn't matter where the monies come from provided they are unencumbered.

4. The demonstration of funds is basically meant for people who are coming to Canada for the first time and do not have any base here. But I am already here and supporting myself financially by part time jobs from the past two years and recently have got a Post Graduate Work Permit with 3 years validity. Can these factors play a positive role, apart from showing POF as discussed above?

Absolutely! Submit the bank certificate showing whatever monies you have along with supporting evidences including work status, job offer with salary details, tax assessment forms etc along with an LOE which highlights that you are perfectly capable of taking care of yourself and family, if any, in Canada. That would work just fine.

5. Is there anything else I can do to convince the Immigration officer that even if the money is transferred by my father, it is not 'borrowed' (in words of CIC)

Just do what's mentioned in Pt 4 above.

6. Will showing of exactly or a little more than $12000 raise suspicion in the eyes of CIC that this money has been specially arranged by the applicant for immigration purpose? Or they are not concerned with any money which I show excess to $11931, as their required POF for a single person is $11931 only?

Even 11931 would be enough. Of course, it is specifically arranged for POF - that's the purpose of asking for POF.

7. In case the plan discussed in Point 1 or Point 2 sounds good to you, does my father need to mention in the affidavit that this gift is meant for my son for his Canadian immigration? or should he only mention that this is a gift which needs not be paid back, without mentioning why did he gift this money to me, and that too two months prior to I was applying for my PR? Likewise, if you suggest me doing Point 2, should I mention that i have sold my car to arrange funds for bringing to Canada, in case my application is approved?

It can be explicitly mentioned that the gift is for the purposes of settlement funds in Canada, no harm done.

Thanks a lot in advance!!!

Kind Regards

 

[cartwright]

Hi Asivad,

For applying under FSWP, I need to show $12000 in my account. I have some important questions in this regard. I have explained my background as under:

I live in Canada and just have completed MBA from University of Alberta and recently been issued a Post Graduate Work Permit (July 27, 2015 to July 26,2018). Right now I am looking for a full time job but I make $1500 per month by the part-time jobs I have been doing since past two years. I have duly been paying taxes to the Government. At any point of time, I have approximately $2000 in my account.

I don't have any other money in my possession. As discussed above, I can show $2000 from those $12000 from my own account (The average balance per month in the last six months would be $2000 only). My questions are as under:

1. What if my father transfers the pending $10000 in my account back home (in India) partly in 3 months and then signs a affidavit for me saying that this money is a gift from me to my son, and not a loan, so he need not pay me back this amount. Obviously this money will be new in view of CIC, so will an affidavit furnishing the above said statement from my father would suffice? Will CIC be happy from my POF by the above stated plan?
Can't say CIC will be happy or not but you need to demonstrate that this is not a loan and these funds are always available to you.

2. I also have a car in my name in India, of which I can give my father authority to sell to someone, and it can fetch me $6000. What if I show to CIC that I have recently sold my car (I will attach a copy of the car sale document) and that gave me these $6000. Plus $2000 of my own in Canadian bank. And the rest $4000 my father has given me a gift and attach the affidavit furnished by my father, as discussed above?
Same as above, the onus of proving the funds are yours lies on you.

3. Which of the plans (1) or (2) sounds more applicable? Or both are equivalent?
first one is more preferable than second because of the ease and trust me selling your vehicle is also not financially sound option.

4. The demonstration of funds is basically meant for people who are coming to Canada for the first time and do not have any base here. But I am already here and supporting myself financially by part time jobs from the past two years and recently have got a Post Graduate Work Permit with 3 years validity. Can these factors play a positive role, apart from showing POF as discussed above?
Unless you're invited under CEC POF have to be provided
5. Is there anything else I can do to convince the Immigration officer that even if the money is transferred by my father, it is not 'borrowed' (in words of CIC)
A Letter of explanation may help your case
6. Will showing of exactly or a little more than $12000 raise suspicion in the eyes of CIC that this money has been specially arranged by the applicant for immigration purpose? Or they are not concerned with any money which I show excess to $11931, as their required POF for a single person is $11931 only?
doesn't matter
7. In case the plan discussed in Point 1 or Point 2 sounds good to you, does my father need to mention in the affidavit that this gift is meant for my son for his Canadian immigration? or should he only mention that this is a gift which needs not be paid back, without mentioning why did he gift this money to me, and that too two months prior to I was applying for my PR? Likewise, if you suggest me doing Point 2, should I mention that i have sold my car to arrange funds for bringing to Canada, in case my application is approved?
Not needed, just need to mention that this is not a loan and need not be returned
Thanks a lot in advance!!!

Kind Regards

 

[Ustaad]

Buddy thanks a lot! You are a star!!

 

[kamalforcanada]

Hello Asivad Anac,

Need your help with regard to Proof of Fund Documents.

I have the Balance Certificate from my Banks mentioning My Current Bank Balance as on date, Account Opening Date, Type of Account, My Full name and address, on their Letterhead. I am also attaching a 6 months Bank Statement issued and stamped by the bank. I am submitting these 2 for my self as well for my spouse.

Query is do they need to mention 6 Month's Average Balance and Liabilities (like Credit Card Details and Car Loan Details). If yes, do i need to mention the same in my spouse's balance certificate too?

Please Guide.

 

[Asivad Anac]

Hello Asivad Anac,

Need your help with regard to Proof of Fund Documents.

I have the Balance Certificate from my Banks mentioning My Current Bank Balance as on date, Account Opening Date, Type of Account, My Full name and address, on their Letterhead. I am also attaching a 6 months Bank Statement issued and stamped by the bank. I am submitting these 2 for my self as well for my spouse.

Query is do they need to mention 6 Month's Average Balance and Liabilities (like Credit Card Details and Car Loan Details). If yes, do i need to mention the same in my spouse's balance certificate too?

Please Guide.

For starters, you don't need this for your spouse. CIC explicitly asks for these from the PA alone.

You don't need to mention loan details. What you have is good enough. If your bank can do the simple task of mentioning 6 months average balance, you wouldn't need to send in bank statements along. All you'll need to take care of is that you explain any unreasonably large credits within the last 6 months because that might indicate borrowed funds.

 

[kamalforcanada]

Thanks for your reply asivad anac,

But my bank says they wont mention 6 months average balance but they gave me 6 months bank statement. Would this be fine?

Also, my current bank balance and fixed deposits are enough as per the limo requirements. Should i submit my wife's fixed deposit certificates and bank balance certificates to improve the status or it wont be of any use?

 

[cartwright]

Thanks for your reply asivad anac,

But my bank says they wont mention 6 months average balance but they gave me 6 months bank statement. Would this be fine?

Also, my current bank balance and fixed deposits are enough as per the limo requirements. Should i submit my wife's fixed deposit certificates and bank balance certificates to improve the status or it wont be of any use?

Certified true copy of your bank statements are good proof enough.

Your wife's fixed deposit certs and bank balance cert wont help unless it is a joint account with you as one of the holder.

 

[Asivad Anac]

Thanks for your reply asivad anac,

But my bank says they wont mention 6 months average balance but they gave me 6 months bank statement. Would this be fine?

Also, my current bank balance and fixed deposits are enough as per the limo requirements. Should i submit my wife's fixed deposit certificates and bank balance certificates to improve the status or it wont be of any use?

That would be fine. All CIC is interested in knowing is whether there were any unreasonably large credit transactions recently because that might indicate borrowed funds masquerading as POF. So providing them with 6 months bank statements is an overkill.

Your spouse's bank certificates and FD's might add value but CIC explicitly asks for the POF only from the PA.

 

[kamalforcanada]

So what you suggest is i should go ahead with the following.

1. PA's Bank Balance Certificate along with 6 months' Bank Statement since i dont have any large sudden credits, so its safe i believe.
2. PA's Fixed Deposit Certificates
3. Spouse's Bank Balance Certificate & Fixed Deposit Certificates, as an addition.

 

[Asivad Anac]

So what you suggest is i should go ahead with the following.

1. PA's Bank Balance Certificate along with 6 months' Bank Statement since i dont have any large sudden credits, so its safe i believe.
2. PA's Fixed Deposit Certificates
3. Spouse's Bank Balance Certificate & Fixed Deposit Certificates, as an addition.

Sure. And if 1 and 2 contain enough money to count towards your POF, you don't need 3 at all.

 

[kamalforcanada]

Fine. Thanks alot Asivad.