Complicated situation with funding

[mdewan_bd]

From what I have gathered it seems that the proof of fund is to be submitted along with the initial application. But here's the situation. I am using borrowed fund from someone else. I will be applying by the end of this month and can have the fund in my account for 2 months. If i withdraw the money after 2 month will my application get rejected? I know that the immigration authority does not accept borrowed fund, but how they can trace if it is borrowed or mine.

One more question can I show land properties in my name as a source of fund (its valued at more than the required CA$ 14000) and what about company stock ? Would really appreciate if someone can tell me what is / are the acceptable proof of fund except bank statement?

 

[Cappuccino]

From what I have gathered it seems that the proof of fund is to be submitted along with the initial application. But here's the situation. I am using borrowed fund from someone else. I will be applying by the end of this month and can have the fund in my account for 2 months. If i withdraw the money after 2 month will my application get rejected? I know that the immigration authority does not accept borrowed fund, but how they can trace if it is borrowed or mine.

One more question can I show land properties in my name as a source of fund (its valued at more than the required CA$ 14000) and what about company stock ? Would really appreciate if someone can tell me what is / are the acceptable proof of fund except bank statement?

YOU CANNOT USE BORROWED FUNDS

http://www.cic.gc.ca/english/immigrate/skilled/funds.asp
"You must show that you have enough money to support yourself and your dependants after you arrive in Canada. You cannot borrow this money"

Why do you believe this rule doesn't apply to you? Since you've already said you're aware of the rules, you cannot even plead ignorance. You are effectively standing here on a public forum and asking our advice on how we can help you illegally defraud the Canadian government?

GRRRRRRRRRRRRRRRRRRR makes me so mad that people try to cheat and defraud the system like this - taking up visas that could otherwise go to honest applicants.

If you do this, even if CIO accept your bank-certificate-only without statements bullcrap, the visa office can ask for up to 12 months statements. If you are caught not only will they fail your application but they could make you inadmissable to re-apply for a number of years.

If you are going to "use borrowed funds from someone else", then I hope your application fails.

The rules on having adequate debt-free funds are there FOR A GOOD REASON.

On a more positive note, if you do not yet have adequate funds to apply:

1) Save up, or also look into selling assets to accrue adequate funding. Some visa offices will also accept equity in property as proof of funds so if you own a house you can provide 3 valuations and a mortgage letter as part or all of your proof of funding

2) If funds are a problem then you can secure a job offer and apply in Category 2, in which case you are not required to provide proof of funds.

But please, be fair to yourself, and fair to the other applicants you are trying to rob a visa from, and do not apply unless you are genuinely eligible, and that includes having adequate, debt-free funding!

Wayne.


P.S.

A quick check of your post history and it seems you are the brother-in-law of this 2 points out of 16 for IELTS score guy?

So your brother-in-law:
- Only scores 2 points out of 16 for language
- Does not have funding and wants to borrow the money and illegally pretend it is his, and wants our advice on the best way to conceal it from CIC?

Unbelievable.
Wayne.

 

[devilhimselff]

From what I have gathered it seems that the proof of fund is to be submitted along with the initial application. But here's the situation. I am using borrowed fund from someone else. I will be applying by the end of this month and can have the fund in my account for 2 months. If i withdraw the money after 2 month will my application get rejected? I know that the immigration authority does not accept borrowed fund, but how they can trace if it is borrowed or mine.

One more question can I show land properties in my name as a source of fund (its valued at more than the required CA$ 14000) and what about company stock ? Would really appreciate if someone can tell me what is / are the acceptable proof of fund except bank statement?

Relax Cappuccino dude May be to much Cappuccino today
This is being done and has been going on for ages (Borrowing money), nothing new I guess....

Anyways the problem with burrowed funds is what is explained by Cappuccino, rest search through the forum for LOTS of info on Proof of Funds. If you cannot maintain the funds for the said amount of time, not to mention that when you LAND you need $$$ in your pocket in the form of DD/Cash etc, SO if you lend and give it back, will they allow you to take it to Canada ??? I dont think so.... I guess honesty is the best policy, but, when it comes to immigration, people will do anything to get it. UnCool!

 

[Cappuccino]

Relax Cappuccino dude May be to much Cappuccino today
This is being done and has been going on for ages (Borrowing money), nothing new I guess....

Anyways the problem with burrowed funds is what is explained by Cappuccino, rest search through the forum for LOTS of info on Proof of Funds. If you cannot maintain the funds for the said amount of time, not to mention that when you LAND you need $$$ in your pocket in the form of DD/Cash etc, SO if you lend and give it back, will they allow you to take it to Canada ??? I dont think so.... I guess honesty is the best policy, but, when it comes to immigration, people will do anything to get it. UnCool!

I, rather regrettably, haven't had any Cappuccino today (just regular coffee from the work kitchen).

Robbing banks and murdering people is "being done and has gone on for ages" - does it make it right to do those crimes as well? Lying to the government is fraud and is no less illegal than theft or murder.

CIC are clamping down on fraudulent job offers etc, so I only hope they have the foresight to clamp down on those who use fraudulent funding as well.

But just so you don't think I am a heartless bureaucrat - the rules on funding are not just some needless work of bureaucracy - they are there for a very good reason.

Borrowing funds and pretending they are yours:
- Is unfair on other honest applicants
– It is also unfair on the Canadian welfare system when the applicant arrives in Canada with borrowed money which is not theirs
- It is unfair on the applicant themselves, to put further strain on what will already be a financial struggle

Wayne.

 

[mdewan_bd]

Thanks for your angry yet informative answers.

I admit that its not the most transparent of approaches. In fact not transparent at all :-[
But the truth is this money is borrowed from the parents and will be available (without the compulsion of repaying it) if I can make it to Canada.

just to quote Cappuccino, "Some visa offices will also accept equity in property as proof of funds so if you own a house you can provide 3 valuations and a mortgage letter as part or all of your proof of funding"

I don't own a house rather own a land. Can I show that as as proof of funds by itself without placing it on mortgage.

 

[Cappuccino]

Thanks for your angry yet informative answers.

I admit that its not the most transparent of approaches. In fact not transparent at all :-[
But the truth is this money is borrowed from the parents and will be available (without the compulsion of repaying it) if I can make it to Canada.

just to quote Cappuccino, "Some visa offices will also accept equity in property as proof of funds so if you own a house you can provide 3 valuations and a mortgage letter as part or all of your proof of funding"

I don't own a house rather own a land. Can I show that as as proof of funds by itself without placing it on mortgage.

I am sorry if I sounded angry, but there is a growing and concerning number of people that think it's "ok" to break the rules like this - without really considering the consequences for themselves or other applicants.

CIC guidelines mention "property" but not land. So my opinion is that land cannot be used - however, you may wish to contact the visa office that you intend to use as confirmation.

And you keep talking about yourself and land you own. Are you talking about applying yourself, or your brother in law applying?

Wayne.

 

[mdewan_bd]

And you keep talking about yourself and land you own. Are you talking about applying yourself, or your brother in law applying?

Wayne.

I am still talking about the BIL. I hope to apply through the experience class after I finish my masters and psw. I guess i'm gonna open up a new id then

Thanks for all the help. so far it seems that my BIL is not that confident himself.

And congratulation on your visa btw. (y) I just checked that you expect to land on aug 27th. I am scheduled to arrive in toronto around the same time.

 

[Cappuccino]

I am still talking about the BIL. I hope to apply through the experience class after I finish my masters and psw. I guess i'm gonna open up a new id then

Thanks for all the help. so far it seems that my BIL is not that confident himself.

And congratulation on your visa btw. (y) I just checked that you expect to land on aug 27th. I am scheduled to arrive in toronto around the same time.

Hi.

Yeah - I mean I genuinely think at the moment your BIL doesn't have enough money and doesn't have the language skills to emmigrate. And as I said it is not just about "the rules" but about what it's going to be like for him when he moves over.

If he moves over without any funds of his own and with low language skills, he is going to really struggle.

My view is he should spend the next year saving up funds and spending time and effort improving his language skills, at least to moderate level. Then maybe look at applying in July 2012 when he is better prepared?

I do wish him the best of luck, but since I am sure he doesn't want to begin a new life in Canada with an act of fraud it is really better to be honest about his funds and save up first

Yes we are landing 27th August (should have the visa on 21st July when we go to collect from CHC London) - but we're landing in Vancouver.

Wayne.

 

[novsaggi]

correct me of I am wrong, but arent u suppose to provide 6 months of bank stmts
Money borrowed in past 2 months, will be reflected in statements.
At one point or the other, the VO will notice this discrepancy.

I am not promoting the behavior of borrowing funds
And I second Cappuccino for his post

grass seems greener on the other side, but there is a reason why necessity of funds is required.