POF advise needed

[Steve_OO]

Hey experts,

I am gathering documentation for my EE application. I have a quick query regarding POF. My situation is:

My parents have been saving money for me for a long time for thing such as university and a housing fund. They have decided to give me money for my move to Canada. I will received this money no strings attached into my account.

Would a letter of explanation stating that this money is from my parents and is mine with no liabilities suffice for CIC purposes?

The money would be in my account for only a few months before the information is required.

Additionally, I was also a little confused as to when you need to show this, from what I have researched it looks like its when you land at port and are with the immigration officer, please confirm?

if that is the case I could potentially hold the money in my account for over 6months (processing time + time before move) and be fine.

Any advise on this would be hugely appreciated!

Thanks!

Steve

 

[Maverick28]

Hey experts,

I am gathering documentation for my EE application. I have a quick query regarding POF. My situation is:

My parents have been saving money for me for a long time for thing such as university and a housing fund. They have decided to give me money for my move to Canada. I will received this money no strings attached into my account.

Would a letter of explanation stating that this money is from my parents and is mine with no liabilities suffice for CIC purposes?

The money would be in my account for only a few months before the information is required.

Additionally, I was also a little confused as to when you need to show this, from what I have researched it looks like its when you land at port and are with the immigration officer, please confirm?

if that is the case I could potentially hold the money in my account for over 6months (processing time + time before move) and be fine.

Any advise on this would be hugely appreciated!

Thanks!

Steve

Its fine if your parents give you that money. All you need is a declaration from them. This is called as a Gift Deed. You can search for a template for such a deed on the forum or over internet. It's a good idea to get the gift deed notarized.

You need to show the funds when you submit your eAPR after ITA. And you may have to show the funds when you land. So its good to have it in your account till you land. There is no minimum time requirements for the funds in your case as you will be getting it as a gift from your parents.

I hope this helps!

 

[Steve_OO]

That's very helpful indeed! Thank you very much!!

I will purse that route