jimmynoshoes

Hi all,

With regards to proof of funds, we are being given the money by my parents at the stage where fund proof is needed. They have a decent savings account so don't want to move the money out until it is required to do so.

I've noticed in some instances they want statements going back around 6 months (in pnp). Obviously those statements will probably show inadequate funds until the latest one where it magically pops up that we have a large amount of money.

I've read on the Ontario PNP that is fine, provided you give a statement that this is the case, and my parents would also have to provide a statement saying it is a gift and not expected back.

Has anyone else done this? Have you had any issues if so?#

EDIT: Sorry, this was meant to be in the Immigration sub forum.

Aviator

So long as it is a gift and not a loan.

https://www.canada.ca/en/immigration...oof-funds.html

'You can’t borrow this money from another person. You must be able to use this money to pay the costs of living for your family (even if they aren’t coming with you).'

Funds that are in somebody else's account won't prove you have the money and is unlikely to be accepted as your proof of funds.

If the money is in your account and just shows up, could get the question as to to where it came from and for proof that it is a gift and not a loan.

If your parents are giving you the money, not sure what difference it makes to them by giving it to you now? Gives the appearances to me of a temporary loan and they don't want to lose interest?

Engineer_abroad

This would also be my concern if I was assessing the case. OP expect some additional scrutiny as part of the application. I would suggest you may want to think about having a legal letter or document of some description drawn up in which your parents are specifying that the money is a gift and that you are under no obligation to pay this money back.

jimmynoshoes

Thanks. I would have them produce a signed document stating that it is a gift to makeup any shortfall we have for the funds. Basically we want to start the process sooner rather than later. We won't have enough savings ourselves until around October period, at which point we lose further CRS points due to ageing up. So my parents are going to be supplying any shortfall we have at a point where they ask for POF.

We aim to start the application as soon as our IELTS score is sufficient enough to give us the 400 CRS points needed for PNP programmes, so this could be this month or in a few months time. We can basically save away between £850-£1000 a month currently.

To clarify: The main reason they don't want to give it now, is because

a) We haven't started any process yet as insufficient points for ITA
b) They have it in a high interest savings account.
c) We don't want a handout unless absolutely necessary

As months go by, the amount that would magically appear would reduce, so it may end up being only a £2-3000 shortfall depending on when we begin and when they ask for money evidence. The sooner we begin the bigger the shortfall, essentially.

I think it would look better to have an appearance of say, £3000, appear, rather than an appearance of £8000 now, and then repayments going out to them since we'd have taken an excess. Although not a loan, we don't want to recieve more than is necessary. It may be a case we don't begin the process until September, in which case we won't "borrow" (not sure what other term to use) anything since by the time anything is asked of us, we'll have an excess amount in the account anyway.

Hope this makes sense.

Former Lancastrian

Now not that I would ever suggest doing anything against the law there apparently is this thing called Creative Accounting.
It work something like this.

I see you just had a thousand quid deposited into your account can you tell me where that came from.
Got lucky on the horses, dogs, Video Lotto Terminals, underground poker game etc etc.

Aviator

I would make it an irrevocable gift, rather than a no obligation, which appears that it may be returned.

plasticcanuck

Why not get the money transferred to you now and pay your parents the interest they will lose.

jimmynoshoes

Because we'll be getting far more than is necessary. We'd rather not have a donation at all if can be helped, but that is dependant on a few other factors at this stage. If we got it now, we'd be inclined to repay the excess monthly, which gives the immediate appearance of a loan.

Obviously we'd like to start our application sooner rather than later, but the reality is we have until October to put it through as we'll be under the 30 age bracket for maximum CRS points. Got a battle with IELTS scores at the moment so might be a good few months lol.


This is what we will likely do if/when we get money. May be a case of never needing it, all depends on other factors.

The main points of this question was to get clarification on whether a lump sum donation was allowed for POF. Seems it is, but we need agreements in place (signed) to show that it is not a loan and has no repayment requirement. I noticed for Ontario PNP that was the case as well, but wasn't 100% sure on whether CIC would also accept it.

christmasoompa

How much are you scoring if you assume max points for age, are you likely to get an ITA straight away or might you wait in the pool for a while? Just bear in mind that as soon as you have a birthday, you lose points immediately for age, it's not 'locked in' when you apply, so if you think it may take you a few months to get an ITA, do factor that in.

Good luck.

jimmynoshoes

Without IELTS being 7 7 7 8 (8 being the listening) we won't have enough points to get an ITA at all, unless we get PNP from Ontario or another province. If we get the above IELTS scores then we'll be around 470 points. We'll know the results in 5 days time. If we magically get the scores needed (we highly doubt), then we'll start the application in a few months as we are still waiting for WES and University to do stuff. If we manage to scrape 3 CBL 9's and one lower, then we will be just above 400 points for the CRS, in which case we may apply and hope Ontario select us.

I thought the points got locked in when you put yourself into the pool. Will have to take that into consideration, thanks for correcting me on that one.

We are thinking of doing the working holiday visa and starting a PR application after a year. The job experience and job offer part of it will easily cover any missing points for the CRS score at that point. My partner will crack on with IELTS in the mean time to try and get the CBL 9's needed otherwise.

reddiola

I thought that the age is locked ...I was banking on it, anyway. Where can I check that?

PMM

Hi

1. It isn't locked, see: http://tinyurl.com/y7d3upcd

"
Age


(Maximum 12 points)


You’ll get points based on your age on the day when we get your application.

christmasoompa

No, afraid not. Your CRS score changes while you are in the pool, it can go either up or down (for example, if you got a job offer/LMIA and changed your profile, it would go up by 50 points). So nothing is fixed until you get an ITA.

HTH.

reddiola

Christmasoompa,

thank you for the clarification. In October I went to the Canada life event in Birmingham, hoping I will find a lot of information on emigrating to Canada, but unfortunately it was more Down Under event with only one stall connected to Canada - Brazolot...
And I was deceived. The guy from the stall said, that the age is locked at the time the application to enter the pool is submitted. It haven't crossed my mind to check that piece of info. I am glad I check this forum, though. It is full of useful knowledge. So there is another point not to go with people like Brazolot...

jimmynoshoes

We found similar when we went to an event in Surrey. Brazolot were pretty much the only thing there to do with Canada, was very much orientated to NZ and Australia despite the name of the event.

We didn't know much about Brazolot at the time, but what I do know now is that their time frames are ambitious to say the least. They seemed nice, but I would always check what is said against information you can find online or by asking on here. I would say that for ANY immigration agent, however. The prices are too high though, I have to agree with every post on that front.

4 days to IELTS results. I'll post scores up on here when we have them, including the CRS score we have at that stage, and see what everyone thinks we should go for at that point.