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Canada Immigration Forum > Immigration Topics > Skilled Worker / Professional Immigration > Topic: What to do with POF draft?
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Author Topic: What to do with POF draft?  (Read 543 times)
Can10
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« on: December 11, 2010, 06:08:28 am »
Dear Captain Qorax and Seniors,

Please help me with your kind advices.

I completed landing formalities in September this year; opened a bank account in Canada and deposited a negligible sum of money and came back to my country of origin. I brought my POF draft back with me and never deposited it in my Canadian bank account. I don't have any immediate plans to move to Canada. The draft is still with me which, as I understand, has a 6-month validity.

Please advise having no funds in Canada would have any negative impact on my PR status, while currently I am absent from the country and have intentions to transfer all my funds only when I am moved to Canada for good sometimes in the future.

I shall be grateful for your kind advices.

Warm regards,
Can10
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barsindoo
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« Reply #1 on: December 11, 2010, 06:32:54 am »
There no negative consequences on you if you don't increase the balance in your account as it relates to your PR status.

You might have problem building a credit rating without exploring the financial institution services.

As par your draft, you can always cash it from the same institution that issued it. You might have to bear some adminstrative charges though.

Finally don't forget you must spend two years in five years on ground in Canada to maintain your PR status.

Peace
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...but you brought us to a place of abundance.
Can10
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« Reply #2 on: December 11, 2010, 07:37:52 am »
many thanks dear barsindoo for your kind input. Yes I know about 2 of 5 year condition and therefore will make my relocation plans accordingly.

Best regards.
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gsidhu
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« Reply #3 on: December 11, 2010, 10:08:26 am »
Quote from: Can10 on December 11, 2010, 07:37:52 am
many thanks dear barsindoo for your kind input. Yes I know about 2 of 5 year condition and therefore will make my relocation plans accordingly.

Best regards.
its 2 of 5 or 2 of 4 year condition
sidhusaab
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Im deadly follower of DESTINY.
Can10
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« Reply #4 on: December 11, 2010, 02:36:11 pm »
As I understand:

1. to maintain PR status: 2 out of 5
2. to apply for citizenship: 3 out of 4

Seniors, kindly confirm
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qorax
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« Reply #5 on: December 11, 2010, 06:28:06 pm »
Quote from: Can10 on December 11, 2010, 02:36:11 pm
As I understand:

1. to maintain PR status: 2 out of 5
2. to apply for citizenship: 3 out of 4

Seniors, kindly confirm

1. Perfectly correct.
2. U can "cancel" that draft @ the issuing office & get the funds deposited in your personal a/c.
3. No adversity in your PR status.

Qorax
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Qorax Indexed:
http://www.canadavisa.com/canada-immigration-discussion-board/-t74858.0.html
Can10
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« Reply #6 on: December 15, 2010, 02:12:39 pm »
Thank you dear Captain Qorax for your kind advice which is well noted ...
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Can10
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« Reply #7 on: February 04, 2011, 07:52:51 am »
Dear Captain Qorax and other Senior members,

While my query was very well explained as above, I have another question related to the same topic.

While I am staying out of Canada, I am planning to get my tax paper submitted for year 2010, of course with NIL statement. Just a thought came to mind that what if authority finds out that I never deposited POF draft in my Canadian account? Though landing record was completed with all required documents shown and recorded in September 2010.

Any effect on my PR status does it bear?

Much appreciate your kind advice.

Best regards.
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Can10
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« Reply #8 on: February 04, 2011, 03:44:34 pm »
Please seniors your advice is needed ... thanks
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scylla
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« Reply #9 on: February 04, 2011, 04:11:03 pm »
No - This won't affect your PR status.
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Can10
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« Reply #10 on: February 04, 2011, 05:34:42 pm »
thanks scylla for your comments.
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