About proof of funds

[Dentist_india]

Hi All

Please help me with this. I am a graduate student in US and on graduate assistantship. My application looks strong except one problem. I am going to apply for the skilled workers immigration. I did not have sufficient funds to show. so i borrowed some money from my friends for a long term to keep in my account. this will be reflected in my 3 or 6 months statements. What is the best possible scenario to apply in a legal manner

Your help is highly appreciated

Dentist_India

 

[mayankpandya]

It depends on the amount you are planning to borrow . If it very high then VO may ask you for clarification
.

Regards,
Mayank

Hi All

Please help me with this. I am a graduate student in US and on graduate assistantship. My application looks strong except one problem. I am going to apply for the skilled workers immigration. I did not have sufficient funds to show. so i borrowed some money from my friends for a long term to keep in my account. this will be reflected in my 3 or 6 months statements. What is the best possible scenario to apply in a legal manner

Your help is highly appreciated

Dentist_India

 

[canadaforall]

It depends on the amount you are planning to borrow . If it very high then VO may ask you for clarification
.

Regards,
Mayank

Yes i agree with you. In my case i saved up the money and decided to put it in a deposit account in my names to avoid using up the money. i sent it to the visa office and they are asking me bank statement for six months. When i sent the statement i also sent a bank statement daily transactions for 3 months. I got the information through Caip notes.

They have not asked me officially about the statement, so many forum members were of the opinion that i should wait until when i am asked to send the statement for 6 months.

So you have to be careful when you borrow the funds. Make sure you can show then anytime the require including a daily detailed transactions of how money comes in and go out.

hope it helps.

 

[Cappuccino]

Hi All

Please help me with this. I am a graduate student in US and on graduate assistantship. My application looks strong except one problem. I am going to apply for the skilled workers immigration. I did not have sufficient funds to show. so i borrowed some money from my friends for a long term to keep in my account. this will be reflected in my 3 or 6 months statements. What is the best possible scenario to apply in a legal manner

Your help is highly appreciated

Dentist_India

In a legal manner, you may not borrow the money. IT MUST BELONG TO YOU.

CIC are very clear about this on their website, why do you want to defraud your way into Canada?

I don't wish to sound harsh - but if you do not have the required funds then you are not eligible to apply. My advice is that if you do not have the money, you save up and then apply when you do have the money.

Presumably after you have got the visa you would then pay this money back to your friends that you are intending to borrow, leaving you without sufficient funds to sustain yourself whilst you establish yourself in Canada? And by cheating the system you could potentially be taking the place of an eligible applicant who does have the required funds but misses the cap?

Hmm, sorry - like I said I didn't wish to sound harsh
But just "telling it how it is". Play fair.

Wayne.

 

[canadaforall]

In a legal manner, you may not borrow the money. IT MUST BELONG TO YOU.

CIC are very clear about this on their website, why do you want to defraud your way into Canada?

I don't wish to sound harsh - but if you do not have the required funds then you are not eligible to apply. My advice is that if you do not have the money, you save up and then apply when you do have the money.

Presumably after you have got the visa you would then pay this money back to your friends that you are intending to borrow, leaving you without sufficient funds to sustain yourself whilst you establish yourself in Canada? And by cheating the system you could potentially be taking the place of an eligible applicant who does have the required funds but misses the cap?

Hmm, sorry - like I said I didn't wish to sound harsh
But just "telling it how it is". Play fair.

Wayne.

Hi Wayne,
I agree with you. In my case the money is mine, but still the visa officer wants a day to day transaction of my accounts for 6 months. I have worked for more than 8 years, so i have no problem providing this daily transaction of my account and also i sent pay slips to the visa office.

Wayne, a quick question,

In my Caip Notes, i was asked for this daily transactions of my account and when i sent the information to the forum, many members said i should wait until the visa officer ask me, what is your opinion?

 

[Baloo]

In a legal manner, you may not borrow the money. IT MUST BELONG TO YOU.

CIC are very clear about this on their website, why do you want to defraud your way into Canada?

I don't wish to sound harsh - but if you do not have the required funds then you are not eligible to apply. My advice is that if you do not have the money, you save up and then apply when you do have the money.

Presumably after you have got the visa you would then pay this money back to your friends that you are intending to borrow, leaving you without sufficient funds to sustain yourself whilst you establish yourself in Canada? And by cheating the system you could potentially be taking the place of an eligible applicant who does have the required funds but misses the cap?

Hmm, sorry - like I said I didn't wish to sound harsh
But just "telling it how it is". Play fair.

Wayne.

I think we all know that "borrowed money" happens a lot, like you and the CIC, I think that it stops legitimate applicants from applying.
No doubt this will be looked at some time - because it needs to be.

 

[Cappuccino]

I think we all know that "borrowed money" happens a lot, like you and the CIC, I think that it stops legitimate applicants from applying.
No doubt this will be looked at some time - because it needs to be.

Well for starters 12 months bank statements would be more realistic than 3 to 6 months IMO. Somebody deciding in July 2010 that they wanted to apply (but had no money) could easily borrow the money, keep it in their bank until January 2011 - then send their application with 6 months bank statements and pretend it was their money all along, and make it within the cap if they weren't in one of the 3 or 4 most popular NOCs. And annoyingly could take a place from someone else just applying who was legitimately showing proof of their own money.

With 12 months statements there is no way you could "borrow" the money and apply within the same fiscal year. You don't have to have had the entire sum in the bank for that full 12 months, of course. If you were saving steadily over 12 months that would be fine. But they need to see that large sums have not been deposited, and if they have been deposited then they need to be properly explained and documented.

CIC seem to be taking measures in other areas (such as fraudulent job offers) to counteract fraud, so perhaps this is an area they will look at.

Ineligible people borrowing money and illegally applying is not only unfair to other applicants, but also unfair to themselves because without the required funding they will find things very tough when they first get to Canada.

Wayne.

 

[Cappuccino]

Hi Wayne,
I agree with you. In my case the money is mine, but still the visa officer wants a day to day transaction of my accounts for 6 months. I have worked for more than 8 years, so i have no problem providing this daily transaction of my account and also i sent pay slips to the visa office.

Wayne, a quick question,

In my Caip Notes, i was asked for this daily transactions of my account and when i sent the information to the forum, many members said i should wait until the visa officer ask me, what is your opinion?

I think they say you can send additional documentation at any time, so it's your call. Just depends on how good or bad your postal service is as to how much time you will save if you send it ahead.

For us our proof of funds is twofold. When we first applied we sent 3 estate agent quotes and 1 mortgage letter proving the equity we hold in our house (just over twice the minimum required funds) but since then we have been saving in a savings account and now have more than the minimum required funds in cash in savings anyway, so we sent them all the bank statements (almost 12 months' worth) as well. This means we have approximiately 3 times the minimum required - 2/3rds in house equity and 1/3rd in cash in the bank. We haven't ordered CAIPS notes and we haven't been asked to provide any further documentation. But since we went into process last week and our bank statements arrived at CHC London yesterday hopefully it is quite well timed

Obviously we don't want to put our house up for sale until we are sufficiently advanced in the process to be fairly confident of being accepted, so I think we're going to wait for medical requests and also a few jobs need doing, so we're thinking of putting it up for sale around May time to catch the main summer selling window.

Wayne.

 

[Aycan1998]

Well for starters 12 months bank statements would be more realistic than 3 to 6 months IMO. Somebody deciding in July 2010 that they wanted to apply (but had no money) could easily borrow the money, keep it in their bank until January 2011 - then send their application with 6 months bank statements and pretend it was their money all along, and make it within the cap if they weren't in one of the 3 or 4 most popular NOCs. And annoyingly could take a place from someone else just applying who was legitimately showing proof of their own money.

With 12 months statements there is no way you could "borrow" the money and apply within the same fiscal year. You don't have to have had the entire sum in the bank for that full 12 months, of course. If you were saving steadily over 12 months that would be fine. But they need to see that large sums have not been deposited, and if they have been deposited then they need to be properly explained and documented.

CIC seem to be taking measures in other areas (such as fraudulent job offers) to counteract fraud, so perhaps this is an area they will look at.

Ineligible people borrowing money and illegally applying is not only unfair to other applicants, but also unfair to themselves because without the required funding they will find things very tough when they first get to Canada.

Wayne.

I totally agree. Why not be honest from the onset. If you have not got the funds as required they you should not apply until you have said funds and/or unless you can acquire sufficient funds (through earnings) to meet the minimum financial requirements. Prior to applying for PR, I made sure that I had more than enough funds on my account as proof and my funds were acquired over a period of time. 12 months is more reasonable.

 

[Baloo]

Ineligible people borrowing money and illegally applying is not only unfair to other applicants, but also unfair to themselves because without the required funding they will find things very tough when they first get to Canada.

I have seen plenty of people get stuck in that situation, there is no substitute for a pile of your own money when you arrive in Canada.
The cost of living is a surprise to many immigrants; At the moment the government has made mortgages harder to get (more costly), we are also looking at food price rises of 8% and a whole slew of Hydro (electicity) price increases to come. It;s no bed of roses in Canada at present.

 

[canadaforall]

I think they say you can send additional documentation at any time, so it's your call. Just depends on how good or bad your postal service is as to how much time you will save if you send it ahead.

For us our proof of funds is twofold. When we first applied we sent 3 estate agent quotes and 1 mortgage letter proving the equity we hold in our house (just over twice the minimum required funds) but since then we have been saving in a savings account and now have more than the minimum required funds in cash in savings anyway, so we sent them all the bank statements (almost 12 months' worth) as well. This means we have approximiately 3 times the minimum required - 2/3rds in house equity and 1/3rd in cash in the bank. We haven't ordered CAIPS notes and we haven't been asked to provide any further documentation. But since we went into process last week and our bank statements arrived at CHC London yesterday hopefully it is quite well timed

Obviously we don't want to put our house up for sale until we are sufficiently advanced in the process to be fairly confident of being accepted, so I think we're going to wait for medical requests and also a few jobs need doing, so we're thinking of putting it up for sale around May time to catch the main summer selling window.

Wayne.

Hi Wayne,
Thanks for the answer to my question. I decided to wait for their request before sending it , because they were other documents that i have in my file and they Visa officer placed them like documents, he will require me to send them later.
That is the main reason why, i decided to wait, it is not the only document they want from me. Even though other documents are in my file. He speaks French and does not understand my documents and gets so confused with the file. I am patient and will follow him till the end of the game is over.

I am sill waiting for them to send me communication asking for the documents.

Thanks .

 

[canadaforall]

I have seen plenty of people get stuck in that situation, there is no substitute for a pile of your own money when you arrive in Canada.
The cost of living is a surprise to many immigrants; At the moment the government has made mortgages harder to get (more costly), we are also looking at food price rises of 8% and a whole slew of Hydro (electicity) price increases to come. It;s no bed of roses in Canada at present.

Hi Baloo,

It is good to save up your own money, for some of us who having been living abroad for years, it is much better. You know how to manage your expenses. For those getting out of their country of origin for the first time they better prepare well.

Yes Baloo this is the problem with the new system that will be introduced in July 2011, the younger applicants will have the points advantage as they are you , but they will lack the funds, since it is difficult to accumulate a large sum of money and some may even lack the many years of experience, if cic puts more than one year for experience. Things will become harder and borrowing will take place and CiC are taking note of this and they ask for Bank statement in the middle of the process or at the end of the process , before visa issuance.

Wish ourselves good luck.

 

[Dentist_india]

What if someone get money from his/her parents. which is not borrowed but gifted by them. is it possible if yes what proof need to be furnished.

 

[Baloo]

Yes Baloo this is the problem with the new system that will be introduced in July 2011, the younger applicants will have the points advantage as they are you , but they will lack the funds, since it is difficult to accumulate a large sum of money and some may even lack the many years of experience, if cic puts more than one year for experience. Things will become harder and borrowing will take place and CiC are taking note of this and they ask for Bank statement in the middle of the process or at the end of the process , before visa issuance.

Wish ourselves good luck.

You are right the new system will cause more borrowing to happen, of course that specific issue is likely to be policed with a lot more vigour.

No matter what the government says, what they are actually trying to do is limit immigration, because that request for a reduction is a common thread amongst cradle Canadians.

 

[shuhash]

What if someone get money from his/her parents. which is not borrowed but gifted by them. is it possible if yes what proof need to be furnished.

make sure you have that fund untill they issue medical ... in my case i showed 12 months statement for 1 account and other account for 9 months ... at least on my part fund was not an issue so i cant really comment on your issue... but above was recommended by my lawyer ....

but if u want to take a chance then go for it .. good luck .. i know someone who got through .. he didnt have enough fund so he borrowed that amount from a friend and showed that as his POF ... he is successfully settled in toronto