Client Portal
+1(514) 937-9445 or Toll-free (Canada & US) +1 (888) 947-9445
  • Forums
  • Immigration to Canada
  • Express Entry / Expression of Interest

Is gift deed option for Proof of fund is safe ?

P

Prash23

Full Member
Oct 27, 2017
40
3
dandangel said:
They need last 6 months statements of your bank account. If you can wait for that long from the time you open the account till you apply, and the last 6 months statement doesn't show any sudden increase in funds then no documentation or explanation is required.

The most common use case is, people have really old account, ideally from the days you've started earning, and they submit a gift deed from parents once the money is deposited.

The POF requirement is to ensure you (and your family) has enough to survive on basic means in Canada once you arrive even without a source of income for an economic immigration stream. If you manage to get a job, then this requirement is waived off, although this a very rare scene. So, if no job offer, then you have to prove that the prescribed min. amount is met, available to you at the time of application and you have access to it.

The gift deed proves that you don't have to return the gift money and it is yours, so it's ok to show it getting credited anytime in the 6 months statement.
Click to expand...
Hi. I received a gift deed from my parents in mid February and submitted my application before the end of February. The 6 months statements were only till January. I have submitted a gift deed but there is no reflection of gift received in the statements. Will this create a problem? I request an immediate response please
 
H

Hussain91

Hero Member
Jul 8, 2019
211
21
dandangel said:
They need last 6 months statements of your bank account. If you can wait for that long from the time you open the account till you apply, and the last 6 months statement doesn't show any sudden increase in funds then no documentation or explanation is required.

The most common use case is, people have really old account, ideally from the days you've started earning, and they submit a gift deed from parents once the money is deposited.

The POF requirement is to ensure you (and your family) has enough to survive on basic means in Canada once you arrive even without a source of income for an economic immigration stream. If you manage to get a job, then this requirement is waived off, although this a very rare scene. So, if no job offer, then you have to prove that the prescribed min. amount is met, available to you at the time of application and you have access to it.

The gift deed proves that you don't have to return the gift money and it is yours, so it's ok to show it getting credited anytime in the 6 months statement.
Click to expand...
Hi can you tell me whether snip accepts gift deeds as well which are 1 month old. U seem to be a senior in this matter plz do help. Also do you have any idea about AINP my score is below 400 but have a blood sister in Alberta which among a preference under AINP will that help me to receive an NOI from them. Your views will be really helpful
 
S

Sabeen99

Hero Member
Jun 14, 2018
337
51
Yes, gift deed is absolutely fine. I got the gift deed from my sister for 10000$ and I submitted letter in plain paper (gift deed letter) , bank cheque, transaction receipt, my bank statement and bank certificate. My application was approved in 2 months.
 
  • Like
Reactions: Teen Titans Go! and Canadachick05
H

Hussain91

Hero Member
Jul 8, 2019
211
21
Sabeen99 said:
Yes, gift deed is absolutely fine. I got the gift deed from my sister for 10000$ and I submitted letter in plain paper (gift deed letter) , bank cheque, transaction receipt, my bank statement and bank certificate. My application was approved in 2 months.
Click to expand...
Was there a need to keep that gift deed for 3 or 6months or there wasn't need to keep it
 
H

Hussain91

Hero Member
Jul 8, 2019
211
21
Sabeen99 said:
I got my gift deed on March 15 and I submitted my documents on March 21, 2019.
Click to expand...
Hey as for gift deed you applied through SNIP or some PNP or got direct entry on your CRS score. What was your CRS and NOC would be really helpful. Also thanks alot for your help.
 
S

Sabeen99

Hero Member
Jun 14, 2018
337
51
Hussain91 said:
Hey as for gift deed you applied through SNIP or some PNP or got direct entry on your CRS score. What was your CRS and NOC would be really helpful. Also thanks alot for your help.
Click to expand...
I am FSW- Inland applicant. My CRS was 493, Primary NOC : 4012
 
A

Amacassok

Full Member
Aug 14, 2019
47
3
Urgent please!!
Hello,

is it safe to receive money gift deed from our family business company and can I submit this gift deed as POF for my PR application?

Thank you for your swift response...
N.B.. I am also a director in this company.
 
You must log in or register to reply here.