ONIP Funds with in Ontario but not working!

[akhil5293]

Hey Guys,

If anyone gone through this situation please advice

I'm in Canada at the moment on closed wp but I left the job and not working with the employer anymore and looking for some other jobs??

How can I suppose to show the funds. I'm short of required funding, I have my relatives liking can I borrow from my cousins ?

what I suppose to do please advice!!

 

[JoacRy]

A couple of points here:

Point 1: As you are on a 'Closed' Work Permit I don't think you can work for another employer.

Point 2: What you need to do is go to your bank manager and get them to draft a letter showing that you have 'X' amount of funds in your bank account(s). It needs to be on letterhead, and needs to be signed by the manager. Also provide 6 months of bank statements.

You can borrow money from your family members but you will need a 'Gift Deed' showing that they are giving you a 'gift', or a 'Loan Agreement' stating that you will pay them back in the future.

 

[akhil5293]

Can you provide me the details specifically about the "gift deeds" how can I show that and what I need to do for that please advice.

Thanks!

 

[JoacRy]

Can you provide me the details specifically about the "gift deeds" how can I show that and what I need to do for that please advice.

Thanks!

Well a Gift Deed is a letter saying that the person giving you the money does not expect to receive it back. Make sure it's witnessed by a Notary Public.

Here's an example:

I, _________________ (name of donor), S/o _________________ (relative’s name), R/o _____________________ (address), do hereby on dated __________ make a gift-deed for a gift made on dated of ___________, Currency. ______/- (Currency in word) out of love and affection to my ____________ (mention the relationship & name of receiver), S/o or W/o _______________, R/o _________________________. I confirm that I am a resident of (Country). I, further confirm that this gift is being made out of my own funds standing to the credit of my A/c No.- __________ in
____________(mention the Bank name & address).
I, further confirm that the consideration for this gift is the love and affection for my ____________________ (mention the relationship & name of receiver) and no other consideration.
I am an Income Tax assessee having PAN/GIR # A-984 / N and assessed with Income Tax, and this gift is made out of my past savings from profession in (country). Strictly Confidential 2 P A R Y & Co.
I further confirm that the gift has been made by Cheque No ___________ dated _______ drawn on ___________________________ (mention the Bank name & address). This gift is irrevocable and I have no claim left whatsoever on the said gifted amount and he/she is free to utilise it in any manner.

PLACE:
DATED: _______________________
(Donor name)


Witness:
The gift as stated above is accepted




______________________
(Name of receiver)