Proof of Funds: Format of Gift Deed, Affidavit and LOE

[zhasan92]

Hello, We received ITA last week on 12 July, I have 2 questions

1. Last month we had a baby, we are in process of making his passport, hopefully, we'll get it next week on 25 July, after getting his passport can I add him directly in my Permanent Residency application in my portal? without informing IRCC. We wanted to submit our application along with our son, as we have enough time to submit all documents. We did not take Medical Appointment yet as we are waiting for his passport. So should I add him first in profile and then apply for medical tests for all 3 applicants together?

2. We were maintaining funds for a family of 2 for the past 5 months, now we are family of 3, and POF requirement increased, unfortunately, I do not have enough funds to add to my account, so I am planning to take a gift deed from my sister for the remaining amount. Will that work?

Note: I am accompanying spouse and I have all funds in my account, it is a single account not a joint account with my wife. We are planning to add LOE with our application that my wife has access to all the funds that are in my account.

 

[ambitious1234]

Is it OK to receive full amount required for POF from real brother or father before few months of submission ? if there are two options to receive gift from for a applicant in india 1. Father in India 2. Brother in Canada, who is more recommended to receive these funds from as gift ?

 

[vis.sneha]

Is it OK to receive full amount required for POF from real brother or father before few months of submission ? if there are two options to receive gift from for a applicant in india 1. Father in India 2. Brother in Canada, who is more recommended to receive these funds from as gift ?

Yes, you can get full amount as gift. It doesn't make difference whoever gives it, dad or brother. Once we get it, we are expected to make a FD for minimum 1 year. You can show this FD as POF within a week, no need to wait for months. Only if the money is in ur bank account, you need to wait for 6 months.

 

[iSaidGoodDay]

Yes, you can get full amount as gift. It doesn't make difference whoever gives it, dad or brother. Once we get it, we are expected to make a FD for minimum 1 year. You can show this FD as POF within a week, no need to wait for months. Only if the money is in ur bank account, you need to wait for 6 months.

Are we really expected to make an FD here? I thought doing a simple gift deed was enough.

 

[vis.sneha]

Liquid cash is expected to be in account for 3-6 months.. My consultant asked me to keep for 6 months before taking statement and submit. For FD, the next day itself you can take statement..
Do Cross check somewhere for confirmation.

 

[iSaidGoodDay]

Liquid cash is expected to be in account for 3-6 months.. My consultant asked me to keep for 6 months before taking statement and submit. For FD, the next day itself you can take statement..
Do Cross check somewhere for confirmation.

I think you followed what your consultant said. But one doesn't necessarily need to make FD for gift deeds. Also, gift deed ever after ITA is fine, no need for it to be there for 3-6 months. IRCC only wants to make sure that you don't have a loan for PoF - as long as the money is yours to use, you'll be fine.

 

[vis.sneha]

I think you followed what your consultant said. But one doesn't necessarily need to make FD for gift deeds. Also, gift deed ever after ITA is fine, no need for it to be there for 3-6 months. IRCC only wants to make sure that you don't have a loan for PoF - as long as the money is yours to use, you'll be fine.

Ok.. Then do that if you are confident about it. I just told what I did and i can advice only what I did. Making a FD was just 1 day work and Covid affected my application and i did get good interest.
Good luck.

 

[iSaidGoodDay]

Ok.. Then do that if you are confident about it. I just told what I did and i can advice only what I did. Making a FD was just 1 day work and Covid affected my application and i did get good interest.
Good luck.

I'm a PR too My take was only about keeping the application as simple as we can to support faster processing and reduced efforts in documentation. Cheers!

 

[iSaidGoodDay]

Is it OK to receive full amount required for POF from real brother or father before few months of submission ? if there are two options to receive gift from for a applicant in india 1. Father in India 2. Brother in Canada, who is more recommended to receive these funds from as gift ?

You should consider reading this advice from Legalfalcon(he's a lawyer) on what to do: https://www.canadavisa.com/canada-immigration-discussion-board/threads/gift-deed-as-pof-while-donor-and-receiver-in-different-countries.683176/post-8559090

>The gift deed has to be signed by both the donor and the donee. However, only the donors can execute the deed, as in draft it and sign it, and send it to the donor, who can then sign it after it is received by him / her.

>This is for donors in India, and in accordance with the Transfer of Property Act, 1882. Section 122 lays down the requirement for how the gift is made. The basic requirements that should be met in a gift deed are:

>a. The transfer should be made voluntarily;
b. without consideration (no expectation of money, return, or other favours); and
c . an acceptance by the donee (acceptance can be by acknowledging in writing that the gift has been received or by the act of receiving it). - This is where the donee has to sign as it provides proof of acceptance.

 

[ambitious1234]

Ok.. Then do that if you are confident about it. I just told what I did and i can advice only what I did. Making a FD was just 1 day work and Covid affected my application and i did get good interest.
Good luck.

Thanks for your feedback. Appreciate your efforts to help community

 

[ambitious1234]

Thanks for both responses. I just saw one blog post that made me worried, which says that below. I can see may posts on this forum who used gift deed from parents or sibling and seems to have no issues.

https://www.immiboards.com/blog/proof-of-funds-canada/

As per IRCC, the Express Entry Applicant must have the funds in the form of available and transferable funds “unencumbered” by debts or other obligations equal to 50% of the minimum necessary funds.

We have observed few applications being rejected as the visa assessment officer was not satisfied with a “gift deed” as the amount received amounted to more than 50% of the minimum necessary funds for Express Entry.

As you can read, the visa officer talks about demonstrating “transferable” and “available” funds. However, the visa officer also red flags that out of the required minimum funds for express Entry, more than half of the amount came from gift deeds of distant relatives. Hence, the Express Entry application was rejected.

Essential things to keep in mind based on this example:

• Avoid taking money from relatives such as brother, sister-in-law, uncle etc. It is better that the parent gifts the money to you to support your fund’s requirement for Express Entry.
• Ensure that the gift deed does not make up more than 50% of your bank balance. Keep it under 50% - @legalfalcon Can you shed some light?

 

[iSaidGoodDay]

Thanks for both responses. I just saw one blog post that made me worried, which says that below. I can see may posts on this forum who used gift deed from parents or sibling and seems to have no issues.

https://www.immiboards.com/blog/proof-of-funds-canada/

As per IRCC, the Express Entry Applicant must have the funds in the form of available and transferable funds “unencumbered” by debts or other obligations equal to 50% of the minimum necessary funds.

We have observed few applications being rejected as the visa assessment officer was not satisfied with a “gift deed” as the amount received amounted to more than 50% of the minimum necessary funds for Express Entry.

As you can read, the visa officer talks about demonstrating “transferable” and “available” funds. However, the visa officer also red flags that out of the required minimum funds for express Entry, more than half of the amount came from gift deeds of distant relatives. Hence, the Express Entry application was rejected.

Essential things to keep in mind based on this example:

• Avoid taking money from relatives such as brother, sister-in-law, uncle etc. It is better that the parent gifts the money to you to support your fund’s requirement for Express Entry.
• Ensure that the gift deed does not make up more than 50% of your bank balance. Keep it under 50%

There's no restriction on the percentage amount of gift deed and it can be upto 100%. These links don't explain the real cause behind the rejection. Honestly, I'm yet to see a PFL where gift deed being more than 50% was the reason for issuing it. Also, these blogs are written by unqualified content writers who have no real expertise and as a result this is nothing more than SEO spam. If you are confused, go to this thread and ask Legalfalcon: https://www.canadavisa.com/canada-immigration-discussion-board/threads/thank-you-legalfalcon.408185/page-1128 Legalfalcon is a Regulated Canadian lawyer and knows it better.

 

[mihir9991]

You should consider reading this advice from Legalfalcon(he's a lawyer) on what to do: https://www.canadavisa.com/canada-immigration-discussion-board/threads/gift-deed-as-pof-while-donor-and-receiver-in-different-countries.683176/post-8559090

>The gift deed has to be signed by both the donor and the donee. However, only the donors can execute the deed, as in draft it and sign it, and send it to the donor, who can then sign it after it is received by him / her.

>This is for donors in India, and in accordance with the Transfer of Property Act, 1882. Section 122 lays down the requirement for how the gift is made. The basic requirements that should be met in a gift deed are:

>a. The transfer should be made voluntarily;
b. without consideration (no expectation of money, return, or other favours); and
c . an acceptance by the donee (acceptance can be by acknowledging in writing that the gift has been received or by the act of receiving it). - This is where the donee has to sign as it provides proof of acceptance.

PLs. help me. it's urgent.I'm currently in Canada on a Post-Graduation Work Permit (PGWP), and I've received an Invitation to Apply (ITA) for Provincial Nominee Program (PNP). As part of the document submission process for Proof of Funds (POF), I plan to include a gift deed from my father, who is currently in India. However, I'm unsure about how to fulfil point C, as I am currently physically present in Canada.

 

[ambitious1234]

PLs. help me. it's urgent.I'm currently in Canada on a Post-Graduation Work Permit (PGWP), and I've received an Invitation to Apply (ITA) for Provincial Nominee Program (PNP). As part of the document submission process for Proof of Funds (POF), I plan to include a gift deed from my father, who is currently in India. However, I'm unsure about how to fulfil point C, as I am currently physically present in Canada.

You can make ask your father to make a gift deed in india and keep one page or portion for your to accept this Gift in presence of a witness. Better to use a notary/lawyer as a witness in canada. So your father does all paper work, notarize it in india and once complete send you a soft copy along with gift acceptance page, which you can accept by signing in front of notary in Canada. make sure to include all details of money transfer in gift deed.