Philippine Asian News Today Vol 20 No 07 | Page 10

10 PHILIPPINE ASIAN NEWS TODAY April 1 - 15 , 2018

The Notary Corner

By Editha Corrales Nelson Immigration Consultant , Notary Public , Mediation / Arbitrator
You may need a criminal and security check ( police certificate ) if you are coming to Canada as a :
• live-in caregiver ,
• tourist ,
• student or
• temporary worker .
When you apply to become a permanent resident , you must get a police certificate .
HOW TO GET A POLICE CERTIFICATE ( POLICE CHECK )
When you apply to become a permanent resident or a Canadian citizen , you and your family members must include a police certificate . If you are applying as a visitor , student or temporary worker , a visa office may also ask you for a certificate .
WHAT IS A POLICE CERTIFICATE ?
A police certificate is a copy of your criminal record or a statement that you do not have a criminal record . Police certificates are different in each country and territory . They may be

POLICE CERTIFICATES ( POLICE CHECKS ) called :

• police clearance certificates ,
• good conduct certificates ,
• judicial record extracts or
• other names . WHO NEEDS A POLICE
CERTIFICATE ?
In general , you and all the people in your family who are 18 or older need to get a police certificate . You must get one from each country or territory where you have lived for six or more months in a row since the age of 18 . ( For example , if you lived in a country for eight months but left on a two-week vacation , that counts as living there for eight months .)
For the country you currently live in , the police certificate must be issued no more than six months before you apply .
For countries where you have lived for six months or more , the police certificate must be issued after the last time you lived in that country .
If your certificate is in a language other than English or French , send it when you apply , along with the original copy of a translation done by a certified translator . HOW DO I GET ONE ? In most cases , you must contact the police or government to ask for a certificate . You may have to :
• provide information or documents , such as photographs , fingerprints , or your addresses and dates that you lived in the country or territory , and
• pay a fee .
Use our online tool to find out how and where to get a police certificate in the country where you live . If contact information is not available there , contact the national police agency , or your country or territory ’ s embassy or consulate in Canada .
If you lived in a country that has changed its name or status , the police certificate should come from the current national authorities of that country . If you are not able to get a police certificate from a country because you are a refugee from that country or for any other reason , please explain the reasons in writing .
CIC will also do background checks anywhere you and your family members have lived . These checks will show if you have had any arrests or convictions , or if you are a security risk to Canada
** Strictly taken from cic website
A Canadian Certified Immigration Consultant , Certified Senior Advisor and a Notary Public in the City of Burnaby , Editha Corrales Nelson ’ s preferred areas of practice are Powers of Attorney , Wills Preparation , International Legal Documents , Name Changes , Affidavits , Letters of Invitation , Statutory Declarations , Drafting of Business Contracts and other notarial services . For an appointment , please call : 604-777- 2757 .
The following should not be construed as providing legal advice and information in this column is intended only as a general guide and should not be applied to specific circumstances without further consultation . For more information on the subject , contact Editha Corrales Nelson at 604-777-2757 or email : corrales @ shaw . ca .

Buying vs . Renting ?

With the current heated real estate
MYLENE LIM market , a lot
Licensed Mortgage Specialist of Canadians are asking themselves whether it ’ s better to rent or buy a home . Is it worth paying the ever-increasing monthly rental with no security on how long you could continue living in your rented home ? Isn ’ t it better to use the money on a monthly mortgage payment on a property that is yours ? Is there a market bubble in real estate that may affect your property ’ s future value ?
Ultimately , this will be a personal decision depending on what you ’ re most comfortable with . To help you determine this , here are some pros and cons of home ownership vs . renting HOMEOWNERSHIP Advantages : Owning a home is considered a long-term sound investment . As long as the market is stable or in an upswing , the mortgage payment that you do every month helps in increasing the equity of your property . Some property owners look at the mortgage payments as “ forced savings ” with the end result of getting more value on your investment than had you used this money for something else .
During the early years of your mortgage payments , a bigger portion of your monthly payment may go towards the interest of your loan but as your principal loan becomes smaller , the interest portion of
your payment will proportionately decrease . Most mortgage lenders also give you an option to pay a lump sum amount every year ( normally up to a maximum of 15 % or 20 % of your principal loan ) or double up on your monthly payment . This would drastically shorten your amortization period and thereby you will get to fully own your home faster .
Another advantage of owning your home as your principal residence is that should you decide to sell the property , you are except from paying capital gains on the equity of your property .
There are a lot of homeowners who may not have access to a big down payment start with a smaller property and build up on the equity of that property . After a few years , they sell or refinance the property and use the equity they have gained to use as a down payment for a bigger property or re-invest on a second property . Waiting for the time when you will have saved enough down payment money for your dream home may not come . Property values have gone up faster than increases in income . Most probably , you would not be able to afford the property you could have bought a year ago with your income .
You will also have a sense of pride of being a homeowner as oppose to being a renter . You will be able to decorate your own property based on your personal style , within strata guidelines if applicable . Disadvantages : Home ownership is generally the
biggest investment you can own in your lifetime . With it come big responsibilities . If you have a mortgage on your home just like majority of homeowners , you are obligated to a monthly mortgage payment without fail . There is no getting around this . You will have to take this obligation into account when you review your financial situation and plan around this .
Aside from monthly mortgage payment , you will have to consider the annual property tax , monthly strata payment if applicable , repair and maintenance , water and heating bills , etc .
You will also need to take into account that you will be less flexible in relocating to another area if better opportunities arise . RENTING Advantage : The main advantage of renting is you are not indebted to a monthly mortgage payment . You have the flexibility to adjust your housing cost based on what you can afford at any time . You will also have the ability to
relocate to another area if you prefer . Disadvantage : Your rental payment is an expense . You will not be able to see that rental money back .
As a renter , you won ’ t have the security of being able to stay in your rented property forever . You may find yourself looking for another rental property once the landlord gives you the required two months ’ notice to vacate . And in this heated real estate market , there are renters who have had to transfer a few times in the last few years .
Another negative factor in renting is that the rental properties are getting more expensive . Sometimes more expensive than paying for mortgage .
Borrowers should discuss with a licensed mortgage broker the different options available for their particular situation so they could make educated decisions based on their unique needs . In most cases , it doesn ’ t cost borrowers anything to discuss , review and arrange their mortgage with a licensed mortgage broker so take advantage of this opportunity .
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