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Statement Of Financial Support Form

Statement Of Financial Support Form Template for Philippines

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Key Requirements PROMPT example:

Statement Of Financial Support Form

"I need a Statement of Financial Support Form to sponsor my niece's university education in Manila starting January 2025, committing to cover her tuition fees, accommodation, and monthly living expenses of 25,000 PHP for a four-year period."

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Document background
The Statement of Financial Support Form is a crucial document in Philippine legal and administrative processes, particularly in immigration, education, and visa applications. This document serves as a formal declaration where a sponsor commits to providing financial support to a beneficiary, ensuring they will not become a public charge. The form must comply with Philippine immigration regulations, including the Immigration Act of 1940 and relevant Bureau of Immigration memoranda. It typically requires notarization and must be accompanied by supporting documentation proving the sponsor's financial capacity. The document is commonly used when foreign students apply for study visas, during family sponsorship for immigration purposes, or when proving financial support for dependent visa applications. The form's content and structure are designed to meet the requirements of Philippine authorities while providing clear evidence of financial responsibility and support commitment.
Suggested Sections

1. Document Title and Date: Clear identification of the document as a Statement of Financial Support with date of execution

2. Sponsor Information: Complete details of the financial sponsor including full legal name, nationality, current address, contact information, and government-issued ID numbers

3. Beneficiary Information: Full details of the person being supported including full legal name, nationality, current address, and relationship to sponsor

4. Financial Support Declaration: Explicit statement of financial support commitment, including the amount or nature of support and duration

5. Source of Income: Declaration of sponsor's employment, business, or other sources of income that enable them to provide the support

6. Legal Declaration: Statement affirming the truth and accuracy of all information provided, with acknowledgment of legal responsibilities

7. Notarization Block: Space for notary public's authentication of the document

Optional Sections

1. Purpose of Support: Specific reason for financial support (e.g., education, immigration, medical) - include when support is for a specific purpose

2. Additional Beneficiaries: Section for listing multiple beneficiaries if support extends to family members - include when supporting multiple individuals

3. Terms and Conditions: Specific conditions or limitations of support - include when support has specific constraints or requirements

4. Emergency Contact Information: Additional contact persons - include when required by institutions or for emergency situations

5. Termination Clause: Conditions under which support may be terminated - include when support is conditional or time-bound

Suggested Schedules

1. Proof of Income: Copies of salary statements, tax returns, or other income documentation

2. Bank Statements: Recent bank statements showing financial capability

3. Employment Certification: Current employment verification or business registration documents

4. Identity Documents: Copies of government-issued IDs of sponsor and beneficiary

5. Property Documents: Optional documentation of assets and properties if relevant to financial capacity

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Education

Immigration Services

Legal Services

Financial Services

Healthcare

International Business

Government Services

Travel and Tourism

Diplomatic Services

Relevant Teams

Legal

Compliance

Administrative Services

International Relations

Student Services

Document Processing

Immigration Services

Human Resources

Risk Management

Relevant Roles

Immigration Officer

Visa Processing Officer

Compliance Officer

Administrative Manager

Legal Assistant

International Student Advisor

Embassy Liaison Officer

HR Manager

University Admissions Officer

Legal Counsel

Document Control Specialist

Foreign Student Coordinator

Visa Application Specialist

Industries
Immigration Act of 1940 (Commonwealth Act No. 613): Provides the basic framework for immigration requirements in the Philippines, including documentation requirements for proving financial capacity of sponsors.
Bureau of Immigration Memorandum Order No. RAJ-07-003: Specifies requirements for proving financial capacity and support for foreign nationals in the Philippines, including format and content of supporting documents.
Civil Code of the Philippines (Republic Act No. 386): Governs contract formation and obligations, ensuring the legal validity and enforceability of financial support commitments.
Rules on Notarial Practice (A.M. No. 02-8-13-SC): Provides guidelines for proper notarization of documents, which is typically required for Statements of Financial Support to be legally valid.
Anti-Money Laundering Act of 2001 (Republic Act No. 9160): Ensures compliance with financial transparency requirements when declaring sources of funds and financial support capabilities.
E-Commerce Act of 2000 (Republic Act No. 8792): Relevant if the financial support statement needs to be processed or transmitted electronically, ensuring legal recognition of electronic documents.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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