Would 2k-3k CAD$ Transaction create suspicion ?

[kashifshaikh]

i need to maintain approx 15000 CAD$ figure so a major chunk was gifted by my father approximately 12k CAD$ which is covered by a gift deed.. the remaining amount is my own saving from the salary but i keep my saving invested in stocks which is maintained by my brother

i could show the money trail that i gave the 3k CAD to my brother which he later returned to me but just want to know if i should go through all that extra paper work i.e. showing the bank statement of my brother and explaining the same in LOE, might also have to prove him as my brother with additional documents or i should just let it be considering 3k-4k isint a big enough amount to create useless suspicion

suggestions please

 

[mgnlky]

You need to show that you gave him the money, it was held in a stock, and that you cashed the stock out & received the funds back. Otherwise it just looks like you dumped money into your account and CIC will question if it's a loan. By including the money transfer documents/receipts, you show the money was clearly yours, that it was invested, and that you cashed it out for purposes of immigration.

 

[kashifshaikh]

You need to show that you gave him the money, it was held in a stock, and that you cashed the stock out & received the funds back. Otherwise it just looks like you dumped money into your account and CIC will question if it's a loan. By including the money transfer documents/receipts, you show the money was clearly yours, that it was invested, and that you cashed it out for purposes of immigration.

Zzzz so i guess more paperwork then
This means now I'll have to show statement of my savings account as well for that specific period when I transferred money to my brother and explain the same in LOE

I guess you are right, better safe than sorry

 

[kashifshaikh]

Btw on a general note
Should 3k - 4k CAD$ transaction create suspicion ?

 

[arrayofhope]

It is kind of suspect why you would give xxx amount of dollars to your brother to invest, instead of doing it your self. If you can find a way to prove that you actually gave the money to your brother and he is returning it, you are all set.

Worst case, just get a gift deed from your brother. What CIC is looking for is that you have liquid funds to use when you first come to Canada.

 

[mgnlky]

Btw on a general note
Should 3k - 4k CAD$ transaction create suspicion ?

None of us can say what will raise suspicion with CIC. Just play it safe, play by the rules and get the required documentation.

 

[kashifshaikh]

Ok
I will show the transfer of 4k CAD$ from my savings account to my brother's account and attach bank statement of that time period which shows the transfer

Do I then also have to prove the relationship with my brother as well ?

 

[mgnlky]

Ok
I will show the transfer of 4k CAD$ from my savings account to my brother's account and attach bank statement of that time period which shows the transfer

Do I then also have to prove the relationship with my brother as well ?

To be safe, also show the transfer back in, as well as any forms/emails requesting the money back. You don't have to show the relationship because CIC doesn't care who had the money; if it was yours and invested & you show it was invested, you should be fine.