A complete way to nail 'Source of fund' dilemma!

[anujgupta84]

Anuj,

Do I need to get a net worth certificate for my wife? I have got the gift deed and self declaration form from her after she transferred the money into my account. She is a co-applicant in the EE process

Her net-worth is Not needed. Even her account would have worked for POF. Nevertheless, just use the bank letter from your account, statements, gift deed and affidavit. That's all you need.

 

[zanny]

Mutual funds won't work for POF. Sell the units, get the funds in Bank account, then use that account.

I have sold them partially to meet the requirement. I will be using the statement from mutual fund house in LoE to show the proof of sale of financial asset. Just want to check if the stamp is indeed needed. Will have get some jugaad if they refuse the stamp

 

[anujgupta84]

I have sold them partially to meet the requirement. I will be using the statement from mutual fund house in LoE to show the proof of sale of financial asset. Just want to check if the stamp is indeed needed. Will have get some jugaad if they refuse the stamp

Ok. Don't use any jugaad. Do not tamper with official docs. Include original MF Statements. Don't play with it!

 

[Tishfaith]

Hi,


I see that CIC is asking about any credit card and loans. Should persons declare their mortgage?

What is the impact of declaring or not declaring a mortgage?

Can a rejection result from declaring or not declaring the mortgage when you plan to sell the property?

Thanks.

 

[anujgupta84]

Hi,


I see that CIC is asking about any credit card and loans. Should persons declare their mortgage?

What is the impact of declaring or not declaring a mortgage?

Can a rejection result from declaring or not declaring the mortgage when you plan to sell the property?

Thanks.

I suggest you to include everything beforehand. If not documents, one should definitely mention the details in the LOE. Rather than them asking us for explanation, we should be earnest in giving them the answers while filing the application.

 

[kristelgen]

I have a quick query. I'm currently in the EE POOL and I applied for NSNP last September. I currently have a required amount 12,000 CAD on my old bank since December 2014. Now, I'm planning to open a new one on the bank near my home and transfer some of the amount. Do you think this will be a problem and subject to rejection by CIC provided that I can give a bank statement from old and new bank anytime? Thanks!!

 

[ReddyCan]

Hi
I have a source of funds request from OOPNP as below:

. Proof of tuition fees paid; or explanation and/or proof of source of funds for tuition

· Source of funds for the second year of studies

· Any further documentation and/or information in support of your application to address the concerns stated.
------------------------------
So, I have paid the first semester fees and having proof of fees receipt - this is simple

but when comes to source of funds, I already shown $16k CAD in canadian bank account which would be suffice for settlement costs as per visa officer and requested for proof of funds for tuition fees.

when I had a telephonic interview with visa officer I told that my parents ( In India and holding Indian bank account) would be supporting me in terms of tuition fees and now my question is - would it be sufficient that I show a bank statement signed and stamped by bank officials having total current balance or anything else too such as 6 months statements/ 6 months average balance statement???

Please help!

 

[anujgupta84]

I have a quick query. I'm currently in the EE POOL and I applied for NSNP last September. I currently have a required amount 12,000 CAD on my old bank since December 2014. Now, I'm planning to open a new one on the bank near my home and transfer some of the amount. Do you think this will be a problem and subject to rejection by CIC provided that I can give a bank statement from old and new bank anytime? Thanks!!

You can show both of these accounts in POF, with the major chunk reflecting in the old bank account.

 

[anujgupta84]

Hi
I have a source of funds request from OOPNP as below:

. Proof of tuition fees paid; or explanation and/or proof of source of funds for tuition

· Source of funds for the second year of studies

· Any further documentation and/or information in support of your application to address the concerns stated.
------------------------------
So, I have paid the first semester fees and having proof of fees receipt - this is simple

but when comes to source of funds, I already shown $16k CAD in canadian bank account which would be suffice for settlement costs as per visa officer and requested for proof of funds for tuition fees.

when I had a telephonic interview with visa officer I told that my parents ( In India and holding Indian bank account) would be supporting me in terms of tuition fees and now my question is - would it be sufficient that I show a bank statement signed and stamped by bank officials having total current balance or anything else too such as 6 months statements/ 6 months average balance statement???

Please help!

How would you prove your parents supported you? This would be proven by Gift deed and Bank statements.

CIC has given you a very subjective sentence as the 3rd point. So, put in everything that adds value to your case.

Gift deed, Bank statements (Parents and yours), LOE, affidavit and Net worth certificates (yours and your family) will cover all the basis if you ask me.

 

[meysam.gh]

Hey guys

somebody might have asked this question before, should the fund be in the applicant account or it can be his or her spouse?! for example if I am applying as the main applicant and my wife is my dependent, if the funds are in my wife account it is ok?!

thanks in advance

 

[anujgupta84]

Hey guys

somebody might have asked this question before, should the fund be in the applicant account or it can be his or her spouse?! for example if I am applying as the main applicant and my wife is my dependent, if the funds are in my wife account it is ok?!

thanks in advance

Yes, it is ok. Why don't you transfer the funds into your account and explain it in LOE? Even without it you will be fine

 

[meysam.gh]

Yes, it is ok. Why don't you transfer the funds into your account and explain it in LOE? Even without it you will be fine

Thanks anujgupta84

If it is ok I will do that. I havn't get a ITA yet but we recently added some point to our application so we are sitting at 460 and I am hoping I would get a ITA in next draw. I am just gathering information so when it is time it goes smoothly. Another thing is we are getting the money from my dad, I am thinking to add a letter with the documents that's it's a gift. Before they ask where us source of fund. Just to be safe.

 

[rajanvnv]

Hey guys

somebody might have asked this question before, should the fund be in the applicant account or it can be his or her spouse?! for example if I am applying as the main applicant and my wife is my dependent, if the funds are in my wife account it is ok?!

thanks in advance

You will anyways have your spouse also on your PR application. The right way of doing this is to add yourself as a joint holder into this account (if possible) and also get a LOE signed from your wife saying that this funds will be utilized towards your family settlement during the initial stay in Canada.

 

[FaizanAli46]

Hello Anujgupta84:

I have prepared following as proof of funds, kindly check and tell me if something is missing:

1- Cross Cheque from my mother to transfer money from her account to mine.
2- Stamped Paper Gift Deed.
3- Stamped Paper Affidavit.
4- Her stamped official bank statement showing transfer of money from her account to mine.
5- My Stamped official bank statement showing money in my account from my mother's account.
6- Signed and Stamped Bank Balance Certificate.
7- Letter of Explanation with explanation of everything like transfer of money and getting money and about gift deed etc.
8- Net worth certificate from one of very famous international chartered accountant firms to show my both parent's net worth (obtained net worth certificates for each parent) as well as mine.


I am waiting for ITA as I have been nominated by Ontario.
kindly will you please share the checklist of documents which I have to produce for CIC, so I can start to prepare my application from now.
Also please tell me that do I have to merge all documents OR make portfolio?

Thanks

 

[ReddyCan]

How would you prove your parents supported you? This would be proven by Gift deed and Bank statements.

CIC has given you a very subjective sentence as the 3rd point. So, put in everything that adds value to your case.

Gift deed, Bank statements (Parents and yours), LOE, affidavit and Net worth certificates (yours and your family) will cover all the basis if you ask me.

Thank you for the answer Anuj...