Canadian Bank Account - Proof of Funds

[nidakh]

Hi,

Me and my husband are in Canada for past 6 months and we soon plan to submit our EE profile. As I'm five years younger to my husband and have an MBA drgree and have CLB 10 in IELTS, we get 472 points if I am the primary applicant as compared to 415 points if we keep my husband as the primary applicant.

The problem is I have no funds to my name and neither does my husband. However he is here on an ICT visa, has a job and bank statement to show funds but I am still looking for a job on an open work permit. I'm a joint account holder for his Canadian Salary account. Is the bank statement ok to be shown as proof of funds?

 

[nidakh]

Thanks dan_and for your response

My dad is ready to gift the money to us but wouldn't it qualify as borrowing money. Is there a way we can prove it is a gift and not temporary?

 

[Stanlee]

Thanks dan_and for your response

My dad is ready to gift the money to us but wouldn't it qualify as borrowing money. Is there a way we can prove it is a gift and not temporary?

You can do it by executing a Gift Deed. You can find a sample template of a Gift Deed here http://www.canadavisa.com/canada-immigration-discussion-board/gift-deed-letter-t384602.0.html

 

[nidakh]

dan_and, Stanlee thanks for your help!

Another question: I researched gift deed and I guee that is the option I will use. However my dad suggested that instead if just keeping cash in my account, he will make an FD in my name? Is that ok?

 

[Canada2425]

dan_and, Stanlee thanks for your help!

Another question: I researched gift deed and I guee that is the option I will use. However my dad suggested that instead if just keeping cash in my account, he will make an FD in my name? Is that ok?

IMO, you should ask him to transfer the sum to your account (gift deed required) and afterwards you can go for FD. That will add up when you get the letter from your bank.

 

[Stanlee]

dan_and, Stanlee thanks for your help!

Another question: I researched gift deed and I guee that is the option I will use. However my dad suggested that instead if just keeping cash in my account, he will make an FD in my name? Is that ok?

Yes, once the money is in your account, you can either create an FD which will give you better returns rather than leaving the funds idle in the savngs account. If you will be creating an FD, in addition to all the fore mentioned documents, you will also need to submit the FD Certificate/ FD Advice/ FD Receipt.

 

[nidakh]

Thanks Canada2425 and Stanlee!

I will do that then....Have him send the money to my account and then make an FD!

In addition I will create a gift deed and get a FD Certificate/Receipt/Advice!