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Proof Of Funds- Blood relation or any relative?

haris_rasheed

Hero Member
Jul 13, 2018
206
70
Hi All, Need your feedback on below mentioned issue.

I am the principal applicant, my wife is accompanying me to Canada, we both have our different accounts. My Father in Law i.e. my wife's father is willing to give us the required amount as gift in my bank account. So can i borrow this money from my father in law or i can get the money from blodd relations only?
 

nri7777

Hero Member
Nov 2, 2019
245
75
Category........
FSW
Hi All, Need your feedback on below mentioned issue.

I am the principal applicant, my wife is accompanying me to Canada, we both have our different accounts. My Father in Law i.e. my wife's father is willing to give us the required amount as gift in my bank account. So can i borrow this money from my father in law or i can get the money from blodd relations only?
yes you can but it would be better if he transfers it to her daughter and you both can use it by submitting a gift deed and consent letter
 

haris_rasheed

Hero Member
Jul 13, 2018
206
70
yes you can but it would be better if he transfers it to her daughter and you both can use it by submitting a gift deed and consent letter
How about if my father in law transfers the amount in my wife's account and then my wife transfers it to my account? and i will submit a gift deed of my wife?
 

nri7777

Hero Member
Nov 2, 2019
245
75
Category........
FSW
How about if my father in law transfers the amount in my wife's account and then my wife transfers it to my account? and i will submit a gift deed of my wife?
in this case your wife would need a gift deed from her father and you and your wife would need a consent letter that the money can be used by you both
 

dotslash227

Champion Member
Apr 28, 2019
1,828
348
How about if my father in law transfers the amount in my wife's account and then my wife transfers it to my account? and i will submit a gift deed of my wife?
You can accept gift from your in-laws. It is legal and accepted in most jurisdictions to receive gifts from in-laws.

If your FIL transfers you the money, a gift deed signed by him would be needed.
If your FIL transfers the money to his daughter (your wife), a gift deed would need to be signed by him for his daughter and a consent letter would be needed from your wife to you.

Option 1 has less paperwork involved.
 
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haris_rasheed

Hero Member
Jul 13, 2018
206
70
You can accept gift from your in-laws. It is legal and accepted in most jurisdictions to receive gifts from in-laws.

If your FIL transfers you the money, a gift deed signed by him would be needed.
If your FIL transfers the money to his daughter (your wife), a gift deed would need to be signed by him for his daughter and a consent letter would be needed from your wife to you.

Option 1 has less paperwork involved.
yes got it Thanks :)
 

haris_rasheed

Hero Member
Jul 13, 2018
206
70
Guys i have a question regarding proof of funds.

CIC says that the funds should be in your account at the time when you submit the profile and at the time when we give you the PR visa. Does this mean that once we submit the EAPR then we can use that money somewhere else or do we have to keep that money in the bank untill we get the PPR? lets say if they take 7-8 months for PPR, do we have to keep that money in the bank for 7-8 months?
 

jackdawn

Champion Member
Dec 24, 2016
1,228
913
Hi All, Need your feedback on below mentioned issue.

I am the principal applicant, my wife is accompanying me to Canada, we both have our different accounts. My Father in Law i.e. my wife's father is willing to give us the required amount as gift in my bank account. So can i borrow this money from my father in law or i can get the money from blodd relations only?
proof of fund in the name of your wife is as good as in your name. Make a letter which states that your wife is a part of this pr application and she has no objection using these funds as pof
 

jackdawn

Champion Member
Dec 24, 2016
1,228
913
Guys i have a question regarding proof of funds.

CIC says that the funds should be in your account at the time when you submit the profile and at the time when we give you the PR visa. Does this mean that once we submit the EAPR then we can use that money somewhere else or do we have to keep that money in the bank untill we get the PPR? lets say if they take 7-8 months for PPR, do we have to keep that money in the bank for 7-8 months?
You dont have to keep it in your account, you can use it and fund it again. But make sure when you arrive in canada you have sufficient proof to show that the funds are there, which means take a latest statement before you arrive
 

haris_rasheed

Hero Member
Jul 13, 2018
206
70
You dont have to keep it in your account, you can use it and fund it again. But make sure when you arrive in canada you have sufficient proof to show that the funds are there, which means take a latest statement before you arrive
thanks got it, that means while i am waiting for PPR, can use them for investment somewhere else and when i am moving to Canada i will again deposit them in my account?