proof of funds for sinp please help Asivad

[roschelle]

Hi,

I have joint account with my father. For sinp I need to show around 12000$ funds.
I want to apply for sinp in January 2016
Will joint account work for sinp?
If my father deposits in joint account by end of december,
Do we need that gift deed and all other letters? Please explain me about these letters because I am unaware.
Second do we need to provide transaction history and all ?
If my bank states as of date this is the amount in her bank without past history is it sufficient?
If I make 2-3 fixed deposit of 12000$ , Will that do?Do I have to present to sinp or any province when that fixed deposit was made?

 

[Asivad Anac]

Joint account can work provided you also submit a self declaration from the other account holder that they have no reservations against you utilizing those funds for POF.

Deposits into the joint account will be a problem. You will have to conclusively prove to CIC that these 12000 CAD belong to you & your father and aren't borrowed from anywhere.

 

[roschelle]

Can you please elaborate on how should I prove that to CIC, 12000 CAD belongs to me and isn't borrowed?
Please help me. I am really unaware about these certificates or letters.

 

[Asivad Anac]

Only you can do this because only you know where the money is coming from. What CIC is keen on knowing is that you have access to 11931 CAD of unborrowed funds. If you aren't borrowing any of this money but moving it from multiple places into one account, you'll have to show sources of funds and prove that it is your money not borrowed. The details would depend on where you're getting the money from.

 

[Lorne Malvo]

Only you can do this because only you know where the money is coming from. What CIC is keen on knowing is that you have access to 11931 CAD of unborrowed funds. If you aren't borrowing any of this money but moving it from multiple places into one account, you'll have to show sources of funds and prove that it is your money not borrowed. The details would depend on where you're getting the money from.

How can one prove funds are not borrowed when funds are lodged in large deposits?

 

[Asivad Anac]

How can one prove funds are not borrowed when funds are lodged in large deposits?

By showing sources of such funds to prove that you owned the funds in the first place.

 

[roschelle]

Only you can do this because only you know where the money is coming from. What CIC is keen on knowing is that you have access to 11931 CAD of unborrowed funds. If you aren't borrowing any of this money but moving it from multiple places into one account, you'll have to show sources of funds and prove that it is your money not borrowed. The details would depend on where you're getting the money from.

Hi Asivad,
Suppose my father transfers 11931 CAD into my account today,
As POF i need to submit bank letter stating my name, account creation date, average balance over six months.
Here six months average and current amount will have a huge difference. So ill submit gift deed stating my father has transferred this amount for POF. Do I need to attach transaction details of transfer? Do I have to attach my fathers account transaction history? What else is required as POF documents?
Please help me with these queries..