Can the proof of funds be a combination of both gift deed and bank balance. In my friend's case the bank balance is not sufficient to cross the minimum amount required for the Canadian Immigration. So, to cross the minimum requirement he is planning to make a gift deed. Both gift deed and the bank balance would still be less than the minimum requirement but their sum would be greater. Will this method to proof funds be acceptable?
Proof of Funds: Format of Gift Deed, Affidavit and LOE
- Thread starter hsinxh
- Start date
Hello Guys, I need some advice. My brother in the UK is willing to issue the capital as a gift for my Canadian application and at the moment, he has already made the transfer to my UK account and we are in the process of drafting the deed of gift.
I have a few question:
1. Since he is a UK resident and i am in Nigeria but the money is in my UK account, will there be a problem with this?
2. We are also not able to provide an affidavit since I can not physically be in the UK to obtain one. Will the deed of gift be sufficient?
I have a few question:
1. Since he is a UK resident and i am in Nigeria but the money is in my UK account, will there be a problem with this?
2. We are also not able to provide an affidavit since I can not physically be in the UK to obtain one. Will the deed of gift be sufficient?
Ideally your presence for getting gift deed is not required as it is only the donor that needs to get an affidavit or gift deed to prove that it indeed was a gift. as a receiver you are only required to show proof of receipt for the money. but what better proof than your bank letter stating your account has been credited with those funds ? So your donor should get the gift deed and you should be fine.
Thanks viki1805 for your reply,
I was just worried that since I am not resident in the UK anymore, using my UK account as a proof of funds won't be a problem?
Also the gift deed is drafted and signed by both of us and 2 witnesses. We are not involving any solicitor. Will that be OK?
Thanks in advance.
I was just worried that since I am not resident in the UK anymore, using my UK account as a proof of funds won't be a problem?
Also the gift deed is drafted and signed by both of us and 2 witnesses. We are not involving any solicitor. Will that be OK?
Thanks in advance.
Respected Members,
I have a query regarding the dimensions of gift deed for proof of fund. In my case , I couldn't maintain an average balance in my account during the last 6 months. Since I do all the spending from my Salary account including a big chunk of my deposits utilized for prepayment of home loan , my wife transferred fixed amounts to my account to compensate for the expenses in last six months. More transactions were done in last 10 days,obviously to support my PR application. All the transactions were above 100 thousand Indian rupees. My wife has not applied with me as she plans to join later. Now my question is , do I need to declare all these transactions as gift deeds, compiled together in one affidavit ?
I have my salary slips to support that I could afford the declared amount but since I don't have a study balance and many credits from my Wife's account , I wanted to know the way out.
Thanks in advance!
I have a query regarding the dimensions of gift deed for proof of fund. In my case , I couldn't maintain an average balance in my account during the last 6 months. Since I do all the spending from my Salary account including a big chunk of my deposits utilized for prepayment of home loan , my wife transferred fixed amounts to my account to compensate for the expenses in last six months. More transactions were done in last 10 days,obviously to support my PR application. All the transactions were above 100 thousand Indian rupees. My wife has not applied with me as she plans to join later. Now my question is , do I need to declare all these transactions as gift deeds, compiled together in one affidavit ?
I have my salary slips to support that I could afford the declared amount but since I don't have a study balance and many credits from my Wife's account , I wanted to know the way out.
Thanks in advance!
Hello...am in a dimilar situation....bank doesnot issue statement...so can i give the online statement of last 6 months...was yours accepted???
I dont think you even need a gift deed. just a self declaration from your wife would suffice along with a proof of marriage.
as long as you're able to provide proof of available funds for this purpose and justify the source, the average balance does not matter.
Sure getting a gift deed might seem as and is a safer option, self declarations from donor along with proofs of transaction has been accepted for many applicants apparently.
https://www.canadavisa.com/canada-immigration-discussion-board/threads/gift-deed-notarized.524279/page-2#post-7143688
Witness:
The gift as stated above is accepted
(Your Name)
Who is the witness above? The one accepting the gift (receiver) or a third person? Because it looks like the one accepting the gift is the witness also. Please someone clear this doubt as in my case my wife (who is receiver) has signed here and I’m not sure if it is correct.
[/QUOTE]
The gift as stated above is accepted
(Your Name)
Who is the witness above? The one accepting the gift (receiver) or a third person? Because it looks like the one accepting the gift is the witness also. Please someone clear this doubt as in my case my wife (who is receiver) has signed here and I’m not sure if it is correct.
[/QUOTE]
Respected Members,
I have a query about pending home loan and secondary bank account.
First - I have a pending home loan of around 400 thousand Indian Rupees. I have already paid back the major chunk. A monthly EMI is deducted from my primary account and so it appears in my bank statement. I have to mention it in my application so my question is whether a pending home loan impacts decision on POF and hence PR application ? Anyone from their personal experience ?
Second , I have a secondary account , which always had a minimum balance o in it during last 6 months. Do I need to include a letter from this bank along with bank statement ?
Regards,
Gaurav
I have a query about pending home loan and secondary bank account.
First - I have a pending home loan of around 400 thousand Indian Rupees. I have already paid back the major chunk. A monthly EMI is deducted from my primary account and so it appears in my bank statement. I have to mention it in my application so my question is whether a pending home loan impacts decision on POF and hence PR application ? Anyone from their personal experience ?
Second , I have a secondary account , which always had a minimum balance o in it during last 6 months. Do I need to include a letter from this bank along with bank statement ?
Regards,
Gaurav
Hi!
I have queries regarding Gift Deed.
1. My mother will give me settlement funds once I receive the ITA. Is it in better position to have the POF after ITA or should I have it prior lodging my EE profile?
2. I understand that she has to provide gift deed but question is, should she include her bank statements as well or any other financial documents?
3. I have approx. CAD $7500 in my personal account. Should I also include bank statements or just bank certificate with average 6 mos. balance & current balance?
Hope to shed some lights to these questions.
Thank you.
I have queries regarding Gift Deed.
1. My mother will give me settlement funds once I receive the ITA. Is it in better position to have the POF after ITA or should I have it prior lodging my EE profile?
2. I understand that she has to provide gift deed but question is, should she include her bank statements as well or any other financial documents?
3. I have approx. CAD $7500 in my personal account. Should I also include bank statements or just bank certificate with average 6 mos. balance & current balance?
Hope to shed some lights to these questions.
Thank you.