Proof of Funds: Format of Gift Deed, Affidavit and LOE

[themaverick]

Can my in-laws give me a gift deed?
I know it's a cheeky situation, but still. This would be the contribution of my wife.

Also, should my personal presence be mandatory to sign the gift deed?

Informed people are requested to please help.

 

[gta88]

GIFT DEED

I, Your Father Name, S/o Your Grandfather Name , R/o ADDRESS, do hereby on dated 00/10/2016 make a gift-deed for a gift made on dated of 00/10/2016, Rs. 000000/-

(Rupees Only) out of love and affection to my Son (Your Name), S/o Father Name, ADDRESS. I confirm that I am a resident of India. I, further confirm that this gift is

being made out of my own funds standing to the credit of my A/c No.- 000000000 in ABC Bank, Bank Address. I, further confirm that the consideration for this gift is

the love and affection for my Son (Your Name) and no other consideration.
I further confirm that the gift has been made by Cheque No. 000000 dated 00/10/2016 drawn on ABC Bank, BANK ADDRESS. This gift is irrevocable and I have no claim left

whatsoever on the said gifted amount and he is free to utilise it in any manner.

PLACE:

DATED:
(Your Father Name)


Witness:
The gift as stated above is accepted




(Your Name)

AFFIDAVIT

I, Your Father Name S/o Your Grandfather Name R/o ADDRESS, do hereby state as under:
That I have gifted a sum INR Rs. 000000 (Rupees Only) through Cheque No. 00000 dated 00-10-2016 drawn on ABC Bank, BANK ADDRESS to my son Your Name R/o ADDRESS.
That I am an Income Tax assessee having PAN No. XXXXXXXX and this gift is being made from my own past savings.
That this gift is irrevocable and I have no claim left whatsoever on the said gifted amount and he is free to utilize it in any manner.

(DEPONENT)

VERIFICATION
I, Your Father Name S/o Your Grandfather Name do hereby verify and confirm that contents of above deposition are true and correct and nothing material has been

concealed therefrom.

(DEPONENT)
PLACE: -
DATE: -


LETTER OF EXPLANATION

To,

Citizenship and Immigration Canada

Subject: Funds Proof- Source of Funds

Application No. 0000000000

Dear Sir/Madam,

This is with regards the source of funds in my account. Please be informed that I hold savings account in following Indian Bank:

Bank Name Branch Account Number IFSC Code MICR Code
XYZ Bank bank address 00000000000000 000000000000 00000000

I received INR 00000 (Lac Only) as a result of my Father’s volition and a mark of his natural love and affection towards me. This deed is reflecting in transaction

dated 00/10/2016 via Cheque No. 00000 dated 000/10/2016 in my XYZ Bank account statement enclosed with this letter. I have also enclosed a Gift Deed letter, an

affidavit and a scanned copy of Cheque No. 00000 (drawn on ABC Bank, Account No. 0000000) signed by my father for your reference. If you have any further

clarifications, please call me on: +91-000000000 or email me at: 000000@00000



Thanks and Regards,

can someone please please clear this doubt?
This last part -
I further confirm that the gift has been made by Cheque No. 000000 dated 00/10/2016 drawn on ABC Bank, BANK ADDRESS. This gift is irrevocable and I have no claim left.

drawn on ABC bank??? so will this be the bank of your Dad or you the recipient? I am frustrated with this term 'drawn on' as itsi repeated multiple times. any help will really be appreciated. thank you in advance.

 

[quicksand]

No, my bank refused issuing any letters whatsoever. I put 6 months statements instead. Also, when i read the requirements cic wants in the letter, they clearly state that it should include any outstanding loans/credit cards debts. So even though many members here say you dont need to include that, but since i was already in a weak position by not having a bank letter, i wrote them a LOE and in it i disclosed my old credit card debt and included statements from my online banking showing payments and remaining balance to be paid. I figured best way is just to be honest and show them what they want to see. In my case even if they deduct the remaning balance from the amount i have in my account, i will still have enough above the minimum required funds.
Conclusion is, every case is different. You should just make sure to show them there is nothing fishy and that you are honest.

Hi dr feras ,

I am in a quite similar situation as you, except that I have two loan that are secured, i.e I have given assets as guarantee. I want to write a LOE to explain all that, but I am struggling to find a proper format, that will be clear and unambiguous for CIC to understand my situation. Would you mind sharing your LOE? Thanks in advance.

 

[srirams91]

Guys, getting funds from brother in law and showing gift deed + affidavit is acceptable for PoF?

 

[Ambrose4045]

Hello guys , I have an issue . I got the entire money as gift from my dad through cheque. And I prepared gift deed document and loe. But I failed to take a scanned copy of the cheque. I only have the bank deposit slip of the entire amount of my bank that was deposited by me with only the cheque no of my dad but it does not have my dad signature anywhere because I only deposited using my dad cheque .Can this be used as proof.

 

[tushar2485]

Hi Friends, can I show my savings in post office (India) as proof of funds? Is is a joint account of myself and my mother. Please pour in your thoughts.

 

[Ambrose4045]

Guys, getting funds from brother in law and showing gift deed + affidavit is acceptable for PoF?

Yes u can . Try to get it through cheque. It will make ur case stronger and do not forget loe.

 

[Ambrose4045]

Can my in-laws give me a gift deed?
I know it's a cheeky situation, but still. This would be the contribution of my wife.

Also, should my personal presence be mandatory to sign the gift deed?

Informed people are requested to please help.

Yes u can . U do not need to be available. If the donor is available then it is enough. But at the end of the day it is all upto the notary whom u r gonna notarize. Go to the notary who accepts.

 

[primeo5]

Greetings fellow members,

I am stuck in a situation regarding proof of funds and would like to seek your guidance. Please allow me to explain you properly.

I am currently residing in Melbourne, Australia. On 2nd October 2018, my Australian visa was due to expire so I had to make necessary arrangements to apply for another visa which is now valid until December 2020.

To get that new visa, one of the mandatory requirements was to show and hold funds for 3-4 months until a decision is made. I was out of funds and it was a large sum of around AUD $29,000 so I requested my father to telegraphic transfer the required amount into my bank account. It was all sorted and by Mid-December 2018, visa was finally granted.

Now, after two weeks of visa grant, I withdrew all the amount from my bank account and remit it back to my father's bank account in Kuwait because he required it for a business purpose.

Simultaneously, at that point of time, I was applying for Express Entry and I lodged my application on 31st December 2018. Unexpectedly, I received ITA on 10th January 2019. If I had any idea, I was to avoid withdrawing it and hold it for longer. Well, what's done is done.

The situation currently stands that my Australian bank cannot provide 6 months average balance on its official letter so I have to provide 6 months bank statement. It is obvious that this large influx of incoming and outgoing amounts will be listed in 6 months statement. It will also list down visa fees and other payments made for the new visa.

What should I do about these transactions?

Should I provide a bank statement from 10th January onwards (less than 2 months)? (It will not list these transactions then)

Should I get a new deed from my father declaring these amounts and transactions too and that he can declare that I am free to utlise it any manner? (Which I have and it has nothing to do with Canadian PR)

I am stuck in a loop. Please help me out.

Your kind support is greatly appreciated.

 

[Ambrose4045]

Greetings fellow members,

I am stuck in a situation regarding proof of funds and would like to seek your guidance. Please allow me to explain you properly.

I am currently residing in Melbourne, Australia. On 2nd October 2018, my Australian visa was due to expire so I had to make necessary arrangements to apply for another visa which is now valid until December 2020.

To get that new visa, one of the mandatory requirements was to show and hold funds for 3-4 months until a decision is made. I was out of funds and it was a large sum of around AUD $29,000 so I requested my father to telegraphic transfer the required amount into my bank account. It was all sorted and by Mid-December 2018, visa was finally granted.

Now, after two weeks of visa grant, I withdrew all the amount from my bank account and remit it back to my father's bank account in Kuwait because he required it for a business purpose.

Simultaneously, at that point of time, I was applying for Express Entry and I lodged my application on 31st December 2018. Unexpectedly, I received ITA on 10th January 2019. If I had any idea, I was to avoid withdrawing it and hold it for longer. Well, what's done is done.

The situation currently stands that my Australian bank cannot provide 6 months average balance on its official letter so I have to provide 6 months bank statement. It is obvious that this large influx of incoming and outgoing amounts will be listed in 6 months statement. It will also list down visa fees and other payments made for the new visa.

What should I do about these transactions?

Should I provide a bank statement from 10th January onwards (less than 2 months)? (It will not list these transactions then)

Should I get a new deed from my father declaring these amounts and transactions too and that he can declare that I am free to utlise it any manner? (Which I have and it has nothing to do with Canadian PR)

I am stuck in a loop. Please help me out.

Your kind support is greatly appreciated.

I believe that it is not an issue . Get the amount back from your father through cheque and get an gift deed and explain in loe that it is an gift deed. Get an letter from ur bank after money got deposited with only the current balance equivalent to Canadian dollars and provide bank statements for 6 months as an alternative for average bank balance. Bank transactions does not really matter as long u have got an valid Australian pcc and victorian driving history report from Vic Roads along with gift deed and loe.

 

[Audarya]

Hi,
I have a doubt. I have the required amount of settlement funds in my name but also hold a joint loan account with my dad, and i have been regularly paying its monthly instalment since last 3 years through the account where i am currently holding settlement funds. The loan is currently outstanding at 80% of settlement funds amount. So in a way my settlement funds are not unencumbered.
Do you think if i submit an undertaking from my dad that he will henceforth be responsible for repaying the loan amount since he is a co-borrower, it will be alright?

 

[srirams91]

I have two doubts (for one dependent):

1. To be on the safer side, by how much should my funds exceed the minimum requirements? Is $1200 a safe bet?
2. I'm showing EPF balance (CAD 6500) and savings account (CAD 10,700 through gift deed). Is that ok?

Regards,
Sriram

 

[srirams91]

I have two doubts (for one dependent):

1. To be on the safer side, by how much should my funds exceed the minimum requirements? Is $1200 a safe bet?
2. I'm showing EPF balance (CAD 6500) and savings account (CAD 10,700 through gift deed). Is that ok?

Regards,
Sriram

bump

 

[Sir_ILikeFood]

Hey guys, I have a couple of doubts about PoF. I'm going to receive a gift deed from my uncle who is already a canadian citizen. What are the documents my uncle might have to provide and how old/new should the gift deed be? Do I have to get it 6 months in advance?

 

[imsaba]

Can you tell me if gift deed needs to be from your parents or can be from brother-in-law ? Also what to do if funds were transferred instead of cheque? Also he is not in country so how do i get affidavit and gift deed ? In fact he is in Canada