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

[yghon11]

Hello,
Is there anyone here who has shown his/her proof from funds from HSBC savings account in India? They have branches in selected cities and I am in my hometown due to COVID. If anyone has got it from HSBC please reply to my post.
Thank you.

 

[KavishR]

Hello Everyone,
I am planning to get my gift deed made. Kindly clarify below queries

1. Is it necessary to have outside of india stamp or just a notary would do?
2. Do we need to get gift deed made on stamp paper. If yes, then of how much value?
3. Is affidavit required along with gift deed?

 

[KavishR]

Hi i saw your Post on This from about Proof Of Fund i have done all the steps just want to confirm that there are 3 of Doc

First :: GIFT DEED
Second :: AFFIDAVIT
Third :: LETTER OF EXPLANATION

Can you tell me which of these will be printed on Notary Paper and which one should be printed on Normal Paper

Did you get an answer on this?

 

[Irenejohn]

@vis.sneha @RPS92

We are expecting to reach sufficient fund for 2 person by next month end week , as by salary savings.
But inorder to skip the wait for 6 months to make balance statements , My husband is planning to transfer our amount to his Father and then receive it as gift deed back to his account.
Husband is the primary applicant and applying under pnp.
Will this plan work out ? sorry if this sound silly.
Does this send / receive transaction of same amount to and from Father's account raise a flag ?
Anyone please reply with valuable suggestions.

 

[canadian-gentleman]

We are expecting to reach sufficient fund for 2 person by next month end week , as by salary savings.
But inorder to skip the wait for 6 months to make balance statements , My husband is planning to transfer our amount to his Father and then receive it as gift deed back to his account.

No need to complicate your POF. If your salary generated the required savings over the past months then just explain that and submit your bank letter plus select bank statements to prove you saved your salary.

You don't need to show that your six months average funds exceed the required settlement funds, you only need to show that you have the full amount when 1) you apply and 2) when you land.

 

[Irenejohn]

No need to complicate your POF. If your salary generated the required savings over the past months then just explain that and submit your bank letter plus select bank statements to prove you saved your salary.

You don't need to show that your six months average funds exceed the required settlement funds, you only need to show that you have the full amount when 1) you apply and 2) when you land.

@canadian-gentleman Thank you
One more question please.
Do we need to clear our pending payments on credit cards ? Do they assess this a debt ?
I read mixed inputs everywhere that credit card statements may /may not be asked to provide.

Regards.

 

[canadian-gentleman]

Do we need to clear our pending payments on credit cards ? Do they assess this a debt ?
I read mixed inputs everywhere that credit card statements may /may not be asked to provide.

Your are welcome, but unfortunately I don't know the answer to your second question.

I would assume that debts due immediately (like credit card payments) would be counted against your available funds, but I haven't
seen any official instructions by IRCC on how debts are taken into account.

 

[Irenejohn]

Your are welcome, but unfortunately I don't know the answer to your second question.

I would assume that debts due immediately (like credit card payments) would be counted against your available funds, but I haven't
seen any official instructions by IRCC on how debts are taken into account.

Thank You

 

[vis.sneha]

@vis.sneha @RPS92

We are expecting to reach sufficient fund for 2 person by next month end week , as by salary savings.
But inorder to skip the wait for 6 months to make balance statements , My husband is planning to transfer our amount to his Father and then receive it as gift deed back to his account.
Husband is the primary applicant and applying under pnp.
Will this plan work out ? sorry if this sound silly.
Does this send / receive transaction of same amount to and from Father's account raise a flag ?
Anyone please reply with valuable suggestions.

If u take my opinion... gift deed from father to son is best option. Ur husband has to show only 1 week statement which will reflect the gift deed transfer and father also 1 week statement which will reflect gift deed transfer.
So, u have the liberty to choose the week when no EMI is cut and will not appear in statement.
If u show in ur salary account without gift deed, that huge amount shud reflect in ur account for 6 months.

 

[vis.sneha]

@vis.sneha @RPS92

We are expecting to reach sufficient fund for 2 person by next month end week , as by salary savings.
But inorder to skip the wait for 6 months to make balance statements , My husband is planning to transfer our amount to his Father and then receive it as gift deed back to his account.
Husband is the primary applicant and applying under pnp.
Will this plan work out ? sorry if this sound silly.
Does this send / receive transaction of same amount to and from Father's account raise a flag ?
Anyone please reply with valuable suggestions.

U can contact me for further details

 

[vis.sneha]

Hello,
Is there anyone here who has shown his/her proof from funds from HSBC savings account in India? They have branches in selected cities and I am in my hometown due to COVID. If anyone has got it from HSBC please reply to my post.
Thank you.

You can show ur POF from any savings account. But u need to provide 6 months statement with that huge amount.
Hence, best method is to get gift deed and immediately opeb a FD. Only 1 week statement need to be provided.

 

[vis.sneha]

Hello Everyone,
I am planning to get my gift deed made. Kindly clarify below queries

1. Is it necessary to have outside of india stamp or just a notary would do?
2. Do we need to get gift deed made on stamp paper. If yes, then of how much value?
3. Is affidavit required along with gift deed?

1. Just notary ( 2 diff stamps will b there). Person doing attestation will know.
2. Yes, on stamp paper. Total value of POF will be best
3. Gift deed will be done in a affidavit as it is a legal document. It shud be attested as well.

 

[vis.sneha]

I(along with spouse and minor child) am planning to apply to come for my one year+ higher studies and I understand my total POF required would be 50K CAD (27K for fees + 17K living expenses for family of 3 + 6K return flight fare) and below is what I can show, kindly let me know how to prepare the POF docs needed for my student visa along with dependent visa for spouse and child:-
1) Self name :-40K CAD as PPF + 25K CAD as PF =40K CAD
2) saved in spouse's name as PPF and FD= 50K CAD
3) in minor child's name(so associated with my bank account) as PPF and other savings= 15K CAD
4) mother's name(I am joint account holder of this savings account) as FD= 30K CAD.

Can u elaborate what is PPF and PF?

 

[Irenejohn]

If u take my opinion... gift deed from father to son is best option. Ur husband has to show only 1 week statement which will reflect the gift deed transfer and father also 1 week statement which will reflect gift deed transfer.
So, u have the liberty to choose the week when no EMI is cut and will not appear in statement.
If u show in ur salary account without gift deed, that huge amount shud reflect in ur account for 6 months.

@vis.sneha

Do they consider the balance payment to my credit card as debt ?
Should we clear the dues before applying for POF letter from the bank ?

Regards

 

[vis.sneha]

@vis.sneha

Do they consider the balance payment to my credit card as debt ?
Should we clear the dues before applying for POF letter from the bank ?

Regards

No need. No need to show Credit card and loans anywhere. Just make sure that EMI and credit card payment is not reflected in statement u take. Select a week where there will b no deductions to get gift deed and make FD