I am planning to enter the pool in April/May. However before this month I barely have any saving on my account although I have a net income around 3000CAD. The parents of my wife just deposited 20,000CAD in my account as a gift to sponsor our immigration process. As CIC requires to show past 6 month transaction upon application, I am wondering if they will see a large deposit from my wife's parents suspicious, otherwise I will need to wait until September, I mean literally 6 months after?
Proof of funds qeustion
- Thread starter shoxdid
- Start date
No you do not have to wait for 6 months to enter the pool if you already have the funds. Now with regard to the funds that have been deposited into your account by your in-laws, you can get a Gift Deed executed which states that the amount has been gifted to you and and your wife for immigration purposes and you do not have to pay it back to them. Basically what the case officer would try to assess is that you have not taken any loan or borrowed any money to show as proof of funds. As long as it is a gift, you can submit your profile. All the best!shoxdid said:
You can prepare a simple Gift Deed and mention the relationship in it. For proof of relationship, you can submit the following provided it covers the following details.shoxdid said:
1. Your marriage certificate copy (which would have both your's and spouse's parents' names)
2. Passport copy of both you and your spouse (which may also have parents' names)
Please ensure that the name of the account holder (from which you received the funds) is same as mentioned in the above documents.
I have a very similar situation myself-money was given to me by my father, but I got them in cash and put them on a newly opened account. As a proof of funds I submitted a letter from my father confirming the act of gift. As an additional proof of my father's willingness to support me, I also added a copy of flat gift deed from my father 5 years before, proving that he has already made expensive presents like this. At the time of submitting my application, money was only 1 month on the account. I hope it will be enough.
hello guys,
i am also facing same situation. everything is ready from my end but my funds are not old enough. so can i submit my profile to any PNP ?? will CIC accept my current dated funds ??
my bro in law lives in USA and he is willing to help me. how he can send me gift deed ?? if anyone has such gift deed, so i request them to show it here just for an idea about it and it'll be also helpful what kind of matter should be described in it...
thanks & regards
i am also facing same situation. everything is ready from my end but my funds are not old enough. so can i submit my profile to any PNP ?? will CIC accept my current dated funds ??
my bro in law lives in USA and he is willing to help me. how he can send me gift deed ?? if anyone has such gift deed, so i request them to show it here just for an idea about it and it'll be also helpful what kind of matter should be described in it...
thanks & regards
So no need to put the money into a fixed deposit or 6-month saving account? The parent of my wife also transfered us another 30000CAD for our own business at the same time, but this amount will be out of my account soon which will be invested in our own company. Is this a problem for visa officer if he sees large transaction happened recently thought the 20000CAD for immigration will be there untouched?Stanlee said:
Thanks a lot!
It would be good to keep aside the money for migration, it is up to you, how you want to maintain it, FDs give better returns, the decision is yours. Regarding the CAD 30000 that was deposited in your account for business, you should be able to explain it with supporting documents, if requested by your case officer.shoxdid said:
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- Aug 24, 2015
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It would be great if anyone has a gift deed format.. Looks like a lot of fathers are supporting their sons , as in my case for Canada immigration.. 
A forum member shared
My case was as common to most of us ie, Not enough money in the account few days back to application submission and then a sudden transfer of funds in the bank account and that account is shown as 'Proof of funds'. As you can see I got a 'Source of funds' request on August 20, 2015. I submitted following documents for the same:
1) An e-stamped affidavit (Article 4 Affidavit) citing my Father as Deponent about that big transaction via Cheque XXX dated XXX drawn on Bank XXX. Letter had my father's signature. This costed me Rs. 10.
2) An e-stamped Gift deed (Article 33 Gift) showing my father as Donor, me as a Donee. Also stating that these funds were out of his past savings, mentioning his PAN number and that he doesn't expect the money in return. Letter had me and my father's signature. This costed me Rs. 100.
3) Net-worth certificates of me, my father and my mother as on August 22, 2015, for the reason that my family hasn't exhausted all their savings to support me and that they can survive easily. This Net-worth certificate should be issued by a reputed Chartered Accountant on his letter-head. This costed me Rs. 500. CAs might demand more, but don't pay them more, choose another CA.
4) My Bank statement till August 22, 2015 showing the funds being untouched and only a large number of credits happening with very few debits.
5) I detailed LOE with all the transactions and explanation.
That means a maximum cost of Rs. 1000. You don't need to pay hefty amount and take the help of any consultancy for solving 'Source of funds' puzzle. Just include everything specific beforehand at the time of Application submission, so that they don't ask for Additional documents later (as they did in my case).
In a nut-shell here are what I suggest you submit at the time of AOR, to answer the questions of a sudden large transaction:
1) Gift Deed (Article 33 Gift)
2) An Affidavit (Article 4 Affidavit)
3) Net-worth certificates of your whole family from CA
4) Bank Statements showing all the transactions involved (Yes, include your father's bank account statement as well)
Note: No Notarization is necessary, since, you would be scanning and uploading original documents. Don't spend money on the lawyers roaming around in district courts for this.
My case was as common to most of us ie, Not enough money in the account few days back to application submission and then a sudden transfer of funds in the bank account and that account is shown as 'Proof of funds'. As you can see I got a 'Source of funds' request on August 20, 2015. I submitted following documents for the same:
1) An e-stamped affidavit (Article 4 Affidavit) citing my Father as Deponent about that big transaction via Cheque XXX dated XXX drawn on Bank XXX. Letter had my father's signature. This costed me Rs. 10.
2) An e-stamped Gift deed (Article 33 Gift) showing my father as Donor, me as a Donee. Also stating that these funds were out of his past savings, mentioning his PAN number and that he doesn't expect the money in return. Letter had me and my father's signature. This costed me Rs. 100.
3) Net-worth certificates of me, my father and my mother as on August 22, 2015, for the reason that my family hasn't exhausted all their savings to support me and that they can survive easily. This Net-worth certificate should be issued by a reputed Chartered Accountant on his letter-head. This costed me Rs. 500. CAs might demand more, but don't pay them more, choose another CA.
4) My Bank statement till August 22, 2015 showing the funds being untouched and only a large number of credits happening with very few debits.
5) I detailed LOE with all the transactions and explanation.
That means a maximum cost of Rs. 1000. You don't need to pay hefty amount and take the help of any consultancy for solving 'Source of funds' puzzle. Just include everything specific beforehand at the time of Application submission, so that they don't ask for Additional documents later (as they did in my case).
In a nut-shell here are what I suggest you submit at the time of AOR, to answer the questions of a sudden large transaction:
1) Gift Deed (Article 33 Gift)
2) An Affidavit (Article 4 Affidavit)
3) Net-worth certificates of your whole family from CA
4) Bank Statements showing all the transactions involved (Yes, include your father's bank account statement as well)
Note: No Notarization is necessary, since, you would be scanning and uploading original documents. Don't spend money on the lawyers roaming around in district courts for this.
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Star Member
- Aug 24, 2015
- 2
- Job Offer........
- Pre-Assessed..
- AOR Received.
- 06-04-2016
- Passport Req..
- 26-10-2016
- LANDED..........
- 03-02-2017
At what point in the process do they ask for proof of funds?
I have an ITA and still putting the funds together so want to leave it as long as I can before printing out the bank statements.
Many thanks
I have an ITA and still putting the funds together so want to leave it as long as I can before printing out the bank statements.
Many thanks
First of all, what should we include for settlements funds? i.e. Bank certificates or 6 months bank statements? Does SBI/Yes bank provides these kind of certificates?
Then, there are multiple suggestions on whether we can use spouse bank statements along with primary applicant or not. Me and my spouse have 50:50 ratio of funds in our individual accounts. Some have suggested that we can use whereas some have suggested not to use as only primary applicant POF are accepted. Just wanted to know if any one has used spouse statements and those worked?
Secondly, Pls suggest for joint account statements, is it Ok to have spouse as Primary account holder and me as secondary account holder? Will it make any difference to IRCC?
I also wanted to know whether can I add myself as Joint account holder to my spouse account which is with her before marriage. This means last name would be different for both of us. More, Address would show as her address before marriage. Would that be OK? I believe, last name and address difference can be proved through marriage certificate. Pls suggest.
On extension to above point, would that be OK if we transfer all of her money to new joint account? Do we need any affidavit/LOE to prove that amount has been transferred from old account to new joint one? Should we enclose statements from both the accounts in this case?
Last point I wanted to clarify is, whether EPF and PPF would be considered as POF? In some of the threads I have read it would be accepted in case of Delhi VO. Is anyone used and it got accepted?
Appreciate expert advise...
Then, there are multiple suggestions on whether we can use spouse bank statements along with primary applicant or not. Me and my spouse have 50:50 ratio of funds in our individual accounts. Some have suggested that we can use whereas some have suggested not to use as only primary applicant POF are accepted. Just wanted to know if any one has used spouse statements and those worked?
Secondly, Pls suggest for joint account statements, is it Ok to have spouse as Primary account holder and me as secondary account holder? Will it make any difference to IRCC?
I also wanted to know whether can I add myself as Joint account holder to my spouse account which is with her before marriage. This means last name would be different for both of us. More, Address would show as her address before marriage. Would that be OK? I believe, last name and address difference can be proved through marriage certificate. Pls suggest.
On extension to above point, would that be OK if we transfer all of her money to new joint account? Do we need any affidavit/LOE to prove that amount has been transferred from old account to new joint one? Should we enclose statements from both the accounts in this case?
Last point I wanted to clarify is, whether EPF and PPF would be considered as POF? In some of the threads I have read it would be accepted in case of Delhi VO. Is anyone used and it got accepted?
Appreciate expert advise...