Proof of FUNDS.. Will PARENTs Bank A/c work???

[utsav1706]

Hello Everyone,

I have my IELTS and WES ECA reports ready and have also filled the EE application. My Spouse and I are applying for PR but as of today we don't have the required funds in our bank accounts.

My question is can we show our parent's bank accounts and FDs as proof of funds, that they would be sponsoring us and can have an affidavit made.

Based on your responses only, I would be able to proceed, as I think I would get ITA in next 2-3 draws, and might accumulate close to 50% of required funds on our own in our respective accounts, but that would not suffice.

Thank you for your answers!

 

[scylla]

No - you can't use your parent's bank account. The money must be yours.

Your parents would have to transfer the money to you and then provide statements to confirm this money is a permanent gift.

 

[utsav1706]

No - you can't use your parent's bank account. The money must be yours.

Your parents would have to transfer the money to you and then provide statements to confirm this money is a permanent gift.

Even if they give in writing in an affidavit that they will be sponsoring me with the required funds?

If they give me the gift, so is it necessary that it should be in the account for 6 months old, can it be within the last 3 months from the date of submission of proofs and statements to CIC?

Thanks Scylla for the reply!

 

[DelPiero07]

Even if they give in writing in an affidavit that they will be sponsoring me with the required funds?

If they give me the gift, so is it necessary that it should be in the account for 6 months old, can it be within the last 3 months from the date of submission of proofs and statements to CIC?

Thanks Scylla for the reply!

The funds have to belong to you, so having an affidavit won't help you one bit.

As long as they gift you the funds and you have a gift deed letter as well as proof of transfer you're good to go.

 

[utsav1706]

The funds have to belong to you, so having an affidavit won't help you one bit.

As long as they gift you the funds and you have a gift deed letter as well as proof of transfer you're good to go.

Thanks a lot buddy! Just one more question -

In my case, my spouse is the primary applicant, so the amount to be shown has to be entirely in her name or it could be in my account as well? Also is it like the major chunk has to be in her account or it does not matter?

Suppose I declare CAD 18,000 in my application and when I receive ITA, do I need to show 18k and over 18k or could it be less than 18k also, provided the minimum requirement is 15k.

Thanks for answering all my questions and doubts, really appreciate it!

 

[babamia]

As a follow up to the Opening post, I intend to submit my ITA application next week. My mum will be doing a gift deed to cover 90% of my required fund? Must the money from her account have been domiciled in her account for the last 6 months ?

 

[LokiJr01]

I don't think CIC will go through the process of screening even your parent's account for the POF requirement, so the affidavit of gift deed should suffice.

 

[grapehair]

I don't think CIC will go through the process of screening even your parent's account for the POF requirement, so the affidavit of gift deed should suffice.

I believe you're right. For God's sake, I'm actually selling my desktop to put funds in my bank account. It's around $2000 U.S. dollars, arodund $2500 CAD. I'm making sure to get all the receipts, bill of sale etc. As a proof for increase in the funds. So yes, more relevant the documentation, the stronger the case

 

[PurpleTuzi]

Thanks a lot buddy! Just one more question -

In my case, my spouse is the primary applicant, so the amount to be shown has to be entirely in her name or it could be in my account as well? Also is it like the major chunk has to be in her account or it does not matter?

Suppose I declare CAD 18,000 in my application and when I receive ITA, do I need to show 18k and over 18k or could it be less than 18k also, provided the minimum requirement is 15k.

Thanks for answering all my questions and doubts, really appreciate it!

You can change this figure post ITA, but you must have the minimum require for your application.