Proof of Funds

[zshamim]

Hi All,
Currently i am in process of submitting my profile to CIC.
I presume i will need proof of fund only after 6-9 months if all goes well.
However I have desired fund in by bank account , but i cannot hold it for longer as higher income tax will be applicable to me.
Can i keep this fund in my wife account and will their be any implication while showing proof of fund through my wife account?

Note : I am the main applicant and my wife is co-applicant.

Thanks in advance

 

[Virab555]

As far as I know, the funds should be on your account. The wife's account does not count

 

[Stanlee]

Hi All,
Currently i am in process of submitting my profile to CIC.
I presume i will need proof of fund only after 6-9 months if all goes well.
However I have desired fund in by bank account , but i cannot hold it for longer as higher income tax will be applicable to me.
Can i keep this fund in my wife account and will their be any implication while showing proof of fund through my wife account?

Note : I am the main applicant and my wife is co-applicant.

Thanks in advance

It is always preferable to have it in your own name as you are the primary applicant. If it is for tax purposes, you can keep some money in your account and the rest in your wife's. In that case you will have to get an affidavit/self declaration from your wife stating that the funds so kept in her account shall be used for your migration purposes (together as a family) and she has no objection in you using the same. You will also have to get letter from bank stating the type(s) of account, date of account opening, account balance, currency in which the funds is maintained. The letter will be in addition to 6 months' bank statement for both the accounts.