Proof of funds

[emmann]

Hello,
Proof of funds, my father gave me money to add to my account so its gift of deed how to prove that as we don't have such document in my country. I scanned the cheque and the paper that bank gave me when I submitted the cheque so how can I prove that is there some form ??

 

[can_indian]

Hello,
Proof of funds, my father gave me money to add to my account so its gift of deed how to prove that as we don't have such document in my country. I scanned the cheque and the paper that bank gave me when I submitted the cheque so how can I prove that is there some form ??

You have to provide bank statements from your account and your father's account, showing the transfer.
You also need a paper (notarized) which states that your father indeed has gifted you that amount of money.

 

[bskap]

Will gift from brother work? Can I gift money to my elder brother?

 

[Maverick28]

Will gift from brother work? Can I gift money to my elder brother?

Yes.

 

[emmann]

You have to provide bank statements from your account and your father's account, showing the transfer.
You also need a paper (notarized) which states that your father indeed has gifted you that amount of money.

Thank you
The paper I write or who?

 

[can_indian]

Thank you
The paper I write or who?

For the Format of the gift deed in India, check the below link.

https://www.google.co.in/url?q=http://202.138.101.165/karigr/modeldeeds/giftdeed.pdf&sa=U&ved=0ahUKEwiP14yk5bjTAhXJq48KHVIxBh8QFggVMAI&usg=AFQjCNGK1Q9pnFWMyOc0zYDf7A87bBwcxA

 

[Canadianspirit]

Hi guys how about if I am a primary applicant and the funds are in my husbands name who is included in my application. Any advise for express entry proof of funds?

 

[kukreja.vijayk]

Hi,

I have a different situation. Can you guide me on that.

I remitted cash to my dad from Saudi to Pakistan and took loan in Saudi for that.

Should I get the gift deed or any other deed. My dad has maintained similar level of balance in his account over the period. Please suggest

 

[can_indian]

Hi,

I have a different situation. Can you guide me on that.

I remitted cash to my dad from Saudi to Pakistan and took loan in Saudi for that.

Should I get the gift deed or any other deed. My dad has maintained similar level of balance in his account over the period. Please suggest

Since it's a loan, you can make a payment and close loan account. It will disappear from your bank statement.

Please provide a bit more information about how are you going show proof of fund, for further suggestions.

 

[kukreja.vijayk]

Since it's a loan, you can make a payment and close loan account. It will disappear from your bank statement.

Please provide a bit more information about how are you going show proof of fund, for further suggestions.

I have taken personal loan from Saudi Arabia and remitted to Pakistan to co-invest in my father business and I don't maintain any bank balance as I mostly remit my funds to Pakistan very quickly and keep on co-investing with my father. None of these investments are under my name in any means. Those all are in the name of my father. Since the CIC requires the no liability and bank balance certificate including current balance and average last 6 months balance. How I should handle this problem. There is no problem to transfer the money from my father bank account to my bank account in Pakistan any day, may be today as well. I need special support on this from you champs. So would that suffice to transfer the amount now and show the current bank balance, however, the average balance for the last six months wouldn't show much of balance? Should I consult with the expert consultants or lawyers for immigration and get their professional advice? Please note that I do have a money trial, i.e. I remitted the funds from Saudi Arabia to Pakistan in my father account and he has been maintained good sum of balance in that account. Should I take the risk and write the proper LOE to explain this situation? What are the options. I'm just brain storming to reach to the best solution.

 

[can_indian]

You will not have any problems if your father gifts you the amount needed. You pay up your loan in Saudi and have enough fund to show.

You do not need any expert consultant or lawyer. But you have to be very careful when you submit scanned documents online. people have been refused for not uploading proper documents. If you have any question, check out posts on this forum before submitting and filling out forms. If you don't find answers, post your questions on this forum. You know your situation better than any one ever could. You will have enough time to do it yourself properly.

Now about the Gift deed and how to do it properly, check out the below thread on this forum.
http://www.canadavisa.com/canada-immigration-discussion-board/sep-18-draw-17-itas-candidates-connect/-t349224.0.html

 

[Canadianspirit]

Hi guys how about if I am a primary applicant and the funds are in my husbands name who is included in my application. Any advise for express entry proof of funds?

Guys any advise please?

 

[kukreja.vijayk]

You will not have any problems if your father gifts you the amount needed. You pay up your loan in Saudi and have enough fund to show.

You do not need any expert consultant or lawyer. But you have to be very careful when you submit scanned documents online. people have been refused for not uploading proper documents. If you have any question, check out posts on this forum before submitting and filling out forms. If you don't find answers, post your questions on this forum. You know your situation better than any one ever could. You will have enough time to do it yourself properly.

Thanks for your suggestions.

Actually, I don't want to pay off my loan as of now - I want to keep it until I move to Canada, if I get immigration.

Second, I' m just curious, why Gift Deed? Because, I sent this money to my father from Saudi Arabia and I have track record of that. I think it could be just i'm getting money back from my dad rather gift deed. Any transfer deed or something can do this job, what I presume. What you have to say on this? please provide your valuable insight.

 

[Maverick28]

Thanks for your suggestions.

Actually, I don't want to pay off my loan as of now - I want to keep it until I move to Canada, if I get immigration.

Second, I' m just curious, why Gift Deed? Because, I sent this money to my father from Saudi Arabia and I have track record of that. I think it could be just i'm getting money back from my dad rather gift deed. Any transfer deed or something can do this job, what I presume. What you have to say on this? please provide your valuable insight.

You can get a letter stating you loaned that money to your father and now you are getting it back. Get your father to sign that too.

 

[kukreja.vijayk]

You can get a letter stating you loaned that money to your father and now you are getting it back. Get your father to sign that too.

Thanks for your input. I think, yeah it make sense and I can then pursue it.

How about the 6 month average balance issue? Like as I said, I hardly maintain any bank balance in Saudi or Pakistan and remit the funds very regularly to my father for investment purposes under his name. How i can show this?

I will get the money from my father and transfer it to my account and can show the net assets of around 20,000 CAD. Though, I'm single and requires only 12,000 CAD.

However, please note that I can show my father statement, which has sufficient balance to show over the period of this much.

Thanks