Selling gold jewelry for proof of funds

[empower]

MY gold jewelries are in India so I will ask my parents to sell my gold jewelry and ask the shopman to transfer the amount to my Indian account directly. They will get sale receipt too which will contain that Indian jeweler shop address.

The question is, as I am living abroad, how to explain to IRCC that the gold sold actually belonged to me (not my parents) and I sold it in India through my parents. (IRCC knows I am not in India now through my address history)

Did anyone face this?

 

[mr.preetsingh]

MY gold jewelries are in India so I will ask my parents to sell my gold jewelry and ask the shopman to transfer the amount to my Indian account directly. They will get sale receipt too which will contain that Indian jeweler shop address.

The question is, as I am living abroad, how to explain to IRCC that the gold sold actually belonged to me (not my parents) and I sold it in India through my parents. (IRCC knows I am not in India now through my address history)

Did anyone face this?

If the funds are 3 months old, you can use that as Proof of Funds with 3 months' bank statement. Although IRCC says 6 months yet they accept 3 months older bank statements.

Another way would be, to get the gold money to your parent's account and get a gift deed from them to your name. IRCC will not ask your parents for the source of funds.

 

[empower]

If the funds are 3 months old, you can use that as Proof of Funds with 3 months' bank statement. Although IRCC says 6 months yet they accept 3 months older bank statements.

Another way would be, to get the gold money to your parent's account and get a gift deed from them to your name. IRCC will not ask your parents for the source of funds.

Thanks. Instead Can my father declare an affidavit that he sold his daughter's jewelry as per his daughter's request for Canada pr because she lives abroad? And that the jewelries belonged to his daughter (that's me).

 

[mr.preetsingh]

Thanks. Instead Can my father declare an affidavit that he sold his daughter's jewelry as per his daughter's request for Canada pr because she lives abroad? And that the jewelries belonged to his daughter (that's me).

Gift Deed from Parents. Get money to their accounts and then transfer it to yours.

The Principal applicant has to give Consent Letter that he/she has access to the money in the spouse's account. Don't forget that.

Avoid the Gold Route. Wait for others to share their experiences and act accordingly.

 

[empower]

Gift Deed from Parents. Get money to their accounts and then transfer it to yours.

The Principal applicant has to give Consent Letter that he/she has access to the money in the spouse's account. Don't forget that.

Avoid the Gold Route. Wait for others to share their experiences and act accordingly.

I am the daughter. I am the primary applicant and only applicant. And the gold is my gold worth 11 lakhs. Only issue is that my gold is in India, and I am living abroad. So I am asking my father to sell my gold and ask the jeweler to transfer the amount direct to my Indian account which the jeweler agreed to. My father will get the sale receipt as well from the jeweler which will contain my name. I will then submit the sale receipt containing my name and also proof of funds from my Indian bank. Won't this be enough?

 

[Daren2023]

I am the daughter. I am the primary applicant and only applicant. And the gold is my gold worth 11 lakhs. Only issue is that my gold is in India, and I am living abroad. So I am asking my father to sell my gold and ask the jeweler to transfer the amount direct to my Indian account which the jeweler agreed to. My father will get the sale receipt as well from the jeweler which will contain my name. I will then submit the sale receipt containing my name and also proof of funds from my Indian bank. Won't this be enough?

The point that people are trying to make is that you need to have your father sell the jewelry and put the money in HIS account. Then he GIFTS you the money via a gift deed.

 

[mr.preetsingh]

I am the daughter. I am the primary applicant and only applicant. And the gold is my gold worth 11 lakhs. Only issue is that my gold is in India, and I am living abroad. So I am asking my father to sell my gold and ask the jeweler to transfer the amount direct to my Indian account which the jeweler agreed to. My father will get the sale receipt as well from the jeweler which will contain my name. I will then submit the sale receipt containing my name and also proof of funds from my Indian bank. Won't this be enough?

As I have mentioned two times, the Gift deed is a safer route. Rest, it's your choice, you are free to do whatever you want.

IRCC accepts Gift Deeds but IRCC does not say anything about jewellery selling money in an account.

So it's up to you to accept or ignore this.

 

[imransyed]

In a gift deed, your father gifts you xx amount of money either in cash or deposited directly to your bank account. Your father can mention the bank deposits on the gift deed and state the transaction numbers as well, which will be reflected in your account statement.


Your father does not need to explain the source of these funds. IRCC does not need to know whose jewellery is being sold for what. Reason on the gift deed (if at all required) can be that he's helping you out financially as you're his kid.

The main thing that the gift deed should say is that the gift is irreversible, no claim will be made on the money once you have it, which means its isn't a loan or temporary credit or anything like that.

Take the whole sale receipt or sale of gold aspect out of the picture.

 

[empower]

In a gift deed, your father gifts you xx amount of money either in cash or deposited directly to your bank account. Your father can mention the bank deposits on the gift deed and state the transaction numbers as well, which will be reflected in your account statement.


Your father does not need to explain the source of these funds. IRCC does not need to know whose jewellery is being sold for what. Reason on the gift deed (if at all required) can be that he's helping you out financially as you're his kid.

The main thing that the gift deed should say is that the gift is irreversible, no claim will be made on the money once you have it, which means its isn't a loan or temporary credit or anything like that.

Take the whole sale receipt or sale of gold aspect out of the picture.

Thanks a lot. If my father makes the gift deed and affidavit and signs them in India, how will I be able to sign those documents as I am living abroad? IRCC knows I m living abroad so how to sign them.
I heard the recipient also needs to sign the gift deed and affidavit.

 

[empower]

As I have mentioned two times, the Gift deed is a safer route. Rest, it's your choice, you are free to do whatever you want.

IRCC accepts Gift Deeds but IRCC does not say anything about jewellery selling money in an account.

So it's up to you to accept or ignore this.

Thanks a lot. If my father makes the gift deed and affidavit and signs them in India, how will I be able to sign those documents as I am living abroad? IRCC knows I m living abroad so how to sign them.

I heard the recipient also needs to sign the gift deed and affidavit.

 

[empower]

The point that people are trying to make is that you need to have your father sell the jewelry and put the money in HIS account. Then he GIFTS you the money via a gift deed.

Thanks a lot. If my father makes the gift deed and affidavit and signs them in India, how will I be able to sign those documents as I am living abroad? IRCC knows I m living abroad so how to sign them.

I heard the recipient also needs to sign the gift deed and affidavit.

 

[imransyed]

you ever heard of DHL/fedex?

 

[empower]

you ever heard of DHL/fedex?

Gift deed and affidavit needs to get signed by donor and receiver INFRONT of the notary as per Indian rules. So my father there could sign infront of notary, but how could I? Traveling to India is not an option because then I will have to get another police clearance certificate which will take time, and I am lacking time.

 

[Daren2023]

Couldn’t you give a lawyer a power of attorney?

 

[empower]

Couldn’t you give a lawyer a power of attorney?

Unfortunately no