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A complete way to nail 'Source of fund' dilemma!

anujgupta84

Hero Member
Sep 12, 2014
612
57
KingBing said:
My both parents are Government employees can they show their provident fund in their net worth or do they just show liquid cash? (point is they are not retired yet but eligible to get retirement as they have completed their 25 years of service by which they are entitled to get provident funds and other benefits like pension etc.)
KingBing, Net-worth certificate shows Assets minus Liabilities. Of-course your parents need not have liquid funds to show in Assets.

Assets can be anything, FD, Cash, Property, PPF, PF, etc.. all comes under Assets. You just need to provide a clarity to the VO that your parents can survive peacefully without the money they gave you. A Chartered Accountant in India will make Net-worth certificates in few hours. It should be on his letter head.

I hope I made some sense.
 

KingBing

Member
Sep 27, 2015
17
0
anujgupta84 said:
KingBing, Net-worth certificate shows Assets minus Liabilities. Of-course your parents need not have liquid funds to show in Assets.

Assets can be anything, FD, Cash, Property, PPF, PF, etc.. all comes under Assets. You just need to provide a clarity to the VO that your parents can survive peacefully without the money they gave you. A Chartered Accountant in India will make Net-worth certificates in few hours. It should be on his letter head.

I hope I made some sense.
Thank you very much.. You have cleared everything.. thank you for your kind support.. :)
 

ADteam

Star Member
Aug 7, 2015
89
3
Job Offer........
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Hi everyone,

Does my bank letter needs to state that I don't have any debts or loans or credit cards? Also the average balance letter is necessary cause my bank has not given it on letterhead, just on a bank paper with stamp and sign.

Thanks everyone for sharing such valuable information. :)
 

forcanada

Star Member
Apr 8, 2015
178
4
Category........
Visa Office......
New Delhi
NOC Code......
4021
Job Offer........
Pre-Assessed..
AOR Received.
15-01-2016
Med's Done....
25-01-2016
Passport Req..
15-06-2016
anujgupta84 said:
Yes. Your parents live together. Net-worth of 3 people ie, your family will prove your financial stability to the VO and answer all his questions
Hi
Is a net-worth certificate required with gift-deed in every case?
 

rollingpunjab

Star Member
Oct 1, 2015
146
10
Dear forum members

I have finally decided to include my name to my wife's bank account. I am a prime applicant. My query is of I produce bank statement s of my wife and letter from the bank plus affidavit from my wife, will that suffice ?
Or after adding my name I still have to convert the money into FD.

Please guide

Regards
 

anujgupta84

Hero Member
Sep 12, 2014
612
57
ADteam said:
Hi everyone,

Does my bank letter needs to state that I don't have any debts or loans or credit cards? Also the average balance letter is necessary cause my bank has not given it on letterhead, just on a bank paper with stamp and sign.

Thanks everyone for sharing such valuable information. :)
If the Bank letter doesn't state about loans, credit cards and debts, CIC will automatically take it as yes and consider you don't have any loans etc associated with that Bank.

Letter head of a bank is a MUST, even if they don't give average balances, it's fine. But BANK LETTER HEAD is a MUST!!!
 

anujgupta84

Hero Member
Sep 12, 2014
612
57
forcanada said:
Hi
Is a net-worth certificate required with gift-deed in every case?
Net-worth certificates answers the questions that your parents haven't exhausted all their savings and can survive without the money they gave you. That's why it's suggested to include it.
 

anujgupta84

Hero Member
Sep 12, 2014
612
57
rollingpunjab said:
Dear forum members

I have finally decided to include my name to my wife's bank account. I am a prime applicant. My query is of I produce bank statement s of my wife and letter from the bank plus affidavit from my wife, will that suffice ?
Or after adding my name I still have to convert the money into FD.

Please guide

Regards
It will suffice. You don't need to convert it into FD.
 

forcanada

Star Member
Apr 8, 2015
178
4
Category........
Visa Office......
New Delhi
NOC Code......
4021
Job Offer........
Pre-Assessed..
AOR Received.
15-01-2016
Med's Done....
25-01-2016
Passport Req..
15-06-2016
anujgupta84 said:
Net-worth certificates answers the questions that your parents haven't exhausted all their savings and can survive without the money they gave you. That's why it's suggested to include it.
Thanks Anuj.
Have you decided about the city to land in?
 

ADteam

Star Member
Aug 7, 2015
89
3
Job Offer........
Pre-Assessed..
Hi anujgupta84 I have balance certificates on bank letterhead but the statements are printed on separate kind of paper. It has all bank's name address contact details, my details and Stamp and sign. Would that be okay?
 

anujgupta84

Hero Member
Sep 12, 2014
612
57
ADteam said:
Hi anujgupta84 I have balance certificates on bank letterhead but the statements are printed on separate kind of paper. It has all bank's name address contact details, my details and Stamp and sign. Would that be okay?
Yeah! Absolutely Ok.. statements need to be stamped and signed ..that's it!!
 

zanny

Hero Member
Jul 13, 2015
203
17
Category........
Visa Office......
New Delhi
NOC Code......
1112
Job Offer........
Pre-Assessed..
App. Filed.......
06-09-2015
AOR Received.
30-10-2015
IELTS Request
27-07-2015
Interview........
Not reqd
Passport Req..
08-12-2015
VISA ISSUED...
17-12-2015
LANDED..........
Mid-2016
anujgupta84 said:
Yeah! Absolutely Ok.. statements need to be stamped and signed ..that's it!!
Do we have to get the statement from mutual funds stamped too? I told my mutual funds to meet the PoF requirement. One of the mutual fund offices told me they don't stamp account statements and that online statement and one they give are same
 

zanny

Hero Member
Jul 13, 2015
203
17
Category........
Visa Office......
New Delhi
NOC Code......
1112
Job Offer........
Pre-Assessed..
App. Filed.......
06-09-2015
AOR Received.
30-10-2015
IELTS Request
27-07-2015
Interview........
Not reqd
Passport Req..
08-12-2015
VISA ISSUED...
17-12-2015
LANDED..........
Mid-2016
anujgupta84 said:
KingBing, Net-worth certificate shows Assets minus Liabilities. Of-course your parents need not have liquid funds to show in Assets.

Assets can be anything, FD, Cash, Property, PPF, PF, etc.. all comes under Assets. You just need to provide a clarity to the VO that your parents can survive peacefully without the money they gave you. A Chartered Accountant in India will make Net-worth certificates in few hours. It should be on his letter head.

I hope I made some sense.
Anuj,

Do I need to get a net worth certificate for my wife? I have got the gift deed and self declaration form from her after she transferred the money into my account. She is a co-applicant in the EE process
 

anujgupta84

Hero Member
Sep 12, 2014
612
57
zanny said:
Do we have to get the statement from mutual funds stamped too? I told my mutual funds to meet the PoF requirement. One of the mutual fund offices told me they don't stamp account statements and that online statement and one they give are same
Mutual funds won't work for POF. Sell the units, get the funds in Bank account, then use that account.