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

[anujgupta84]

Hello all

Can I use someone else's card to pay for processing fees.
Yes, not a problem


I have just used one LOE for everything in my application. Should I make section specific LOE?
There should be one LOE in an ideal case.


Thanks

 

[anujgupta84]

OINP PoF question: A major chunk of my funds is in my wife's bank account, and I would be transferring it to mine - should I show my wife's bank statements as well, or would a signed letter indicating that she is gifting it to me suffice (and does this document have to be on a stamp paper?) ?

Thanks!

I am assuming both of you are in the same application. There is not need of any Gift deed. You can include her statement along with yours and mention about the transaction in the LOE. It won't cause any issue at all.

 

[anujgupta84]

Thanks you so much anujgupta84..

One last question, in my locked profile (Pre ITA profile), I mentioned IELTS results dates as 30-12-2014 whereas original result dates are 30-10-2014. It is purely data entry mistake. Do you think it would be a problem? Because it wouldn't affect my CRS as IELTS wouldn't be expire in both cases. My CRS score is 1047.
Do you think I have to add letter of explaination in which I would apologise for this mistake and say that it is data entry mistake? What do you think in this regard?

Yes, please include a small explanation in LOE about the error. Any which ways you would be including IELTS doc in your application, so it will automatically solve all questions that might arise in VO's head.

 

[Rina9285]

Hi,

I will get a money gift from my cousin who lives in USA. My husband is a main applicant and I am co-applicant. We have a joint account. So I have a few questions regarding my PoF.

1. In whose name the funds should be transferred? Mine or my husband's name?

2. Can my cousin give gift to my husband? Wouldn't it be strange that he is not gifting me? Would that raise a question in VO's mind?

3. How do I rpve that he is my cousin? Or there is no need to prove it?

4. Can I get gift on my name and include a self declaration stating that I have no objection if my husband uses these money?

5. As the gift is from USA, should I get it thorough cheque or electronic transfer? Anything else should I keep in mind for this transaction?

6. The 'Deed of Gift' document should be in USA format? Is it ok if my cousin and two witnesses sign it in USA, send it to me in Canada and I sign it here? In that case do we need to include place and date two times?

7. What other documents should I get from my Cousin?

Thank you in advance. Looking forward for your help friends.

 

[anujgupta84]

Hi,

I will get a money gift from my cousin who lives in USA. My husband is a main applicant and I am co-applicant. We have a joint account. So I have a few questions regarding my PoF.

1. In whose name the funds should be transferred? Mine or my husband's name?
Since he is your cousin, funds should be transferred in your name.


2. Can my cousin give gift to my husband? Wouldn't it be strange that he is not gifting me? Would that raise a question in VO's mind?

Preferred way is to get funds transferred in your name.

3. How do I rpve that he is my cousin? Or there is no need to prove it?

A simple affidavit would do. Please contact a Chartered Accountant. He would know it all. Don't pay him more than Rs. 500-1000.

4. Can I get gift on my name and include a self declaration stating that I have no objection if my husband uses these money?

Yes

5. As the gift is from USA, should I get it thorough cheque or electronic transfer? Anything else should I keep in mind for this transaction?

Anything would do. Transaction ID, date, Bank name, Cheque number, all this will be mentioned in Gift deed.

6. The 'Deed of Gift' document should be in USA format? Is it ok if my cousin and two witnesses sign it in USA, send it to me in Canada and I sign it here? In that case do we need to include place and date two times?

It will be as per the place where applicants are residing ie, where their bank account is.

7. What other documents should I get from my Cousin?

Just a Gift Deed and Affidavit (This affidavit would be signed by him, hence it would be as per USA)
Thank you in advance. Looking forward for your help friends.

 

[Rina9285]

Thank you very much AnujGupta for clearing my doubts quickly. That was a great help. I just have two last queries about Deed of gift. As the Donor and Donee are in two different country, where the witnesses should be from? And as the donor and donee will sign it on different dates and places, do we need to mention both the places and time?

Thank you again for your time.

 

[Tishfaith]

Hi,


I got 1 of my bank statement today and the financial institution gave me the following:

- A letter explaining that I have been a member of the entity from X date and that my current balance is CD4,000.
- A printout of my accounts from May 1, 2015 to October 26, 2015. (This official printout shows all my transactions in my accounts with the entity)

The above information is on the financial institution letter head.

Is the above OK/sufficient????

Also, May to October would suffice for the 6 months balances?


Thank you

 

[saikris12]

Hi anujgupta84,

Thanks for all the help. I am actually going to submit Fixed Deposit certificate as Proof of funds for OINP. If I submit FD certificate, should I also provide the bank statement as well?

 

[Dabas B]

Hello Anuj


Is it ok to show Only money in net worth certificate. I mean my maternal uncle has gifted me the money with affadivt and declarations. He has saving of around 1.5 crores in his saving account. Will it be ok to just attach the balance sheet of my maternal uncle gift deed and affadivt

 

[rohitbites]

Does the gift deed need to be notarized?

 

[rohitbites]

Guys,

I have about $12200 CAD, but out of that - approx $2000 is in a 'lock-in' period until Aug 2016, and I cannot redeem it.

My family, and my colleagues are helping me put funds in my account (about $2000CAD), so do i have to get multiple gift deeds? :|

 

[saikris12]

Hi,

I have another 25 days to submit my application for OOPNP.
I am actually going to submit Fixed Deposit certificate as Proof of funds. If I submit FD certificate, should I also provide the bank statement as well?
Also this FD is in my name and I opened it 10 days ago. Should I provide any other document to show that these are my funds?

Thank you everyone on this forum for helping out each other.

 

[haceeb]

I have approx. 15000 CAD in my account for the last 8 months. I got some funds from family and sold some valuable items.

Now if these funds are resting in my account for more that 6 months, do I still need to show a gift/inheritance certificate ??

 

[Ufa6174]

I have approx. 15000 CAD in my account for the last 8 months. I got some funds from family and sold some valuable items.

Now if these funds are resting in my account for more that 6 months, do I still need to show a gift/inheritance certificate ??

No you do not, since you will be showing 6 months statements.

 

[Sita1987]

Hi,

I have another 25 days to submit my application for OOPNP.
I am actually going to submit Fixed Deposit certificate as Proof of funds. If I submit FD certificate, should I also provide the bank statement as well?
Also this FD is in my name and I opened it 10 days ago. Should I provide any other document to show that these are my funds?

Thank you everyone on this forum for helping out each other.

You will need to submit last six months bank account statements in which the required amount of funds have been maintained for the past six months. Since FD has been opened only 10 days back you cannot just show FD certificate as proof of funds. You will need to show to OINP that the money which is now in your FD was previously in your account for the last six months. If not you will have to submit, gift deeds, affidavits etc. as stated previously in this thread.