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

[charan_yalala]

Hello,

This is for my friend!!
He has bank balance for 3 people but it is only 2 months old in his savings bank account and he has got ITA.
CIC requires bank statement for 6 months?
He is married and can you please let me know what below will work
1) He will transfer the money to a third party and in-turn it will be transferred to his mother and his mother will transfer to a different bank account of his and will show this as gift deed.(The new bank account was opened 6 months ago).
2) He will transfer the money to a third party and in-turn it will be transferred to his wife and his wife will transfer to a different account of his
and will show this as gift deed.(The new bank account was opened 6 months ago).

Regards and will appreciate your response

 

[anujgupta84]

Hello,

This is for my friend!!
He has bank balance for 3 people but it is only 2 months old in his savings bank account and he has got ITA.
CIC requires bank statement for 6 months?
He is married and can you please let me know what below will work
1) He will transfer the money to a third party and in-turn it will be transferred to his mother and his mother will transfer to a different bank account of his and will show this as gift deed.(The new bank account was opened 6 months ago).
2) He will transfer the money to a third party and in-turn it will be transferred to his wife and his wife will transfer to a different account of his
and will show this as gift deed.(The new bank account was opened 6 months ago).

Regards and will appreciate your response

How will he show that his Mother is the owner of that money?
EPF doesn't work because it's not a liquid money. Some people say it works, but I haven't seen a successful case in this regard.
If Spouse is in the application, her POF can work. Just that if all the money is in Principal Applicant's account, it's better.

 

[vivekforbes]

I am working in Canada now, and i have only 1/4 of the POF, but if i can save up then i can reach required fund. Is that ok or still i have to show six month balance?

I can provide six months statement, and money mostly from my salary, bonus, tax returns. is that ok?

 

[anujgupta84]

I am working in Canada now, and i have only 1/4 of the POF, but if i can save up then i can reach required fund. Is that ok or still i have to show six month balance?

I can provide six months statement, and money mostly from my salary, bonus, tax returns. is that ok?

Absolutely ok.

 

[cristian240]

quick question, do I upload the affidavit, explanation of funds transfers, gift deed, etc. on the "Proof of Fund" document or on the "Letter of Explanation"?

 

[anujgupta84]

quick question, do I upload the affidavit, explanation of funds transfers, gift deed, etc. on the "Proof of Fund" document or on the "Letter of Explanation"?

Proof of Fund section. LOE section can have a letter than explains your over-all situation like anything you want the Visa Officer to know about your Work exp, Education, etc. It basically speaks for you. Mention whatever adds value to your case in the LOE and makes things simpler for the VO.

 

[batoolkhan]

Hi All

I have few queries related to POF ...

First of all I am asking about POF requirement for provincial Nominees ...I have submitted my spouse's bank statement to SINP and it worked but recently I came to know that CIC only accepts account details related to Principal applicant .....Now my question is does it apply to provincial nominees as well or for EE only?

I have checked the document checklist and found that CIC is not asking POF documents for provincial nominees... Am i going right?

If in future they ask me about POF I wont be able to provide with my name on bank statement as the account belongs to my husband and he is also included in application as dependent. Should I transfer all amount to my bank account right now and prepare all documents mentioned in this thread in advance?

plzz all experts especially Asivad reply me

 

[k0nduire]

Hello all,

I just had to clarify. I read that CIC would need 6months bank statement.
Will I have any issues if my bank statement for POF would only show a one time deposit and no further transactions?
Given that the account is more than 6months, only one time big deposit.

Thanks

 

[cuwat]

Hi All

I have few queries related to POF ...

First of all I am asking about POF requirement for provincial Nominees ...I have submitted my spouse's bank statement to SINP and it worked but recently I came to know that CIC only accepts account details related to Principal applicant .....Now my question is does it apply to provincial nominees as well or for EE only?

I have checked the document checklist and found that CIC is not asking POF documents for provincial nominees... Am i going right?

If in future they ask me about POF I wont be able to provide with my name on bank statement as the account belongs to my husband and he is also included in application as dependent. Should I transfer all amount to my bank account right now and prepare all documents mentioned in this thread in advance?

plzz all experts especially Asivad reply me

Similar case to me, I guess..

I applied OOPNP under my wife name. Would be it possible to use my (as a husband) bank account for the money settlement?

Condition:
We opened a new bank account for my wife. But, I just received the confirmation from the Bank that they could not issue bank reference for the account for recently opened. They will only provide if it is already 6 months old.

What should I do with this?

Thank you. Highly appreciate for your help.

 

[JoacRy]

Hello all,

I just had to clarify. I read that CIC would need 6months bank statement.
Will I have any issues if my bank statement for POF would only show a one time deposit and no further transactions?
Given that the account is more than 6months, only one time big deposit.

You need to prove that these funds are yours exclusively either through salary, sale of assets belonging to you, gift deeds etc.

Thanks

 

[batoolkhan]

How will he show that his Mother is the owner of that money?
EPF doesn't work because it's not a liquid money. Some people say it works, but I haven't seen a successful case in this regard.
If Spouse is in the application, her POF can work. Just that if all the money is in Principal Applicant's account, it's better.

Are u sure that if spouse is in the application , his/her account details as POF can work ?

 

[cuwat]

Similar case to me, I guess..

I applied OOPNP under my wife name. Would be it possible to use my (as a husband) bank account for the money settlement?

Condition:
We opened a new bank account for my wife. But, I just received the confirmation from the Bank that they could not issue bank reference for the account for recently opened. They will only provide if it is already 6 months old.

What should I do with this?

Thank you. Highly appreciate for your help.

I am still wondering about this. Anyone, had an experience?

 

[anujgupta84]

I am still wondering about this. Anyone, had an experience?

As long as funds are yours, nothing else matters. Simply transfer the funds to an account which is more than 6 months old and is in your name. Then explain this transfer in LOE. That's it!

 

[subramani_vs]

Hi anujgupta, I've been following this forum and can see how effectively you have clarified all the doubts.

I've a question for you. I've applied for SINP and have 60% of POF that is more than 6 months old. But the remaining 40% is only 1 month old. I did a gift deed that I've received the amount from my father and notarized it. Will this create a problem as it only 1 month old? What if SINP nominates and CIC sees that the POF is not 6 months old?

Please advise.

 

[vivekforbes]

I am going to provide six months statement, document from bank about current balance, average balance for six months, account opened date, my investments in bank official letter. My funds are from pay stubs from my work. I am not borrowing any money from anyone. Do i still need to submit the Letter of Explanation (LOE)?