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

[aniket2789]

Hi,
I have mentioned $24000 as funds in my EE profile , after the ITA I have $35000in my accounts and this amount will be reflected in my bank letter and Account statement. I would like to know if I can Withdraw some amount from it after submission of my application or do i need to maintain 35000$ throughout the process. I am asking this because i have to make some business payments of about 4000$ next month.

 

[kryt0n]

Hi,
I have mentioned $24000 as funds in my EE profile , after the ITA I have $35000in my accounts and this amount will be reflected in my bank letter and Account statement. I would like to know if I can Withdraw some amount from it after submission of my application or do i need to maintain 35000$ throughout the process. I am asking this because i have to make some business payments of about 4000$ next month.

As long as you meet the minimum you're fine

 

[harshilsm]

The explanation you just gave as to why it was in your mum's name. Explain it clearly and in full.

Dear officer.

The proof of funds is in my mum's name because xyz...
Please find an affidavit...

Yours sincerely...

Hey Kryt0n,

Thanks for that. I will have it writeen in detail as to why it is in my mum's name.

Thanks much!

 

[ibk]

Hello Guys

Can you please share the format of the Affidavit and Gift deed??

 

[DelPiero07]

Hello Guys

Can you please share the format of the Affidavit and Gift deed??

http://www.canadavisa.com/canada-immigration-discussion-board/gift-deed-letter-t384602.0.html
http://www.canadavisa.com/canada-immigration-discussion-board/draft-gift-deed-template-t395844.0.html

Cheers

 

[ibk]

@ DelPiero07

Thanks for sharing the link of gift deed, Also could you please share the link or paste the format of Article 4 Affidavit??

 

[DelPiero07]

@ DelPiero07

Thanks for sharing the link of gift deed, Also could you please share the link or paste the format of Article 4 Affidavit??

No idea what you're talking about.

The affidavit is a sworn statement under oath in front of a notary public (or authorized officer), by having your relative sign the the gift deed letter he/she is legally swearing that the statements are a fact and thus, an affidavit is created.

Cheers

 

[sundayinthepark]

Hi everyone,

I am applying as a single person so I only need to provide proof of funds for above 12k. I have 3 fixed term deposits totalling around 50,000 CND. The rest of my money (only around 1000-2000 CND) I put in two everyday saving accounts for daily use. Recently my mom transferred 2500 CND to my daily saving account so that I have some more money to shop or travel as I may like. 2500 CND is indeed quite a normal small amount of money regarding our family lifestyle.

The term deposits are opened a year ago, and always untouched, with a total of 50,000 CND. Would that be sufficient to prove my proof of funds? Will the little balance in my daily accounts and the recent transaction from my mom in that account be a problem for me? I mean the daily accounts are below 12k anyway, and most of my funds to prove lie in the term deposits, but I'm still not sure if I need to explain anything about my daily accounts and my mom's transaction?

I would greatly appreciate anyone shedding some light on this. Thanks so much for your help.

 

[Snowhity85]

Hey guys I need help as I intend to submit my application soon. For proof of fund I sold my landed property and I've fixed the money the following day after payment. So plz give me the list of the documents in detail that I would need to submit to cic.

 

[DelPiero07]

Hey guys I need help as I intend to submit my application soon. For proof of fund I sold my landed property and I've fixed the money the following day after payment. So plz give me the list of the documents in detail that I would need to submit to cic.

You would need proof that you sold that property (translated if not in english/french), bank statement to match that amount with the proof you will provide and a letter of explanation regarding the fact that you sold the property to meet the required funds.

Cheers

 

[ibk]

GIFT DEED
I, _________________ (name of donor), S/o _________________ (father’s name), R/o _____________________ (address), do hereby on dated __________ make a gift-deed for a gift made on dated of ___________, Rs. ______/- (Rupees in word) out of love and affection to my ____________ (mention the relationship & name of receiver), S/o or W/o _______________, R/o _________________________. I confirm that I am a resident Indian. I, further confirm that this gift is being made out of my own funds standing to the credit of my A/c No.- __________ in
____________(mention the Bank name & address).
I, further confirm that the consideration for this gift is the love and affection for my ____________________ (mention the relationship & name of receiver) and no other consideration.
I am an Income Tax assessee having PAN/GIR # A-984 / N and assessed with Income Tax ward 1, Noida and this gift is made out of my past savings from profession in India. Strictly Confidential 2 P A R Y & Co.
I further confirm that the gift has been made by Cheque No ___________ dated _______ drawn on ___________________________ (mention the Bank name & address). This gift is irrevocable and I have no claim left whatsoever on the said gifted amount and he/she is free to utilise it in any manner.

PLACE:
DATED: _______________________
(Donor name)


Witness:
The gift as stated above is accepted




______________________
(Name of receiver)







In the above gift deed in the final statement "I further confirm that the gift has been made by Cheque No ___________ dated _______ drawn on ___________________________ (mention the Bank name & address)" whose bank name and address should I mention donor's or the receiver's. Please clarify.

Also I couldn't get the format of article 4 affidavit, would appreciate if anybody share it.

 

[harish21jun]

Hey Guys,

Currently I am waiting for an ITA and in the meantime trying to collect info/docs required for the submission.

With regards to fund, I have enough funds in both of my Canadian account and Indian account and want to know what should I provide for proof.
Is it just bank statements which we get online, no bank stamping and all : For Canadian account this is the only thing I can provide as I am in India currently.
Or Stamped one from Bank, in this case it would be for my Indian bank account.

Anything else, please suggest.

Thanks
HKD

 

[DelPiero07]

Also I couldn't get the format of article 4 affidavit, would appreciate if anybody share it.

Already answered this, please look at the posts above.

 

[DelPiero07]

Hey Guys,

Currently I am waiting for an ITA and in the meantime trying to collect info/docs required for the submission.

With regards to fund, I have enough funds in both of my Canadian account and Indian account and want to know what should I provide for proof.
Is it just bank statements which we get online, no bank stamping and all : For Canadian account this is the only thing I can provide as I am in India currently.
Or Stamped one from Bank, in this case it would be for my Indian bank account.

Anything else, please suggest.

Thanks
HKD

You are required to provide a bank letter with the following:

"If you are applying for permanent residence in Canada, you must provide an official letter issued by your financial institution indicating your financial profile.

Your financial profile includes a listing of all your bank (chequing and savings) and investment accounts. The official letter must be printed on the letterhead of the financial institution and must include your name, the contact information of the financial institution (address, telephone number and e-mail address), the account numbers, dates of when each account was opened and the balance of each account over the previous 6 months. "

Cheers

 

[kryt0n]

I've finally worked out how to get evidence from my bank that they won't write a financial letter. I we t into branch and they told me they don't have letter headed paper to write letters. I called head office and they said no. So.... I'm going to write to the complaints team. I'm going to write and mention that I had asked for a letter and I find it ridiculous that after 25 years of using the same bank they can't produce a letter. I won't put any other contact details on the letter other than my postal address so they will HAVE to write a response.

Boom. Just an idea if that helps anyone.