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

[DelPiero07]

Dear Experts,

Have a question.. We are waiting for wes and ielts results, did not open ee profile yet. My husband is a principal applicant and has LMIA approved.

-do we have to show funds if he has a valid job offer?
-if yes, how much? (family of four)
-if we show more will our chances become better?


Thank you in advance!

1 - No he does not have to show POF if he has a valid job offer.
2 - No, it won't better your chances.

 

[awaisf430]

I have a question.

I am a private tutor for University students. I get cash from time to time from students which I deposit into my account. Will I need a Source of Funds for these amounts? The amounts are always less than CAD$3500.

Thank you

 

[TakhminaB]

1 - No he does not have to show POF if he has a valid job offer.
2 - No, it won't better your chances.

Thank you so much! This is pretty weird though... the agency sent me a message today that we have to show at least 10 000 - 15 000 CAD (((

 

[Escobar Gaviria]

Hello everyone,

I am going to make gift deed tomorrow. I have a few questions:

1- I lived in City A for 6 years and have a 6 year old account there. Can I use that account for POF while currently living in City B for 6 years?
2- What is the purpose of affidavit if I am getting gift deed made?
3- What else should I prepare other then, gift deed, bank statments and proof of transfer to and fro?
4- My brother is UAE resident currently but Paksitani national, should I get his net worth certificate?

 

[KRahman]

I got ITA on 25 Jan, 2017 at 456 points. I am currently preparing all my documents for APR.

I have already managed all my documents including PCC for Bangladesh and U.K. (where I studied), medical, employment certificates, IELTS TRF (Band 8.0), and ECA (Post Doc)

I have to show a fund of around 19000 CAD for a family of three members. Currently, I have the fund in my account. I have recently received the money from my dad.

I have seen in the canadavisa forum how many people have submitted a gift deed as the source of fund.

However, my dad has deposited the money into my account by cash and it was not transferred from his account by a clearing cheque.

Will it be okay if I only submit the gift deed with my bank letter and account statements without my father's bank statements and proof of transactions from his account to mine?

Please let me know.

Bhai if that money from your dad came from selling something then just make a selling deed and notarize it and then add that with your gift deed.

 

[nazmulhoque]

Thank you. But what it my father has not sold anything and the money mainly came from his savings and monthly income. Will CIC ask for my father's bank statements and property deeds as well? If my father has donated me the money do I need to submit evidence of his source of income or how he got the money?

Regards,

 

[Kazem]

Hello,

My situation is that I am in a Sales role at my company and, apart from a monthly salary, I get paid a yearly sales commission. Now there is no particular schedule on which this commission is paid to me; I just withdraw from the company however much I need each month.

Now due to this, a hefty amount has been collecting in my name at my company's fund, but I don't have a strong Bank Statement.

I will definitely ask my company to pay me a larger amount (around CAD 12-13,000) but naturally it'll appear in my account as a balloon payment.

My question is; can I get an official letter from my company stating that I have $X amount in my name (which includes Sales Commission, Gratuity and Provident Fund), and which is liable to be paid to me upon my request (Sales Commission) or upon my departure from the company (Gratuity + PF)?

I can even have my company write this letter on an official Notarized Stamp Paper.

Considering the amount will not be in my account for 6 months, will this document satisfy the authorities that the money is indeed my own?

 

[KRahman]

Thank you. But what it my father has not sold anything and the money mainly came from his savings and monthly income. Will CIC ask for my father's bank statements and property deeds as well? If my father has donated me the money do I need to submit evidence of his source of income or how he got the money?

Regards,

If it's coming from your father's savings account then just get his bank statement where the transaction is mentioned. You are good to go.

 

[rohitsagwal]

First of all, I want to let the members know that this is a great place to get all the information about Immigration to Canada. I was eager to make this thread as and when I got PPR which confirmed that whatever I did my 'Source of funds' request was right. There is a lot of confusion around this part of the application. Most of the candidates are sure about remaining part of their application but we all get confused whenever money gets involved, since we all are not well-versed with the laws, etc. So for the benefit of new applicants or someone you got this kind of request, I would like to contribute by providing some clarity!

This is my timeline:

10/04 FSW ITA (CRS:473, India)
24/04 AOR
19/05 Med Passed




22/05 ECAS App Received
24/05 BG Not Started
19/06 ECAS In Process
04/08 Travel History Request
20/08 Source of Fund Request
08/09 BG In Progress
10/09 ECAS Decision Made
14/09 PPR

My case was as common to most of us ie, Not enough money in the account few days back to application submission and then a sudden transfer of funds in the bank account and that account is shown as 'Proof of funds'. As you can see I got a 'Source of funds' request on August 20, 2015. I submitted following documents for the same:

1) An e-stamped affidavit (Article 4 Affidavit) citing my Father as Deponent about that big transaction via Cheque XXX dated XXX drawn on Bank XXX. Letter had my father's signature. This costed me Rs. 10.
2) An e-stamped Gift deed (Article 33 Gift) showing my father as Donor, me as a Donee. Also stating that these funds were out of his past savings, mentioning his PAN number and that he doesn't expect the money in return. Letter had me and my father's signature. This costed me Rs. 100.
3) Net-worth certificates of me, my father and my mother as on August 22, 2015, for the reason that my family hasn't exhausted all their savings to support me and that they can survive easily. This Net-worth certificate should be issued by a reputed Chartered Accountant on his letter-head. This costed me Rs. 500. CAs might demand more, but don't pay them more, choose another CA.
4) My Bank statement till August 22, 2015 showing the funds being untouched and only a large number of credits happening with very few debits.
5) I detailed LOE with all the transactions and explanation.

That means a maximum cost of Rs. 1000. You don't need to pay hefty amount and take the help of any consultancy for solving 'Source of funds' puzzle. Just include everything specific beforehand at the time of Application submission, so that they don't ask for Additional documents later (as they did in my case).

In a nut-shell here are what I suggest you submit at the time of AOR, to answer the questions of a sudden large transaction:
1) Gift Deed (Article 33 Gift)
2) An Affidavit (Article 4 Affidavit)
3) Net-worth certificates of your whole family from CA
4) Bank Statements showing all the transactions involved (Yes, include your father's bank account statement as well)

Note: No Notarization is necessary, since, you would be scanning and uploading original documents. Don't spend money on the lawyers roaming around in district courts for this.

I hope this would have helped. All the best to all the members here for their Canadian dream. I hope the best for all of you.

Hi Anuj,

I have a different query, I have received ITA in the last draw and I am yet to receive ECA report from WES. They promised me to give it some day back, before the invitation, but that didn't happen. So, I received the invitation without WES. Although, I mentioned the WES reference number with expected assessment results. I am expecting to receive ECA in next few days. So, should i consider to decline this invitation and get back in the pool and wait for next invitation or should i simply update my application status after getting ECA report and start focusing on submitting my further documents? Moreover, the basic query is that: Is this (WES report date is different and I received it after invitation) might be probable cause for rejection of documents at the later stages or not?

 

[harish21jun]

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

Hi DelPiero07,

Can I show only Canadian bank letter even if I am applying from India. I have all details in letter head but no seal or stamp.
Please let me know.

Thanks.

 

[DelPiero07]

Hi DelPiero07,

Can I show only Canadian bank letter even if I am applying from India. I have all details in letter head but no seal or stamp.
Please let me know.

Thanks.

Yes.

 

[harish21jun]

Yes.

Thank you.. +1

 

[patricia.hple]

Hi guys,

My situation is like this, I have enough fund, but it is all sitting in cash at my house.... My country's currency is not reliable, so every month I just withdrew and exchanged pretty much all my salary (which is paid in local currency through a bank account) into USD and kept this USD cash at home in a safe.

This is 100% my money because both of my parents have retired a long time ago. They don't have bank accounts.

Now I want to open a foreign currency account and deposit all the USD that I have into it (no way I would exchange back to local currency).

What kind of document would I need in this case in order to prove my fund?
Right now I'm thinking:
1. 6 month bank statement of the local-currency account where I receive my salary
2. Bank certificate to certify the final balance of both the local-currency account and the foreign-currency account (PR Fund)
3. Letter of explanation with the above explanation -- is this enough? Do you have any suggestion on how to strengthen the argument?

Thank you very much!

 

[Cann2017]

Hi All,

My wife is the Primary Applicant, so what are the documents required if funds are given by her father (as a gift) and balance funds is transferred from my account.

If is required to make it into FD.

kindly reply

 

[DelPiero07]

Hi All,

My wife is the Primary Applicant, so what are the documents required if funds are given by her father (as a gift) and balance funds is transferred from my account.

If is required to make it into FD.

kindly reply

Self-declaration from her father stating that the funds are a gift and not a loan + proof of transfer.