Bank account

[tausifaibani]

Hello,
I was in United Kingdom and maintained funds in my UK bank account. But, soon I had to leave the country due to visa problems. Now 6 months later my UK bank is requesting me to close my account and transfer funds. On the other hand, my Canadian PR application is still under process and it has exceeded 6 months average processing time. Please suggest best possible way to hold my funds so that it does not affect my PR application.

 

[21Goose]

Open a bank account in your country of residence/citizenship and simply transfer your funds there?

 

[tausifaibani]

Will this delay my application? There won’t be any issues if I have two different addresses

 

[21Goose]

Will this delay my application? There won’t be any issues if I have two different addresses

No, this shouldn't have an impact on your application as long as the funds are moved to your own personal account (not a joint account or something like that).

If IRCC asks, you explain what happened. This is a reasonable explanation - you have to close your UK account, there's nothing you can do there.

 

[tausifaibani]

Thank you for your quick response. Is it ok If open a new bank account and transfer my funds? I should go for a NRI account and hold my funds in GBP or I can just transfer funds to normal INR account? or any of these will do?

 

[21Goose]

Thank you for your quick response. Is it ok If open a new bank account and transfer my funds? I should go for a NRI account and hold my funds in GBP or I can just transfer funds to normal INR account? or any of these will do?

IRCC won't care about that. You just need to show that you have settlement funds. The currency is not important.

Obviously you should follow any local laws around transferring money etc.

 

[tausifaibani]

Is it ok if I take loan from my mother to maintain funds and transfer funds from my UK account to my brother who already lives in Canada? I just want to avoid moving funds all over the world. However, I will do it if necessary.

 

[21Goose]

Is it ok if I take loan from my mother to maintain funds and transfer funds from my UK account to my brother who already lives in Canada? I just want to avoid moving funds all over the world. However, I will do it if necessary.

No, that's not ok. You will raise all sorts of questions if you start involving someone else's money. You can't take a loan to show settlement funds.

Keep things simple and keep the money in an account that you have sole control over. Do NOT mix it with anyone else's money (even family).

It's not that hard to do a wire transfer from the UK to India. And once you have your PR, you can do a wire transfer to your new account in Canada.

 

[tausifaibani]

Thanks a lot for your help

 

[Mama mia]

Yes