Can I show deposit accounts jointly owned by me and my mother for funds proof?

[admodi86]

This is for Ontario Nomination application package.

 

[StAnger]

This is for Ontario Nomination application package.

In my opinion, Yes but you will also need a letter of consent from co-holder that you are free to use these funds as you wish.

The joint holder can give the consent to use the funds lying in the aforesaid bank account towards any obligation.

Someone with successful application in this case and advise.

 

[Harsimran05]

Hi This is Harsimran.
We got our ITA on 18th DEC.
My wife is the primary applicant in this process.
My wife nd my father has joint account with all the required funds to be shown. Is this possible to show these statements as Proof of Funds????

Secondly if I get the funds transferred to my account and the written statement from my Father that he has transferred these funds to my account and he does not want it back, then in this case can I show my Statements as Proof of Funds as I am coming along with my wife.

Please Advise.

 

[ibejiopad]

Hi This is Harsimran.
We got our ITA on 18th DEC.
My wife is the primary applicant in this process.
My wife nd my father has joint account with all the required funds to be shown. Is this possible to show these statements as Proof of Funds????

Secondly if I get the funds transferred to my account and the written statement from my Father that he has transferred these funds to my account and he does not want it back, then in this case can I show my Statements as Proof of Funds as I am coming along with my wife.

Please Advise.

I would say "No" to both instances. It is highly recommended that the POF be in the principal applicant's name; in the case, your wife. What I think may be feasible is --that your wife's mum transfer the required funds to your wife's personal account. This would require a number of documents as support document, e.g Gift dead, affidavit, both account statements, etc.

Modified

In view of STanger's superior opinion below, option 1 seems ideal, however, option 2 is a no no as you are not principal applicant.

 

[StAnger]

I would say "No" to both instances. It is highly recommended that the POF be in the principal applicant's name; in the case, your wife. What I think may be feasible is --that your wife's mum transfer the required funds to your wife's personal account. This would require a number of documents as support document, e.g Gift dead, affidavit, both account statements, etc.

Is this a fact that if the PA has a joint account with someone other than his spouse, he /she cannot show it as POf. I thought a letter of consent should suffice!!!

I would like to know this for a fact so that the above two applicants are guided correctly. Thanks.

 

[manpreetdhindsa15]

In My opinion StAnger is correct, a letter/affidavit of consent should suffice.

@Asivad
Your advise please.

 

[rafzy]

This is for Ontario Nomination application package.

I submitted my POF of fixed deposit account both on my and my father name with my oinp application and it has been accepted by them as i have been issued with an aor.

You will need to attach a conscent paper acknowledged by your co-account holder that they have no problem accessing yhis money and you are free to use this entire money as per your wishes.

 

[Harsimran05]

Thanks for the Reply.
But I got to know that if Funds are in Spouse/Common Law Partner Account who is accompanying with the primary applicant, can show his/her statements as POF.
And an Affidavit (which states the consent) from the person who is transferring funds to my account will do.

Below are the details which I got.

Acceptable proof of funds are:

-bank accounts in your name or the name of your accompanying spouse/common-law partner;

-cashable investments in your name or the name of your accompanying spouse/common-law partner;

-cashable fixed deposits in your name of the name of your accompanying spouse/common-law partner.



Not acceptable are:

-bank accounts in someone else's name;

-bank accounts which are joint in your name and someone else (other than your accompanying spouse/common-law partner);

-bank accounts in the name of your spouse who is not accompanying you to Canada ;

-property valuations;

-vehicle valuations;

-jewellery valuations.



You are not required to carry your funds in cash when you arrive in Canada. You are, however, required to show documentary evidence that you have the funds available (in bank accounts or cashable investments), and that they can be transferred to Canada.

 

[ibejiopad]

Is this a fact that if the PA has a joint account with someone other than his spouse, he /she cannot show it as POf. I thought a letter of consent should suffice!!!

I would like to know this for a fact so that the above two applicants are guided correctly. Thanks.

Not sure how the consent letter works, however, if there has been a successful precedent; I believe your advice would be ideal for them

 

[Asivad Anac]

Thanks for the Reply.
But I got to know that if Funds are in Spouse/Common Law Partner Account who is accompanying with the primary applicant, can show his/her statements as POF.
And an Affidavit (which states the consent) from the person who is transferring funds to my account will do.

Below are the details which I got.

Acceptable proof of funds are:

-bank accounts in your name or the name of your accompanying spouse/common-law partner;

-cashable investments in your name or the name of your accompanying spouse/common-law partner;

-cashable fixed deposits in your name of the name of your accompanying spouse/common-law partner.



Not acceptable are:

-bank accounts in someone else's name;

-bank accounts which are joint in your name and someone else (other than your accompanying spouse/common-law partner);

-bank accounts in the name of your spouse who is not accompanying you to Canada ;

-property valuations;

-vehicle valuations;

-jewellery valuations.



You are not required to carry your funds in cash when you arrive in Canada. You are, however, required to show documentary evidence that you have the funds available (in bank accounts or cashable investments), and that they can be transferred to Canada.

I know that this information is available on a 3rd party website (fsw2014.info) and also that this information is slightly dated. Do you have a recent CIC link for this information?

 

[Harsimran05]

Then please let me know what should be the exact acceptance criteria either from this dated info or the latest because I need to collect docs for the same only, rest all are completed.

 

[forcanada]

I would say "No" to both instances. It is highly recommended that the POF be in the principal applicant's name; in the case, your wife. What I think may be feasible is --that your wife's mum transfer the required funds to your wife's personal account. This would require a number of documents as support document, e.g Gift dead, affidavit, both account statements, etc.

Modified

In view of STanger's superior opinion below, option 1 seems ideal, however, option 2 is a no no as you are not principal applicant.

Hi
Are these documents (gift deed, affidavit,etc.) need to be notarized?

 

[StAnger]

Hi
Are these documents (gift deed, affidavit,etc.) need to be notarized?

These documents are prepared from notary and they will have all necessary stamps as its part of being an affidavit.

 

[rafzy]

Hi
Are these documents (gift deed, affidavit,etc.) need to be notarized?

No need to prepare these documents with notary. Just write them on a plain piece of paper or print them using computer with all the details and you are good to go for both OINP and CIC.

 

[forcanada]

No need to prepare these documents with notary. Just write them on a plain piece of paper or print them using computer with all the details and you are good to go for both OINP and CIC.

I don't know who is right, you or stAnger