Canada PR - Proof of funds

[Prasiddhi]

Hi,

I have received my ITA and am gathering the necessary documents to complete my application.

I understand we need to provide 6 months bank details as part of our proof of fund. I had lent a sum of about 7,700 CAD (Equivalent in INR) to my dad for a family emergency from one of my bank accounts (Let's say bank account A) and later in March he returned that with an additional 4,000 CAD (to a different bank account of mine, let's say bank account B) to meet my minimum funds needed for the PR application. Given that now all my funds are in my bank 'B' which has a huge balance fluctuation in March, how do I go ahead with this?

Should I show my Bank account details (Bank account A) from which I transferred the money to my dad and also all his bank transactions and then show the difference as a gift deed? My dad transferred the amounts from 3 different bank accounts of his to my bank account B in March.

Though there is a lot of flow of money across various accounts (held by my dad and me) all the transactions were legitimate and within the family. How do I document this?

Thank you in advance!

 

[letsgo_canada]

Hi,

I have received my ITA and am gathering the necessary documents to complete my application.

I understand we need to provide 6 months bank details as part of our proof of fund. I had lent a sum of about 7,700 CAD (Equivalent in INR) to my dad for a family emergency from one of my bank accounts (Let's say bank account A) and later in March he returned that with an additional 4,000 CAD (to a different bank account of mine, let's say bank account B) to meet my minimum funds needed for the PR application. Given that now all my funds are in my bank 'B' which has a huge balance fluctuation in March, how do I go ahead with this?

Should I show my Bank account details (Bank account A) from which I transferred the money to my dad and also all his bank transactions and then show the difference as a gift deed? My dad transferred the amounts from 3 different bank accounts of his to my bank account B in March.

Though there is a lot of flow of money across various accounts (held by my dad and me) all the transactions were legitimate and within the family. How do I document this?

Thank you in advance!

@Experts : Please Advise..

 

[Green Stone]

Hi,

I have received my ITA and am gathering the necessary documents to complete my application.

I understand we need to provide 6 months bank details as part of our proof of fund. I had lent a sum of about 7,700 CAD (Equivalent in INR) to my dad for a family emergency from one of my bank accounts (Let's say bank account A) and later in March he returned that with an additional 4,000 CAD (to a different bank account of mine, let's say bank account B) to meet my minimum funds needed for the PR application. Given that now all my funds are in my bank 'B' which has a huge balance fluctuation in March, how do I go ahead with this?

Should I show my Bank account details (Bank account A) from which I transferred the money to my dad and also all his bank transactions and then show the difference as a gift deed? My dad transferred the amounts from 3 different bank accounts of his to my bank account B in March.

Though there is a lot of flow of money across various accounts (held by my dad and me) all the transactions were legitimate and within the family. How do I document this?

Thank you in advance!

just make a balance certificate from your main account (B) and submit it. Before this how much balance in your account B ?

 

[Prasiddhi]

just make a balance certificate from your main account (B) and submit it. Before this how much balance in your account B ?

Before March, account B balance was about 1,000 CAD. As I'll have to show account details from the last 6 months, there is a huge change in the account balance in the month of March, which without proper documentation might seem suspicious.

 

[thestunner316]

Before March, account B balance was about 1,000 CAD. As I'll have to show account details from the last 6 months, there is a huge change in the account balance in the month of March, which without proper documentation might seem suspicious.

there are 2 ways to go about this

1 - write an LoE explaining the situation, and I would provide bank statements for both your account and your fathers account to be on the safe side to validate your story.
2 - a better solution would be to gather all the documents in the meanwhile (PCC, job letters etc) and wait till september mid before you add bank statements and submit your application. that way the transaction of whatever amount your dad put back in your account wont show up in the last 6 months statement... personally i would go with this option, but its entirely upto you how you want to go about it.

 

[pursuit_of_happiness]

I have aquestion regarding using joint account with my father as proof of funds.

I understand that i can't use this joint account but, is it alright to get a gift deed from my father and still use the statement from this account?

or do i need to transfer this money to an account which is solely on my name as a gift deed?