+1(514) 937-9445 or Toll-free (Canada & US) +1 (888) 947-9445

Gift deed for money transfer between canadian banks

ParomitaK

Newbie
Sep 25, 2018
2
0
Hi,
I have applied for PR and have received the Invitation Letter on September 19th. I completed my masters in Canada and have been working since January (not LMIA approved) this year. I have completed 2 years in Canada.

I will be showing an amount of 13500 CADs in my Canadian bank account. To help me show this amount, my sister transferred an amount of around 7500 CADs to my Canadian bank account (CIBC) from her Canadian bank account (Scotia bank) in the month of August. She is studying in Canada currently.

I know that I would need a gift deed from my sister to explain the sudden money transfer but I am not sure how this thing works for Canadian banks. There are multiple gift deed formats when I google but its all related to transfers from Indian banks. I am not sure if that works in Canada.

Can any of you please explain what I need to do to explain the money transfer? Should I just have a statement from my sister saying it is a gift and just notarize it like have her sign before a notary? Or what should I do?

Please help.

Thanks,
Paromita