Gift Deed from a joint account

[theshred]

I have a joint account with both my parents. Tomorrow, I will create a separate bank account in my name only, and have my parents transfer me the whole amount (equivalent to 12.9K CAD).

I will get 6 months letter of the joint account, letter of my new account, a gift deed from my parents, and 6 months history of my salary account in another bank.

1. Is this legit?
2. Should I transfer the money to the older account (salary account in another bank) or is a new account okay?
3. does the gift deed have to be notarized even if all the money is in my name now?

 

[prkartik]

Hi
What is your score ?

1. yes.
2.New account is better.but still share older account statements with letter of explanation
3.Its better to get your gift deed Notarised.

 

[theshred]

Hi
What is your score ?

1. yes.
2.New account is better.but still share older account statements with letter of explanation
3.Its better to get your gift deed Notarised.

Hi thanks for the reply.

My score at the time of ITA was 481.

I hope you can help with this next dilemma I'm facing, I posted it in a thread and it is as such:

My country has enacted foreign currency control by which I can't convert any local currency into USD or CAD.

The only way to acquire USD is through the inflated black market price.

While my proof of funds has an enough amount in local currency to account for the inflated black market price of USD, will IRCC use the low official bank rate or will they use the inflated black market rate to do the conversions?

Do I have to explain the country's situation in an LOE?

 

[prkartik]

Hi ,

No need to buy forex currencies . You can show your home countries currrency and provide its equivalent amount in CAD.CIC wants to know whether you have readily available Cash not CAD.

 

[theshred]

Hi ,

No need to buy forex currencies . You can show your home countries currrency and provide its equivalent amount in CAD.CIC wants to know whether you have readily available Cash not CAD.

Thank you for confirming. This is what I will do.