Gold Selling To a Person POF (Critical)(Urgent!!!!)

[hhhotz]

I have sold gold to a friend of mine and got money in the bank account. I put it as a proof of fund.transaction was only 1 month old. My application is under progress.Medical is passed.

How do I show source of fund. I do not have selling receipt as I sold to an individual.

Or I should cancel my application and put it in the pool again.

please guide me. I have to make an urgent decision.

 

[Wbr90]

I have sold gold to a friend of mine and got money in the bank account. I put it as a proof of fund.transaction was only 1 month old. My application is under progress.Medical is passed.

How do I show source of fund. I do not have selling receipt as I sold to an individual.

Or I should cancel my application and put it in the pool again.

please guide me. I have to make an urgent decision.

If you already have submitted application, you must have submited proof of funds with application, and if that is the case, you now next have to show proof of funds on you landing to Canada as PR. Not before that.

But again, that depends on your application status, if the VO requires you to submit a fresh copy of proof of funds at any stage of application, they hold the right to ask.

 

[hhhotz]

If you already have submitted application, you must have submited proof of funds with application, and if that is the case, you now next have to show proof of funds on you landing to Canada as PR. Not before that.

But again, that depends on your application status, if the VO requires you to submit a fresh copy of proof of funds at any stage of application, they hold the right to ask.

I have submited proof of funds . I am worried about source of funds. What do I show as source of fund.

 

[NikSharma01]

Hey there,

I believe the amount was considerably large. FYI, Any such sudden big credits in your primary bank account within a period of 6 months needs to be justified with the relevant sources, in order to validate the funds genuinely.

You could have explained your scenario in the LOE with a formal explanation that the respective funds were obtained by selling some assets (the gold) to an individual as per the market value at that time and supported this claim with a duly notarized "Affidavit" declared by your friend, along with the respective "Bank A/c Statements (highlighted)" from/to which the funds were transfered. This would have been suffice as the POF.

Unfortunately, as you were failed to demonstrate the suddenly deposited funds in your account, so you should be expecting an ADR anytime. In that case, you should be prepared beforehand and get the docs done accordingly. So that you could submit the same whenever you're approached for the clarification over this thing. This is the only possible option available which can be done in a legal way.

 

[dotslash227]

When you receive large funds in last 6 months, you need to provide explanation on the source of funds. The IRCC wants to know whether your funds are borrowed or not or are not have been obtained illegally.

Selling possessions to obtain the POF is not wrong and neither illegal. However, when you sell, you issue invoice and a receipt when you get the money.

As NikSharma01 pointed out, you need to get a notarised affidavit from your friend, along with his statements, certifying that he 'bought' the gold from you.

 

[hhhotz]

When you receive large funds in last 6 months, you need to provide explanation on the source of funds. The IRCC wants to know whether your funds are borrowed or not or are not have been obtained illegally.

Selling possessions to obtain the POF is not wrong and neither illegal. However, when you sell, you issue invoice and a receipt when you get the money.

As NikSharma01 pointed out, you need to get a notarised affidavit from your friend, along with his statements, certifying that he 'bought' the gold from you.

I can get the affidavit but how do I get the invoice ? because he is an individual not the business entity. I am also not the business entity. So there is no invoicing involved.

 

[dotslash227]

I can get the affidavit but how do I get the invoice ? because he is an individual not the business entity. I am also not the business entity. So there is no invoicing involved.

In this case, you cannot get an invoice. You will have to get an affidavit from the buyer along with a copy of his statement, showing the transaction.

Btw, you should always buy and sell gold to/from authorised retailers, they will always provide you with concrete paperwork.