How critical is to store money in the bank for proof of funds?

[LanaS]

Can anyone advise on my case?
While creating an EE profile I declared that I am going to bring with me around 12000 CAD (a minimum funds required). A day before creating the profile I have made a notarised agreement with my parents gifting me the mentioned sum. I live in Ukraine where financial situation is not favorable for investing money into banks (few of them have already been announced as bankrupts). Moreover, there is a currency restriction in Ukraine which means you cannot withdraw more than 600 dollars per day from your account. I cannot trust my money to banks, therefore I prefer to keep my money in cash like majority of Ukrainians...It appears that except of the document confirming the origin of the funds (notarised gift agreement), I have no other proofs to provide. Is it acceptable to show statements for a shorter period? Shout out to all experienced and having a similar problem - how you guys tackled it?

 

[Anya654]

Can anyone advise on my case?
While creating an EE profile I declared that I am going to bring with me around 12000 CAD (a minimum funds required). A day before creating the profile I have made a notarised agreement with my parents gifting me the mentioned sum. I live in Ukraine where financial situation is not favorable for investing money into banks (few of them have already been announced as bankrupts). Moreover, there is a currency restriction in Ukraine which means you cannot withdraw more than 600 dollars per day from your account. I cannot trust my money to banks, therefore I prefer to keep my money in cash like majority of Ukrainians...It appears that except of the document confirming the origin of the funds (notarised gift agreement), I have no other proofs to provide. Is it acceptable to show statements for a shorter period? Shout out to all experienced and having a similar problem - how you guys tackled it?

If you keep the money as cash in hand then how are you going to prove to CIC that you have the money?

 

[LanaS]

My apologies, I guess I misled you with the topic. I just need to know if it would be acceptable to make a written statement explaining why I keep my funds in cash, providing a notarised gift agreement (explaining the origin of the money)? Or, as an alternative, to provide bank statements for shorter period than 6 months?

 

[YamPower]

My apologies, I guess I misled you with the topic. I just need to know if it would be acceptable to make a written statement explaining why I keep my funds in cash, providing a notarised gift agreement (explaining the origin of the money)? Or, as an alternative, to provide bank statements for shorter period than 6 months?

Given the situation in your country it doesn't sound like you have much choice than to do what you plan to do. Maybe you could try to find another Ukrainian EE applicant to see what he/she did.

 

[neutral]

Can anyone advise on my case?
While creating an EE profile I declared that I am going to bring with me around 12000 CAD (a minimum funds required). A day before creating the profile I have made a notarised agreement with my parents gifting me the mentioned sum. I live in Ukraine where financial situation is not favorable for investing money into banks (few of them have already been announced as bankrupts). Moreover, there is a currency restriction in Ukraine which means you cannot withdraw more than 600 dollars per day from your account. I cannot trust my money to banks, therefore I prefer to keep my money in cash like majority of Ukrainians...It appears that except of the document confirming the origin of the funds (notarised gift agreement), I have no other proofs to provide. Is it acceptable to show statements for a shorter period? Shout out to all experienced and having a similar problem - how you guys tackled it?

Do you have friends/family in Canada?

If yes, they can just give you a check in your name for $12,000 CAD and that's it. When I immigrated to Canada, I brought a $10,000 check in my name as proof of funds. The officer say it, wirte down some information like bank, number, etc and that's it.

 

[neutral]

Do you have friends/family in Canada?

If yes, they can just give you a check in your name for $12,000 CAD and that's it. When I immigrated to Canada, I brought a $10,000 check in my name as proof of funds. The officer saw it, wrote down some information like bank, number, etc and that's it.