ONIP or express entry funds required

[ibk]

Is it legal to borrow money from my uncle or brother from a foreign country for ONIP or express entry?
I need to show 12000 CAD in my account

 

[istari]

No, it is not.
The money must be yours. If the money comes from a relative, they must provide a gift deed which states that the money is a gift, not a loan, and that you are not required to return the money at any time in the future.

 

[ibk]

Should I have to show that its a gift on a notarized copy from my home country?

 

[Stanlee]

Should I have to show that its a gift on a notarized copy from my home country?

Yes, Gift Deed should be on.stamp paper duly notarized by Public Notary and it should be executed by donor and donee in the presence of two witnesses. Refer to the legal formalities of your country.

 

[ibk]

I am from India, Can u plz tell me what are the legal formalities?

 

[Stanlee]

I am from India, Can u plz tell me what are the legal formalities?

Get the Gift Deed executed on INR 100 stamp paper in addition to what I mentioned above.

 

[ibk]

Currently I am living in Canada, Should I have to sign the document or my uncle's signature is enough??
Just to make sure Donor is my uncle and donee is myself, is that right??

 

[Stanlee]

Currently I am living in Canada, Should I have to sign the document or my uncle's signature is enough??
Just to make sure Donor is my uncle and donee is myself, is that right??

Ideally both of you have to sign. Yes, donor is your uncle and donee is you. Check out online if you find any formats where only the donor had to sign.

 

[ibk]

Stanlee
If I am taking money from my father or brother Do i have to do the same notorized document?

 

[Stanlee]

Stanlee
If I am taking money from my father or brother Do i have to do the same notorized document?

Yes

 

[Wolverine17]

Yes

I believe if he took the money and kept them in his account for at least 6 months he wont have any issues.

 

[Stanlee]

I believe if he took the money and kept them in his account for at least 6 months he wont have any issues.

Yeah, in that case it is OK.

 

[Wolverine17]

Yeah, in that case it is OK.

Am wondering do they look upto loan history or something or only the pof that you provide

 

[Stanlee]

Am wondering do they look upto loan history or something or only the pof that you provide

Unless you provide them information regarding your loan, they will not be able to access any information related to your account.

 

[ibk]

Stanlee
Is it better to put money in my indian bank account and show them the bank statement??
I had good amount of money two years ago, should I show them the two years bank statrment??