1. If you decide to get it transferred back you your account, you will have to prove that this is not a loan. You will need to prepare gift deed etc. Their is a separate thread which can help to with this.ziffyasif said:Hi guys,
I know this question has been asked again and again but just to ensure that my situation is not unique so I am asking few doubts about the settlement funds. If anyone can reiterate I would be very thankful.
I am from India and I received an Ontario nomination application invite on 4-Dec-15 with 410 CRS score and am preparing to apply. My savings accounts had more than enough funds required till the beginning of Oct 2015 but since I was not expecting any nomination and ITA seem to be a distant truth I decided to invest in property because of which my savings balance went down. Although my salary input in the account is good but it will still take around 4-5 months to replenish the required amount (CAD 18260) from 0. My savings account now has 1.8 lac and would get another 1.8 lac in Jan 2016 as salary. I have also withdrawn money from a mutual fund which should add another 1.76 lac to my salary account. I have some funds in my other bank account (around 1 lac) and some with my wife in her savings and FD (around 4.4 lac). I will have just enough money in these accounts in Dec 2015 (around 9.5 lac ~ CAD 19000). My queries are:
1. I had lent my brother around 1.5 lac during the last year as transfers to his account. Should I ask him to transfer it back now or it will complicate things?
2. Is it fine to show my wife's funds as she is shown as a dependent in my application or do I need some affidavits?
3. Should I wait till my next salary before sending the application so that the account balance increases further?
4. Would the reduction in my account balance be a cause of concern although the required amounts have been replenished?
All help will be appreciated
Regards,
Asif
2. You have 45 days to send your documents to Ontario. If you exclude 7 days of shipping, that leaves you with 38 days to prepare your documents. If you prepare all other documents before January and send everything well in time, you will be good to go. Try not to complicate your case.
3. Once you have sent the documents, make sure you maintain minimum POF until you receive PR.
In short, as long as you can prove that the sudden rush of money into your account is not a loan, you will be fine. Now it is upto you on how well you prove this fact. Good luck.