Our Bank Balance is(CD:29k) is matured only a month,and I might get ITA in 20 days

[Bhoomi12]

Hi,
We have enough mutual fund money[MATURED: MORE THAN AN YEAR] to show it to the Canadian Government

But one of our friend said, the money should be either as FD(Fixed Deposit)/ working Bank account , so we have taken money from our parents and transferred to our account, but it's only been 25 days for that.

And we are expecting our ITA to be received in this month

1.)So should I Wait for some more days to file for PR?, Like we get 90 days to apply, Can I apply on like 80th day?
2.)Is the bank balance has to be matured(untouched) for 4 months/6 months ?

 

[jpv2212]

Hi,
We have enough mutual fund money[MATURED: MORE THAN AN YEAR] to show it to the Canadian Government

But one of our friend said, the money should be either as FD(Fixed Deposit)/ working Bank account , so we have taken money from our parents and transferred to our account, but it's only been 25 days for that.

And we are expecting our ITA to be received in this month

1.)So should I Wait for some more days to file for PR?, Like we get 90 days to apply, Can I apply on like 80th day?
2.)Is the bank balance has to be matured(untouched) for 4 months/6 months ?

1) You CAN apply on the 89th day also!
But it's way too risky.

I guess mutual funds are not valid to show as PoF, since they are subject to market risks. So, only valid options as POF will be liquid money, which you can convert to cash or use it at once when needed. However, it's my opinion, I'm not sure on this.

2) I don't have idea about this, but you have another option in my opinion.
You said your parents transferred money to your account. Then you should get a gift deed done from your parent. It's a valid proof.

 

[Bhoomi12]

Okay , so gift dead is kinda affidavit ? which needs to be shown is it ???

 

[jpv2212]

Okay , so gift dead is kinda affidavit ? which needs to be shown is it ???

Gift deed is a notarised version similar to affidavit, made in front of a notary.
You should consult a notary. He'll have all this done for you.

 

[Bhoomi12]

Gift deed is a notarised version similar to affidavit, made in front of a notary.
You should consult a notary. He'll have all this done for you.

Thanks a lot