Thanks a lot. sorry for asking so many questions. I transferred 3500 to my friend two days ago and he said he would transfer me back this week. otherwise I don't have 8000 dollars. should I explain this saying I lend the money to my friend and he pay me back. the e transfer will state the name. thank you so much.
Proof of Funds (Express Entry)
- Thread starter ThisIsHoof
- Start date
Yes, explain the transfer in a LOE and show when the funds were credited and debited from and to your account (bank statements should do the job).
He called me and said he would write me a check then I can deposit in my account. I can make a photo copy of the check and show it to the government. Do you think cheque is better? thank you !!!!
No issue as long as you can explain the reason for such discrepancy (gift deed, sale of assets, money saved from salary, etc).
DelPiero07, please!!, I am really really lost. Here is some facts to give some context:
1) I received NOI from Ontario 2 weeks ago.
2) On April 2017 my brother (who lives in Canada but was here visiting at that time) gifted to me half of the required funds.
3) The deposit was made by check from a local bank here in my country.
4) OINP ask for 6 month bank statements. (They are gonna see that I got 50% of my funds 2 months ago)
Do I need a gift deed? If so, How my brother is gonna make it notarized? or is just enough to sign it by him and that's it?
I assume that you cannot notarize a document in Canada that state something that happened in other country.
Do I require a gift deed for OINP or it is just for ITA stage?
Please help me out!!
Thank you all
Prats6
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Yes, you would need a gift deed (which itself is a notarized document). As long as you can prove you do not have to return these funds to anyone, you are fine.
I'm not an expert, but it is always better to get the amount from your blood relatives (if at all you are getting it as a gift).
So a workaround could be that, your father in law would transfer it to your father/brother/mother and get that from them into your account and get a gift deed. CIC expects that whichever money you are getting into your account is solely yours and you don't have to pay someone back. And gift amount from in-laws is not recommended (I guess... I'm not very sure).
Hope this helps.
I have a Fixed Deposit to show as Proof of Fund and supporting documents for source of this fund. But I have dues in my credit card which I am paying every month as installment. Though I will not attach my credit card statements, would OINP get to know about this via CIB report from central bank? Would OINP count this as debt/liability against Proof of Fund?
Even if CIC does find out about your liabilities...make sure that the debt you have and the installment you are paying not make a significant difference in the amount you own... for example : if you own 100 and your liabilities are >50..then there is no point in showing the proof of funds... hope you get my point..
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