Proof Of Funds for EE

[sureshlike]

Dear Experts, i hope you all well. i know it is unnecessary question but i have taken money from a friend into my account so in which sort of ways can i show proof of funds that money according to the law? plz suggest me ways so that i can start preparation for registration on EE. looking for your reply guys. Thanks in advance.

 

[luv2read90]

What do you mean by taken?

If taken means borrowed, then no - this money needs to wholly yours.
If taken means gift, then yes - you should get a gift deed from your friend to outline that this money is not expected to be repaid but given in good faith to help with your proof of funds requirement.

Please note if you haven't received an ITA and this money stays in your account for 6 months or more your average balance should be healthy and you wouldn't need to provide a gift deed or anything but the bank letter from your financial institution.

 

[sureshlike]

What do you mean by taken?

If taken means borrowed, then no - this money needs to wholly yours.
If taken means gift, then yes - you should get a gift deed from your friend to outline that this money is not expected to be repaid but given in good faith to help with your proof of funds requirement.

Please note if you haven't received an ITA and this money stays in your account for 6 months or more your average balance should be healthy and you wouldn't need to provide a gift deed or anything but the bank letter from your financial institution.

Thanks for replying, what do mean by bank letter...a bank statement or something written in a format??

 

[Advisor_PK]

Thanks for replying, what do mean by bank letter...a bank statement or something written in a format??

By bank statement he means a letter on bank letterhead with these details:
Account title
Account opening date
Current balance
Average balance over past 6 months or transactions over the last 6 months.

If your friend has given you the money, you should get an affidavit stating that this is a gift.

 

[vsanty12]

Hi Experts! I have a related question. I am about to submit my application for EE. For POF, I have sold my property in October 2016 and the proceeds of the sale were saved on a newly created US dollar account. This account is about 7 months old.

Will the bank letter be enough or I have to include a proof for the source of funds? thanks.

 

[Advisor_PK]

Hi Experts! I have a related question. I am about to submit my application for EE. For POF, I have sold my property in October 2016 and the proceeds of the sale were saved on a newly created US dollar account. This account is about 7 months old.

Will the bank letter be enough or I have to include a proof for the source of funds? thanks.

If the funds suddenly appeared in your bank in the last few weeks then they tend to get suspicious. I would include any documentation showing the proof of sale and explain the same in the LOE

 

[vsanty12]

If the funds suddenly appeared in your bank in the last few weeks then they tend to get suspicious. I would include any documentation showing the proof of sale and explain the same in the LOE

I guess it's safe to include the sale receipt and other documentation that prove the source the funds. thanks.

 

[sureshlike]

I guess it's safe to include the sale receipt and other documentation that prove the source the funds. thanks.

Yes it is. have just genuine proofs

 

[faraz2512]

I have a question regarding POF gift deed... I'll be providing the below letter with the mentioned documents. Let me know if this will be enough.

I Mr. XX father of Mr. XX(primary applicant) is giving my son money worth of XX. I have gifted this money from my personal bank account no. XX (bank name & branch) in the from of a bank transfer dated XX. This transaction was made directly into Mr. XX account.
I Mr. XX (father) is giving this money as a gift to cover all his expenses for Canadian immigration process and for helping him to settle in Canada in future.

Signed:
Passport #
Date:

Attached documents:
Bank Transfer slip
Copy of gift donor bank account statement. 6months
Copy of receiver bank account statement. 6months.

 

[noyoucant]

faraz2512 ,, do we also have to give gift donor 6 month bank statement ?? seniors help ??