Proof of funds,money will be given by my father

[vijay.k]

Hello All,

For the Proof Of Funds, my father will give the money by june end.So, for how many months I need to show the POF in bank account.Can I show it for 1 month in my account and then apply for PR?How does it work exactly??

Thanks in advance.

 

[anoop_satheesh]

You may show this fund as gift deed by notarizing. It does not mandatory requires 6 months or so in your bank.

 

[ishq74]

Hello All,

For the Proof Of Funds, my father will give the money by june end.So, for how many months I need to show the POF in bank account.Can I show it for 1 month in my account and then apply for PR?How does it work exactly??

Thanks in advance.

Your fund can be one day old it doesn't matter, as long as you can prove the source of the fund! The six month average balance criteria mentioned in the IRCC website is to check whether you have borrowed the money or not. If some has no money for five months but get the required money in the sixth month then his 6 month average balance would be significantly low. Which indicates the money may be borrowed by the applicant.

You can overcome this criteria by proving the source of the fund i.e asset sales receipt, gift deed.

If your father give you the money as gift, NOT a loan then you can transfer the money in your account and show your bank statement to prove the transaction. However you also need the mandatory letter from the bank as per IRCC guidelines. You need to get a notarized gift deed signed by your father(as a doner) and you(as a donee). You do not need to show your father's bank statement. Just mention the cheque number on the gift deed. Also do not forget to write a nice Letter of Explanation (LoE).

Good Luck!

 

[Elenyan]

It is better to also provide the transaction receipt. I don't know which country the transfer came from, but unless it is Canada or US, I would not just put the cheque number. What about the rest, I did exactly like ishq74 described. I didn't provide and 6-month statement. Just the general statement citing all my accounts, the paper that said I have no debts, the detailed statement for the account my parents sent the funds to (it was like one week old), the notarized gift deed and the transaction receipt.