Hi,
Here is my scenario:-
My partner (dependent) and I (principal applicant) need to show the proof of funds for our application. Our parents are giving us the money to help settle in Canada.
My partner and I are living in New Zealand and our parents are in India.
My mother is getting a Fixed Deposit done for us for about six months (so that we can en-cash it when we are leaving for Canada) in India on her name with me being the nominee so I become entitled to receive the funds. She is getting it done on her name because I won't be in India so she won't be able to en-cash it without me being physically present in the country.
Therefore, she is getting it done on her name and making me the nominee and has agreed to sign a gift deed that I can use those funds when coming to Canada and that money won't be a loan.
My mother is doing this for upto $12,000.
The rest of the amount will be given by my partner's mother. She is planning to do a similar thing making my partner the nominee on her fixed deposit and is willing to sign a similar affidavit.
P.S. - I do not want to send them the money to us in New Zealand because may partner and I will be getting some bonus, provident fund and other benefits before leaving for Canada which will make up for the amount my partner and I need to take with us. And then when the need be, our parents can transfer the money from those fixed deposits into our Canadian accounts after we have moved to Canada.
My questions are:
1) Will the fixed deposits in our parents name and us being the nominee be acceptable to CIC?
2) I will have upto $12,000 on my name and rest on my partner's name. Will it be an issue?
3) Will it be a problem that the fixed deposits are being made in a different country than our residence country? We are still citizens of India, but residing outside India.
4) Is the duration of fixed deposits being six months alright or needs to be increased or decreased?
Please advise. It will be really helpful.
Thank You in Advance.
Here is my scenario:-
My partner (dependent) and I (principal applicant) need to show the proof of funds for our application. Our parents are giving us the money to help settle in Canada.
My partner and I are living in New Zealand and our parents are in India.
My mother is getting a Fixed Deposit done for us for about six months (so that we can en-cash it when we are leaving for Canada) in India on her name with me being the nominee so I become entitled to receive the funds. She is getting it done on her name because I won't be in India so she won't be able to en-cash it without me being physically present in the country.
Therefore, she is getting it done on her name and making me the nominee and has agreed to sign a gift deed that I can use those funds when coming to Canada and that money won't be a loan.
My mother is doing this for upto $12,000.
The rest of the amount will be given by my partner's mother. She is planning to do a similar thing making my partner the nominee on her fixed deposit and is willing to sign a similar affidavit.
P.S. - I do not want to send them the money to us in New Zealand because may partner and I will be getting some bonus, provident fund and other benefits before leaving for Canada which will make up for the amount my partner and I need to take with us. And then when the need be, our parents can transfer the money from those fixed deposits into our Canadian accounts after we have moved to Canada.
My questions are:
1) Will the fixed deposits in our parents name and us being the nominee be acceptable to CIC?
2) I will have upto $12,000 on my name and rest on my partner's name. Will it be an issue?
3) Will it be a problem that the fixed deposits are being made in a different country than our residence country? We are still citizens of India, but residing outside India.
4) Is the duration of fixed deposits being six months alright or needs to be increased or decreased?
Please advise. It will be really helpful.
Thank You in Advance.
