Proof of Funds - Sponsorship?

[rainman400]

SO, I have this situation where I have the funds but they are all invested at this point. I didn't make the investments myself, I handed the money over to my father and he made the investments in his name (tax benefits and whatnot). Anyway, now I am trying to figure out what do I show as proof of funds? Can I just not have him show his account details and give a guarantee that he will pay for me if and when the time comes?

 

[visaowl]

Nopes, rainman. Those are not your funds because you transferred their ownership, and a guarantee is not enough for CIC.

 

[rainman400]

Fair enough, but then if I do get him to transfer the funds back to me, I won't have the funds in my account for 6 months technically. So, does that mean I am scr*wed? lol

 

[visaowl]

The problem is, if you get those funds back, in CIC eyes maybe it will be considered as being borrowed and raise a red flag. Unless you can prove it through cash flow that the previous loan that you gave to your father is being returned back to you. Another option is maybe second and third bullet points. But stocks are an iffy proof of solvency to use for CIC, I think they would want you to cash them.

These funds could be in the form of:

• cash
• documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.) or
• documents that guarantee payment of a set amount of money, which are payable to you (such as bankers' drafts, cheques, travellers' cheques or money orders).
  

 

[rainman400]

Yeah I was reading those points as well, although I feel that it's not for "proof" at the time of applying. That seems like its proof for when you actually enter Canada, because something like a Bankers draft has a validity for only 3 months. But, proving that I gave the funds to him and that they are being returned back should not be too hard I suppose. Is there any place I can contact them? I have been looking for a contact number and just can't find one lol.