Hi,
I have (not so recently) received my ITA for the Express Entry. Although I have all my documents in place, I just have a few doubts on my Proof of Funds.
I have 2 bank accounts (one is a salary account that I have been using for the last 5 years. and the other one was a salary account which later got converted to a savings account which I am using for the last 3 years.)
In both these accounts I am the only owner with no nominee. However, in both these accounts I don't have funds sufficient enough which would meet the minimum threshold of funds required.
However, I have another account where I am the primary owner of the account and my mother is a nominee. Basically it is a joint account. This account has sufficient funds.
Apart from this I also have Fixed Deposits (FD's) which are again joint with my mother.
My plan was to transfer all of that fund in one of my sole ownership accounts. But turns out that it doesn't work that way (as mentioned by a friend who has already gone to Canada via the Express Entry Program).
His suggestion was to transfer the funds in one of my accounts and get a gift deed done between my mother and me.
Another suggestion was an NOC letter from my mother (notarized/attested) which would state that even if we have a joint account, she gives me complete permission to access the funds the way I want to.
I really don't know how to go about this mess and make sure that my application doesn't get red flagged after coming so far.
Can someone please guide me through?
Best,
Shaunaq Kulkarni- India
I have (not so recently) received my ITA for the Express Entry. Although I have all my documents in place, I just have a few doubts on my Proof of Funds.
I have 2 bank accounts (one is a salary account that I have been using for the last 5 years. and the other one was a salary account which later got converted to a savings account which I am using for the last 3 years.)
In both these accounts I am the only owner with no nominee. However, in both these accounts I don't have funds sufficient enough which would meet the minimum threshold of funds required.
However, I have another account where I am the primary owner of the account and my mother is a nominee. Basically it is a joint account. This account has sufficient funds.
Apart from this I also have Fixed Deposits (FD's) which are again joint with my mother.
My plan was to transfer all of that fund in one of my sole ownership accounts. But turns out that it doesn't work that way (as mentioned by a friend who has already gone to Canada via the Express Entry Program).
His suggestion was to transfer the funds in one of my accounts and get a gift deed done between my mother and me.
Another suggestion was an NOC letter from my mother (notarized/attested) which would state that even if we have a joint account, she gives me complete permission to access the funds the way I want to.
I really don't know how to go about this mess and make sure that my application doesn't get red flagged after coming so far.
Can someone please guide me through?
Best,
Shaunaq Kulkarni- India
