Advise needed.
I have my funds ready in my hand in the form of cash. And I am going to open a new account next week for the purpose of Immigration.
1. Is it fine to open new account and put the cash in bank and make the gift deed. May be I get ITA say in February then I wont be able to show 6 month Statement.
2. I have a monthly rental income from a property which is on my name if i keep putting that in the same account every month and then withdraw it as need.
3. I also have rental income from an other property which is not on my name but as a gift from my brother i get the monthly rental income - how to explain this to CIC.
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I got the below reply form another member but still have few more queries.
1. What is the source of this funds? You will have to prove that it did not originate from a loan. If you cannot prove the source, then deposit the funds into your parents or siblings account and get it transferred to your account and then get a gift deed for the same.
2. Is the rental income deposited to your bank account by the tenant or do you collect cash? Do you have proof to show that you have a rental income?
3. Again as explained in the above two points, explaining to CIC the source of cash especially if you do not have any proof for the same would be difficult (however legitimate the source may be). The idea is to leave an electronic trace looks more genuine than cash deposits. This way the gift deed and proof of transfer along with bank sttaments would help as proof of funds.
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The fund is from my Father in form of cash and He will make gift deed for me.
Yes, I have rental agreement to show and the property documents in my name will this be enough?
For second case. Have rental agreement for this also is in place but the property is not in my name.
So will some kind of undertaking from my brother that he by his free will have given me Authority to take the rental income and use for my self
Bank transfer will cost me 6% fee, if my father transfer one short from his bank into my account, which is a lot of money. For this very reason I got cash in my hand.
So if He transfer in small quantities for say 2k CAD$ per check/per day and then make the gift deed. will this activity look suspicious?
I have my funds ready in my hand in the form of cash. And I am going to open a new account next week for the purpose of Immigration.
1. Is it fine to open new account and put the cash in bank and make the gift deed. May be I get ITA say in February then I wont be able to show 6 month Statement.
2. I have a monthly rental income from a property which is on my name if i keep putting that in the same account every month and then withdraw it as need.
3. I also have rental income from an other property which is not on my name but as a gift from my brother i get the monthly rental income - how to explain this to CIC.
_____________________
I got the below reply form another member but still have few more queries.
1. What is the source of this funds? You will have to prove that it did not originate from a loan. If you cannot prove the source, then deposit the funds into your parents or siblings account and get it transferred to your account and then get a gift deed for the same.
2. Is the rental income deposited to your bank account by the tenant or do you collect cash? Do you have proof to show that you have a rental income?
3. Again as explained in the above two points, explaining to CIC the source of cash especially if you do not have any proof for the same would be difficult (however legitimate the source may be). The idea is to leave an electronic trace looks more genuine than cash deposits. This way the gift deed and proof of transfer along with bank sttaments would help as proof of funds.
_________________
The fund is from my Father in form of cash and He will make gift deed for me.
Yes, I have rental agreement to show and the property documents in my name will this be enough?
For second case. Have rental agreement for this also is in place but the property is not in my name.
So will some kind of undertaking from my brother that he by his free will have given me Authority to take the rental income and use for my self
Bank transfer will cost me 6% fee, if my father transfer one short from his bank into my account, which is a lot of money. For this very reason I got cash in my hand.
So if He transfer in small quantities for say 2k CAD$ per check/per day and then make the gift deed. will this activity look suspicious?
