Proof of funds (POF) is a very important part of your documentation. You must show that you have enough money to settle in Canada
How much money will you need?
The amount of money you need to support your family is set by the size of your family. The minimum amount of funds required is mentioned in the link below:
While you are awaiting your ITA, you can prepare to show your funds. You DO NOT need to get any bank letter/document at this stage but if you need to arrange funds (Like selling a car or liquidating assets such as selling gold), you have to start planning how you are going to show your funds.
CIC requires that the funds be unencumbered by any debt or obligation to repay. These funds must be liquid (You should be able to convert it to hard cash whenever required). You can see what CIC allows you to show as POF in the link provided above.
It could be FD (six months old minimum), bank account statement along with balance certificate from the bank (stating the date of account opening, current balance, the average balance of six months and total money’s worth in Canadian dollars, your name and address).
If all of the information could not be provided on one bank certificate, get a signed and stamped account statement from the bank to support the bank certificate.
TIPS
You cannot show money in anyone else’s account (Anyone who is not a part of your application).
Gift Deed
If you fall short by some amount, your parents can transfer the money to your account as a gift deed.
The following documents are required in order to support this:
An e-stamped affidavit (Article 4 Affidavit) citing ones parent as deponent about the transaction via Cheque XXX dated XXX drawn on Bank XXX, having his/her signature. (Roughly Rs. 10)
An e-stamped Gift deed (Article 33 Gift) showing your parent as a donor, and yourself as a Receiver. Further, state that these funds were out of their past savings, and that they don't expect the money back. Letter should have your as well as their signature. (Roughly Rs. 100)
Net-worth certificates of you and your parents to show that your family hasn't exhausted all their savings to support you, and that they can sustain themselves on the remainder. This Net-worth certificate should be issued by a reputed Chartered Accountant on their letter-head. (Roughly Rs. 500)
Your recent bank statement showing the funds being untouched and only a large number of credits happening with very few debits.
A detailed LOE with all the transactions and explanation.
That means a maximum cost of Rs. 1000. Just include everything specific beforehand at the time of Application submission, so that they don't ask for Additional documents later.
NOTE: No notarization is necessary since you would be scanning and uploading original documents.
