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Hello,
My maternal grandfather sold a property in India and distributed some of the money between his children. My mother wants to transfer that money as a gift to me in Canada.
Please tell how they can deposit money in account and I can receive in my bank account without hassle?
Will any document be required and should that be notarized?
Is there a limit on amount to be transferred?
Does all amount need to be deposited in Canadian bank account in one transaction as it is a gift?
Thanks
Please do the following:
> Prepare a gift letter. On the letter specify the name of the giver (grandmother), the name of the recipient (you), the amount of the gift, and the date of the gift.
> The gift letter should be signed by you, your grandmother, and a witness.
> A notary public should notarize the letter.
> Transfer the funds to your personal account via wire transfer.
There is no upper limit for the gift amount. Multiple transfers are okay.