Source of Funds & AML Compliance

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Canadian authorities require thorough documentation on the legality and origin of funds, especially under SUV and PNP pathways. While C11 has more flexible thresholds, it also involves review of business viability and fund availability.

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Applicants must provide:

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• Detailed bank statements (past 6-12 months)
• Source of income documentation (employment, sale of assets, inheritance)
• Business registration and financials, where applicable
• Translations and notarized documents if not in English/French

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There is enhanced scrutiny for politically exposed persons (PEPs), applicants from high-risk jurisdictions, and crypto-wealth holders. Transfers must come from verifiable, regulated institutions. Intermediated or third-party transfers may trigger additional due diligence or rejection.

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The SUV program in particular requires that incubators or angel groups certify not just innovation but also the applicant’s credibility and financial background. Fraud or misrepresentation results in a 5-year ban.

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