I have funds that my parents tied up in stocks. I will be able to sell these stocks in advance of my application but am unsure how I show the source of these funds and of the stocks themselves since they were purchased by my parents.
Regarding the proof of funds, the Cyprus Bank Institution can base its due diligence and KYC on your parents'' background (given that you provide a Birth Certificate proving your relation). For example, you can show the selling of the stocks (in your parents'' names) and thereafter a bank statement showing the transfer of the investment amount (2 million euros) towards your account.
The indication of the source of funds would be required both for the receiving bank purposes as well as for the Ministry for CBI purposes. In that sense, we would need to show where the funds derived from (i.e. where your parents got the wealth and then a deed of gift between your parents and yourself).
