study permit - proof of financial support

Canada Immigration Forum (discussion group)


 
       
Subject: study permit - proof of financial support
  Hi!

I´m due to renew my study permit (graduate studies) this spring. When I previously renewed my study permit, I was continuously employed (but part time) in the university and so I had no problem showing that I had more than enough money in the bank. This past year though, I didn´t work in order to work on my thesis full time. The undesirable consequence is that my bank balance is depleted.

I´ll be working again this coming Summer/Fall 2008 but my bank balance will still not be very high. I´m sure though that I wouldn´t come to the point where I will not be able to support/feed myself since I will start getting some income this summer.

Just to make sure though that CIC doesn´t think that I won´t be able to support my studies, I talked with my fiance and asked if I could check "I receive support from OTHER (fiance)" in box 11 (Financial support) on the CIC form to extend my stay in Canada (IMM1249). He agreed.

My questions are:

1)What kind of proof does CIC expect applicants to provide with regards to financial support from a relative/friend/othe? All that the guide mentions is a "a letter from a person (describe the relationship to you) who is giving you financial help,explaining the arrangements made for your expenses." Does anyone know the specifics - i.e., is proof needed to show that money is being transferred from one account to another; do I need to include a copy of his W4 to show that he is financially capable, etc.?

2)Do I still need to show that I have more than sufficient funds of my own in addition to #1 (financial support from fiance above)? Would it work against me if I ony have $3000 in the bank at the time of my application? I´m planning to show proof of employment though to back everything up. I´m just not sure how much CIC expects me to have in order for them to decide that I can financially support myself.

Thank you in advance for your replies. I hope this will soon be over. I hate being a grad student with no steady income.

Marnie

[01-03-2008,14:44]
[**.67.253.209]
Marnie
(in reply to: study permit - proof of financial support)
You need to show around 11,000 plus the tuition. You can borrow the money from your friends or relatives and get a bank certificate showing the total amount in your account. This should suffice for study permit renewal. You can also show bank certificate showing funds available with your parents.

Renewal of study permit is not as complicated as the initial issuance and usually bank statement showing the required amount is sufficient. However,for non-North American accounts also use last three months bank statements.

[01-03-2008,16:22]
[***.21.154.72]
Samm
(in reply to: study permit - proof of financial support)
What about question no. 1?
Is it just the letter they´re looking for (as mentioned in the guide) or should I be supplementing that with W4 (or equivalent, fiance is in US so don´t know what the W4 counterpart is) or something else?

[01-03-2008,16:44]
[**.67.253.209]
Marnie
(in reply to: study permit - proof of financial support)
he he

correction, W4 --> T4.
I have no idea why I keep typing W4.

[01-03-2008,16:51]
[**.67.253.209]
Marnie
(in reply to: study permit - proof of financial support)
If you are going to use your fiance´s money, then provide a written statement from him. Also, show that he is capable of supporting you. For this purpose you can show bank statements, past w2, recent salary slips, etc.
[01-03-2008,16:55]
[***.21.154.69]
Samm
(in reply to: study permit - proof of financial support)
If I´m including a letter (outlining financial arrangement) from my fiance and copies of his W2, etc., is it still required that I be able to show that I (not my fiance) have more than $11,000 in my own bank account?

Or would proof of employment (showing how much I earn in a month) be acceptable in lieu of showing that I have $11,000+ of my own personal funds?




[01-03-2008,20:52]
[**.67.253.209]
Marnie
proof of financial support posting (in reply to: study permit - proof of financial support)
please, on the same subject..

does the CIC accept shares invested in one´s home country as evidence of funds by including the share certficate copies (and original available on request)in addition to a canadian bank certificate?, the share certificates are for me and they are in my name and the genuinety can be confirmed.

Thanks

[02-03-2008,01:37]
[**.57.171.234]
anonymous
(in reply to: study permit - proof of financial support)
Marnie,

If you are showing your fiance´s support then you do not need to show money in your account but its still better if you can show money in yours or your parents accounts as CIC has to be convinced that your fiance will indeed support you.

Anonymous,

Shares are considered liquid assets and hence are acceptable but do not rely entirely on shares as prices change everyday. If you have considerable amount invested in Shares then you can show them in addition to other liquid assets.

[02-03-2008,03:55]
[***.21.154.117]
Samm
(in reply to: study permit - proof of financial support)
Thanks Samm!

I´m going to compile together all possible sources of funds to convince CIC. I need to stay 1.5 more years.

[02-03-2008,18:38]
[**.67.253.209]
Marnie
re: proof of financial support posting (in reply to: study permit - proof of financial support)
thanks, samm

you mean it does not matter whether the investment in shares is Canada or any country as long as it can be confirmed authentic?

waiting for your response again, samm or anyone else


[03-03-2008,01:33]
[**.57.171.234]
anonymous
(in reply to: study permit - proof of financial support)
Yes, you can use those but you have to submit a proper statement issued by the companies or banks. Also, do not rely on share statement alone while showing your financial status.
[03-03-2008,06:59]
[***.69.2.5]
Samm