NEED HELP ON PROOF OF FUNDS IN NON-SDS CATEGORY.

[SAINI_Davinder]

Hello, I am from Mumbai, India. I have been admitted to The University of British Columbia, Vancouver (UBC) for Meng Program. My university is not accepting fees before 3rd week of June. Considering the impact of pandemic on the processing time of visa, I am planning to apply under non-sds as early as possible. However I am having hard time getting confidence over my financial as I am not sure if its enough or not. I EAGERLY SEEK FOR HELP IN THIS REGARD. I WILL TRULY APPRECIATE IF ANYONE CAN HELP ME WITH THEIR EXPERIENCE AND KNOWLEDGE. (Below data is with conversion rate 1 Cad = 59.64 INR)
My total tuition fees= 21000 cad.
I have taken an education loan from Axis Bank (Nationalized Bank)= ₹ 1500000/ Cad 25151.
Cad 10000 GIC Paid from my savings. GIC Certificate received.
Father ITR (AY 2020-21)+ Mother ITR (AY 2020-21) = ₹ 1040000 / Cad 17400
My father is a businessman so we keep all the funds in current account which is in the name of company. He is partner with 33%. Same with FD's all in name of company.
So we don't have balance in our personal saving account nor FD's. (Every month Constantly ₹ 100000 is deposited in Father+Mother account and used by the end of the month). Hence saving=0. This is the reason why I took Education loan as all the funds are in company current account I wasn't able show it in our saving account. We withdraw based on our expenses. Money earned from business remains in current account.
Father+Mother Fixed assets (Land, Building, Flat, Factory, Shop, House etc.) = ₹ 9962000 / Cad 167000

With the above said scenario I am planning to attach following documents to prove my financials: -
Education Loan Sanction Letter, GIC Certificate, Affidavit of parents Sponsorship, Father+Mother ITR, CA certificate showcasing fixed and liquid assets, Partnership deed of our family business, GST Certificate.
1) Apart from this Should I attach company ITR also?
2) Should I attach bank statements of current account and saving accounts?
3) Will the above mentioned documents be enough as financial proof of funds?
4) Anything to add or subtract?

Please do help me.

 

[rogelcorral]

IMO, your best strategy is to apply through SDS to simplify the financial documents needed. Company funds, even if the company is wholly owned by your family, is still company funds. If you apply for SP now through regular non SDS, the VO may scrutinise the financial aspect of your application. As you said, you haven’t paid tuition yet because the school is not yet accepting payment. If you apply through SDS, you are only required to show 1 year tuition paid in advace and your GIC investment as financial proof.

Just my opinion, though...

 

[SAINI_Davinder]

But the problem is if I wait until JULY FOR SDS LOOKING AT CURRENT PROCESSING TIME N NUMBER OF APPLICATION IN NO CASE I WILL BE ABLE TO START MY COURSE ON 1 SEPTEMBER. FURTHER IT IS ON CAMPUS STARTING ONLINE WOULD NOT BE AN OPTION AS WELL.

 

[rogelcorral]

If I were you, I would rather start late than risk rejection with a half-cooked application. With a rejection, you are going to start later anyway, after a re-application or so. I am not saying you will be rejected. What every applicant needs is to make sure the application is complete and acceptable to the VO. Put yourself in the VO’s shoes processing an application from a complete stranger wanting to come to his/her country. There’s no way for the VO to know the sincerity of each applicant. They rely on guidelines in processing each. As we are complete strangers to the VO, so are they to us. If the VO would just accept all applicants, then sooner or later the system may be overwhelmed with fake applicants trying to game the system. That would the result in the collapse of the system.

People have been accepted in the past with a not-so-sterling credentials. That is a risk one has to take. But if you want to be accepted in your first try, why not exert all efforts to make your application so strong that the VO have no choice but approve it?

Best wishes to your application!