Proof of financial support

[armaghan]

Hi guys, I am prospective student of Concordia University for Summer 2015 ( MS Applied Computing) and I am going to apply for a study permit.

as the section "Proof of financial support" on CIC website states that :

"You can prove that you have sufficient funds to support yourself in Canada by showing some of the following:
proof of a Canadian bank account in your name if money has been transferred to Canada;"

and that

"your bank statements for the past four months;"

My question is; Do I have to show my bank statements for the past four months of a "Canadian bank account" if the money has already been transferred to Canada ?

I am about to transfer the amount to a Canadian bank. Can I apply for a study permit immediately after transferring the money to Canada? or will I have to wait for four months, get that Canadian bank statement and then apply for a study permit?

Thank You.

 

[sarahngs]

Hello amaghan,

I'm no expert, but according to my knowledge, the bank statements of the last four months has to be from the bank account of the person who is sponsring you (parents, relative, etc.), not your bank account of canada.

From where r u applying??

 

[armaghan]

@sarahngs Thank you for your reply.

I am applying from Pakistan.

I understand that the financial proof doesn't necessarily has to be from a Canadian bank, and that, it can be in any form (loan, sponsored, personal account etc.)
My question is; Will the (4 months) duration still matter when the money has already been transferred to Canada? Since I am going to transfer my funds to a Canadian bank anyway.

Lets say I have transferred the amount to Canada and within a week applied for a study permit (attaching the newly transferred financial proof). Would they still reject my application just because the amount was recently transferred and not 4 months earlier?

got my point?

 

[sarahngs]

U didn't understand me. the bank statements of the last four months has to be from the bank account of the person who is sponsring you (parents, relative, etc.).
u have to attach:
1. the receipt of the transfer.
2. statement of last for months of the bank of the person who is sponsring u financialy for ur stay in canada. for ex. if ur father is who is paying ur studies, so it has to be ur father's bank statement of last 4 months.
I dont know which was the rules for pakistani applicants, but it is true that transfer money to canadian bank (GIC) is compulsary only for indian and chiness applicants. for pakistani applicants it is not compulsary. if u do it, its a plus point in ur appliation.

 

[armaghan]

Okay,

I have heard that if the amount has been transferred to Canada . That 4 months duration will be exempted.
Here's my scenario
I am from Pakistan. No one is sponsoring me. The amount is in Pakistan in MY name and it has been only ONE month since the account opening. So I m gonna have to wait another 3 months to get that amount mature enough. Now, to make this process quick, someone told me that I can transfer these funds to a Canadian bank and then immediately apply for a permit, so I won't have to wait for another 3 months, since the amount has already been transferred to Canada.

My question is, will I really be exempted from those 4 months if I do transfer? or should I wait for another 3 months here in Pakistan and then apply for a permit?

I highly doubt this exemption thing that is why I have posted here.

 

[sarahngs]

There are many ways to show your financial status, you can show as you want. putting the maximum proves means more chances you have to get approval. show propety, house, car, loan, etc. explain in the Letter of Explaination about the finiancial situation. do a strong SOP, and just try it. if in any case u get refusse, u can try it again after 3 months with the statements.

 

[aashani39]

I got objection of Part 12 Regulation, even I show the father's statement of last 6 months with closing balance of $84000 CAD. I want to reapply for study permit. Could you tell me How can I transfer the amount from pakistan to Canadian Bank.....

 

[sarahngs]

Im sorry but I have no idea about how u can transfer the funds from pakistan to canadian bank. The unique which I know is GIC, but unfortunately it's only for Indian and chinese students. I dont know if there r any program for pakistani students. I also experienced this problem, I had tried to contact with canadian bank, but they said that its compulsary to be resident in canada to open account.