Share Certificates and Mutual Funds as proof of funds

[itwarriorkarve]

HellO Guys,

I am planning to apply for my Canadian study permit and facing some confusions about what to show as proof of funds.

Firstly, will a sponsorship letter from both my parents be enough? What all points should be covered in the sponsorship letter?

Secondly; My agent has said that showing mutual funds investments and share certificates are acceptable? Is this true?

Thirdly; Can we show any property in our name as a proof of fund?

And Finally, is it advisable to show maximum amount of funds available for better visa chances or just the minimum of $10,000 + tuition fees is sufficient? I have read some posts that said showing too many funds may not necessarily help.

Thanks Everybody!!1

 

[J5M]

Hi,

HellO Guys,

I am planning to apply for my Canadian study permit and facing some confusions about what to show as proof of funds.

Firstly, will a sponsorship letter from both my parents be enough? What all points should be covered in the sponsorship letter?

Secondly; My agent has said that showing mutual funds investments and share certificates are acceptable? Is this true?

Thirdly; Can we show any property in our name as a proof of fund?

And Finally, is it advisable to show maximum amount of funds available for better visa chances or just the minimum of $10,000 + tuition fees is sufficient? I have read some posts that said showing too many funds may not necessarily help.

Thanks Everybody!!1

1. If you are from India, it won't work.
2. Both are open fund, can be used for anything, so not acceptable (India).
3. No. There is no 'guarantee' funds are available for study only. Again it's open cash.
4. Financial capacity is just a technical thing, all you need CAD 10000 + first year tuition fee, showing millions won't make ANY single difference.

 

[itwarriorkarve]

Thanks J5M

But if my parents have savings in fixed deposits then can't that be shown? I as an individual surely do not have that much saving alone...

 

[Linzar]

Hi..here's my exp..applied online from India. Passport stamped

1. Sponsorship letter from parents along with proof of funds of parents are good to go. Proof of funds can be fixed deposit, bank statements and tax returns for past 3 years. In sponsorship letter, the sponsor can mention his/her relationship with you, why sponsoring your studies and what all expenses they are planning to sponsor.

2. Personally I feel that the Visa officer will not consider mutual funds and shares as financial proofs as markets trends are not fixed. But there is no harm in adding these docs as your proof of finance. But donot consider them to be your primary docs. They can just be add-ons.

3. Yes u can show property as proof of finance. But you need to get your property evaluated. And that evaluation document need to be submitted as proof.

4.Its always better to be on safer side. Upload as many proofs you can which truly support your application.


Hope this helps

 

[itwarriorkarve]

Awesome reply!!! Thanx a ton Linzar!!! ;D ;D

Hope i get my visa stamped in time :'(