Go Back  British Expats > Living & Moving Abroad > Canada > Immigration & Citizenship (Canada)
Reload this Page >

Move to Canada - Proving our Finances

Move to Canada - Proving our Finances

Old Feb 13th 2012, 9:27 am
  #1  
Just Joined
Thread Starter
 
Joined: Jan 2012
Posts: 12
jadeandmatt is an unknown quantity at this point
Smile Move to Canada - Proving our Finances

Hi All,
I have just been accepted onto a post-graduate course in Canada, so my boyfriend and I are beginning to get our heads around the process for us to be able to move over there for my studies.
However, on the visa applications, it is asking us to 'prove our financial status' to show we will be able to support ourselves during our stay. Matt is planning on getting a job when we're over there, which will obviously go some way to support us, but before then we are going to be selling our house to fund our trip - but obviously at the moment, we dont have anything to prove that we will have the money from the house sale.
Does anyone have any ideas how we can prove we will be able to support ourselves from our house sale? Or any other options for us to get the visas approved?
Many Thanks for your help
Jade and Matt
jadeandmatt is offline  
Old Feb 13th 2012, 9:56 am
  #2  
Just Joined
Thread Starter
 
Joined: Jan 2012
Posts: 12
jadeandmatt is an unknown quantity at this point
Default Re: Move to Canada - Proving our Finances

I have just read on another thread that house valuations along with a mortgage statement will suffice as proof of our financial situation - does anyone know if this is true?
Many Thanks
jadeandmatt is offline  
Old Feb 13th 2012, 10:52 am
  #3  
Forum Regular
 
nerdherd's Avatar
 
Joined: Jan 2012
Location: Vancouver
Posts: 180
nerdherd is just really nicenerdherd is just really nicenerdherd is just really nicenerdherd is just really nicenerdherd is just really nicenerdherd is just really nicenerdherd is just really nicenerdherd is just really nicenerdherd is just really nice
Default Re: Move to Canada - Proving our Finances

I believe this is true but please don't take my word for it as I am not talking from experience. There is bound to be someone on here who will have done it and confirm soon one way or another. I am interested in finding this out once and for all myself as well, actually!

It is also recommended to get letters from your bank(s) to state how long you've been with them and that (hopefully) your accounts are in good order + same from mortgage lender stating that (hopefully, again!) you have never missed a payment, etc...

Good luck with it all - where will you be going to and what will you be studying? (just being curious, don't feel you have to answer that if you don't feel like it!)
nerdherd is offline  
Old Feb 13th 2012, 11:01 am
  #4  
Done!
 
engineer80's Avatar
 
Joined: May 2009
Posts: 619
engineer80 is a splendid one to beholdengineer80 is a splendid one to beholdengineer80 is a splendid one to beholdengineer80 is a splendid one to beholdengineer80 is a splendid one to beholdengineer80 is a splendid one to beholdengineer80 is a splendid one to beholdengineer80 is a splendid one to beholdengineer80 is a splendid one to beholdengineer80 is a splendid one to beholdengineer80 is a splendid one to behold
Default Re: Move to Canada - Proving our Finances

For Federal Skilled Worker Visas and for Provincial Nominees, I know the London visa office is the only one that accepts equity in your home as proof of funds at the initial stages of applying. Usually, a valuation from an estate agent along with an up to date mortgage statement is accepted as proof. However, later on in the application process (depending on which route you take) and when you land in Canada, the funds need to be liquid. I am not sure how it works with a study visa. I'm not sure if maybe you would need to show you have the cash readily available at the time of applying.
engineer80 is offline  
Old Feb 13th 2012, 11:04 am
  #5  
Just Joined
Thread Starter
 
Joined: Jan 2012
Posts: 12
jadeandmatt is an unknown quantity at this point
Default Re: Move to Canada - Proving our Finances

Thanks nerdherd - hopefully it will be enough for us to get our application submitted sooner rather than later!
Good idea about the letters from the banks - although we arent exactly 'rolling in it', we have never missed mortgage payments etc, so hopefully that will help too!!
I will be studying at Conestoga College (Kitchener/Guelph area in Ontario) and will be completing my post-graduate course in Events Management - we're both so excited about the prospect of moving, but the process just seems so daunting at the moment...hopefully it will all be done in time for me to start in September!!

Any other advice/tips people can give would be very much appreciated.
jadeandmatt is offline  
Old Feb 13th 2012, 12:08 pm
  #6  
Just Joined
Thread Starter
 
Joined: Jan 2012
Posts: 12
jadeandmatt is an unknown quantity at this point
Default Re: Move to Canada - Proving our Finances

Just had an additional thought....

Oviously if we sold the house first, we would then have the 'equity' ready in our bank as proof we can support ourselves...the only risk then is that if our visa isnt approved (although I doubt it would be, I have a letter of acceptance and neither of us have criminal records)

What do people think about this process of doing things?!

Thanks for your advice engineer80 :-)
jadeandmatt is offline  
Old Feb 13th 2012, 7:38 pm
  #7  
PMM
Lost in BE Cyberspace
 
PMM's Avatar
 
Joined: May 2004
Posts: 9,708
PMM has a reputation beyond reputePMM has a reputation beyond reputePMM has a reputation beyond reputePMM has a reputation beyond reputePMM has a reputation beyond reputePMM has a reputation beyond reputePMM has a reputation beyond reputePMM has a reputation beyond reputePMM has a reputation beyond reputePMM has a reputation beyond reputePMM has a reputation beyond repute
Default Re: Move to Canada - Proving our Finances

Hi

Originally Posted by jadeandmatt
Hi All,
I have just been accepted onto a post-graduate course in Canada, so my boyfriend and I are beginning to get our heads around the process for us to be able to move over there for my studies.
However, on the visa applications, it is asking us to 'prove our financial status' to show we will be able to support ourselves during our stay. Matt is planning on getting a job when we're over there, which will obviously go some way to support us, but before then we are going to be selling our house to fund our trip - but obviously at the moment, we dont have anything to prove that we will have the money from the house sale.
Does anyone have any ideas how we can prove we will be able to support ourselves from our house sale? Or any other options for us to get the visas approved?
Many Thanks for your help
Jade and Matt
1. I am assuming your "boyfriend" is your common/law spouse and that you have co-cohabiting in marriage like relationship for 1 year.
2. You have to show the cash for the first year tuition, plus $14K living expenses for the 1st year for the 2 of you and sufficient for airfare. If you don't have the cash now, they won't issue the study permit. The hopes of a job don't cut it either.

From the instructions

"Document #3 - Proof of financial support

Evidence that you can support yourself as well as accompanying family members while studying in Canada. Such evidence may include:

proof of a Canadian bank account, if money has been transferred there,
Bank statements for the past four months,
proof of payment of tuition and residence fees, and
proof of funding paid from within Canada for students with a scholarship or enrolled in a Canadian-funded educational program.
PMM is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.