Study Permit refused due to financial reasons

The most common reason for refusal, and also the "nightmare" of many applications from countries listed under SDS (Student Direct Stream), is submitting under the category requiring financial proof.

How can you demonstrate strong and convincing financial capability when applying for a study visa? Here are the principles and reminders that TTN Immigration has sent our clients.

1. Complete tax declaration

In general principle, whether your income comes from employment or self-employment, operating a company or enterprise, it is necessary to fulfill tax obligations, contribute to social insurance, have tax declarations, (individual, business, fixed taxes, etc.) to be most convincing —> If you haven't filed your taxes, please do it now, although we may not need to use tax documents at the moment, we may need them in the future.

2. Other income stream

Other sources of income such as investments, renting property, real estate transactions, lending, savings deposits, etc., also require proper tax declaration in accordance with local laws and regulations.

3. Long-term savings account

A long-term savings account (lasting for 1 year or more) requires a minimum deposit period of 4-6 months before submitting the application. The amount should be equivalent to living expenses, daily expenses, and transportation costs for the entire duration of studying in Canada (not less than one year in Canada).

4. Proof of financial source

In the case of a family member studying abroad, it is necessary to maintain a proven source of income that can continue to support the student's expenses, thereby ensuring that the student does not need to engage in employment contrary to legal regulations.

5. Financial transactions

Financial transactions and income should go through banks to provide more convincing evidence: maintaining regular transactions for 6-12 months will be more persuasive than 1-2 months.

If there are any deficiencies, please remember to address them and take action immediately to ensure that the visa application is thoroughly convincing before submission.

In addition to financial matters, it's essential for you to improve your language skills (English/French) to demonstrate serious study intent. (Ideally, achieving IELTS-Academic 6.0 - with no skill below 6; if not achieved, additional financial proof and a convincing application for language improvement before the main course will be required.)

According to David Le, RCIC, TTN Immigration