What Counts as “Proof of Funds” for a Canadian Study Permit? Liquid vs. Long-Term Assets
Hey everyone,
I’ve been going through the proof of funds requirements for a Canadian study permit and keep seeing conflicting advice online—especially around what actually counts as acceptable proof. Some people are listing their home equity or investment portfolios, but I’ve also read that IRCC only really cares about *liquid* funds.
So, I’m trying to clarify: what exactly does IRCC consider “liquid” when assessing proof of funds? For example, if I have savings in a bank account, that’s clearly liquid. But what about locked-in retirement accounts (LIRAs), mutual funds, or even real estate? I know some applicants have included property valuations, but I’m not sure if that’s actually accepted under the current rules.
Also, how strict are they about the timing? I’ve seen mentions of the funds needing to be available for at least 90 days before applying. Does that mean the money must have been in the account for 90 days, or just that it’s accessible during that window? And what about large deposits—like a gift from a parent? Are those okay as long as they’re properly documented, or do they raise red flags if they don’t have a clear source?
One thing that’s confusing me is the difference between SDS and non-SDS applications. Are the liquidity rules the same for both, or does SDS allow more flexibility with asset types?
I’d love to hear from others who’ve gone through this. What did you include in your proof of funds package? What did you leave out? And what details made the biggest difference in your application—like the bank statement format, documentation of the source, or something else?
If you’ve been through this, what would you check first when preparing your own proof of funds?
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I’ve been going through the proof of funds requirements for a Canadian study permit and keep seeing conflicting advice online—especially around what actually counts as acceptable proof. Some people are listing their home equity or investment portfolios, but I’ve also read that IRCC only really cares about *liquid* funds.
So, I’m trying to clarify: what exactly does IRCC consider “liquid” when assessing proof of funds? For example, if I have savings in a bank account, that’s clearly liquid. But what about locked-in retirement accounts (LIRAs), mutual funds, or even real estate? I know some applicants have included property valuations, but I’m not sure if that’s actually accepted under the current rules.
Also, how strict are they about the timing? I’ve seen mentions of the funds needing to be available for at least 90 days before applying. Does that mean the money must have been in the account for 90 days, or just that it’s accessible during that window? And what about large deposits—like a gift from a parent? Are those okay as long as they’re properly documented, or do they raise red flags if they don’t have a clear source?
One thing that’s confusing me is the difference between SDS and non-SDS applications. Are the liquidity rules the same for both, or does SDS allow more flexibility with asset types?
I’d love to hear from others who’ve gone through this. What did you include in your proof of funds package? What did you leave out? And what details made the biggest difference in your application—like the bank statement format, documentation of the source, or something else?
If you’ve been through this, what would you check first when preparing your own proof of funds?
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- What’s the planned program length and in which province?
- Are you relying on savings, a scholarship, or support from someone?
- Have there been any large deposits recently? If so, how were they sourced?
Also, it’s helpful to show a stable financial picture—like consistent balances over time—rather than just a single high deposit. Just a quick reminder: avoid sharing sensitive info like full bank account numbers or ID details in public posts.