Financial Support: Is the proof of funds is enough

[Neyos]

I want to offert support for my brother for his study in Canada. I want to know if the Proof of funds is enough for that ? Should I need to submit my last 3 bank months statements ?

I'm asking because the last 3 month, I kept around 10k USD in my bank account. Then when the answer come, I decided to sold some of my assets and take money from family relative to put in my account for proof. The total of the assets I took is 15k USD and the family gave 5k USD. So now I have around 30k USD for support. He is planing to go to a CEGEP ( DEC ).

If I give my statements, they can see that I jump from 10K USD to 30k USD and I'm afraid the looks that suspicious. So I want to know if someone has already been approve with just the proof of funds and the incomes ( as Income, I'm at ~140k per year ).

Thanks.

 

[happyhumanbean]

You need to attach a 4 month statement and you need to include explanations for unusual deposits preferably with supporting evidence.

Your income is 140k USD per year?

Wait and see what others have to say.

 

[Neyos]

You need to attach a 4 month statement and you need to include explanations for unusual deposits preferably with supporting evidence.

Your income is 140k USD per year?

Wait and see what others have to say.

Yes, is per year.

 

[Geet7]

Note that IRCC doesn't consider future income as evidence. If you submit 4 account statements, the money in the account will be the one considered by IRCC.

You have to submit AT LEAST the first year of tuition + CAD 10.000 of living expenses. However, if you see refusal reasons in the forum, you'll see that people applying with that amount have received refusals based on lack of funds.

The only safe bet is to apply with enough money to cover the entire program + CAD 10.000 per year to cover living expenses. Anything below that threshold, there is not way of knowing for sure what the Visa Officer will say.

In short, try to have as much as possible above the first year of tuition + CAD 10.000. Also, know that they might question large deposits in your bank statements.

 

[happyhumanbean]

Yes, is per year.

Then you could use your income to justify selling your assets. One of the reasons why IRCC become suspicious of sudden jumps is because some people temporarily inflate their bank account balance for the visa application.

As long as you explain clearly with evidence like receipts and bank statements, and you maintain that amount throughout the visa application, it should be OK. Some people with sudden jumps have been asked to upload another bank statement during processing.