Canada Tightens Financial Checks for International Students

Canada has introduced tougher financial checks for international students seeking study permits, as per updated guidance from Immigration, Refugees and Citizenship Canada. Immigration officers are now instructed to closely examine both the amount of money applicants show and the source of those funds.

The new rules require that the source of funds be assessed in all cases, leading to more detailed reviews of financial backgrounds. Applicants may need to provide longer financial records, including six months of bank statements, and the updated guidance expands acceptable proof of funds to include pension income and rental property income.

The previous requirement of four months of bank statements has been increased, and the guidance specifies that statements from the month of application or the month before submission may be required. For students extending their permits, officers will assess whether they have enough funds to support themselves for the first year after the extension.

The required living expense amount remains CAD $22,895 for a single applicant studying outside Quebec.