The minimum financial requirements for a Canada study visa, also known as a study permit, depend on various factors such as the duration and location of your study program, as well as whether you are studying in a major city or outside of it. These requirements are designed to ensure that you have enough funds to cover your tuition fees, living expenses, and return transportation costs.
While the specific amount can vary, below are the general minimum financial requirements for a Canada study visa:
Tuition fees: You need to demonstrate that you have sufficient funds to pay for your tuition fees. The exact amount will depend on the program and institution you are attending. You should have proof of payment or an official letter from the institution indicating the amount of tuition fees.
Living expenses: You need to show that you have enough money to cover your living expenses while studying in Canada. The minimum amount required for living expenses is determined by the Canadian government and is subject to change. As of 2023, the minimum amount is CAD $10,000 per year, excluding tuition fees. However, this amount can vary based on the location and duration of your study program.
Return transportation: You should demonstrate that you have sufficient funds to cover the cost of a return ticket to your home country.
Proof of funds: You may be required to provide evidence of your financial capacity, such as bank statements, bank drafts, or letters from financial institutions. These documents should show that you have enough funds to meet the financial requirements for the duration of your stay in Canada.
It’s important to note that the financial requirements may change, and it’s essential to consult the official Canadian government website or contact the nearest Canadian embassy or consulate for the most up-to-date information regarding the minimum financial requirements for a Canada study visa. Additionally, it’s advisable to have extra funds beyond the minimum requirements to ensure you can cover unexpected expenses and have a comfortable stay in Canada.
