Financial Documents for Applications
Updated: Jan 5, 2021
What documents should I provide to demonstrate strong financials in my application?
This has to be one of the most frequently asked questions we are asked and the number one answer is: demonstrate liquid funds through bank statements and a letter from your bank supporting those statements. These are ultimately the only documents that you may use for Express Entry settlement funds. However, this is not the only thing you have at your disposal for a temporary resident visa.
Top 10 documents for proving financials + 2 bonus points!
Letter from your bank (Express Entry) - this letter must be printed on the financial institution's letterhead, include their contact information (address, telephone number and email address), your name, it must list outstanding debts such as credit card debts and loans and should include, for each current bank and investment account the account numbers, date each one was opened, the current balance of each and the average over the last 6 months.
Letter from your bank (Temporary Resident Visa) this letter should simply include that you are a client of the bank and the amount in your account as of that day as well as an average over the past 4-6 months depending on which country you are coming from. It should also be printed on the institution's letterhead and include their contact information (address, telephone number and email address)
Home ownership or affidavit of support/invitation to Canada - Owning a home is helpful both to show ties to your home country, and family establishment. However, if you are staying with someone in Canada who also owns their own home it demonstrates that they have sufficient finances to support you during your stay.
Health insurance - This ensures that you are not going to be a burden to Canadians if you become injured or ill. This combined with a Canadian host home and a smaller amount of travel funds are still a strong case in many situations.
Rental agreements - This might be best used for a spousal open work permit where a spouse will come live with their spouse in Canada, incurring no additional housing expenses.
Investments - although these are not liquid they do support a financial status in addition to ties to one's home country.
Employment verification letters -These may demonstrate continued employment and regular salary for those who are visiting Canada. Combined with a letter allowing a leave of absence to visit this can create a very strong case financially for permitting a tourist visa.
Pay slips - these support your employment letter and demonstrate your wage.
Record of deposits to your bank accounts - If you can not obtain pay stubs or are paid in cash, a record of deposits will show that this is actually the case
Affidavit of cash payment from employer - indicating you are paid in cash to substantiate this.
Tax filings - this demonstrates ties to the home country as well as financial stability and is a strong point for many cases.
Notices of assessment - These may be used by a Canadian host or sponsor to demonstrate their financial ability/stability.
For more information or assistance with your application please book a consultation with us.
Immigration Station Canada is a dedicated, professional Canadian Immigration firm practicing out of Northumberland County, just east of Toronto, in Canada. We serve clients from Kingston, Belleville, Brighton, Cobourg, Oshawa, the GTA, Guelph, Milton, Stratford and St. Catharines and around the world. Our Regulated Canadian Immigration Consultant, Anne C. McCaughey (Annie) is an experienced immigration services provider and a fifth generation Canadian who values the immigration process and the unique individuals who immigrate to Canada to become part of the fabric of this wonderful country. If you would like to submit a question to Ask Annie, use the link located at the top right of the page.
How Can We Help?
We do work permits, study permits, visitor visas, Express Entry, spousal sponsorship, family class sponsorship, and Canadian citizenship with an expertise in Labour Market Impact Assessment (LMIA) applications and Global Talent Stream applications.
Please contact us if you would like assistance with your immigration application or to book an appointment.