Proof of fund for study permit

[harveyman]

Hello everyone,

I am applying for the Master of Engineering in Geodesy and Geomatics Engineering at the University of New Brunswick, which is a 12–24 month program. I plan to pay my full first-year tuition upfront and I also have enough funds to cover the required living expenses plus an additional buffer.

My father is my financial sponsor. He owns an oil and gas servicing company, which is a sole proprietorship (he fully owns and operates it). My tuition and living expenses will be paid directly from his business account, since that is where his income is deposited. I have also been working for his company for the past year in an official capacity.

My questions are:

1. Is it safe/acceptable to use my father’s business account for proof of funds, provided we submit all supporting ownership and income documents?
2. Are there any specific documents I should include to make this stronger (e.g., business registration, tax documents, or a notarized sponsorship letter)?

Thank you for your guidance!

 

[Naturgrl]

1. No. Must be personal account in his name only not company.
2. Show your bank statements that you can afford to study in Canada and not be supported by your father's business.

 

[Iggy94]

Hello everyone,

I am applying for the Master of Engineering in Geodesy and Geomatics Engineering at the University of New Brunswick, which is a 12–24 month program. I plan to pay my full first-year tuition upfront and I also have enough funds to cover the required living expenses plus an additional buffer.

My father is my financial sponsor. He owns an oil and gas servicing company, which is a sole proprietorship (he fully owns and operates it). My tuition and living expenses will be paid directly from his business account, since that is where his income is deposited. I have also been working for his company for the past year in an official capacity.

My questions are:

1. Is it safe/acceptable to use my father’s business account for proof of funds, provided we submit all supporting ownership and income documents?
2. Are there any specific documents I should include to make this stronger (e.g., business registration, tax documents, or a notarized sponsorship letter)?

Thank you for your guidance!

Yes it’s possible to use your father’s business account but you need to include all documents that shows his ownership and how much control he has over the finances over the company.
He should be able to prove that he can sponsor you without the company running at a low account balance.

Another good step to take is let him transfer sim of the amount into your personal account as a gift.

 

[canuck78]

Yes it’s possible to use your father’s business account but you need to include all documents that shows his ownership and how much control he has over the finances over the company.
He should be able to prove that he can sponsor you without the company running at a low account balance.

Another good step to take is let him transfer sim of the amount into your personal account as a gift.

That is a bad idea. Funds in a business account are supposed to be used for a business. Many people have been denied for showing business account not personal account.

 

[canuck78]

Hello everyone,

I am applying for the Master of Engineering in Geodesy and Geomatics Engineering at the University of New Brunswick, which is a 12–24 month program. I plan to pay my full first-year tuition upfront and I also have enough funds to cover the required living expenses plus an additional buffer.

My father is my financial sponsor. He owns an oil and gas servicing company, which is a sole proprietorship (he fully owns and operates it). My tuition and living expenses will be paid directly from his business account, since that is where his income is deposited. I have also been working for his company for the past year in an official capacity.

My questions are:

1. Is it safe/acceptable to use my father’s business account for proof of funds, provided we submit all supporting ownership and income documents?
2. Are there any specific documents I should include to make this stronger (e.g., business registration, tax documents, or a notarized sponsorship letter)?

Thank you for your guidance!

Would show your personal account where you have been paid for at least the past 1.5 years and your father’s personal account. You can show proof of his business and how much the business makes yearly if he doesn’t have sufficient funds for the whole 2 years.

 

[Iggy94]

Many people have also been approved for using a business account.
It depends on the type of business account you’re using.
The sponsor is his father which is a direct sponsor. He just have to explain the sources of income very well.