How to show proof of income as business owner?

[321ninja123]

I (19) am applying for a study permit in Canada. My father will be financing my stay. I'm confused about how to show proof of income. I already have my personal bank account with the four-year duration of the program, but I've been advised to also show proof of income. My father owns a business, and I was wondering how I could prove his income. I have nine months of business bank statements from his company, his tax ID and commercial registration certificate. Will that be enough, or are there other documents I should collect?

Also, should I show property ownership for home ties?

 

[Naturgrl]

Only personal bank statements are accepted not business accounts.

 

[321ninja123]

Only personal bank statements are accepted not business account

Yes I will upload my personal bank statements but I can't upload business bank statements alongside that to show proof of income? not proof of funds, just to show my father's company is active and that there's money flowing in and out.

 

[YVR123]

Yes I will upload my personal bank statements but I can't upload business bank statements alongside that to show proof of income? not proof of funds, just to show my father's company is active and that there's money flowing in and out.

You need to understand the in Canada, personal income is different from business income.
Even if the business has a single owner, the money in the business is NOT money of the owner.

Unless it's paid to the owner, it's not his/her money. So you need a statement of his personal account.

 

[321ninja123]

You need to understand the in Canada, personal income is different from business income.
Even if the business has a single owner, the money in the business is NOT money of the owner.

Unless it's paid to the owner, it's not his/her money. So you need a statement of his personal account.

He doesn't have an account. He's been using mine for years now.

 

[Naturgrl]

He doesn't have an account. He's been using mine for years now.

Why is your father using your account? For a study permit, you show personal accounts only. Business accounts do not show proof of funds for a person as they are not made out to a person's name.

 

[321ninja123]

You need to understand the in Canada, personal income is different from business income.
Even if the business has a single owner, the money in the business is NOT money of the owner.

Unless it's paid to the owner, it's not his/her money. So you need a statement of his personal account.

Im sorry what do you suggest I do? I have a personal bank account under my name with 200k CAD and another one with 10k USD. My dad is paying for my stay it's just that the statements are under my name. How do I show he has a steady income? Im unemployed so I wouldn't be able to do that myself.

 

[321ninja123]

Why is your father using your account? For a study permit, you show personal accounts only. Business accounts do not show proof of funds for a person as they are not made out to a person's name.

1. He's using my account due to tax related issues.
2. I fully understand that I only need personal bank statements for proof of funds. I just wanted to add proof of employment to better my application.

 

[Naturgrl]

1. He's using my account due to tax related issues.
2. I fully understand that I only need personal bank statements for proof of funds. I just wanted to add proof of employment to better my application.

1. Okay so then just use your bank statements. If he is using your bank account for personal use and it is in your name only, you may need to explain where all the money is coming from.
2. Proof of employment is not bank statements but business registration and job letter.

 

[321ninja123]

1. Okay so then just use your bank statements. If he is using your bank account for personal use and it is in your name only, you may need to explain where all the money is coming from.
2. Proof of employment is not bank statements but business registration and job letter.

So its okay for the letter of support to be from my dad even if the bank account is under my name? Yes? Most of the money came from a property sale, so I'm just going to include proof of that. Is there even a need for proof of income/employment? Is that overkill?

 

[Naturgrl]

So its okay for the letter of support to be from my dad even if the bank account is under my name? Yes? Most of the money came from a property sale, so I'm just going to include proof of that. Is there even a need for proof of income/employment? Is that overkill?

You show your bank statements but if 19 then may need to explain if there is a lot of money coming in and out. Show sale of property to explain where money came from. Don't know program or where you are studying but show proof of funds and tuition for 1st with proof of income for following years.

 

[321ninja123]

You show your bank statements but if 19 then may need to explain if there is a lot of money coming in and out. Show sale of property to explain where money came from. Don't know program or where you are studying but show proof of funds and tuition for 1st with proof of income for following years.

Must I show 1st year tuition paid? I have paid a deposit for 1500CAD.

 

[Naturgrl]

Must I show 1st year tuition paid? I have paid a deposit for 1500CAD.

You need to show $21k cash in the bank plus tuition if not paid. What school and program?

 

[321ninja123]

You need to show $21k cash in the bank plus tuition if not paid. What school and program?

Bachelor of science at memorial university of newfoundland

 

[321ninja123]

You need to show $21k cash in the bank plus tuition if not paid. What school and program?

Why does the school matter? Also in formw imm1294e do I fill in total tuition or just the first year?