Hi all,
I am just really stressing out about this right now. Right now I am applying to KICL and I will be applying for admission for 1.5 years. The requirment of money needed in the bank statement is 3000000 yen (30,000 CAD). I have all my application forms done however, the only thing is the banking statement from my sponsor.
My sponsor has an investments account that they keep seperately from the bank shows that they have more than enough money needed for the requirment and they are able to take out money from the investment account as well.
I was told that it has to be a bank statement or certificate, my sponsor told me that they don’t normally keep such a large sum of money into their savings/cheqing account and it strictly stays in investment/ life insurance.
The money comes from the fact that they’ve been working for 40 years and it accumulated over time, as well as from stocks and different properties they own, pension money etc.
Of course we discussed the option of taking out 30,000CAD and putting it into the savings account however, they will get charged 30% and showing that there was 30,000CAD put into the account adbruptly looks a bit weird.
The documents my sponsor provided me is a investment statement that shows how much money they have in their investment.
Will this be enough? What else should I send?
3 comments
This is a copy of your post for archive/search purposes.
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**Bank Statment or Investment Statment for Student Visa**
Hi all,
I am just really stressing out about this right now. Right now I am applying to KICL and I will be applying for admission for 1.5 years. The requirment of money needed in the bank statement is 3000000 yen (30,000 CAD). I have all my application forms done however, the only thing is the banking statement from my sponsor.
My sponsor has an investments account that they keep seperately from the bank shows that they have more than enough money needed for the requirment and they are able to take out money from the investment account as well.
I was told that it has to be a bank statement or certificate, my sponsor told me that they don’t normally keep such a large sum of money into their savings/cheqing account and it strictly stays in investment/ life insurance.
The money comes from the fact that they’ve been working for 40 years and it accumulated over time, as well as from stocks and different properties they own, pension money etc.
Of course we discussed the option of taking out 30,000CAD and putting it into the savings account however, they will get charged 30% and showing that there was 30,000CAD put into the account adbruptly looks a bit weird.
The documents my sponsor provided me is a investment statement that shows how much money they have in their investment.
Will this be enough? What else should I send?
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As a language school student your options are limited to “cash in the bank”.
They want the funds being used to be liquid, aka easily accessible and usable if it’s needed. Investment accounts are probably *not* gong to be acceptable. Especially since you mentioned a 30% charge, so I’m guessing this is some sort of tax-privileged account like an American IRA.
But you’re correct in that just depositing $30k in the account is also going to be a problem. They get suspicious of the money just shows up right before the application. If you’re going to move it into a regular account you need to do so and then let it sit for a couple months.
I actually used my own investment accounts as my primary source of funding, so it may be possible. I’m not sure what your sponsor uses, but I use Fidelity, and it’s very liquid, so I can get access to funds within the week if I need to, and I don’t need to contact anyone bc I do it all myself.