Equity investments (stocks, shares, etc.) are generally not accepted as proof of funds for a Canadian study permit application, even though IRCC's published guidance doesn't explicitly call this out the way it does for Express Entry.
What group members noted:
- For Express Entry, IRCC's website explicitly states equity is not acceptable as proof of funds.
- For a study permit, there's no equivalent explicit statement, but the practical consensus is the same — visa officers expect savings and demonstrably available funds, not investment holdings that can fluctuate in value or take time to liquidate.
- Immovable assets (property) and equity profits shown via ITR are not treated as equivalent to liquid savings. Even with income tax returns showing equity profit, this doesn't substitute for actual bank savings.
If your funds are mostly tied up in equity or property, the safer path is to convert enough into a savings account (allowing time for the funds to 'season' — many visa officers look favourably on funds that have been sitting in the account for a while) well before applying, rather than relying on investment statements or asset valuations.