Quick Answers
- What does IRCC need? Tuition for one year plus CAD 22,895 cost of living for a single student from 1 September 2025.
- Is the SDS route still open? No. The Student Direct Stream was discontinued on 8 November 2024; all students now use the standard study permit stream.
- What is a GIC? A Guaranteed Investment Certificate of around CAD 20,635, held with a participating Canadian bank, often used as proof of living funds.
- Where does the CA certificate fit? It supports the sponsor's overall net worth and source of funds beyond bank balances and GIC.
- Who issues it? An ICAI-registered practising CA, with UDIN on every certificate.
Canada has tightened study permit rules. With SDS gone and the cost-of-living benchmark raised to CAD 22,895 from 1 September 2025, IRCC officers expect a clean, fully documented proof of funds. A net worth certificate for Canada visa adds depth to the financial story, showing that the sponsor can not only meet the threshold but sustain the applicant through the course. Last Updated: 05 June 2026.
What is a net worth certificate for a Canada visa?
A net worth certificate for a Canada visa is a CA-certified statement of the sponsor's total assets minus total liabilities, used to support an IRCC study permit, work permit or visitor visa application. It complements the GIC, education loan sanction letter and bank statements, presenting a single consolidated view of the sponsor's financial standing.
The CA computes Net Worth = Total Assets minus Total Liabilities and prepares the certificate on letterhead with signature, membership number, firm stamp and an 18-digit UDIN. It is recognised by visa officers as an independent, professional attestation of the financial position behind the application.
Key IRCC terms in one line each
- Study permit: the IRCC document allowing foreign nationals to study in Canada at a Designated Learning Institution.
- DLI: Designated Learning Institution, the only schools that can host international students.
- PAL: Provincial Attestation Letter, mandatory from most provinces from January 2024 onwards.
- GIC: Guaranteed Investment Certificate, a Canadian bank product used to prove living funds.
- Cost of living: IRCC's annual benchmark for a single student, currently CAD 22,895 from 1 September 2025.
- UDIN: the 18-digit number that authenticates every CA-issued certificate under ICAI rules.
IRCC cost of living benchmark from 1 September 2025
| Family size | Cost of living per year (CAD) |
|---|---|
| 1 (student alone) | 22,895 |
| 2 | 28,502 |
| 3 | 35,040 |
| 4 | 42,543 |
| 5 | 48,252 |
| 6 | 54,420 |
| 7 | 60,589 |
Quebec sets its own cost-of-living amounts. Tuition for the first year is added on top of the cost of living. Travel expenses are also reviewed by the officer when assessing the file.
Where the net worth certificate adds value
- It explains the source of the GIC top-up and tuition deposits, linking them to sponsor net worth.
- It demonstrates that even after meeting IRCC benchmarks the sponsor retains substantial assets in India.
- It supports an education loan sanction letter as part of the proof of funds, especially for non-SDS-style applications.
- It strengthens ties to India through immovable property and long-term holdings, an important factor for visitor and study permit interviews.
Documents the CA typically needs
- PAN, Aadhaar and passport copies of sponsor and applicant.
- Latest 2 to 3 years of ITRs and computation for the sponsor.
- Salary slips, Form 16 or audited financials for business sponsors.
- Bank statements for the last 6 months across all accounts.
- FD receipts, mutual fund and demat statements, PPF/EPF balances.
- Property documents with fair value or registered value evidence.
- Loan sanction and outstanding balance certificates for liabilities.
- GIC purchase receipt, tuition payment proof and DLI/PAL letters.
Common mistakes to avoid
- Showing only the GIC and ignoring living funds beyond the first year.
- Issuing the certificate without UDIN or with an outdated UDIN.
- Omitting liabilities, which contradicts CIBIL and tax records.
- Using an old certificate that does not match the current cost-of-living benchmark.
- Confusing Quebec rules with the IRCC general benchmark; Quebec has its own process.
FAQs
Is a net worth certificate mandatory for a Canada visa? No, but it is widely used to strengthen study permit and visitor visa files.
Does the certificate replace the GIC? No. The GIC is a separate, dedicated proof of living funds. The certificate adds context.
What about the SDS route? SDS closed on 8 November 2024. All students now follow the standard stream, where IRCC reviews funds in detail.
Should values be shown in CAD? A dual INR-CAD format is preferred for clarity, using a reasonable reference rate.
What is IRCC's cost-of-living benchmark? CAD 22,895 per year for a single student, with higher amounts for accompanying family members, from 1 September 2025.
Can NRI parents sponsor? Yes, with their global assets disclosed and bank statements supporting the certificate.
How recent should the certificate be? Issue it within 3 months of the application to align with the GIC and bank statements.
Is the certificate useful for visitor visas to Canada? Yes. It is helpful when the visitor is sponsored by family in India.
What if my sponsor has a business? Audited financials, ITRs and business bank statements form the base; the CA prepares the certificate accordingly.
About the author
CA Sundaram Gupta
Chartered Accountant at Regikart. Want to discuss this in the context of your business?
