Is GIC Mandatory for a Canadian Student Visa?

Yes, the Guaranteed Investment Certificate (GIC) is compulsory for most students applying for a study permit to Canada under the Student Direct Stream (SDS) program, particularly if you are from countries like India, China, the Philippines, or Vietnam.

The GIC serves as proof of financial support to cover living expenses during your studies in Canada. It ensures that you have access to a guaranteed amount of funds to support yourself while you are studying. The GIC is intended to show that you have enough money to live and study in Canada without facing financial hardship.

Here’s how the GIC works:

• You need to invest a minimum of CAD 10,000 in a GIC with a participating Canadian bank (the bank will provide you with a certificate to submit with your study permit application).

• The funds are then released to you in installments over the course of your first year in Canada (usually monthly payments).

If you're applying through the regular study permit process (not under the SDS), a GIC may not be required. However, you will still need to demonstrate sufficient financial resources to support your studies, typically through bank statements or other financial documents.

It's a good idea to check the specific requirements for your country and application process, as these can vary.