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Can a Tax Free Savings Account (TFSA) be used as proof of funds for immigration purposes?

Tax Free Savings Account TFSA Proof of Funds Visa Application Liquid Assets Investments Canada Expat Finance

Nov 26, 2024

22 days ago

Anonymous *************

ORIGINAL POSTER

Do Tax Free Savings Account (Canada) work to show as proof of funds? In my bank statements it is under "investments", but in fact I can withdraw money from it.

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TLDR : Answer Summary

The effectiveness of using a Tax Free Savings Account (TFSA) as proof of funds for visa applications in Canada varies by location and specific requirements. Some users reported that TFSAs were accepted as part of their proof of funds, while others noted the need for liquid assets that are immediately available. Therefore, it is advisable to check the specific requirements of the visa application process where you are applying.

Jasmine ********

TFSA and investments should work. It may depend where you apply. I applied through the embassy in Hanoi as I am already over here. The statements I provided were all investments. Mutual funds, RRSP and TFSA held in Canada. Approved, no issue. I provided no statement that would be a liquid asset.

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Helen ********

Unlikely that TFSA or investment will work. We applied to Vancouver and it needed to be liquid assets immediately available

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Michi ********

It depends on where you apply but I had some in my proof of funds and they didn’t acknowledge it nor question it. I did have my proof of funds from a few banks.

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Michi ********

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