BSP Guidelines on Cross-Border Currency Transfers The Bangko Sentral ng Pilipinas (BSP) has issued clear guidelines to regulate cross-border transfers of local and foreign currencies. These rules aim to strike a balance between facilitating legitimate transactions and preventing illicit activities. Let’s delve into the specifics: 1. Transfer of Legal Tender Philippine Currency (PHP) Limit : Individuals are allowed to freely bring into or out of the Philippines, or electronically transfer, legal tender Philippine currency up to PHP50,000 . Exceeding the Limit : Amounts exceeding the PHP50,000 limit require: Prior Authorization : Individuals must obtain prior written authorization from the BSP. Physical Transfer : In the case of physical cross-border transfer of Philippine currency, the entire amount brought into or out of the Philippines must be declared using the prescribed Currencies Declaration Form (CDF) . 2. Transfer of Foreign Currency and Foreign Currency-Denominated I...
Canada remains a top-tier destination for international students, drawing talent from across the globe. But did you know that you can now study in Canada without a study permit if you meet specific conditions? While many still navigate the traditional process of obtaining a study permit in Canada, recent changes by Immigration, Refugees and Citizenship Canada (IRCC) open new doors for foreign workers already living in the country.
Let’s explore how this policy works, who qualifies, and why it’s a game-changer for those who dream of advancing their education while already holding a Canadian work permit.
✅ Who Can Study in Canada Without a Study Permit?
In a progressive shift introduced in 2023, Canada now allows certain work permit holders to study without a study permit. This is part of a temporary public policy aimed at making education in Canada more accessible for those already contributing to its workforce.
To qualify under this policy, the worker must have:
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Submitted a work permit application on or before June 7, 2023
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Received confirmation that the application was received by IRCC by that date
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A valid work permit or maintained status if an extension is under processing
This exemption is valid until June 27, 2026, offering a generous window for those eligible to enhance their qualifications.
📅 Eligibility Rules and Validity Period
If you are among the lucky group that applied on or before June 7, 2023, you can study for the entire duration of your valid work permit. You can even continue your studies while your work permit extension is under review—as long as the extension was applied for by the deadline and remains pending.
However, if your application was submitted after June 7, 2023, you are not eligible for this permit-free study path. In that case, you must follow the standard procedure to obtain a study permit before enrolling in any academic program.
The final expiry date of this temporary policy is June 27, 2026, regardless of your permit's individual expiration.
📝 How to Inform Educational Institutions of Your Exemption
Canada’s Designated Learning Institutions (DLIs) require proof that you are legally allowed to study without a permit. To comply with this policy and gain admission, you must present one of the following:
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Your valid work permit
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An Acknowledgment of Receipt (AOR) from IRCC showing timely submission of your extension
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A letter of work authorization confirming your status
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An official IRCC email confirming your eligibility under the new study permit exemption policy
Make sure your documents are up to date and clearly reflect your eligibility status to avoid delays in your enrollment process.
🌟 Why This Matters: Benefits of Studying Without a Permit
This rare opportunity is about more than just avoiding red tape. It’s a strategic advantage for foreign workers who aspire to build a life in Canada:
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Gain Canadian academic credentials without waiting for a study permit
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Boost your chances of securing a Post-Graduation Work Permit (PGWP)
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Use your Canadian education and work experience to increase your Express Entry CRS score for Permanent Residency (PR)
By removing bureaucratic hurdles, Canada is encouraging skilled workers to become lifelong contributors to its economy and society.
🌍 Canada’s Education System: A Stepping Stone to the Future
Currently, more than 400,000 Indian students alone are pursuing education in Canada—a testament to the country's world-class education system and welcoming immigration pathways. This new policy strengthens Canada's commitment to making higher education inclusive and adaptable for all.
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