As an international student studying in Canada, passive income can help you supplement your existing financial resources.
This will potentially help you alleviate some of the financial burdens associated with education and living expenses in Canada.
In Canada, there are diverse opportunities for international students to explore in their pursuit of passive income.
These opportunities can range from traditional investment vehicles to digital platforms and entrepreneurial ventures.
In this article, we will explore the 9 best passive income ideas for international students in Canada.
Let’s get started!
Table of Contents
#1. Newcomer Promos
Newcomer promos are considered one of the best passive income ideas for international students in Canada.
Many banks, credits, Fintech, and other financial institutions usually provide special promotions and incentives to newcomers in Canada.
These promos are designed to attract and retain customers by providing them with valuable discounts, rewards, or cashback offers.
All the five big banks offer promotions for newcomers in Canada. Let’s explore some of the newcomer offers of each of the big banks.
- RBC Newcomer Advantage offers up to 6% cash back on a new RBC Cash Back Mastercard for the initial 3 months
- TD Unlimited Chequing Account offers up to $300 cash back
- BMO Performance Chequing Account with the BMO offers up to a $400 welcome bonus
- Scotiabank StartRight program offers access to free international transfers and customized solutions for newcomers. Learn more about Scotiabank’s offers for newcomers.
- CIBC Smart Start and CIBC Smart for Students offer $120 for newcomers
Learn more about bank account promotions for newcomers in Canada.
As an international student, you can take advantage of newcomer promos by signing up for various services such as mobile phone plans, internet subscriptions, bank accounts, credit cards, and insurance policies.
These promotions often provide significant savings or exclusive benefits, allowing you to reduce your expenses and put some money back in your pockets.
#2. Online Tutoring
With the growing demand for virtual education and the accessibility of online platforms, you can leverage your academic expertise to provide tutoring services to students across the globe.
This not only allows you to earn a steady income but also enhances your teaching and communication skills.
Online tutoring provides flexibility as you can schedule sessions based on your availability, ensuring it does not interfere with your studies.
To get started, you can join reputable online tutoring platforms that connect tutors with students worldwide. This includes.
These platforms handle administrative tasks like scheduling, payments, and marketing, allowing students to focus solely on delivering quality tutoring sessions.
You can also establish your own online presence by creating a website or using social media platforms to promote your services.
Freelancing offers flexibility, the opportunity to utilize one’s skills, and the potential to earn a steady income while managing academic responsibilities.
With freelancing, you can work on projects remotely, eliminating the need for a physical presence or fixed working hours.
This flexibility is especially beneficial for international students who may have varying schedules due to their academic workload or part-time jobs.
As a freelancer, you can leverage your expertise in various fields such as
- Graphic design
- Web development
- Translation or
- Digital marketing
Online platforms like Upwork, Freelancer, and Fiverr provide a vast marketplace where freelancers can connect with clients and offer their services.
By building a portfolio of successful projects and maintaining a positive reputation, you can attract more clients and potentially increase your earning potential.
You can also establish long-term relationships with clients, leading to recurring projects and a stable income stream.
#4. Affiliate Marketing
Affiliate marketing stands out as one of the best passive income ideas for international students in Canada.
It involves promoting products or services offered by companies and earning a commission for each sale or referral generated through your unique affiliate links.
This passive income idea is particularly attractive to students due to its low startup costs and flexible nature, as it can be pursued online and integrated into your existing routines.
You can leverage your online presence and networks to promote products or services that align with your interests and target audience.
You can create content such as blog posts, social media posts, or YouTube videos to endorse and recommend relevant products, using your affiliate links to track conversions.
With Canada’s multicultural environment, international students can tap into niche markets by promoting products that cater to specific cultural backgrounds or international student needs.
#5. Online Surveys
Online surveys allow you to earn money by sharing your opinions and providing feedback on various products, services, and market trends.
Engaging in online surveys offers several advantages for international students.
- First and foremost, it is a flexible option that can be done at any time and from anywhere with an internet connection.
- It also requires minimal effort and does not demand specialized skills or prior experience.
You can simply register with your favorite survey websites, create a profile, and start applying for or receiving survey invitations.
While the income generated from online surveys may not be substantial, it can be a reliable source of supplementary funds. You can use this income to cover small expenses, such as transportation, meals, or entertainment.
By taking advantage of online surveys, you can make productive use of your spare time while earning extra income to support your financial needs.
#6. Product Testing
Product testing is another best passive income idea for international students in Canada.
This approach involves participating in market research studies where you test and provide feedback on various products and services.
Companies are constantly seeking consumer insights to improve their offerings, and they are willing to compensate individuals for their time and opinions.
As an international student, engaging in product testing can be a convenient and flexible way to earn extra income.
Many research companies allow participants to choose the assignments they want to participate in, providing the freedom to work around their academic schedules.
Moreover, product testing often takes place remotely or through online platforms, making it accessible to students regardless of their location.
You will not only earn money by becoming a product tester, but you will also have the opportunity to experience and provide feedback on a wide range of products and services.
This can be a rewarding experience, as you can influence the development of new and improved offerings and contribute to the consumer market in Canada.
Below are some of the top product testing companies in Canada:
- Product Report Card
- Ipsos i-Say
- Pinecone Research
- User Testing
- Home Tester Club
- Toluna Product Testing
#7. Online Course/e-Book Sales
With the rise of digital platforms and the increasing demand for knowledge-based products, online courses, and e-books have become popular avenues for generating passive income.
Creating an online course or writing an e-book allows you to monetize your knowledge and expertise.
You can create content related to your academic disciplines, language proficiency, cultural experiences, or any other area of interest.
Also, online courses can be created in various formats, such as
- video lectures
- written materials,
- quizzes, or
- interactive modules
e-Books, on the other hand, offer the flexibility to showcase in-depth knowledge or personal experiences in written form.
By marketing and selling these products through established platforms (e.g. Udemy, Teachable, and Amazon Kindle) or your own website, international students can reach a global audience and earn passive income while they sleep.
#8. Mystery Shopping
Mystery shopping involves assessing the quality of products, services, and customer experiences at various establishments on behalf of companies.
It offers students the opportunity to earn money while gaining insights into different industries and enhancing their observational and analytical skills.
As a mystery shopper, you can choose from a wide range of assignments, such as evaluating customer service at retail stores, restaurants, and hotels, or even assessing the effectiveness of marketing campaigns.
You can sign up with legitimate mystery shopping companies that connect you with relevant assignments. These companies include:
The beauty of mystery shopping is its flexibility. You can schedule your visits to the designated establishments at your convenience, allowing you to manage your time effectively alongside your studies.
#9. Virtual Assistant
Another highly viable passive income idea for international students in Canada is to work as a virtual assistant.
With the rise of remote work and the increasing demand for virtual support services, becoming a virtual assistant offers flexibility and the potential for steady income.
As a virtual assistant, you can provide administrative, organizational, and creative support to clients remotely. This could involve:
- managing calendars,
- scheduling appointments,
- handling email correspondence,
- conducting research,
- social media management,
- content creation,
- and more.
The beauty of this opportunity lies in its adaptability to various skill sets and interests.
You can explore your language skills, organizational abilities, and familiarity with technology to excel in this role.
The advantages of working as a virtual assistant are numerous.
- You can set your own hours and workload, allowing you to balance your studies and personal life effectively.
- You can work from the comfort of your own home, minimizing commute time and expenses.