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imransyed

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Feb 26, 2020
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So with the recent interest rate hike by US Fed, all floating exchange rate currencies will take a hit, including sadly the Cad$
Has anyone figured out how to open a USD bank account in Canada? I don't want to save money in any floating currency right now.

For others who care, whats the best, if any, interest rate that is available and from which bank?
 

cansha

VIP Member
Aug 1, 2018
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I have friends in Canada who work in professional trades and they are making a killing. $400 days are almost the norm and $1000 ones are not that uncommon too. They way I see things, I will get into trades too and setup my own company in the long run, and leave my career behind. I am not passing on $200k yearly just for the sake of working in an office or whatnot. If Canada is needing a painter/plumber/electrician, I am becoming one. Adapt and Overcome.
There is no doubt that trades people make a lot of money but also talk to some of the older trades people to find out what kind of toll it takes on their body and how they feel when they are a little older. A good gauge of how good a profession is if people in it would want their kids to do it. So, a doctor would surely like his / her kid to be doctor or engineer. How many trades people really "dream" that their kid will grow up and become another plumber or carpenter? There are two sides of the coin here. But yes, in the short term if you have the skills and will being a tradesperson would be much better way of making money outside of being in tech. All other professions are exploited and have low wages in Canada.
 

RSub

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Aug 23, 2021
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12-11-2020
Guys, I will be "soft landing" next week. I have a query.
While I will try to avoid letting the CBP officer know that I will not be moving permanently soon but later, in an assumption that CBP officers think (or I am able to convince) that I am moving permanently the same day and has agreed to initiate my PR card, can I come back to the US and shift my stuffs later on? In this case, when should I produce the goods to follow list? (I plan on travelling twice from US to Toronto to shift my stuffs using a rental truck).
 

RSub

Champion Member
Aug 23, 2021
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So with the recent interest rate hike by US Fed, all floating exchange rate currencies will take a hit, including sadly the Cad$
Has anyone figured out how to open a USD bank account in Canada? I don't want to save money in any floating currency right now.

For others who care, whats the best, if any, interest rate that is available and from which bank?
Is there a thing like that?
 

prash42

Hero Member
Jun 1, 2014
291
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I commend you for adapting to the Canadian economy, and deciding to go into the trades. Some disagreements on your other points - let me say upfront that these are not strongly-held personal opinions, but merely an attempt to understand why Canada is DESPERATE for immigrants.

Canada's total fertility rate is 1.5 children per woman, well below replacement rate 2.1. In virtually every country, as education levels rise, fertility rates drops. For example, India's fertility rate dropped below replacement rate last year. Government incentives have no lasting impact on birth rate. Take the example of Sweden and Denmark, which top global rankings for the amount of child support benefits that their governments gives new parents. Their total fertility is about 1.7 to 1.8 children per woman, similar to the US which has lousy child support benefits. Turns out that portraying Sweden as a role model for fertility-boosting government policy, does not stand up to scrutiny. https://www.forbes.com/sites/ebauer/2019/08/09/is-sweden-our-fertility-boosting-role-model

Secondly, it is FAR cheaper for Canada to bring in new immigrants (who are already in their productive years), than providing incentives to current Canadians to have babies. Those newborns are a cost to the economy for 20+ years before they start contributing. Before somebody berates me for saying this, I'm talking about creaking government finances, not putting a price tag on what babies are worth. Also immigrants tend to have more children than native-born Canadians, so immigration also provides a modest second generation boost to population.

Thirdly (and *MOST IMPORTANTLY*), CPP will be bankrupt unless Canada brings in new immigrants. Take a look at the table in section 14 of this report https://www.tpsgc-pwgsc.gc.ca/recgen/cpc-pac/2021/vol1/s6/supp-pension-eng.html . "Closed Group" refers to Canadians currently contributing to / receiving benefits from CPP, and there is a mammoth shortfall of $885 billion. But under "Open Group" accounting which includes current as well as future Canadians, CPP has enough assets to cover its future liabilities. Open Group only works if Canada has massive immigration.

Canada works well for people who have been here for a long time, because the bill will fall due on future generations, and particularly hard on future immigrants.

Canada also makes sense for a small subset of highly successful professionals, who have saved a ton of money early in their careers in the US / Asia, and are looking for an easier / less stressful continuation to their career. I have friends in their early/mid 40s, who are considering immigrating from the US. Sounds counter-intuitive, but it happens in certain instances. On the other hand, when ambitious younger cousins / family ask me whether they immigrate to Canada, my advice is to come only if their H-1B gets rejected.

That 100 million target has been suggested by ex-prime minister Brian Mulroney.

Reaching that goal by 2100, you would basically have more than 50% immigrants in the country. In what world do they think that is a good idea first and secondly, who would allow such a thing to happen. Even if both Liberals and Conservatives would agree on it, a third party will show up in the political scene and take charge. It will be inevitable. The latest democratic country to manifest this is Italy in September, Georgia Meloni becoming prime minister.

If Canada is really concerned about the birth rates, why no offer incentives for every child being born. My third world country offers $1,200 as a bonus for the first child and it increases for every child you will have. Its something. I bet if they offer like $10k-$20k per child they would bring a lot of LOVE into the air instantly. If you think about it, its nothing. 350k children are born every year, with the incentive that might reach 1 million or more perhaps. $20 Billion spent in helping parents deal with their new borns will be a direct investment into the economy, literally. Money for milk/food/diapers/check-ups/etc. Those who are on the verge of thinking to be parents or have a second baby will jump ship in a heart beat. Sooner or later someone will come up with this idea and probably become a Prime Minister. I would vote on the spot for him/her.

They keep complaining that there is a huge lack of doctors/nurses/plumbers/carpenter/etc, then for GOD's sake invite them as an absolute freaking priority. Leave the grandpas and grandmas aside for a while, they don't need the freaking PR, they can get along fine with a supervisa. Ridirecting those 28,000 reserved for them to doctors/nurses, you would solve an actual immidiate national emergency. But no, they wont do that.

I have friends in Canada who work in professional trades and they are making a killing. $400 days are almost the norm and $1000 ones are not that uncommon too. They way I see things, I will get into trades too and setup my own company in the long run, and leave my career behind. I am not passing on $200k yearly just for the sake of working in an office or whatnot. If Canada is needing a painter/plumber/electrician, I am becoming one. Adapt and Overcome.
 
Last edited:

GandiBaat

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Dec 23, 2014
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Is there a thing like that?
Yes! There is! All the proceeds from sales of few shares that I sold during pandemic peak is in form of USD. Canadian banks can open USD account!
 

GandiBaat

VIP Member
Dec 23, 2014
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In virtually every country, as education levels rise, fertility rates drops.
Its more of a function of women empowerment. You give option of career and education to women, fertility rate drops. But then, doing otherwise is just cruel and unacceptable.

Kids also are a big distration. My wife is doing her Phd after becoming a mom. Its HARD. No wonder women prefer to push their career and then have kids.
 
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Mashathebear

Full Member
Mar 11, 2022
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AOR Received.
26-10-2022
Background status changed to" we are processing your background check" 06 October 2022
Adr status changed to" 17 October we are reviewing your additional documents " 19 October 2022
Ghost update 01 November 2022
Any idea when to expect ppr?
Based on this : https://www.justforcanada.com/9-from-aor-to-ppr.html#/, you are in stage IP2.
"After completion of the IP2 stage, the Passport Request (PPR) e-mail is sent if the applicant already paid the Right of Permanent Residence Fees upfront. PPR e-mails are taking 7-20 days after the IP2 stage... "
 

GandiBaat

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Dec 23, 2014
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11-01-2022
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Not Applicable, Old Meds
Med's Done....
Old Medical
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22-02-2022
VISA ISSUED...
22-02-2022
LANDED..........
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I imagine some kind of tests are mandatory before jumping into the profession and I fully back that up, but they should come up with a plan or shortcut for 1-2 years to allow the positions to be filled ASAP.

Some kind of exception that wont compromise the professions. "Nothing changes, if nothing changes."
Oh ! This situation is even more funny if it was not so tragic.

In 1990s, BC government found that they were training too many doctors. So they reduced the number of seats in medical schools and reduced the seats of residency. This means over all these decades this shortage of doctors kept on building slowly and slowly. Also, if you reduce the number of seats for residency, you basically create a bottle neck for immigrant doctors who want to practice.

This is why this situation is so hard to fix. You will need to increase residency seats (something college of physicians in BC totally HATE). Then only you can increase doctors in the province.

An immigrant doctor needs to re-do their residency to get used to medical system in Canada.
 
D

Deleted member 1083629

Guest
US is pretty straight forward. As a non-India, non-Chinese: Get your masters outside or inside USA. EB-2 NIW FTW! You do not even need a job offer IIRC.
With job, EB2 is your friend.

Only Chinese and Indians have trouble immigrating.
Thanks my guy. But at this stage, I don't want to go through the whole process of another immigration. I finally got something permanent and I am not looking at another country until I get my citizenship. At that point, it depends on my career. If I won't be driven by money and career anymore, I would move to south of Europe and do some consulting gigs. If I would feel like I want more out of my career, then TN visa.
 

Dentist342

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Aug 22, 2022
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Any idea when to expect ppr?
Ppr 02 November 2022
 

ElvisRamaj

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Apr 26, 2021
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ElvisRamaj said:

That 100 million target has been suggested by ex-prime minister Brian Mulroney.

Reaching that goal by 2100, you would basically have more than 50% immigrants in the country. In what world do they think that is a good idea first and secondly, who would allow such a thing to happen.
GandiBaat said:

May I know what is fundamentally wrong with it? If a country is incapable of producing enough children to support its society then it has two options:

1. Die off
2. Allow others in

Also given the size of Canada, it only makes sense to attract more people otherwise it will remain a small and prosper country population and economy wise. Such countries eventually loose their sovereignty. If you are juicy, grow some spikes or you will get eaten.
Sure, I will just be very brief.

National identity for starters. At 50% immigrants you basically have no identity and that matters a lot in almost every aspect of life inside the country and outside of it. No amount of laws and order can help you in this case. you just lost the battle here. Quebec will be seperated from the rest of Canada as soon as you reach 30-35% total immigrants. Last time they went for a referendum, only 50,000 votes were in favor to stay united.

I am not going to details how immigrants bring their mentality and way of life with them, the further from 30 they are the more unchangeable they become. It will take a very long time for them to get used to the new way of life they find themselves in. No amount of sisters or brothers can help you in this regard, its something that you have to figure out for yourself. Even if you came from USA to Canada it will take a bit to get used, let alone if you come from a different continent.

ElvisRamaj said:

Even if both Liberals and Conservatives would agree on it, a third party will show up in the political scene and take charge. It will be inevitable.
GandiBaat said:

TILL DATE with 400K immigration, Canadians do not seem to mind. Infact support for higher level of immigration only seems to go up and up. There is a small vocal minority against more immigration but they are not large enough. EVEN alberta has 60% people supporting more immigration.

My question is besides your gut feeling, where is the concrete data to support hat such a party will find ANY takers. We already have one such party. Its called Progressives Party of Canada. It has no such takers.
What you mean by data, you want me to reference you to countries already experiencing this anti-immigration feeling. Sure.

France, Sweeden and the latest Italy. Waiting for Germany to get in the train and you will see Europe changing 180 degrees. UK already toughing their borders month by month.

Immigration should be used to solve a problem, in our case job shortage, not create other nations within a nation because you have land to support it. The current immigration system is absolutely worthless. They have 1 million vacancies as of now, they have awarded 200k places for FHS+PNP for 2023. Out of those, almost half are family members accompagnying the primary applicant, and on top of that the primary applicant is most of the times someone with a different background/profession which is in desperate need Canada.

So, the job problem is not solved and you brought a lot of people who will certainly change professions/careers because there is no other way to support themselves of family.

ElvisRamaj said:

If Canada is really concerned about the birth rates, why not offer incentives for every child being born.
GandiBaat said:

It seems weird but there are enough incentives already. The issue is this: Most of educated people delay the child till their 30s. And then it gets harder. High cost of living further pushes children back. Put it simple, a lot of people in Canada can not be bothered with children. Its not money, its effort too. My wife who used to be totally mushy mushy about kid before pregnancy now is absolutely against another one

Sad but true, we are become more self centered in that way.
I am glad you arrived in this conclusion, which is the more developped/educated a nation is/becomes the less babies it will have. Its not that we become more self-centered, its because we will think more about it and every stage aswell and come to the conclusion that sometimes we can't handle it financially/sometimes emotionally.

ElvisRamaj said:

My third world country offers $1,200 as a bonus for the first child and it increases for every child you will have.
GandiBaat said:

BC recently offered $10 daycare. For something that used to cost a LOT. Take a look at denmark. They offer almost free childcare. their female fertility rate is 1.67. Below replacement.

Its a problem you can not fix by throwing money on it.

You want to fix it? You will have to dilute women's right. That, if it happens, will turn me in to a real hardcore extremist against oppression of women. And I am not alone.
The above argument still stands here as well.

If you can't fix it with money, then you are not spending enough or where it is needed.

ElvisRamaj said:

I bet if they offer like $10k-$20k per child they would bring a lot of LOVE into the air instantly.
GandiBaat said:
Oh they do. They offer a lot of incentives. LONG fully paid maternity/paternity leaves, free care during maternity phase... you name it. Recently they are even offering very economical daycare too at provincial level People are JUST not that much into it. Again, refer to my example of Denmark.
If a couple makes $200k+ NET a year combined, I would think $20k doesn't make a difference.

A family between $80k - $130k NET a year it matters, and those below those levels its almost a necessity.

ElvisRamaj said:

Those who are on the verge of thinking to be parents or have a second baby will jump ship in a heart beat.
GandiBaat said:
HAHA!

Tell it to my wife. Its a NYAT. She hates her first and second and third trimester. There are women who get addicted to having babies but they are in minority. Put it simply, pregnancy is PAINFUL!

Again, refer to Denmark and nordic countries as "ideal". Their fertility rates are all below replacement rate.
From this answer alone, I can guess that you guys fall in the $130k+ NET a year salary combined, probably $200k+, so I guess I answered this already.

ElvisRamaj said:

They keep complaining that there is a huge lack of doctors/nurses/plumbers/carpenter/etc, then for GOD's sake invite them as an absolute freaking priority. Leave the grandpas and grandmas aside for a while, they don't need the freaking PR, they can get along fine with a supervisa. Ridirecting those 28,000 reserved for them to doctors/nurses, you would solve an actual immidiate national emergency. But no, they wont do that.
GandiBaat said:

Here is the deal. People have family. And if you do not allow family migration, people tend to make money and leave your country. Family is the anchor that keeps you attached to the country. If they could, they would have removed it completely. BTW, 28K is drop in the bucket.
Sure, that why you have a Super Visa and they can stay up to 5 years with you uninterrupted. They need to have PR as well ?

They are retired, what do they contribute to Canada, except emotionally/mentally helping their immidiate family members ? They are actually a cost.

If you were to bring your both parents and you already have a wife and two kids, according to IRCC if you have a GROSS income of $60,228 you are eligible to do that.

Tell me one place in Canada were 6 people can live off with that income. Remember that is GROSS, not NET.

ElvisRamaj said:

I have friends in Canada who work in professional trades and they are making a killing. $400 days are almost the norm and $1000 ones are not that uncommon too. They way I see things, I will get into trades too and setup my own company in the long run, and leave my career behind. I am not passing on $200k yearly just for the sake of working in an office or whatnot. If Canada is needing a painter/plumber/electrician, I am becoming one. Adapt and Overcome.
GandiBaat said:

Actually its pretty common in many punjabi families. People come to canada, they do one of those lambda univ courses and then they become PR and move to trades. Then they help their cousins and brothers and friends to come here. They at times buy large houses and live in multiple family setup. This lowers their cost of living and solves high real estate price to an extent. Two-three brothers living in same house and working in trades can easily rake up 300K or more.

That being said, trades jobs are messy. Some people do not want to do it. But they are very legit and very nice way of climbing the financial ladder, especially if you have a joint family setup.
Yup, as you said, in a lot of punjabi families, a.k.a immigrants, not Canadians. Not continent Europe as well.

As for trades, I will be doing them to climb the financial ladder. In trades, you can either be a tradesman or a contractor, I would be leaning to become a contractor ASAP using my background/education. No time to waste.

I would like to reference a quote from a movie here about Harvard, not related, but still :

"We don't prepare people here to go out and secure a job, we prepare them to go there and create them".

Lol, thats my motto, somehow.