nnfall said:Hello
I am planning to settled in Toronto. I would like to sell my property. My question is: How can I transfer money from Bangladesh to Canada? As the country have limitations to carry foreign currency (up to 5 k USD). Please reply if you someone have idea.
Dear Nnfall,
A very tricky but valuable question! It is actually very difficult to transfer money from Bangladesh to any foreign country in legal way. The ways are very limited and there is amount restriction. Let me summarize:
1. As tourist you are allowed to take with you US$5000.00 per person while travelling to any non-SAARC country. However, bank's will only issue US$2000.00 as cash and the rest as TC.
2. You can open an RFCD account with any local/foreign bank, deposit USD there and then transfer the money to your Canadian account. However, you need to make a foreign trip before depositing the USD to this account. The transfer of USD is allowed without any restriction.
Hopefully this clarifies a little. I am not aware of any other legal ways to transfer money to Canada.
Regards,
Fuad