Canada and Proof of funds.
- Thread starter josinyc
- Start date
You do not have to enter Canada with any amount of money. What you have to do is to prove that you have that amount readily available. If you can take cash out of an ATM in Canada with your country's bank card, and if you don't mind paying service fees, you can simply bring your card, and a bank account statement (in case you're asked at the border).josinyc said:I will have to enter with $ 16,250.00 for a family of three. My question is: Do I enter with this whole amount in cash or do I enter with only part of it? what about the rest? Will I have problem if I take the whole thing is cash?
Thanks.
If your finances are not too complicated (ie., if all you have is a checks account and perhaps a savings account), one alternative is to transfer it all to HSBC in your country, and they will take care of transfering the whole thing to Canada (for a fee, of course).
The check I had brought with me was a cashiers check from my bank made out to a bank in Canada. I bought the check in my bank and paid some fees and they sent the money for the check to the bank in Canada so I could cash it there.
I am sure your bank can do something similar, either a check made to a bank in Canada or an international money order.
I am sure your bank can do something similar, either a check made to a bank in Canada or an international money order.
If you arrive in Canada with more than C$10,000, you must disclose this information to the CBSA officer. If you do not disclose this information, you could be fined or put in prison. These funds could be in the form of:
cash
securities in bearer form (for example, stocks, bonds, debentures, treasury bills) or
negotiable instruments in bearer form, such as bankers’ drafts, cheques, travellers’ cheques or money orders.
cash
securities in bearer form (for example, stocks, bonds, debentures, treasury bills) or
negotiable instruments in bearer form, such as bankers’ drafts, cheques, travellers’ cheques or money orders.
something more:-http://www.cic.gc.ca/english/immigrate/skilled/funds.asp
The amount of money you need to support your family is determined by the size of your family. These amounts are updated every year.
Number of
Family Members Funds Required
(in Canadian dollars)
1 $10,601
2 $13,198
3 $16,225
4 $19,700
5 $22,343
6 $25,199
7 or more $28,055
You do not have to show that you have these funds if you have arranged employment in Canada.
How much money should you bring?
Find out how much it costs to live where you are planning to settle in Canada.
Bring as much money as possible to make moving and finding a home in Canada easier.
Disclosure of funds
If you are carrying more than C$10,000, tell a Canadian official when you arrive in Canada. If you do not tell an official, you may be fined or put in prison. These funds could be in the form of:
cash
securities in bearer form (for example, stocks, bonds, debentures, treasury bills) or
negotiable instruments in bearer form (for example, bankers’ drafts, cheques, travellers’ cheques or money orders).
The amount of money you need to support your family is determined by the size of your family. These amounts are updated every year.
Number of
Family Members Funds Required
(in Canadian dollars)
1 $10,601
2 $13,198
3 $16,225
4 $19,700
5 $22,343
6 $25,199
7 or more $28,055
You do not have to show that you have these funds if you have arranged employment in Canada.
How much money should you bring?
Find out how much it costs to live where you are planning to settle in Canada.
Bring as much money as possible to make moving and finding a home in Canada easier.
Disclosure of funds
If you are carrying more than C$10,000, tell a Canadian official when you arrive in Canada. If you do not tell an official, you may be fined or put in prison. These funds could be in the form of:
cash
securities in bearer form (for example, stocks, bonds, debentures, treasury bills) or
negotiable instruments in bearer form (for example, bankers’ drafts, cheques, travellers’ cheques or money orders).
What happens when I tell the officer in Canada I am bringing more than C$ 10,000.00? Will I be taxed? Also, I am coming with wife and 5 year-old son. I have a bachelor degree. I was wondering what amount would be enough or at least good to maintain us until I get work. I will bringing C$17,000.00 and I am hoping it will be enough. How do you guys think?
It should last you a while if you don't overspend. The minimum amount of money you have to bring as a PR is supposed to be enough to live off for 6 months I think. How far it will stretch depends on which city. With housing you have to pay at least either 1st and last or 1st and damage deposit. Also depends on how much stuff you can bring and how much you have to buy. How fast you can find work etc.
You can google classifieds for apartments in different cities but you should be googling job ads too. High rent is not a problem if it's easy to find a well paying job same as it will not be helpful to get cheap housing if you can't get a job. Alberta is a good province because economy is booming and there are a lot of jobs. At the same time, although housing has been getting more expensive, it still hasn't caught up to more popular cities like Toronto and Vancouver.
Alberta is also a rich province because of the oil sands so as most other provinces have their own sales tax on top of the government 5%, we do not. Some provinces also have a health care fee and we did too but ours is being abolished on January 1 2009. The only problem is that the winters are kind of cold.
Alberta is also a rich province because of the oil sands so as most other provinces have their own sales tax on top of the government 5%, we do not. Some provinces also have a health care fee and we did too but ours is being abolished on January 1 2009. The only problem is that the winters are kind of cold.
visit 2ontario.com .You can find various locations,business ,commercial & residential properties,
Poulation of cities etc.its a useful web site with tremedous information.
Poulation of cities etc.its a useful web site with tremedous information.