How much money could some one bring to Canada (International Students)

[Simkr]

Hi all,

One of my friends is coming to Canada to pursue a 8-month three term language course. The total tuition fees for this three term course is 10200, and fees for the term first (3400 CAD) should be paid by next month since the course ll be started in January 2014. So, a fees of 6800 CAD ll be paid before second term starts.

He is already got visa (he showed equivalent to 16,000 CAD in his account).

So my question for you guys is how munch money he can bring to Canada. i guess 6800 (remaining tuition fess)+ approximately similar amount for accommodation and food (total 13600 CAD) will be sufficient. Can he bring this amount of money in cash? if yes, then he has to declare while landing to Canada or he can bring half of money in Cash and rest money can be sent by his family members by Western Union later on. In this case, he ll be able to get study permit at the port of entry since immigration officer may ask about money and he/she finds out lack of money, permit could be refused.


Thanks in advance

 

[PMM]

Hi

Hi all,

One of my friends is coming to Canada to pursue a 8-month three term language course. The total tuition fees for this three term course is 10200, and fees for the term first (3400 CAD) should be paid by next month since the course ll be started in January 2014. So, a fees of 6800 CAD ll be paid before second term starts.

He is already got visa (he showed equivalent to 16,000 CAD in his account).

So my question for you guys is how munch money he can bring to Canada. i guess 6800 (remaining tuition fess)+ approximately similar amount for accommodation and food (total 13600 CAD) will be sufficient. Can he bring this amount of money in cash? if yes, then he has to declare while landing to Canada or he can bring half of money in Cash and rest money can be sent by his family members by Western Union later on. In this case, he ll be able to get study permit at the port of entry since immigration officer may ask about money and he/she finds out lack of money, permit could be refused.


Thanks in advance

1. As much as he can carry. Any amounts over $10k must be declared on entry. There is no taxes or duties, but it must be declared.
2. It is not a good idea to carry that amount of cash. A little cash, some T/Cs or international money order.
3. If he isn't able to show that he has the settlement funds or proof of same, he can be refused on entry.

 

[Simkr]

Thanks PMM.
One more question:
if he is carrying over 10,000 CAD/USD (in any form T/C as plus some cash). Does he need to have proof how he earned this money?

Thanks in advance

Hi


1. As much as he can carry. Any amounts over $10k must be declared on entry. There is no taxes or duties, but it must be declared.
2. It is not a good idea to carry that amount of cash. A little cash, some T/Cs or international money order.
3. If he isn't able to show that he has the settlement funds or proof of same, he can be refused on entry.

 

[srisrikanth]

Hi all,

One of my friends is coming to Canada to pursue a 8-month three term language course. The total tuition fees for this three term course is 10200, and fees for the term first (3400 CAD) should be paid by next month since the course ll be started in January 2014. So, a fees of 6800 CAD ll be paid before second term starts.

He is already got visa (he showed equivalent to 16,000 CAD in his account).

So my question for you guys is how munch money he can bring to Canada. i guess 6800 (remaining tuition fess)+ approximately similar amount for accommodation and food (total 13600 CAD) will be sufficient. Can he bring this amount of money in cash? if yes, then he has to declare while landing to Canada or he can bring half of money in Cash and rest money can be sent by his family members by Western Union later on. In this case, he ll be able to get study permit at the port of entry since immigration officer may ask about money and he/she finds out lack of money, permit could be refused.


Thanks in advance

Hi,

You dont need to show proof of income, but carrying that much money is high risk. hardly per month will cost you CAD500 depends on your lifestyle it may be more. it is better to carry a small amount like 3000 in cash and later after opening the bank account you can get that deposited in to your account.

Thanks and regards,

Srikanth

 

[nikhil1308]

I it is not a big trouble carrying cash but they usually ask you if you have above 10K however it is highly not recommended to carry so mcuh cash. Better idea is definitly to carry app 2000 and opening an account once u come here and then get it transferred.
Fee can be submitted online so you dont have to worry about that your friend can submit from his home country before leaving for canada

 

[Simkr]

Thanks srisrikanth, nikhil1308 and PMM.

From your responses, i have got following conclusions (please correct me if i m wrong):

1. Bring small amount in cash 2,000-3,000 CAD
2. Rest money (10,000 CAD), including tuition fees (which ll be paid at the start of each term though fees for the first term can be paid before coming) can be in form of Traveler`s cheque (since immigration officer may require proof of fund for supporting study and stay at the port of entry)

 

[Simkr]

Financial proof at the port of entry (International Students)

Hi guy,

I would appreciate if someone can provide a bit information on financial proof at the port of entry.

My friend got student visa and he ll be in Canada by next month. My question is :

At the port of entry (Toronto), he has to show financial proof. he ll be carrying 12000 CAD. I suggested him to bring as T/C. my question is what other ways are to carry this money.

 

[mead]

Re: Financial proof at the port of entry (International Students)

Hi guy,

I would appreciate if someone can provide a bit information on financial proof at the port of entry.

My friend got student visa and he ll be in Canada by next month. My question is :

At the port of entry (Toronto), he has to show financial proof. he ll be carrying 12000 CAD. I suggested him to bring as T/C. my question is what other ways are to carry this money.

at POE u will be rarely asked for proof of funds . u can also bring copies of proof that u submitted while applying for visa just in case . U dont have to carry all the money at once u can wire transfer money later this is much more safe than carrying $12000 in T/C . Also if u bring $12000 u will have to declare it at POE even if it is in T/C. best way is to carry $2000-3000 and on a later date when ur bank account is set up in canada (which is after a day or two) u can get a wire transfer done. It is not advisable to carry big amount in cash or travelers cheques as what if u lose it.
http://www.cbsa-asfc.gc.ca/publications/pub/bsf5052-eng.html

 

[Simkr]

Re: Financial proof at the port of entry (International Students)

Thanks mead for your prompt response.

Can he transfer fund via wire while he is already in Canada? are you saying he can do online, which seems unlikely for such amount of money.

at POE u will be rarely asked for proof of funds . u can also bring copies of proof that u submitted while applying for visa just in case . U dont have to carry all the money at once u can wire transfer money later this is much more safe than carrying $12000 in T/C . Also if u bring $12000 u will have to declare it at POE even if it is in T/C. best way is to carry $2000-3000 and on a later date when ur bank account is set up in canada (which is after a day or two) u can get a wire transfer done. It is not advisable to carry big amount in cash or travelers cheques as what if u lose it.
http://www.cbsa-asfc.gc.ca/publications/pub/bsf5052-eng.html

 

[mead]

Re: Financial proof at the port of entry (International Students)

Thanks mead for your prompt response.

Can he transfer fund via wire while he is already in Canada? are you saying he can do online, which seems unlikely for such amount of money.

someone from his home country has to do a wire transfer ...depending on which country he is from some wire transfers can be done online....like for USA I transferred my money online but if i am in india it will be difficult but can be done using banks like ICICI so it depends on the country ur friend is from and his bank in his home country.

 

[Simkr]

Re: Financial proof at the port of entry (International Students)

He is from Ukraine. Dont you think Travelers' cheque is best option.

someone from his home country has to do a wire transfer ...depending on which country he is from some wire transfers can be done online....like for USA I transferred my money online but if i am in india it will be difficult but can be done using banks like ICICI so it depends on the country ur friend is from and his bank in his home country.

 

[mead]

Re: Financial proof at the port of entry (International Students)

He is from Ukraine. Dont you think Travelers' cheque is best option.

well if wire transfer is not an option travelers cheques seems good but carry some cash too. but carry all the receipts that u get when getting T/C.

 

[Simkr]

Re: Financial proof at the port of entry (International Students)

much appreciated Mead

well if wire transfer is not an option travelers cheques seems good but carry some cash too. but carry all the receipts that u get when getting T/C.