Landing options and settlement funds/assets

[Leonina]

Hello, everybody!

I ran into this forum few days back when i was looking for landing options in Canada. We are currently waiting for our passports to arrive with the visa (we sent them to London at the beginning of March) and we are planning to land in the summer (husband, wife and toddler), but there are few things that are not clear enough:
- my husband has relatives in Montreal and he is thinking to land over there, but we've heard that the process is a little bit more different/difficult than the rest of the provinces- please advice
- we have friends living in Ottawa and we are also considering the option of landing there. If any of you landed in Ottawa we would appreciate sharing your experience.
- is it possible to fly to Toronto, do the landing procedures for the PR card in the airport and then after few hours take a domestic flight to ottawa to finish the rest of the procedures (driving licence, SIN, OHIP etc)?
- regarding the settlement funds: we will bring some cash money and draft checks as proof of funds according to the requirements. We also have shares and few properties out of which we plan to sell one and buy a flat in Canada next year when we will settle for good.
My question is what aproach should we take regarding the properties: will we be taxed in the future when we sell them and transfer the money to Canada? For the time being we are keeping them as investment and we wouldn't like to sell them yet as they will bring us a good profit in few years time.
Shall we bring translated copies of the ownhership titles of these properties in which is mentioned the price we paid for them when we bought them?

Thanking you all in advance for any information that you could provide us with.

 

[imjoe]

-If you are a skilled worker then you can land anywhere and it's the same, the difference in Montreal is if you applied directly as a Quebec-selected skilled worker.
-Don't know about landing in Ottawa
-Yes you can land in Toronto and do everything there, then leave but I suggest you leave enough hours or you might lose your flight.
-Money and draft checks are good, don't know about shares (I don't think they are good), but I do know properties are no good; you would need to sell them beforehand.

If you can get the necessary funds without the properties then you can keep them as long as you want.

 

[Leonina]

imjoe, thank you for the answer.

1.We applied as federal skilled worker (not as Quebes-selected skilled worker), my husband being the main applicant. I guess it's better to land either in Toronto or Ottawa.
3. We have enough cash money in the accounts to prove that we have liquid funds for settlement, without the shares and properties. We didn't know if we have to declare also the shares and properties when we land, as we don't want to have problems later on in case we decide to sell them and bring the money to Canada.

 

[imjoe]

You might want to look into that, since you don't require then as settlement funds perhaps there is a way to avoid being taxed for them latter on.

 

[Leonina]

Do you mean that we might be taxed for them later on??? What would the tax be? Who should we consult with regarding the matter: a lawyer or an accountant?

 

[SubatomicBionicNanoMan]

Yes, consult a tax consultant or attorney. However do some preliminary investigation on the web; via Canada's revenue office or CIC.