money money money Srs please advise

[at9459]

I am supposed to carry $25000 with me when I go to canada.
once I enter and take that money with me, can I bring back that money when I come back ?
or do I have to keep that in their Bank till my whole family enters Canada.

Then when I take my family along do I have to carry the amount again?

Please advise

 

[qorax]

The POF is only needed when u r performing your 'record of landing' during the 1st entry into a Canadian POE, as PR. Subsequent landings do not need that requirement. U can take out your funds, but questions might be asked at the border. Moreover, u'll have to declare anything at or more than CAD10,000/-.

But, it is good to keep the funds in a Canadian Bank... to commence your 'credit history' from day-1. In any case u'll need the funds for your settlement in Canada, won't u? So, why to take it out? Unless u have some other pressing issues.

 

[bhaveshenee]

qorax,
can you be bit more specific on this funds matter.
10000 CAD, cash???? and more than that can be carried in what form ....
what is cost of leaving...... etc etc... please throw some lights on this..

 

[qorax]

qorax,
can you be bit more specific on this funds matter.
10000 CAD, cash???? and more than that can be carried in what form ....
what is cost of leaving...... etc etc... please throw some lights on this..

1. As per CBSA rules we need to declare funds on or more that $10,000 at the POE [either while entering or leaving].

2. Disclosure of funds & Format of carrying funds:
http://www.cic.gc.ca/english/immigrate/skilled/funds.asp
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 eg, bank drafts, cheques, travellers’ cheques or money orders).

3. Cost of Living: Check-out this site...
http://www.livingin-canada.com/cost-of-living-in-canada.html

Regards,
Qorax.

 

[bhaveshenee]

Many Thanks
and is shall definitely go through it and come back...

[flash=200,200]http://Regards,[/flash]

 

[jnathan]

qorax,

do we need to show the funds' source? and how show that we're carrying the fund with us?

 

[qorax]

qorax,

do we need to show the funds' source? and how show that we're carrying the fund with us?

Hi, check it here:
http://www.canadavisa.com/canada-immigration-discussion-board/pof-on-landing-t35989.0.html

 

[jsp]

Hi Qorax/other members

in my case i have shown funds in ICICI bank in India, is it possible that its statement will serve the purpose as ICICI bank has overseas branch in canada too. Amount can be withdrawn from its branch in canada. Under this condition will the officer at airport permit my landing.

 

[qorax]

JSP,

ICICI Bank statement is perfectly fine. U can also open the Canadian ICICI Bank A/c while being in India.

Regards,
Qorax.