Moving to Canada after landing last year- how mych money I can take with me?

[Mustafa100]

Hi,

me and my family landed for the first time in Canada in Jan 2015, and we left Canada in April 2015, I'm moving permanently in June 2016

in my first landed I prepared list of goods to follow , but the officer in the airport told me they are not accepting to add money to the list,

can some one help me with the below questions

I need to take my savings to Canada, what is the best way to transfer from UAE - Dubai? how much maximum cash I can take with my and my family?
we are 4, two adults and two kids ( 1 and 3 years old ) Can we take 40000 CAD with us as a cash ( 10000 CAD per person ).is it ok?
if we take more than that amount, do we have to pay taxes or any thing in the airport?
I don't want to transfer the money to my account in Canada ( RBC ) as I heard if I have some money in the bank I might not get loans ( student loan for studying ) is that correct,
what about gold , my wife has some gold and ( small pieces ) are they going to ask about them,

Thanks and regards,

Mustafa

 

[atifhassankhan]

Hi Mustafa.
The first thing about immigration, you are given the immigration so that you can contribute to the economy of Canada, therefore Canada wants to you to bring as much money with you as you u can, no limits, the only thing is that you have to declare it to the border security at the time of entry, just declaration, they will not ask from where you got this money. this declaration is not going to affect your loan application etc, yes only if u deposit it in your account then you may be denied a load. Same thing stands for gold, no limits, just you have to declare, if you have declared it on you first entry with your B4 form with the pictures, no tax otherwise there is a limit for gold that you can declare as gifts, above that limit you will have to pay tax. No tax on cash.

just a free advice, keep some savings back home too, YOU NEVER KNOW !!!!!!!

Hi,

me and my family landed for the first time in Canada in Jan 2015, and we left Canada in April 2015, I'm moving permanently in June 2016

in my first landed I prepared list of goods to follow , but the officer in the airport told me they are not accepting to add money to the list,

can some one help me with the below questions

I need to take my savings to Canada, what is the best way to transfer from UAE - Dubai? how much maximum cash I can take with my and my family?
we are 4, two adults and two kids ( 1 and 3 years old ) Can we take 40000 CAD with us as a cash ( 10000 CAD per person ).is it ok?
if we take more than that amount, do we have to pay taxes or any thing in the airport?
I don't want to transfer the money to my account in Canada ( RBC ) as I heard if I have some money in the bank I might not get loans ( student loan for studying ) is that correct,
what about gold , my wife has some gold and ( small pieces ) are they going to ask about them,

Thanks and regards,

Mustafa

 

[Mustafa100]

Thank you atifhassankhan for the detailed replay,