Opening account from abroad

[Hot2Cold]

Have contacted ScotiaBank as they allow one to open an account from UAE. Waiting for a response from them. Will update when I get one.

 

[hotshot007]

I found HSBC useless. I went into a UK branch and was told there was no point opening an account there for Canada unless I earned over $200k a year or had $500k in savings (or something like that - numbers converting to Canadian $$$).

So I brought cash and on the first morning after I got my SIN I walked into a bank who told me to get lost. Because I only had a paper version of my SIN (on govt. canada paper, though it did look a bit unofficial surely they had seen it before?) So I walked into a different bank instead, who checked with the manager and were fine with that and got me setup.

I can't remember which bank told me to get lost - the corner I remember looking had a TD, CIBC and Scotia Bank, but RBC gave me an account. I'd suggest looking for what branches are closer to where you work or live if you know that...

I can't see a reply on taxes, so will answer.

You will file a tax return by April 30th the year after you land, regardless of if you spent 1 day or 366 in the country on the previous calendar year. You'll have to give details of when you entered and personally, based on the fact that I worked 46/52 weeks my first year potentially get a decent tax rebate.

Do you have to file taxes even though you are a non-resident for tax purposes after landing? I.e you have landed and gone back to your home country and will move permanently after a year, would I still need to file taxes?

 

[jc94]

I believe one has to file taxes if they had any income in Canada.

So if you land, go home, and don't work you should be fine as you won't get a T4 (tax form) from anyone. And likely won't have a house or address to send it to.

But I'm not 100% sorry! I think you'd be best off asking an expert ($$$) or maybe you can contact the Canadian tax peoples (not actually sure what they are called, I pray never to be contacted!)

 

[One_Topsy]

Finally RBC has confirmed they can open the account for me and sent list of documents.

 

[lelieuplusfroid]

Finally RBC has confirmed they can open the account for me and sent list of documents.

You're also going to Sask like me. Can you please forward the mail from them on RBC docs to poutineguy411@gmail.com? Are they allowing only 1 wire transfer before landing and is it free? I heard they also have preferential exchange rates for newcomers.

 

[Fly2Can]

Great thread.. thank you so much!

 

[teewhy709]

Finally RBC has confirmed they can open the account for me and sent list of documents.

Were you able to open this account with RBC

 

[NetMecca]

Hello folks

If i open an account in Canada from abroad before i land, will i be consider for taxation from that date or from the day i land ?

Also, i know it might be out of subject , do i have to pay taxes if i landed after 1st of July (means i will be sending less than 6 month in the country)

Thanks in advance

I would suggest you contact an accountant to get a solid answer on that, however you pay taxes in a country generally based on your income while considered a resident of that country no matter where the income is earned. No need to worry about income prior that consideration. I believe resident is typically defined based on the number of days in a year you have spent in that country (and typically exceed approximately 6 months). Depending on tax treaties also even if you are required to pay taxes in Canada you may be able to get a tax credit for taxes paid elsewhere.

Good luck. This is potentially a complicated issue. If it is a serious concern I would suggest you hire a professional accountant (with international tax experience) for clear and solid advice.

 

[hina zaidi]

RBC can open open account from abroad. they do fast processing.

you dont hv to pay tax on your money. if you tranfering from abroad to canada.
you only pay tax on int. earn by your money in canadian account.

 

[LokiJr01]

Does RBC provide certification for POF purposes when you transfer funds to them ?

 

[hina zaidi]

yes they can provide certificate or email confirmation from your relationship manager for same

 

[rafzy]

Can you guys tell me if RBC allows first wire-transfer for free or not ?

Also, what documents do I have to send them while applying for Deposit account at RBC ?

 

[xpressentry]

You can apply for a bank account with RBC and Scotia Bank online before you arrive in Canada. I haven't done it but I saw the link to sign up as new permanent residents before arriving in Canada. Scotia Bank will give you $100 for opening an account and remaining in good standing (like no unpaid overdrafts or unpaid dues) after 3 months of opening the account.

 

[astralsource]

Good thread.

And how do you transfer money to avoid rip-offs from the banks?

Can yo transfer money via TransferWise to your canadian account which is opened prior to landing?

 

[hina zaidi]

you cna open accont from aborad and its very fast, within weeks it can be done.

i did it it form dubai for RBC.

you can transfer money through bank transfer or through Money exchange house.
thye have 45$ charges for that.
negotiate the rate in conversion before sending. same will be transfer within 24 hours to your Canadian account.

thanks