Proof of 'Landing Funds" >>>

[steaky]

now 1CAD=49INR........and 2 months ago 1CAD=52INR.........what exchange rate we have to follow....

At the time of landing or simply show funds in Canadian

 

[OBIE]

At the time of landing or simply show funds in Canadian

 

[Benjita]

Dear masters
I have some questions. If at the moment of landing I have one appartment in my country that I will sell soon in order to transfer this ammount to Canada. How can I declare it?
As a item to follow? Or can I declare this amount in the landing POF?

Thanks a lot

Benjita

 

[regnard]

Dear masters
I have some questions. If at the moment of landing I have one appartment in my country that I will sell soon in order to transfer this ammount to Canada. How can I declare it?
As a item to follow? Or can I declare this amount in the landing POF?

Thanks a lot

Benjita

Are you asking about the form you will fill-out upon arrival?

 

[Benjita]

I am asking about some goods that I have at my current country and which are not possible to carry to Canada but I want to sell and carry the money to Canada (e.g. My car, my apartment and the furniture)
I cannot move my car to Canada and I want to sell it and carry the money, when I enter the first time in the landing process I will not have this money available and as a consequence this is not part of the POF. But I would like to know if I can declare the amount of my apartment or my car in the Goods to Follow form in the Landing and save the tax fornthis money

Thanks

 

[steaky]

I am asking about some goods that I have at my current country and which are not possible to carry to Canada but I want to sell and carry the money to Canada (e.g. My car, my apartment and the furniture)
I cannot move my car to Canada and I want to sell it and carry the money, when I enter the first time in the landing process I will not have this money available and as a consequence this is not part of the POF. But I would like to know if I can declare the amount of my apartment or my car in the Goods to Follow form in the Landing and save the tax fornthis money

Thanks

You don't declare the selling of the car and apartment in Goods to follow form. Instead, you declare them in your first tax return upon residing in Canada. Goods are furniture that you have used at least 6 months and would take it at a later time.

 

[qorax]

Dear masters
I have some questions. If at the moment of landing I have one appartment in my country that I will sell soon in order to transfer this ammount to Canada. How can I declare it?
As a item to follow? Or can I declare this amount in the landing POF?

Thanks a lot

Benjita

U don't declare anything anywhere, u don't tell anything to anyone...
As u dispose-off those assets, wire the sums to ur Canadian bank a/c. U'd not pay any taxes anywhere/anytime. Unless the wire is around $1M & above - no questions asked too.

 

[tapandu]

*I recommend carrying them in 1)Some Cash, 2)TCs & 3)a Bank Draft [it takes about 30+ days to encash that]. -all the 3 formats [only], No Bank Statement/s.

Note: Also to reiterate that all Immigration Consultants will tell you to carry 'only' one or more of the 3 above. They wouldn't advice you to take a bank statement, why? -Check-it out with some of them.

I hope that helped...
Qorax

Ps: This is just a personal opinion. Others may differ & offer a better advice.
[/quote]

Outstanding post, Sir. What is TC? A new goer may have no account in Canada, how can bank draft be? Can we open a bank account while outside Canada?

 

[Benjita]

U don't declare anything anywhere, u don't tell anything to anyone...
As u dispose-off those assets, wire the sums to ur Canadian bank a/c. U'd not pay any taxes anywhere/anytime. Unless the wire is around $1M & above - no questions asked too.

Thanks a lot my master, just to clarify, if I sell my car and wire the money to my account in Canada, it is necessary to keep the proof that this car was sold?
The wire will exceed by sure CAN$ 10.000

 

[qorax]

Outstanding post, Sir. 1.What is TC? 2.A new goer may have no account in Canada, how can bank draft be? 3.Can we open a bank account while outside Canada?

1. TC = Travellors Cheque (I personally don't recommend carrying it, it's an unnecessary hassle).
2. U don't need a Canadian bank a/c to have a draft made from any overseas bank.
3. Yes, many banks have that facility, Scotiabank & other Intl. Banks do, in many overseas locs.

 

[qorax]

Thanks a lot my master, just to clarify, if I sell my car and wire the money to my account in Canada, it is necessary to keep the proof that this car was sold?
The wire will exceed by sure CAN$ 10.000

Not required, no one would ask. I transfer much larger amounts all the time.

 

[tabrez]

Hi dear Qorax,

Read through your fabulous post yet again... Very accurate and informative..

I donot have such a huge amount as POE now.. So can i take loan from my local bank and then show the amount in statement...? Can this be possible? Also is there a way that i get the pr card after landing then i return to my work outside canada?

Many thanks in advance...

 

[drmohan]

As u r working in Canada - POF is immaterial to u. Show what u have.
-Replied ur PM as well.

Hi Qorax,

Should I send just a bank certificate showing balance or 3 months transaction statement for POF? Moreover, my wife and I are working part time. U mentioned POF is not necessary?Will our employment letters suffice as we have not sent our updated employments to Buffalo VO.

Thanks

 

[qorax]

Hi Qorax,

Should I send just a bank certificate showing balance or 3 months transaction statement for POF? Moreover, my wife and I are working part time. U mentioned POF is not necessary?Will our employment letters suffice as we have not sent our updated employments to Buffalo VO.

Thanks

AFAIK 'part-time' employment doesn't qualify u for the POF waiver.

 

[drmohan]

AFAIK 'part-time' employment doesn't qualify u for the POF waiver.

Thanks Qorax. I appreciate your reply.