Property in India

[karanjagwani87]

Hi,

I have invested in real estate property and some jewellery in India. I have not yet planned to sell the property or jewellery.

Am i supposed to declare it while entering Canada post PR, if yes then how.

Is there any time restrictions on selling the assets post landing in Canada.

 

[21Goose]

Not for immigration reasons, but you may need to declare it for tax purposes when you file your first tax return.

There's no time restrictions on selling assets. You can keep the assets - you don't have to sell them just because you're a PR.

 

[karanjagwani87]

Not for immigration reasons, but you may need to declare it for tax purposes when you file your first tax return.

There's no time restrictions on selling assets. You can keep the assets - you don't have to sell them just because you're a PR.

How can we value them, do we need some certificate from a professional or a rough estimate would do.

 

[Yvrnorth]

Can anyone guide me with the following?
My parents live in Canada, they own a house in India, they have an accepted offer on the house. However the purchaser wants to pay portion of price in cash and not have it show up in the purchase price.
I realize we will have to pay capital gains tax and then will be able to transfer the funds to Canada. But how can we bring the cash portion to Canada? Is there a way to send it thru ie: western union or similar?
I dont mind to pay capital gains on the cash portion however it's not even included in the purchase price. How can I deal with this? Any suggestions? Any experience with this type of situation?
Thank you in advance.
Bill

 

[DianaParr]

Buying property from a distance in another country has always brought big problems. Last year, I did something similar with the purchase of land in India for the construction of my future home. I had dozens of similar questions and I struggled with them until I found IGRSUP, which helped me solve all the issues related to land registration in India. I hope you will also be able to find answers to your questions here as it really helped me a lot. You may not get all the answers, but I'm sure they can guide you in the right direction, where you'll find what you were looking for.

 

[JessicaBaker]

Buying property from a distance in another country has always brought big problems. Last year, I did something similar with the purchase of land in India for the construction of my future home. I had dozens of similar questions and I struggled with them until I found IGRSUP, which helped me solve all the issues related to land registration in India. I hope you will also be able to find answers to your questions here as it really helped me a lot. You may not get all the answers, but I'm sure they can guide you in the right direction, where you'll find what you were looking for.

What exactly did you buy in India? I think it would make a difference.