Question about funds required for gaining Permanant Residence in Canada

[BT101]

I'm applying for permanent residence in Canada under the skilled worker category and see that Canada requires you to have approximately $10,200 CAD available to receive permanent residence. I'm from India. How do people immigrating to Canada from India typically bring the money over? Is it safer and allowable to deposit the funds in an international bank with branches in Canada? Any suggestions on which international banks I could deposit the funds in with branches in India? Is Citibank a good choice since they have branches in India as well.

Thanks in advance for any advice.

 

[PMM]

Hi

I'm applying for permanent residence in Canada under the skilled worker category and see that Canada requires you to have approximately $10,200 CAD available to receive permanent residence. I'm from India. How do people immigrating to Canada from India typically bring the money over? Is it safer and allowable to deposit the funds in an international bank with branches in Canada? Any suggestions on which international banks I could deposit the funds in with branches in India? Is Citibank a good choice since they have branches in India as well.

Thanks in advance for any advice.

1. The funds have to be in a convertible currency, not rupees, $
2. You could set it up through HSBC or Citibank
3. Some Immigrants carry it in Travellers cheques or money orders, don't forget that you have to declare at Customs when entering Canada if it is over 10K.
4, Ensure that you have proof at the Port of Entry that funds are available and accessible in Canada.

PMM

 

[samgrace375]

Hi

1. The funds have to be in a convertible currency, not rupees, $
2. You could set it up through HSBC or Citibank
3. Some Immigrants carry it in Travellers cheques or money orders, don't forget that you have to declare at Customs when entering Canada if it is over 10K.
4, Ensure that you have proof at the Port of Entry that funds are available and accessible in Canada.

PMM

Hi,

I have created my Express entry profile with me as secondary applicant and wife as primary applicant and God willing should be picked in the next draw.

Quick query for you

1> I have mentioned that I should have 16K CAD in my profile though the bank proof I will be showing is HDFC and Yes bank and all in INR. That should be fine right?

2>I have 3 accounts, one in my name and another two is a joint account(one is where she receives her salary where she is primary holder and me as secondary and another just an ordinary joint account where I am the primary and she is the secondary account holder).I am planning to transfer all amount from the 2 accounts to the ordinary joint account mentioned.so I need to show proof from of all accounts showing transfers or just mention the Letter of explanation?

3>Can I obtain the letter from banks prior to receiving the ITA?