Hi,
My family (wife, little one and me) have received our Canadian PR's and planning to fly out from India mid of next month. We have the following questions and would really appreciate answers from the pros please.
(a) We took a look at the ScotiaBank Startright program and opened accounts remotely on my name and my spouse's with the intent of transferring funds (Scotiabank mentioned you could make a one time wire transfer of CAD 50000 which can then be activated post landing). However, we are confused if the CAD 50000 is per FAMILY or both our accounts could take CAD 50000 each. The 'fine print' says CAD50000 per family but we are still not sure if this is true. Would love some thoughts on the same please.
Also, has someone actually performed this wire transfer from their account in India? Which bank and how was the process please?
(b) I have a house in India that we plan to sell sometime within the next 2-3 years and possibly bring that money into Canada. Should I value the house now (using a professional) and declare the same when I enter Canada for the first time?
(c) Will I be asked to explain source of funds at POE if I am getting money from my parents or from my parents' company? If so, how best do we explain the same please.
Thanks so much in advance!
Cheers!
My family (wife, little one and me) have received our Canadian PR's and planning to fly out from India mid of next month. We have the following questions and would really appreciate answers from the pros please.
(a) We took a look at the ScotiaBank Startright program and opened accounts remotely on my name and my spouse's with the intent of transferring funds (Scotiabank mentioned you could make a one time wire transfer of CAD 50000 which can then be activated post landing). However, we are confused if the CAD 50000 is per FAMILY or both our accounts could take CAD 50000 each. The 'fine print' says CAD50000 per family but we are still not sure if this is true. Would love some thoughts on the same please.
Also, has someone actually performed this wire transfer from their account in India? Which bank and how was the process please?
(b) I have a house in India that we plan to sell sometime within the next 2-3 years and possibly bring that money into Canada. Should I value the house now (using a professional) and declare the same when I enter Canada for the first time?
(c) Will I be asked to explain source of funds at POE if I am getting money from my parents or from my parents' company? If so, how best do we explain the same please.
Thanks so much in advance!
Cheers!
