priya0310 said:
Hi Friends,
Need your suggestions on POF required at landing.
1) Please suggest different options to show funds?
2) As per the CIC guideline for 2 person CAD$ 14000 (approx) is required. Is this mandatory? In some threads few people only showed around CAD$ 5000 and rest documents & statement from Indian Bank. Really confused in this section.
3) Should I go for travellers Cheque or Open Scotia bank account from India. Please suggest.
Dear Priya..,
You can take money into Canada in different forms. When you arrive, you must tell a border official if you are carrying more than C$10,000.
If you carry more than C$10,000 (or the equivalent in another currency) into Canada, you must declare the amount when you arrive at ur destination. You must fill out form Cross-Border Currency or Monetary Instruments Report.
If you do not declare it, you may need to pay a fine or face other penalties.
You will not be taxed on the money you take with you for landing or while landing.
You can take money into Canada in the form of the following,
1. Cash
2. Securities in bearer form (for example, stocks, bonds, debentures, treasury bills)
3. Negotiable instruments in bearer form (for example, bank drafts, cheques, travellers' cheques, money orders)
4. Transfer of funds between your bank and a Canadian bank
I hope this information is sufficient for you.
be happy and all the best. +1 to you