Settlement funds and how to bring it and how much?

[islander]

Why do they ask to report to the Immigration officer the amount of money we are bringing if it is more than $ 10,000.00 when landing? Should I only bring the $ 10,000.00 or should I bring the whole thing which is $ 20,000.00? If not, how should I bring the rest later on?

Thank you.

 

[Leon]

You need to bring proof of funds for the whole amount you are supposed to have. A proof of funds can be a letter from a bank. You don't have to bring funds with you but if you do and it's more than 10,000 you have with you in cash or checks, you need to tell the immigration officer. They don't say you are not allowed to bring more, just that you have to tell them if you do.

 

[islander]

Why do they ask you to tell them if you have more than $ 10,000.00? What is the whole purpose of it?

 

[Leon]

I don't know. Don't they also ask how much alcohol you are bringing into the country and how many cigarettes and if you have food with you etc. etc. I am sure there's a good reason why they want to know how much money you have.

 

[cchabert]

Why do they ask you to tell them if you have more than $ 10,000.00? What is the whole purpose of it?

Because they just want to record that you have more than $10,00 CAD or DLLS. in cash so they will know if the money goes to promote illegal activities if you didn't declare the amount and they found it you will be in a lot of trouble, they seize the money and maybe you will never see it again ,also ytou can finish in jail and lose your PR.

Mainly is to control how much cash enter the country.