Hello,
I am a PR card holder but my spouse is a Canadian Citizen.
I want to transfer more than 500000 USD from outside Canada
into a Canadian Bank Which I have inherited from my parents.
I would like to know:
1) What is the procedure of declaring the funds or If there is a form I have to fill and bring along with me.. please let me know.
2) How much Tax would be deducted when the transfer takes place?
3) Someone had told me that When I land in Canada... I have to tell customs that a money transfer will take place....
and after I have declared.... THEN after that I would have to transfer the funds. Is that True?
Please help me understand the process of declaring wire transfers as well as how much deduction of tax would happen.
Thanks in Advance.
I am a PR card holder but my spouse is a Canadian Citizen.
I want to transfer more than 500000 USD from outside Canada
into a Canadian Bank Which I have inherited from my parents.
I would like to know:
1) What is the procedure of declaring the funds or If there is a form I have to fill and bring along with me.. please let me know.
2) How much Tax would be deducted when the transfer takes place?
3) Someone had told me that When I land in Canada... I have to tell customs that a money transfer will take place....
and after I have declared.... THEN after that I would have to transfer the funds. Is that True?
Please help me understand the process of declaring wire transfers as well as how much deduction of tax would happen.
Thanks in Advance.