Which Bank & How can I ?

[Syed Haider]

Hi there guys,

I will be coming to Canada somewhere by January & I definitely need few thing to know to give my plans a heads up.

1- I heard I cant carry more than $10, 000. What if I carry? Is that only I have to inform them by ticking the the section on arrival card that ask if a person is carrying more than $10,000 or I'll be whipped with a tax ?

Say i need to bring around $50,000 + , how should I follow up ? banks, drafts, etc.... Would be glab if someone passes me the contact details too if applicable.

2- Can I lease a property online ? so I know where I will be heading after my arrival ?

3- What cars would you suggest to buy in that climate & from where? Again, Can I buy It online? Is it reliable to do so ? I'll be looking for 6 passangers. Best & cheap car/suv etc.

4- What kind of a business is can be done? of course I know low investment means low income... roughly which businesses can be done & how to initiate ?

5- Whats with the Gold? can we carry as much as we want or it has a limitation on it too? If there is tax on it, whats the best way to bring it to Canada ?

Many thanks,

Syed Haider

 

[steaky]

1) No, there are no maximum amount you can carry in person but you must declare if it is over $10,000;
2) Commonly, you can book hotel room online. But renting a property, though it is possible to do it online, you have to negotiate this with a landlord;
3) I think all four wheels cars from north america are suitable. Better to buy once after your arrival;
4) Franchising is one option.
5) Are you immigrating? If so, there is no maximum amount as long as you list them with other belongings you bringing in the B4E form. If you don't list and you brought it with you at POE, you might be taxed.

 

[Syed Haider]

1) No, there are no maximum amount you can carry in person but you must declare if it is over $10,000;
2) Commonly, you can book hotel room online. But renting a property, though it is possible to do it online, you have to negotiate this with a landlord;
3) I think all four wheels cars from north america are suitable. Better to buy once after your arrival;
4) Franchising is one option.
5) Are you immigrating? If so, there is no maximum amount as long as you list them with other belongings you bringing in the B4E form. If you don't list and you brought it with you at POE, you might be taxed.

Thanks Streaky for taking out some time to reply on my ques.

So what if I declare I am carrying $20,000 ? Are they gona tax me ? If yes how much ?

No I am not immigrating @ the moment but Will be later by March - April 2013. I am just visiting for a while,thought to open up an account so I can keep transfering online. Does bank deduct any amount ? In Australia Its free, no matter how much you are recieving only the sender pays & $0 for the recipient.

Just one more Question, I am planning to lodge my sisters study Visa, how much time does it take ? I heard few of the Visa's are rejected as they were Pakistani. Is it somethign wrong being a Pakistani student or they must have stuffed up the application details ?

How much time it normally takes for student visa to for grant ?

 

[steaky]

1) No tax regardless you bring 1 million, twenty thousand, etc. as long as this is not your overseas income after you became a resident for tax purposes. As for bank charges, every bank has its own policies.
2) You don't have to open an account in Canada in person. You can do it online. Some banks such as HSBC, PCfinancial and RBC allows that option.
3) It depend on the visa office that process your sister's study visa. Check this website for details:
http://www.cic.gc.ca/english/information/times/temp/students.asp

 

[amikety]

I use Paypal to transfer my funds. The exchange rate is better than my bank. (BMO)

You can try to rent online BUT due to scams, landlords may refuse to deal with you. I personally wouldn't rent a place online. You should see the apartment first.

Canada requires running daytime lights. Most cars in the USA don't have these. It requires a small fix to make a USA car Canadian compliant. Avoiding a car from the coast. They rust out much faster. Same for a car in areas where roads are salted. Calgary is a good place to meet those requirements, if you're nearby. There's no way I'd purchase a car online. See it first. Have it checked out by a mechanic, preferably licensed.

 

[Syed Haider]

1) No tax regardless you bring 1 million, twenty thousand, etc. as long as this is not your overseas income after you became a resident for tax purposes. As for bank charges, every bank has its own policies.
2) You don't have to open an account in Canada in person. You can do it online. Some banks such as HSBC, PCfinancial and RBC allows that option.
3) It depend on the visa office that process your sister's study visa. Check this website for details:
http://www.cic.gc.ca/english/information/times/temp/students.asp

Hi there Steaky,

Many thanks for you response. Its quite diappointing that Pakistan's having a 13 weeks time of visa processing. Well never mind ...


Could you please post links for such banks ??
thanks

 

[Syed Haider]

I use Paypal to transfer my funds. The exchange rate is better than my bank. (BMO)

You can try to rent online BUT due to scams, landlords may refuse to deal with you. I personally wouldn't rent a place online. You should see the apartment first.

Canada requires running daytime lights. Most cars in the USA don't have these. It requires a small fix to make a USA car Canadian compliant. Avoiding a car from the coast. They rust out much faster. Same for a car in areas where roads are salted. Calgary is a good place to meet those requirements, if you're nearby. There's no way I'd purchase a car online. See it first. Have it checked out by a mechanic, preferably licensed.

Hi There Amikety,

I know about the Paypal but does it helps in transfering money online from bank account to another bank account ?

Does you bank allows to open an account onilne or it has to be in person ?

Could you haul me a link for such banks, Ones that are good of course charge less monthly fee or any other deductions?

Which institution provides the best rates for mortgage?

 

[scorpion_ca]

Hi There Amikety,

I know about the Paypal but does it helps in transfering money online from bank account to another bank account ?

Does you bank allows to open an account onilne or it has to be in person ? You can open an a/c from outside of Canada but it has to be in person to activate that a/c.

Could you haul me a link for such banks, Ones that are good of course charge less monthly fee or any other deductions? http://www.pcfinancial.ca/ and http://www.ingdirect.ca/en/

Which institution provides the best rates for mortgage?

 

[Syed Haider]

Thens whats the use of opening an account? I was wondering If i could send money online from my bank account to candian bank account so i dont have to carry nay physical cash.

Any thoughts?

 

[scorpion_ca]

Thens whats the use of opening an account? I was wondering If i could send money online from my bank account to candian bank account so i dont have to carry nay physical cash.

Any thoughts?

Please browse the following links and I think you might be able to get some info.

http://www.hsbc.ca/1/2/en/personal/immigration-canada/new-to-canada

http://www.scotiabank.com/cda/content/0,1608,CID12961_LIDen,00.html

 

[amikety]

I have two Paypal accounts, one USA and one Canada. It's a little complicated but I transfer USA to Paypal USA to Paypal Canada to Canada account.

However, I still use both accounts (mainly USA account to send gifts to my family in the USA. No international shipping that way) so that makes it worth it for me.

 

[steaky]

Thens whats the use of opening an account? I was wondering If i could send money online from my bank account to candian bank account so i dont have to carry nay physical cash.

Any thoughts?

Alternatively, you can check if you local bank machine card can be use in Canadian bank machines.

 

[job_seeker]

You can carry managers check. Ask you bank about it. You don't carry the cash; the check would be in your name and you can readily deposit the amount once you arrive in Canada.

Thens whats the use of opening an account? I was wondering If i could send money online from my bank account to candian bank account so i dont have to carry nay physical cash.

Any thoughts?