prashjcha said:
yup buddy you can carry 10000$ with you. But you need to show the proof that where the hell this CAD came from. I would suggest you to carry 2000$ for startup. This much CAD are enough.
This is incorrect, and a common misconception. There are
no limitations (no maximumum amount) on the amount of currency one can transport into Canada. What
is required is that any funds in excess of CAN$10,000 (or foreign currency equivalent) must
be reported. There are no fees, duties, taxes, etc. imposed on any currency, regardless of whether more than or less than CAN$10,000 are involved.
Here's the real scoop ...
1. Anyone wishing to transport more than CAN$10,000 (or foreign equivalent) can do so perfectly legally.
2. It's neccessary to declare funds in you are carrying in excess of CAN$10,000 when enetering or exiting Canada. Other countries may have more restrictive laws regarding the import/export of cash. The info I am providing apply to Canada only.
3. When transporting more than CAN$10,000, simply fill out CBSA Form E677 (Cross-Border Currency or Monetary Instruments Report - Individual) or Form E667 (Cross-Border Currency or Monetary Instruments Report - General) and hand it to the official when going through customs/crossing the border. Use the first form if the funds belong to you, or the second form if you are couriering the funds for another individual/entity.
4. The CAN$10,000 limitation applies not only to cash. It includes coins, domestic or foreign bank notes, and securities, such as travellers cheques, stocks and bonds.
5. Aside from simply noting who the owner of the funds is, there is no requirement to further specify the "sources" or "origin" of the funds in question.
6. Failure to report funds in excess of CAN$10,000 can result in seizure of the funds and/or penalties and fines ranging from $250 to $5,000.
7. The financial declaration requirement is authorized by the
Proceeds of Crime (Money Laundering) and Terrorist Financing Act. It's aims are to assist the government of Canada in its efforts to investigate and prosecute offences related to money-laundering, terrorist financing and organized crime.
I hope this helps to answer your quuestions and (hopefully) clear up some common misconceptions. If you have further questions or would simply like to see things in black & white for yourself, I suggest a visit to www.cbsa-afsc.gc.gov
