Declaring funds on first arrival

[TTP]

Hi

We as a couple are landing to Canada. We nees to carry CAD 11,000 in total

- Is the restriction CAD10K per person or per family ?

- Since we are taking CAD5,000 each do we have to declare ?

- We are taking currency from a money exchanger so.it will be not chopped in our passports will that be an issue ?

- Should we take new updated bank statements after withdrawing money for currency ?

 

[hodari]

Why are you so worried about declaring funds? Nothing will happen if you do, you can just tell them you withdrew your savings if they ask for the source.

 

[omarq]

Hi All,

I am just wondering if I need to inform CIC about moving my funds from my original country and bank account to a new country (where I reside now) with a new bank account? When I applied I had the money for 8 months and submitted my application in Feb 2019. Last month I decided to bring the money from my home country to the UK and save them in a join saving account with my accompanying wife.

Do I need to inform CIC about this move? Although, my application processing time has passed the 6 months now.

I appreciate your advice and support.

Thank you
Omar

 

[deeps1987]

Hi

We as a couple are landing to Canada. We nees to carry CAD 11,000 in total

- Is the restriction CAD10K per person or per family ?

- Since we are taking CAD5,000 each do we have to declare ?

- We are taking currency from a money exchanger so.it will be not chopped in our passports will that be an issue ?

- Should we take new updated bank statements after withdrawing money for currency ?

There is no restriction on amount of money you can carry. You just need to declare it. The reason is that large cash Amount is tracked and reported for anti money laundering. If you are not laundering, then don't worry about declaring.

 

[deeps1987]

Hi All,

I am just wondering if I need to inform CIC about moving my funds from my original country and bank account to a new country (where I reside now) with a new bank account? When I applied I had the money for 8 months and submitted my application in Feb 2019. Last month I decided to bring the money from my home country to the UK and save them in a join saving account with my accompanying wife.

Do I need to inform CIC about this move? Although, my application processing time has passed the 6 months now.

I appreciate your advice and support.

Thank you
Omar

No need to inform. Only update CIC if they ask you to resubmit latest POF doc.