First entry to Canada on PR from India - Forex Cash Limit

[AHP]

Hi,

Can somebody familiar with the forex rules and regulations in India please tell me how much foreign currency (cash) I can carry when I first go to Canada from India. Also can I carry extra in the form of a forex card ? Are there any RBI limits I should know of ?

I have received the PR and will be travelling to Canada very soon

Thanks

 

[21Goose]

https://www.rbi.org.in/scripts/FAQView.aspx?Id=11


4. How much foreign exchange can one buy when going for tourism to a country outside India?

In connection with private visits abroad, viz., for tourism purposes, etc., foreign exchange up to US$10,000, in any one calendar year may be obtained from an authorised dealer. The ceiling of US$10,000 is applicable in aggregate and foreign exchange may be obtained for one or more than one visits provided the aggregate foreign exchange availed of in one calendar year does not exceed the prescribed ceiling of US$10,000 {The facility was earlier called B.T.Q or F.T.S.}. This US$10,000 (BTQ) can be availed of by a person along with foreign exchange for travel abroad for any purpose, including for employment or immigration or studies. However, no foreign exchange is available for visit to Nepal and/or Bhutan for any purpose.


6. How much foreign exchange is available to a person going abroad on immigration?

Person going abroad for immigration can draw foreign exchange upto US$ 5,000 or the amount prescribed by the country of emigration from an authorised dealer in India. These amount is only to meet the incidental expenses in the country of migration. No amount of foreign exchange can be remitted outside India to become eligible or for earning points or credits for immigration. All such remittances require prior permission of the Reserve Bank

Sounds like you can carry up to $10,000 USD cash (roughly $13,000 CAD).

If you are carrying more than $10,000 CAD when you enter Canada, you will have to declare that. It's perfectly legal to carry more, you just have to tell CBSA about it.

Anytime you cross the border, you must declare any currency or monetary instruments you have valued at Can$10,000 or more. This amount includes Canadian or foreign currency or a combination of both. Monetary instruments include, but are not limited to, stocks, bonds, bank drafts, cheques and traveller's cheques. There are no restrictions on the amount of money you can bring into or take out of Canada, nor is it illegal to do so.

http://www.cbsa-asfc.gc.ca/travel-voyage/ttd-vdd-eng.html