First Landing .. Large Amount of Money to follow

[chintanvj]

Hi Folks,

My apologies if a question similar to the following has been asked before, but I could not find answer to specifically my case.

I am moving to Toronto in April 2020. I have about 150k CAD in cash of which I plan to bring 20k in travelers cheque when I first land (I will declare this at immigration).

Of the rest, I am not entirely sure what to do. If I see a good investment opportunity, I may transfer at a later date.

I know for real estate we need to have a valuation of some sort at the time we land and declare assets back home. But in case of cash, do I need to declare?

I am really confused how to handle this situation and any help will be highly appreciated.

Thanks !!

 

[master113]

Hi Folks,

My apologies if a question similar to the following has been asked before, but I could not find answer to specifically my case.

I am moving to Toronto in April 2020. I have about 150k CAD in cash of which I plan to bring 20k in travelers cheque when I first land (I will declare this at immigration).

Of the rest, I am not entirely sure what to do. If I see a good investment opportunity, I may transfer at a later date.

I know for real estate we need to have a valuation of some sort at the time we land and declare assets back home. But in case of cash, do I need to declare?

I am really confused how to handle this situation and any help will be highly appreciated.

Thanks !!

Curious to understand how and where will you buy real estate for 150 K. Please enlighten me ...

 

[chintanvj]

Curious to understand how and where will you buy real estate for 150 K. Please enlighten me ...

I am sorry, I never said I want to buy real estate ! I meant IF you have a real estate back home than you need to have a valuation (I do not have a real estate back home)

I have cash worth 150k which I might want to bring at a later date. How to go about it?

Do I declare at immigration (First time landing)?

 

[chintanvj]

Seniors Please help ..