Funds and Carrying more than 10 000 CAD

[ruanp28]

Hi all,

So we are finally in the last stages of our application. I understand that I will not need to show proof of funds since I was sponsored, but we do have roughly 30 000 CAD saved up which is still in my South African bank account. What I'd like to know is, if we transfer the money to my fiance's RBC account before moving to Canada, is that fine? Can I just fill in the form to declare the money and just state that it has already been transferred?

Or do I just keep it in my current cheque account, declare it, and transfer once I am in Canada? I'd like to transfer it in advance, so that we know it is safely there. I also want to declare it, but I am afraid if I declare it but it was already sent over, they might think weirdly of it. I just dont want to get any fines or something.

I also noticed we need to fill in a list of goods to follow and goods accompanying us. Does this include things like laptops and cameras in our carry-on?

Thanks everyone

 

[EJH]

I can't speak to the goods to follow and goods accompanying, but if you are transferring money between accounts, even international, that does not require declaration. CBSA are talking about cash(in any currency equalling $10,000CAD), and bearer bonds etc, that you may have on your person, or in your goods.

These precautions are to prevent money laundering, fraud, and proceeds of crime entering or leaving Canada. The assumption is that banks have their own fraud protection strategies in place, and so transferring the money has already been subject to scrutiny to ensure it is legitimate. You may be required to prove to your BANK the money is honestly earned/received, but CBSA don't care.

Source - have transferred over 10k CAD in to Canada from UK and Australia at different times.

 

[vinitmenon]

check Scotiabank startright program. you can transfer upto $50000. Only valid for new student, worker or PR