How to Bring Large Sums of Money over when Immigrating

[sethday91]

So I will be coming to Quebec as a Permanent Resident in a few months (if all my paperwork goes through!) and I'm wondering how to handle emptying my American bank account and transferring that money to a Canadian bank. Are there banks in the US that are also in Canada where I can access the funds on both sides? Does TD work like that? I don't want to bring the money over in cash because firstly it's scary to travel with a lot of cash, and second I don't want to be taxed. Thanks!

 

[Buletruck]

You aren't taxed on funds you bring to Canada. You just have to report amounts over $10K and provide proof it was obtained through legitimate means. That's it...no taxes. Same goes for bank transfers.

 

[Alex54321]

You aren't taxed on funds you bring to Canada. You just have to report amounts over $10K and provide proof it was obtained through legitimate means. That's it...no taxes. Same goes for bank transfers.

I've read somewhere "A practical policy for keeping things clean with CRA is "Cash into Canada, then you, then your goods". In that order."