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I want to transfer $50,000 from India to Canada.

ankithkshetty

Full Member
Nov 18, 2018
33
0
Hi,

I am currently living in Canada. I have 50,000$ in India that I want to bring into Canada. I plan to put all of the money into index funds in Canada. Is there any complications involved in transferring such a big amount from India?
 

steaky

VIP Member
Nov 11, 2008
14,297
1,628
Job Offer........
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Hi,

I am currently living in Canada. I have 50,000$ in India that I want to bring into Canada. I plan to put all of the money into index funds in Canada. Is there any complications involved in transferring such a big amount from India?
Better to check with India?
 

francaispourquebec

Star Member
Jun 4, 2013
149
53
Hi,

I am currently living in Canada. I have 50,000$ in India that I want to bring into Canada. I plan to put all of the money into index funds in Canada. Is there any complications involved in transferring such a big amount from India?
Don't take this as financial advice and do your own research. But here's what I know: if you opt for a wire transfer, Canadian banks usually have a standard wire transfer fee irrespective of the amount. So it does not matter if you wire $100 or $100,000 they will charge the same fee. On the Indian side, things are a little complex. Again, if you choose a national bank as the source of transfer, there will be some standard transaction fees. But you need to watch out for something called TCS (tax collection at source). There is enough information online on what it is.