Landing in Toronto on 25th Feb :: Proof of Funds

[CanadaItIs]

Hello All,

My brother is landing in Toronto on 25th Feb. He got PR through FSWP 2013 program.

We were wondering if somebody can help us with following two questions:

1. Is it required to carry CAD 18000 (family of 3) while landing in Toronto?
2. What all instruments (Travelers Cheque, Hard Cash, Travel Currency Card etc) can we use to show the funds?

Many thanks in advance!!

 

[jazzyapd]

Hello All,

My brother is landing in Toronto on 25th Feb. He got PR through FSWP 2013 program.

We were wondering if somebody can help us with following two questions:

1. Is it required to carry CAD 18000 (family of 3) while landing in Toronto?
2. What all instruments (Travelers Cheque, Hard Cash, Travel Currency Card etc) can we use to show the funds?

Many thanks in advance!!

Hello CanadaItIs,
I'm no expert but here are my thoughts:
1) I'd say it's better to carry these funds to have it to show when he lands in the event that he is asked to show same...better safe than sorry
2) CIC has this info posted "..Canadian customs regulations require you to declare if you are bringing more than C$10,000 into Canada. If you do not tell them, you may be fined or put in prison. These funds could be in the form of:
-cash
-documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.) or
-documents that guarantee payment of a set amount of money, which are payable to you (such as bankers’ drafts, cheques, travellers’ cheques or money orders)."
(I tried posting the link where I got this from but that's not allowed...you can google CIC Express Entry Funds)

Best wishes to your brother and his family on their journey ahead!

 

[DigitalDestiny]

1) YES it's REQUIRED. If they ask you to show proof of carrying $18637 (not necessarily all in cash) and you cannot produce that - Your PR can be refused at the airport.

2) You can carry upto 10,000 in cash and remaining in Visa Travel Card (don't forget to carry the receipt bank issues when they load your card).

Advantage is you an withdraw CAD from any ATM including those at Canadian airports. Another advantage is your family back home can reload the card if you need more money in Canada. Disadvantage is it costs about CAD$2 per withdrawal transaction and ATM's there do not let you withdraw more than $500-$1000 (varies) per transaction so costs are there plus Indian banks are not known for giving good exchange rates.

You can also carry traveler's cheque or actually open a Canadian bank a/c in scotia bank right from their branches in India and then they will give you a letter/statement that you can show at port of landing.

All the Best.

 

[CanadaItIs]

Thank you friends for the advice.

Can my brother carry Fixed Deposit receipts which are issued by banks in India. FD in India can be liquidated at any time. So, can it be shown as proof of funds (FDs will have amount mentioned in INR currency).

 

[perfectSkilledMigrant]

1- No he does not have to carry the funds but he has to carry the proof of funds..... bank statements and certificates showing that he has the funds ready should be enough.

2- Be careful that 10,000$ limit includes all kinds of funds not just cash and all should be declared.

I suggest he carries a few thousand dollars enough for initial days and then he can open an account and transfer money from his account back home directly.

Regards,

 

[Aragorn165]

1. He doesn't have to carry the funds with him- but he needs to have proof (updated proof, he can't use the same documents that he used while applying, he needs updated, current ones) that the funds are still available to him, in liquid form, ready to be used as and when necessary;

2. From the CIC page:

Canadian customs regulations require you to declare if you are bringing more than C$10,000 into Canada. If you do not tell them, you may be fined or put in prison. These funds could be in the form of:
-cash
-documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.) or
-documents that guarantee payment of a set amount of money, which are payable to you (such as bankers’ drafts, cheques, travellers’ cheques or money orders)

Good luck to your brother and his family!

 

[Raf_Fareen]

Hey,

Could you please share which method did your brother use to travel to Canada? I am travelling in a week or so and I am confused whether to carry cash in hand or bank statement.

Seems like there is no right answer to the question, is a bank statement a valid POF? Is a bank statement acceptable by an immigration officer? Is it really hard for CIC to give a Yes or No answer to that.

Read lots of posts, there are mixed responses.

Raf.

 

[rajkamalmohanram]

1- No he does not have to carry the funds but he has to carry the proof of funds..... bank statements and certificates showing that he has the funds ready should be enough.

2- Be careful that 10,000$ limit includes all kinds of funds not just cash and all should be declared.

I suggest he carries a few thousand dollars enough for initial days and then he can open an account and transfer money from his account back home directly.

Regards,

There is no issue in carrying more than 10,000 CAD. Its not a "limit". Its not like you will be taxed for funds above 10k CAD. ANYTHING that you bring in when you are landing the first time is TAX-FREE. Its just that it has to be declared - A formality (Anti-Money Laundering law of sorts).

 

[No Man Left Behind]

Are bank statements acceptable proof upon landing?