London Visa Office

[champ]

[size=10pt][size=10pt]
Happy Ramazan kareem and huge congratulation on ECAS wind up...u made it champion
Have a blessed life ahead[/size][/size]

Happy Ramazan Kareem to you as well!
Thanks once again for your kind wishes.
My prayers are with you for fast and smooth processing ahead!
I am sure you will be there soon.

 

[mish]

Happy Ramazan Kareem to you as well!
Thanks once again for your kind wishes.
My prayers are with you for fast and smooth processing ahead!
I am sure you will be there soon.

thanks and inshallah...

Stay Happy

 

[nkalra]

As promised I am back with the topic concerning ‘Brining the left over money or land after the 1st landing'.
Came to know from different internet articles and today I had a word with one of the forum member who is from Qorax family not parental but from the same thread member.
We do not necessarily required to declare any money in B4A (Goods to follow List) it is meant only for personal effects like furniture etc...
Form the date of 1st landing you will have the below privileges for the first 3 years or until you become Citizen.
• No need to declare anything for the left over money and any sort of land or apartment on your name in your home country.
• Whenever you wish in near future after the 1st landing you can sell of your property in your home country and transfer the money to your Canadian bank account.
• Same goes with the cash or debentures or any form of money left over in your home country, just transfer it to your Canadian bank account, and there will not be any tax imposed on this remitted money into your account.
• Tax will only be imposed on the income earned within Canada or if employed oversees (Global Income) after you become PR.
• At the time while filling the IT return for the current year you can declare the amount remitted from your home country so that it will not taxed by the Government.
• After you become PR, if you go back to your home country and work there and then remit money to your Canadian account or while return you bring with you this amount will be taxed under (Global Income).
• Or if you are already paying tax in your home country on your Global Income after you become PR and if Canada have tax treaty with your home country, in this case tax will be waved off.
FYI, I am trying to get in touch with one of the Canadian authorities to have the above said officially accepted. Will let you know with the outcome.

In Continuation to the above mentioned. I had a word with the Canadian Authorities to be specific with 'Canada Revenue Agency, Income Tax Department'. + Same confirmed by CBSA as well.

And these are my findings.

For the left over money:-

1. You are allowed to bring as much money you can.
2. You don't need to pay taxes on the money which you haven't not earned on the Canadian soil (before you become PR).
3. But you need to pay the taxes on the interest earned on that money until you bring that money in Canada. (For example- If I had 10k$ left over money after the 1st landing, and if I wish to bring this money after 2 years, I need to pay taxes on the interest of this 10k$, which my banks give me as interest let say 30,000 INR. So on this 30,000 INR I am liable to pay taxes to Canadian government.
4. For the tax reduction at the end of the year, make sure you have all the records to back up your claims that this money has earned overseas before you became PR. For example your old bank statements etc...
5. Or If you are employed after becoming the PR and working outside Canada you become liable for taxes for the money remit into your Canadian account, if that money earned in some certain countries where they have tax treaty then it will be tax free, but subject matters.

For the left over land:-

1. You can dispose off your land in your home country and then bring the money, there is no time frame to do this.
2. You need to pay taxes on the Capital Income earned after selling your land. For example- I had land worth 1,00000 INR. After my initial landing after 2 years if I sell this land for 1,50000 INR. 50K more than I my original price, so this 50k becomes my Capital Income, and my this 50,000 becomes liable for taxes.

So bottom line no there is no hurry to take all of your hard earned savings at one go. You can delay as much you can. Only one the Capital Income we have to pay taxes, and need to back up the claims with proofs.

Hope this will be of some help to all.

 

[Abu Hassaan]

Congratulations Champ and good luck for smooth landing and early settlement in Canada.

Happy Ramadan Kareem to all muslims in this forum!

Remember us in our prayers too.

Just got "Decision Made" on my ECAS.

JazaK Allah everyone for the support and congratulations to all guys who got updates as I missed lot of pages of the forum.

 

[Abu Hassaan]

Congratulations Dub2can and good luck for smooth landing and early settlement in Canada.

ALHAMDHULILAH.

Glad to share with the Forum, receipt of our Passports with Maple leaf 8) after a year long eventful journey.

Application submitted against all odds for a fast closing NOC - May 16th 2013

Fingers crossed CIC will accept all our documents! Cleared eligibility - July25th 2013

Big Lull from LVO for few months...

Shocking news(jan 20th) of Interview (retrospectively a blessing) - Jan 26th

Thereafter relatively smooth, Started processing - Mar 12, MR Apr 2, PPR May 24th...

In this blessed month of Ramadhan....
I Pray everyone sails through smoothly, speedily and successfully in the rest of their process.

And Pray we settle down successfully in Canada at the earliest possible.

Ramadan Kareem.

 

[champ]

Congratulations Champ, wishing you a smooth landing ahead

Thanks a lot Soundless, wish you the same.

 

[champ]

Congratulations Champ and good luck for smooth landing and early settlement in Canada.

Thank you very much Abu Hassaan, Wish you the success in your future endeavors too.

 

[AberdeenGuy]

ALHAMDHULILAH.

Glad to share with the Forum, receipt of our Passports with Maple leaf 8) after a year long eventful journey.

Application submitted against all odds for a fast closing NOC - May 16th 2013

Fingers crossed CIC will accept all our documents! Cleared eligibility - July25th 2013

Big Lull from LVO for few months...

Shocking news(jan 20th) of Interview (retrospectively a blessing) - Jan 26th

Thereafter relatively smooth, Started processing - Mar 12, MR Apr 2, PPR May 24th...

In this blessed month of Ramadhan....
I Pray everyone sails through smoothly, speedily and successfully in the rest of their process.

And Pray we settle down successfully in Canada at the earliest possible.

Ramadan Kareem.

BIG Congratulations dub2Can and Best of luck for smooth landing in Canada

 

[AberdeenGuy]

Happy Ramadan Kareem to all muslims in this forum!

Remember us in prayers too.

Just got "Decision Made" on my ECAS.

JazaK Allah everyone for the support and congratulations to all guys who got updates as I missed lot of pages of the forum.

BIG Congratulations Champion and Best of luck for smooth landing in Canada. I am happy for you

 

[AberdeenGuy]

In Continuation to the above mentioned. I had a word with the Canadian Authorities to be specific with 'Canada Revenue Agency, Income Tax Department'. + Same confirmed by CBSA as well.

And these are my findings.

For the left over money:-

1. You are allowed to bring as much money you can.
2. You don't need to pay taxes on the money which you haven't not earned on the Canadian soil (before you become PR).
3. But you need to pay the taxes on the interest earned on that money until you bring that money in Canada. (For example- If I had 10k$ left over money after the 1st landing, and if I wish to bring this money after 2 years, I need to pay taxes on the interest of this 10k$, which my banks give me as interest let say 30,000 INR. So on this 30,000 INR I am liable to pay taxes to Canadian government.
4. For the tax reduction at the end of the year, make sure you have all the records to back up your claims that this money has earned overseas before you became PR. For example your old bank statements etc...
5. Or If you are employed after becoming the PR and working outside Canada you become liable for taxes for the money remit into your Canadian account, if that money earned in some certain countries where they have tax treaty then it will be tax free, but subject matters.

For the left over land:-

1. You can dispose off your land in your home country and then bring the money, there is no time frame to do this.
2. You need to pay taxes on the Capital Income earned after selling your land. For example- I had land worth 1,00000 INR. After my initial landing after 2 years if I sell this land for 1,50000 INR. 50K more than I my original price, so this 50k becomes my Capital Income, and my this 50,000 becomes liable for taxes.

So bottom line no there is no hurry to take all of your hard earned savings at one go. You can delay as much you can. Only one the Capital Income we have to pay taxes, and need to back up the claims with proofs.

Hope this will be of some help to all.

Highly informative Nkalra. Thank you so much

 

[Suleman Aziz]

Can someone pks tell me what are the avg charges to remit amount from Pakistan bank to canadian bank.?

 

[dub2can]

Congratulations dub2can. Have a safe and smooth landing to dream land .

Congratulation champ. Wish you a quick Visa stamping and a blessed life ahead....

Congo one milestone achieved, start preparing for the 2nd n toughest phase.

All the best.

Thanks and Well said... yes now the Phase 2 of the project starts, i have just started collecting the requirements, hope to go-live soon insha allah.

Buddy many congratzzzzzzzzzzzzz once again . Stay Blessed

Thanks and wish you speedy processing ahead.

Alf Mabrook dub2can. Masha-Allah you are through. Your interview buddies are still waiting (including dreamer) ;D Pray for us too

My fiend Jigzzy, Allah Yubaarik Feek.
My special prayers to my interview buddies, cool guy Jigzzy and nice guy dreamer Insha Allah u will get PPR soon. Moreover LVO seems to have picked up speed these days, so lets hope they move fast.

Congrats dub2can and champ

Ramadan Mubarak to all my friends.

Thank you Rawdah. Wish you a quick MR. Hope LVO give some credit to your servie in this forum and act fast

Congratulations..Dub2can....have a blessed life ahead...

Ramazan kareem

Thank U Mish and wish you a speedy processing ahead.

Such a very good news, congratulations mate.
Have a blessed Ramadan and smooth landing ahead

Thanks mate. Wish you get your PPR very soon.

Congratulations Dub2can and good luck for smooth landing and early settlement in Canada.

Thank u Abu Hassaan. Wish you too a blessed life ahead.

BIG Congratulations dub2Can and Best of luck for smooth landing in Canada

Thanks and Wish you get ur Visa stamped quickly.

 

[rawdah]

In Continuation to the above mentioned. I had a word with the Canadian Authorities to be specific with 'Canada Revenue Agency, Income Tax Department'. + Same confirmed by CBSA as well.

And these are my findings.

For the left over money:-

1. You are allowed to bring as much money you can.
2. You don't need to pay taxes on the money which you haven't not earned on the Canadian soil (before you become PR).
3. But you need to pay the taxes on the interest earned on that money until you bring that money in Canada. (For example- If I had 10k$ left over money after the 1st landing, and if I wish to bring this money after 2 years, I need to pay taxes on the interest of this 10k$, which my banks give me as interest let say 30,000 INR. So on this 30,000 INR I am liable to pay taxes to Canadian government.
4. For the tax reduction at the end of the year, make sure you have all the records to back up your claims that this money has earned overseas before you became PR. For example your old bank statements etc...
5. Or If you are employed after becoming the PR and working outside Canada you become liable for taxes for the money remit into your Canadian account, if that money earned in some certain countries where they have tax treaty then it will be tax free, but subject matters.

For the left over land:-

1. You can dispose off your land in your home country and then bring the money, there is no time frame to do this.
2. You need to pay taxes on the Capital Income earned after selling your land. For example- I had land worth 1,00000 INR. After my initial landing after 2 years if I sell this land for 1,50000 INR. 50K more than I my original price, so this 50k becomes my Capital Income, and my this 50,000 becomes liable for taxes.

So bottom line no there is no hurry to take all of your hard earned savings at one go. You can delay as much you can. Only one the Capital Income we have to pay taxes, and need to back up the claims with proofs.

Hope this will be of some help to all.

Perfect nkalra 8)

 

[dub2can]

In Continuation to the above mentioned. I had a word with the Canadian Authorities to be specific with 'Canada Revenue Agency, Income Tax Department'. + Same confirmed by CBSA as well.

As always great information. Thanks mate. Yet to finish 168 hrs for +1 :-*

 

[GC353]

No problem Gc53.....Have a blessed life ahead

Thank you, you too.