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Money + Jewellery

Discussion in 'Settlement Issues' started by SE89, Sep 26, 2019.

  1. Dear All,

    Hope all is well.

    I just received my passport request so I am planning to move to Canada in a few months. I have a few questions and any help would be appreciated:

    1) I have a lot of jewellery. I am planning to bring some with me at landing, and bring some in the future.
    A) How do I declare the jewellery I am bringing with me? Is there a form I can fill beforehand? Do I need to provide photos?
    B) How do I declare the jewellery I am planning to bring with me in the future? Is there a time limit? Is there a form I can fill beforehand? Do I need to provide photos?

    2) I have money in a bank account back home and I am planning to wire transfer it later on once I establish my residency in Canada. Is there a time limit to which I can transfer them to Canada? Is there a form I can fill beforehand? Do I need to provide bank statements?

    3) I am planning to land in Canada for a few months (less than a year) then go back to my country for a bit. I heard that if I want to declare items to have them delivered to Canada duty free later on, I must stay in Canada for at least 12 months when I first land. Is this correct?

    Thank you in advance!
     
  2. 1
    A. same processs as other goods except in addition to listing them, you will need to provide photos. You can digitally print photos in a document. Some people even get certifications of their value assessed although that is usually not necessary unless you are bringing in loose greens that cannot be distinguished in photos.
    B. Again same process really, for future items you put them in follow list, for things coming with you, you put them in accompanying list. Yes for photos. No time limit but declaring them in your first landing when you intend to settle for a year is mandatory i.e. any items not added in follow list at that point will incur duty later.
    2.No process or timeline is in place for wire transfer. There are no restrictions from Canada side. might want to check your originating country for any implications arising from Los of residence status. For ex folks from China and hold countries have reported inability on these forums to transfer funds once outside country
    3. Correct
     
  3. Thank you for your detailed reply. Everything is clear now other than point (3). If I am planning to land in Canada for a couple of months to obtain the PR then go back to my country for a few months to finalize thing before finally settling in Canada, when shall I declare all of my jewellery and money that I plan to bring later on? I thought the only option was to declare it in my first visit.
     
  4. At the secondary of the customs office, you report all your jewelries but not the money you plan to bring later on.
     
  5. You declare your 'goods accompanying' and 'goods to follow' on separate lists when you kand as settler (ie NOT on a soft landing ). I assume you would have your jewellery with you, so tgat would be listed on your goods accompanying when you land for good.
     
  6. Hi Guyzz,
    I am traveling to Canada in October month.

    Below are the query w.r.t for carrying jewellery.

    A. While declaring the jewellery what's the highest limit?

    B. Do I need to carry photos & bills/ jewellery evaluation document for the jewellery that I am carrying with me.

    C. For the jewellery that I will be carrying in future, while declaring do I need to share photo & jeweller evaluation for the same.

    D. If I don't declare now, how much tax I need to pay to customs when I carry them in future.

    Please help with the below query.
     
  7. A) No limit
    B) Yes
    C) You need to bring the stamped BS186 form (see above)
    D) There is an online calculator in the CBSA website. You can get an estimate.
     
  8. C. Yes, your photos and evaluations will be attached to goods list and personally checked against when you bring them in future
     
  9. My wife will soon be landing in Canada arriving as a Permanent Resident under the Spousal Class. I know she doesn't have to show sufficient funds but still she is planning to bring some money from India to Canada. My bank in Canada said she can wire transfer the amount to her newly opened account or my account and they will take care of informing CBSA about the money

    Questions

    1) If she wire - transfers it to my Canadian account from India , then will it not seem like I received money and I will be taxed right ??

    2) If she wire - transfer it to her new account which I open for her here in Canada , then she doesn't have to pay tax as she is landing first time right ?? In options 1 and 2 ,I understand she doesn't have to tell airport officer that she is transferring money as its a wire- transfer ( even if its above $10,000) as she is not physically carrying money . Or to be on the safer side she can also just show proof ( receipt) that money was wire transferred to her Canadian account if the officer asks . Correct me if I am wrong info here

    3) We initially thought she will take draft to be put in her account ( buy cad money from money exchange in india ) , inform Canadian airport office that she is carrying more than $10,000 and so everything is good. But I feel that's more of a headache .Is there a conversion rate difference while wire transferring vs getting draft from india

    Out of these options isn't the 2nd one better ??

    In above said matter, is there any correction of info you would advice ??
     


  10. You would not be taxed.



    She would not be taxed. CBSA couldn't care less about wire transfers, no need to tell them anything. You only tell them if she is brining in $10,000 or more IN CASH ON HER PERSON. She is NOT taxed on that either.

    You could I suppose, but a simple wire transfer is by far the easiest.


    You are over-thinking and over-complicating this. Just do a wire transfer any time you like.
     
    trendz!! likes this.

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