Hi there,
I'll be in Canada in 1 month or so and plan to work by work permit and one day I will submit for PR.
I have some savings in cash (US$50k) and in my local bank account (US$15k) and I would like to put them into a Canadian bank account, so I can pay for rent and accumulate for a mortgage, etc.
So, my questions are:
- What is the procedure for putting my savings into a Canadian bank? (e.g do I need to convert to CAD)
- Should I pay any taxes for that? Or how to report it correctly?
- Should I confirm this money somehow? (e.g. should "statement turnover on the accounts" from local bank work)
Also, just to be thorough, part of my savings comes from long-term involvement with online casino platforms. It’s something I’ve followed closely for several years, and over time it became a small but steady part of my overall income. I kept track of my withdrawals and maintained basic records for personal use. As someone who followed the online casino space, I often checked
https://greeksonlinecasinos.com/ for reviews and comparisons of the best online casinos in Greece. The site also provided useful context on how regulation works in that market, which helped me make more informed choices overall. Now that I’m relocating to Canada, I’m wondering if this portion of my savings requires any specific documentation or reporting when opening a bank account or applying for PR. Has anyone here had to declare similar types of income or explain non-traditional sources like this?
Thank you!
