Proof of Funds

[smilekumar]

I have got the PR Visa & COPR my query is regarding proof of funds.

Question # 1)At the time of application I have mentioned that i can bring $50,000. As per the website http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

Number of Family Members = 4 ( 2 adults + 2 kids )
Funds Required(in Canadian dollars)= $20,654

Please advise which is the correct amount of Canadian doallars that i have to bring a) Amount mentioned in Application or b) Amount mentioned in the CIC website ?

Question #2)
What is the procedure to bring those funds ?
a) can I open a bank A/c in Canada before landing I mean with visa & COPR ?
b) How to wire transfer the funds without a opening a bank a/c ? please advise
b) If the funds are in my base country banks ( India) how do i show those funds as proof of funds ? please specify.

I'm, making travel arrangements, your response will help me a Lot.

 

[babbu.mann]

Say u have to carry $21,000 with u, get $3000 in cash from any bank and £18000 DD on principal applicant's name from same bank.

Leave $29000 in Indian bank (SBI) as a FD, you can earn healthy interest on it..coz in Canada u won't get good interest on money and
exchange rate is very high (one dollar = 57 Rupees) and next year it may be again one dollar = 45 rupees. Then u can transfer the funds back to Canada @ good rate...Choice is yours,I can only suggest

rabb rakha
Babbu

I have got the PR Visa & COPR my query is regarding proof of funds.

Question # 1)At the time of application I have mentioned that i can bring $50,000. As per the website http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

Number of Family Members = 4 ( 2 adults + 2 kids )
Funds Required(in Canadian dollars)= $20,654

Please advise which is the correct amount of Canadian doallars that i have to bring a) Amount mentioned in Application or b) Amount mentioned in the CIC website ?

Question #2)
What is the procedure to bring those funds ?
a) can I open a bank A/c in Canada before landing I mean with visa & COPR ?
b) How to wire transfer the funds without a opening a bank a/c ? please advise
b) If the funds are in my base country banks ( India) how do i show those funds as proof of funds ? please specify.

I'm, making travel arrangements, your response will help me a Lot.

 

[wilson]

I have got the PR Visa & COPR my query is regarding proof of funds.

Question # 1)At the time of application I have mentioned that i can bring $50,000. As per the website http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

Number of Family Members = 4 ( 2 adults + 2 kids )
Funds Required(in Canadian dollars)= $20,654

Please advise which is the correct amount of Canadian doallars that i have to bring a) Amount mentioned in Application or b) Amount mentioned in the CIC website ?

Question #2)
What is the procedure to bring those funds ?
a) can I open a bank A/c in Canada before landing I mean with visa & COPR ?
b) How to wire transfer the funds without a opening a bank a/c ? please advise
b) If the funds are in my base country banks ( India) how do i show those funds as proof of funds ? please specify.

I'm, making travel arrangements, your response will help me a Lot.

The required minimum funds as per CIC is $20,654 .
You can bring any amount exceeding the said funds to Canada for settlement. That could be by way of cash, DD or TC. But considering the safety while travelling, it is better to carry some amount ( say up to 5000 ) in cash and balance by TC or DD. If you get DD you have to consider the banks collection time. Therefore the cash to be for at least one month's expenditure. However, you can even ask your Indian bank to transfer the rest of amount to Canada once you land and open a bank account in Canada.

You can only wire transfer the amount to Canada after you get an account opened in Canada. After getting your SIN you will be able to open a bank account. Some banks used to open account for you before reaching Canada but I suggest you decide about a bank once you already landed considering the nearest bank to your residence and those who have the no fee banking services. If you have CAD 5000/= with you as cash, you would able to manage before getting all the funds in your account.

There is no limit for bringing foreign funds to Canada by an immigrant for settlement purpose. Amount exceeding CAD 10,000/- should be declared to CBSA while landing. It is not taxable.