Transferring Money to Canada

[emvee1967]

My wife and two kids are in Canada now for the last 2 years. I plan to move to Canada later this year. I made some arrangements with one of my friends that he will transfer about 500O CAD per month to my bank account in Canada.Should I expect any tax issues form Canada?
What are other options for me? Can I use my UAE debit card in Canada? My friend can deposit money in my Dubai account and I can withdraw from Canada. Is it a viable option?
Starting HSBC premium account is not possible for me,as they need about 350K AED to start the account.

If I keep my Dubai resident visa with out cancelling, will it affect my PR renewal later?
Please advice and thanks in advance.

 

[steaky]

At the back of your UAE debit card, what logos does it have? Any logos such as "Plus system", "Cirrus", and "Unionpay" which you can use in Canada?

 

[emvee1967]

It has cirrhus on the back. I have used that before in Canada.
Is using Debit card better that transferring money?

 

[steaky]

It really depends on the following factors:
1) how much you can withdraw from the bank machine;
2) how much you need to spend;
3) Whether or not you need a big balance of money in a Canadian bank for security and other financial uses (such as line of credit, getting secured credit card, etc);
4) bank charges for each transaction
5) exchange rates
6) Physical conditions of the UAE debit card. If it is damaged or becomes obsolete, you cannot use it.

 

[emvee1967]

Dear Steaky,
Thanks for you reply.
Is it OK for my friend in UAE to send money to my Canadian bank account monthly, say about 6,000 CAD per month with out tax issues.

 

[emvee1967]

Please, somebody help me in making a decision.

 

[voltron]

I am from the USA and I opened a Candian bank account long before they even started to process mynapplication. I went to Canada as a tourist, and made an appointment with the bank. They opened my account, and linked it to a US account that they are affiliated with. From the Canada side I have no tax issues, bc i was not a resident of Canada, nor did I have a social insurance number for them to track me. Plus since the money was earned in the Usa there really is no tax issues. Well with my Canadian bank account linked to a US account it was a matter of seconds for me to transfer money from US to Canada. The US has some restrictions for transfering 10000 or more, so I kept my transfer below it, in order to avoid any hassel. Im sure you can find a bank in Canada that has affiliates all over the world that can set up a similar link for you to transfer money.

 

[voltron]

you may be able to use your dubai debit card in Canada. I was able to use a USA, I just had to inform my bank in the USA that I was going ti be using it in Canada.

 

[kaisin82]

How about HSBC advance?