Hi,
In Canada, it is mostly hard earned money only !
Apart from that , you can take the money in Cash to India.
When it is above USD 10,000, then you will have to declare it in Indian customs. This involves like 10 mins of paper work done by the officials.
However, you will have to count the money in front of the officials (the officials are barred from touching the moeny). Once it is counted they give you a receipt.
Very straightforward and no bribes involved.
However, you will have to research on how they money will be accepted in a bank in India. (possibly may be easy with the receipt).
Thank you for bringing such moeny to India.It will raise the holding of Forex to the Indian govt.
Peace at all stages.

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I am a Gents and not a Ladies.

Though there is no limit to import of foreign currencies into India, you got to declare at airport if
- CASH is more than 5000 USD or Equivalent (per person)
- In case you bring in cash less than 5000 USD or equivalent but sum of your cash and Traveller cheques/ bank draft is more than 10000 USD or equivalent

Apart from carrying the cash/cheques/drafts, other options you have are
- NRE Acct - a good option
- Western Union
- Ask if some friend is looking to bring in money from India. this route will save you some on exchange rates but you cannot do this for large amounts. Careful here ! after the exchange, do not go to banks with large cash in these cases.

Quote:

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Originally posted by mcg7

Hi CD`s i live in Small town in Canada
I am planning to take around 20 thousand CAD(whole life saving) to India.
what is the best (min risky) way to take money with me.
I prefer to take it as cash.

* do i need to report this amount in Canada /.
do i have to take receipt from my bank(scotia bank) with me /.

* i really worry about custom officials in India, will they ask some bribe , if i will report this money at Delhi Airport
do i really need to report it in delhi or i can take it without reporting as i `ll have bank reciept from canada.

any CD experienced such issue.

please advice

thanks

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Strike a deal with Raj in this thread -> http://canadiandesi.com/read.php?TID=32515

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SS
Reiki Grand Master

AFAIK, you can transfer 20 K CAD to NRE account without even converting to INR. You can hold funds in CAD currency.
Another option, if u walk into ICICI or SBI they will negotiate the exchange rate if it is over 10K. This way you will get special exchange rates. Unless you are very confident about getting better rates in Bharat.

Hi,
ICICI bank, has an account which allows you to transfer funds without any transfer fees, you can close this account within 15 days without any penalty,( this account bears monthly fees, )
Last Dec, I did transfer $40k last Dec, the same way from ICICI bank ac to my Axis Bank account in Mumbai, yes and they do offer exchange rates which is higher than those posted rates for that day ,when the amount is more than 10 K.

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mor

Whenever you experience joy, peace, security, equanimity or purity, it is only because you are aligned with ALMIGHTY.

Quote:

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Originally posted by jigz787

AFAIK, you can transfer 20 K CAD to NRE account without even converting to INR. You can hold funds in CAD currency.
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