Amount of funds you HAVE to show while landing


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alexm   
Member since: Jun 05
Posts: 419
Location:

Post ID: #PID Posted on: 10-01-06 23:44:16

I plan to land in Quebec. While I was applying for immigration I saw that Quebec applicants needed a lesser amount to show in funds than for Federal ($10,000).

However, during my interview the case officer marked my Selection Certificate and wrote $10,000.

My question is - for a single person landing, is it absolutely necessary to show $10,000 at the time of landing? Or will it be ok if I carry around $6,000 and show that I have enough to make up the balance in funds in India - mutual funds, bank account etc.

The reason is that I'd like to leave some of my money in India.

I was wondering if people had experience with how strict immigration officials can be, or if there are workarounds to this.

I plan to land at Dorval (Montreal).



Janmeja   
Member since: Aug 05
Posts: 313
Location: hubbards NS

Post ID: #PID Posted on: 11-01-06 14:14:01

you need to carry the funds or more that are required by you. you can always take the money back. please relise that it may cause problems if you dont carry the money that you need to according to the immigration reqirements



Happy   
Member since: Aug 03
Posts: 309
Location: INDIA (sometimes Canada)

Post ID: #PID Posted on: 12-01-06 02:20:35

I donot know how you plan to live in Canada. but i feel you must have ready access to at least to $20,000 in Canada while landing. then you can settle down faster with a car, mobile, laptop and internet etc. you will earn this back in three months.

but you can land with $3,000 also then you will have to wait for many things for two to three years.


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Enjoy Happiness -- Happy from India


alexm   
Member since: Jun 05
Posts: 419
Location:

Post ID: #PID Posted on: 12-01-06 02:55:44

I want to take the least money possible for 4 months or so.

I definitely don't plan to buy a car (from my initial savings) right away. Regarding laptop and cell, I'll already be bringing them in.

So really all I want is money for the first few months, and to then transfer more money as and when I require it.



souvik_k   
Member since: May 04
Posts: 57
Location: Toronto

Post ID: #PID Posted on: 06-03-06 19:21:08

Do stock certificates count as proof of funds? I have a bunch of stocks(US stocks listed in Nasdaq) I would rather not sell at this point, but hold on for later. So I was thinking if it would be possible to show the certificates during landing and once formalities are done send it back to the brokerage house.
I am initially planning to come only for a couple of weeks and then do the formal move sometime around December-January which is why I don't see any benefit in liquidating the stocks at this point. I will have sufficient cash and credit cards to sustain me for the 2-3 of weeks I am planning to be there.



parag63   
Member since: Jan 06
Posts: 20
Location:

Post ID: #PID Posted on: 07-03-06 01:02:36

We are planning to land in Aug-Sep and have same question in mind..
We will do our landing procedures and stay there for one month and return to UAE.
Are 6000 $ sufficient for family of 2 and one toddler for one month??

Can rest of the funds be shown in the form of FDs and bank statements?

Anybody has experience with immigration agency's guest house?
If it is not good please suggest any other option..

Thanks..



LD   
Member since: Jul 05
Posts: 526
Location:

Post ID: #PID Posted on: 07-03-06 04:34:20

Hi Alexm,

Funds required go like this:

Number of
Family
Members Funds Required
(in Canadian dollars)
1 $10,168
2 $12,659
3 $15,563
4 $18,895
5 $21,431
6 $24,170
7 or more $26,910

It is expected that you will carry CAD 10,168.00
You can take every single penny of the money, or more, back when you go back. But for starters that is the requirement.

Sometimes they do not even check, they just ask you, " What funds are you carrying?' You say,"CAD10,000" and that is it. You just have to declare. Sometimes they want to have a cursory look-see.

However since you would be carrying CAD 10,000 or more, you have to declare the funds on a single page form. (Each time you cross border with more than $10,000 either way, either as cash, drafts or security you have to declare in writing in specified form).

As one cannot make a false declaration, I would carry that amount if I were you.

( If you have an account in a Canadian Bank, they may consider the certified bank statement as proof of funds.Maybe that could be a way around, so that you do not carry all the funds with you personally, but are also able to satisfy that funds are there for use. You can check that out)

Hi Souvik,
About stocks, you may have to ring up CIC and find that one out. That is not a common way to carry funds, but it forms part of securities and falls within broader definition of funds. (If you carry more than CAD 10,000 worth of stocks you would have to declare at border)

The Rule goes like this:

"Disclosure of funds:

If you are carrying more than CDN $10,000, tell a Canadian official when you arrive in Canada. If you do not tell an official you may be fined or put in prison. These funds could be in the form of:

1. cash;
2. securities in bearer form (for example: stocks, bonds, debentures, treasury bills); or
3. negotiable instruments in bearer form (for example: bankers’ drafts, cheques, travellers’ cheques, money orders.) "

:)



Contributors: alexm(5) LD(2) canada_hope(1) Sandman ca(1) Janmeja(1) AshwaniG(1) Happy(1) benparsad(1) souvik_k(1) parag63(1)



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