Posted on: 23-06-15 16:05:52
Hello,
I have got a PR visa and will be landing in mid July 2015. As per the CIC website, for a single applicant the funds to be carried is about CAD 11500.
How do people usually carry these funds from India?
I would be staying at my relatives place for initial couple of months (that would save me home renting costs) so is it possible to carry just $ 2000 in cash and show them the remaining funds from bank statements in an Indian bank account? Because I can wire them later.
I ask this to check if the bank conversion fees of INR to CAD can be avoided. Also, I am afraid to carry the cash / draft incase I loose it during travel.
Thanks
Roland
Use Traveller's Cheques. You need to carry it all and declare at the Customs.
Thesedays a Canadian bank account can be opened from India itself with a Canadian bank in Canada in dollars.You can do it online 
Some people go that route instead of carrying a bank draft, travellers cheques, cash etc
But the account has to be in your name..and you should have a detailed bank statement with you, when you arrive.
Thanks guys for suggesting options. A follow up question though......does someone having a Canadian job (offer letter in hand) also need to carry funds to show as proof?
Thanks
Roland
Quote:
Originally posted by roland_poly
Thanks guys for suggesting options. A follow up question though......does someone having a Canadian job (offer letter in hand) also need to carry funds to show as proof?
Thanks
Roland
-----
Some people wear Jackets, or Coats, that have an Inner Pocket with a zipper, a pocket in which you can carry your valuables very safely on long trips or voyages. If you do not have one, any Tailor will modify yours to enable with a fitting, or a pocket, and get you into Canada without losing the valuables en-route.
Now to the current issue. : The CBSA will ask you to provide the proof of such funds even if you have a work permit or a confirmed employment letter on you. That is the current rule.
Also, you can buy your requirements when the Rupee is Low, say @ Fifty to a dollar and reconcile with your bank account there in India, when the Rupee is low say 52 or 53 per Dollar. You will need a little help from some one there in India to accomplish this. This way you can take advantage of the market conditions and also make some money too. Think about it.!
These are practical suggestions, see if it suits your circumstances. Also carry a small amount of cash to tie you up in the interim. So, carry two such Demand Drafts and cash one whenever you need the funds. Once your regular salary starts to kick in, you can send the DD by Courier back to India.
Be smart, be a man... ( Russel Peters) https://www.youtube.com/watch?v=-qtrAMK7_Qk
FH.
