How Much US Dollors Can one Bring?


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Mohanjeet   
Member since: Feb 04
Posts: 281
Location: Brampton

Post ID: #PID Posted on: 01-04-05 10:16:09

What is the permisable amounts of US Currency a landed Immigrant can bring back from his visit to India per person?



Smiley   
Member since: Mar 03
Posts: 1185
Location: USA

Post ID: #PID Posted on: 01-04-05 11:49:42

Any amount but if it is greater than 10 K Cdn or 10k US you will have to declare it at the customs. Thats all but you can bring it in


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atyagi   
Member since: Jan 05
Posts: 58
Location: mississauga

Post ID: #PID Posted on: 01-04-05 12:33:06

So if you declare, are you taxed for the amount over 10K. How does it work.?

What is the best option for me to bring over 100k from India.



Smiley   
Member since: Mar 03
Posts: 1185
Location: USA

Post ID: #PID Posted on: 01-04-05 19:10:27

No taxes on money that you get in

They just want you to declare so that they can be sure that it is not "DRUG MONEY" going in and out of the border

100K , you can transfer through a bank draft. No big deal . Just declare it at the customs


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atyagi   
Member since: Jan 05
Posts: 58
Location: mississauga

Post ID: #PID Posted on: 01-04-05 20:15:37

thanks for the information smiley. Pardon my ignorance how do you get over 100k US dollars drafts from India.



indione   
Member since: Feb 05
Posts: 76
Location: Canada and India

Post ID: #PID Posted on: 02-04-05 00:11:14

As an immigrant you can legally transfer USD 100,000 per family member..If you are disposing your assets you can legally transfer 1 million dollars...normally if a bank is involved in the transfer, it will be thru a draft...


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