Posted on: 06-06-08 14:39:33
I an planning to land in Canada in June 2008 but not move there permanently until 2009. Currently, I live and work in the US.
Questions for you:
1. Does a valid Canadian visitor visa get cancelled when the consulate stamps the PR visa?
2. The fund requirement for 1 person is $10,601 - do I need to take the money (bankers cheque / TC / cash) with me when I land? Or is a bank statement sufficient?
3. After landing, do I need to open a Canadian bank account and leave the money there or can I bring it back to the US?
4. What are the implications of opening a bank account from an income-tax / PR status perspective?
5. Do I need to take my jewellery items with me or just the list and the photographs with the cross-references?
Appreciate your guidance - thanks.
Quote:
Originally posted by fla3757
I an planning to land in Canada in June 2008 but not move there permanently until 2009. Currently, I live and work in the US.
Questions for you:
1. Does a valid Canadian visitor visa get canceled when the consulate stamps the PR visa?
2. The fund requirement for 1 person is $10,601 - do I need to take the money (bankers cheque / TC / cash) with me when I land? Or is a bank statement sufficient?
3. After landing, do I need to open a Canadian bank account and leave the money there or can I bring it back to the US?
4. What are the implications of opening a bank account from an income-tax / PR status perspective?
5. Do I need to take my jewelery items with me or just the list and the photographs with the cross-references?
Appreciate your guidance - thanks.
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"I an planning to land in Canada in June 2008 but not move there permanently until 2009. Currently, I live and work in the US."
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Please don't make this kind of statement to the Officer at the border. Tell him you are crossing the border to settle down PERMANENTLY IN Canada. Once you get the passport stamped and cross the border, you can change your mind.
1) NO
2) Not required. A credit card will do at the crossing. But have your total assets in a presentable form and with supporting documentation. Assets and liabilities etc.,
3) NO
4) Do you enjoy English Music ? Then go and listen to the " Tchaikovsky's Nutcracker Suite". Please do the search in CD. There is an exhaustive study on this subject.*
5) Declare them any way. If you have them on person, then have them evaluated prior to entry and with pictures to support. Needs appraisal from a certified gemologist. (with current day digital photography it could be done in hours)
* Do not open a Bank account,
Get any medical cards,
Driver's License. or buy a car.
Buy a Property for rent or living.
Many such things, till you come here to settle down PERMANENTLY, all of these for Tax reasons. But do apply for the PR card and give a LOCAL Canadian Address.
Hope this helps,
Welcome to Canada.
Freddie.
Quote:
listen to the " Tchaikovsky's Nutcracker Suite".
LOL. Brilliant one!!!
Hi ftfl,
What are the implications if a new PR opens a bank account, leave Canada and return after 3 years?
He should pay any tax or any other complications?
Please explain which will be more helpful for newcomers
Before a person is considered no longer a Canadian RESIDENT for tax purposes, they take a lot of things into consideration. So, Please read through this section of the Canada Revenue Agency to get an understanding of the rules that have put in place...
http://www.cra-arc.gc.ca/tax/nonresidents/individuals/leaving-e.html#b
Even after you leave and reside in some other country, they toss up to see who can get the last drop of blood out of you. It is called the tie breaker rule. They will squeeze the last ounce of blood out of you, if they can find a Red Cross Center handy to where you live, after you move.
That is the current status in the books.
Freddie.
