Hi Guyz!
There is some confusion regarding the settlement funds which are required at the time of landing... could these funds be in any currency ? Can it be in an Indian Bank A/c as long as it is unencumbered and belongs to you? Can these funds be shown in parts ... my local uae bank a/c + my spouse's a/c in UAE?

Also, juz wanted to reconfirm... we are presently in UAE and planning to land somewhere in April/May'09 ... we were informed by another friend of ours that we need to carry the settlement funds (Approx. CAD 14,000/-) either in cash or traveller's cheque in CAD at the time of landing... plus the amount needs to be declared (Funds in any form above 10,000 CAD)

Is it possible to just take a local UAE bank statement + a couple of CAD for a few days expenses or local currency (AED) equivalent to settlement funds in CAD or can we take USD since the AED is pegged to USD and incase, if we just enter & exit upon completion of PR formalities we risk a substantial loss in re-exchange (i.e CAD to AED) and moreover do we need to declare the amount while flying out ?

Any suggestions / advice / tips ..most welcome.

Thanks in advance: confused:

You have to have the minimum number of dollars that it calls for in your case. That includes your spouse also.

They could be a sum of Zloties, Quatloos, Takas, Urpees or Wampums as long as they all add up to or more than the required amount. That means a Total of both of all of the accounts with you. They could be securities too.

To simplify the matter for you, as it is apparent that you are heading back to the greener pastures, get a DEMAND Draft from those accounts favoring you or the spouse. Declare ALL of the amounts that you are carrying, including the last dollar at the time of landing, that you are CARRYING ON YOU, during the entry. That will keep you complying and out of trouble.

Then, when you laad back, since they are in the denomination of the country from which you came here, and you have not lost it or cashed it, deposit back into the same account without a loss, except a few dollars in interest. ( I am thinking it is a period of one month or so. Will this help you?

Hope it does.

Freddie.

(The only time it becomes unencumbered and yours is when the DD is in your favor here at the time of landing and it is on your PERSON and you can show it 'if demanded' as a proof. They might never ask!)

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Originally posted by ftfl

Thanks a lot Freddie ... appreciate your advice

Whr r u 4m? & whr in canada r u settled in?

I m 4m Goa ... presently in Dubai

Rgds,
Sam