Questions about how to prepare for your first arrival in Canada - customs, proof of funds, initial settlement help, etc... Tell us what happened when you first landed in Canada.
Can my Proof of Funds be in US dollars?
|
pfernando Posts: 3
Posted On: 1/18/2016
|
I know from the CIC website that funds can be brought in to Canada in the following forms at landing:
Cash
Securities in bearer form (for example, stocks, bonds, debentures, treasury bills)
Negotiable instruments in bearer form (for example, bankers’ drafts, cheques, travelers’ cheques or money orders)
My question is if it's in cash does it matter what currency it is? Specifically, is it allowed to bring all the currency in USD? Are there any limitations to this?
|
|
|
link
|
|
PMM Posts: 661
Posted On: 1/19/2016
|
Hi
I know from the CIC website that funds can be brought in to Canada in the following forms at landing:
Cash
Securities in bearer form (for example, stocks, bonds, debentures, treasury bills)
Negotiable instruments in bearer form (for example, bankers’ drafts, cheques, travelers’ cheques or money orders)
My question is if it's in cash does it matter what currency it is? Specifically, is it allowed to bring all the currency in USD? Are there any limitations to this?
1. It doesn't matter which currency your Proof of Funds is in, as long as it is convertible in Canada. Note if you are carrying over $10K in currency and other types of funds, it must be reported if you are leaving the US and reported when you enter Canada. There are no taxes, but it must be reported.
PMM
|
|
|
link
|