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wof37 Posts: 5
Posted On: 12/19/2016
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I don't have a Canadian bank account yet.
Can I bring funds into Canada if the bank draft has my father-in-law's name on it as he has been living in Canada for over 20 years and has a bank account?
I am also landing in the family-sponsored category.
As such, wonder do I need to prove I have sufficient funds ?
On the other hand, if I plan a short stay and return permanently in a few months time, is it still fine to bring in a considerable among of money with a bank draft under my father-in-law's name ?
Many thanks and regards,
David
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Moderator Moderator Posts: 4141
Posted On: 12/22/2016
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Hello David,
Thank you for sharing your situation and question with us.
We can appreciate that you would be interested in this type of information before you arrive.
In terms of who must show proof of funds upon entry, it generally applies to Skilled Immigrants (Express Entry).
The Proof of funds – Skilled immigrants (Express Entry) section of the Immigration, Refugees and Citizenship Canada (IRCC) website states,
Unless you are currently authorized to work in Canada and have a valid job offer from an employer in Canada, or you have been invited to apply under the Canadian Experience Class, you must show that you have enough money to support yourself and your family after you get to Canada.
You cannot borrow this money from another person. You must be able to use this money to pay the costs of living for your family (even if they are not coming with you).
You will need to show proof to the Canadian visa office in your home country that you have enough money when you apply to immigrate.
If it is the case that you are being sponsored by your spouse, common-law or conjugal partner, then you do not have to show proof of funds at the port of entry.
However, if you would like to bring money into Canada, you can find some important information in our Settlement.Org How do I bring money into Canada (proof of funds)? article.
You can also find some additional information on the Canada Border Services Association (CBSA) website in the Travelling with CAN$10,000 or more section.
I hope this information is helpful. Please let us know if you have further questions and if there is any follow up to your question/situation.
=====
Anna
Settlement.Org Content and Information/Referral Specialist, CIRS
Settlement.Org
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gmdria109 Posts: 2
Posted On: 2/25/2017
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Hi Team,
I am a permanent resident immigrant (provincial nominee) and will be my first time arriving in Canada on May 27, 2017. My question is about proof of funds:
The cash that I will be bringing is US$ 2,500 and the remaining US$7,000 will be in my bank account. Is my Philippine Bank statement acceptable as a proof of fund? (this bank account is activated internationally, meaning I can withdraw the money in Canada).
Note: I don't consider opening a Canadian account yet while in the Philippines. Id rather open an account when I arrive in Canada.
Thank you so much
Gloria D
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Moderator Moderator Posts: 4141
Posted On: 2/28/2017
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Hi Gloria,
Thank you for sharing your question with us.
As our website caters to newcomer in Ontario, therefore I assume that you are referring to the Ontario Immigrant Nominee Program (OINP) rather than another Provincial Nominee Programs (PNP). Different provinces have different requirements for their PNP programs.
You can find information about the OINP on Settlement.Org or on the OntarioImmigration.ca website. According to the OntarioImmigration.ca Question and Answer webpage, proof of funds refers to money you have in your bank account(s) – in Canada or overseas . Therefore proof from your bank account(s) in the Philippines should be sufficient.
We wish you the best of luck with your new life in Canada.
- Your Settlement.Org team
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ffjr1405 Posts: 1
Posted On: 5/31/2017
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Dear Team,
I am landing in Toronto with my family (Wife + Daughter) on June 3rd under the Federal Skilled Worker Category. I have a question on funds and other assets, appreciate If I can get some guidance.
1. I've opened a StartRight account and transferred funds into that account. The amount is as per the requirements in 'proof of funds'. The question that I have is for future transfer of funds, how and which form/s do I need to provide during landing? I have bank accounts in India and the UAE.
2. For immovable assets, such as property (apartment) back home in India, do I need to show evidence of the same? Also, what form should I be using for this purpose.
The reason for the questions is that I want to be transparent on what assets that I have so that in future, if I need to transfer the proceeds to Canada I am not taxed on the same.
Thanks in advance for your help.
Frank
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