Bringing money to Canada

[John_S]

Hi,

I did my landing last year from USA and went back to USA.

I am now moving from USA to Canada. I am planning to sell my home in USA and bring the money.

1. Is there any money limit to bring to Canada. Also do I need to declare it while entering Canada?
2. Can I transfer money from USA bank (Chase) to Canada bank (TDCanada Trust).

 

[rezafc]

Hi there,

1/ As far as I know, if you bring $10,000 CAD or more you have to declare it. Read here: http://www.cbsa-asfc.gc.ca/travel-voyage/ttd-vdd-eng.html
2/ Of course you can, it's your money. The banks will charge you a fee for transferring the money, for the amount rounding up to a house worth you are better off with private sectors like money exchange companies. But again you will end up losing a small percentage of your money.

Best of luck,

 

[Regina]

if you bring $10,000 CAD or more you have to declare it

Also you better have Sale papers as a clarification where you got those money from.

 

[John_S]

Thanks.

But I didn't declare this when I landed last year.

- Also, I think we need to declare this if we bring it as cash/money order while crossing border.
I don't need to declare if I do money transfer from USA. Correct me if I am wrong.

 

[canuck_in_uk]

- Also, I think we need to declare this if we bring it as cash/money order while crossing border.
I don't need to declare if I do money transfer from USA. Correct me if I am wrong.

It only needs to be declared if you are physically carrying it across the border in some form. A bank to bank transfer does not need to be declared.

Is the sale going to be completely finished before you establish residency in Canada?