I had a query that is it advisable to open a bank account once I do my soft landing as i don't intend to move there permanently for the next 1-2 years.
Would it affect in any case regarding opening a bank account and getting a credit card if I do it after 1-2 years?
I had a query that is it advisable to open a bank account once I do my soft landing as i don't intend to move there permanently for the next 1-2 years.
Would it affect in any case regarding opening a bank account and getting a credit card if I do it after 1-2 years?
You should open a bank account and also get a credit card. As a new immigrant, you'll be given a low-limit card ($1000-$1500), but this establishes your credit history which is EXTREMELY important in Canada.
Heck, open two bank accounts and get two credit cards. That's even better (that's what I did). There's no bar on opening multiple accounts.
You should open a bank account and also get a credit card. As a new immigrant, you'll be given a low-limit card ($1000-$1500), but this establishes your credit history which is EXTREMELY important in Canada.
Heck, open two bank accounts and get two credit cards. That's even better (that's what I did). There's no bar on opening multiple accounts.
I am an Indian, working in Myanmar and will be soft landing on 22 June. Will stay with my brother for 3 weeks and return to Myanmar for 2 years to complete my contract.
1-For POF, can I carry approx 2000USD in cash and an updated bank statement for my foreign currency account for the remaining amount?
2- If I open a bank account in Canada during soft landing and take a credit card, will I be establishing ties that may attract Canadian Tax on my foreign earnings?
Thanks in advance
I am an Indian, working in Myanmar and will be soft landing on 22 June. Will stay with my brother for 3 weeks and return to Myanmar for 2 years to complete my contract.
1-For POF, can I carry approx 2000USD in cash and an updated bank statement for my foreign currency account for the remaining amount?
2- If I open a bank account in Canada during soft landing and take a credit card, will I be establishing ties that may attract Canadian Tax on my foreign earnings?
Thanks in advance
You should open a bank account and also get a credit card. As a new immigrant, you'll be given a low-limit card ($1000-$1500), but this establishes your credit history which is EXTREMELY important in Canada.
Heck, open two bank accounts and get two credit cards. That's even better (that's what I did). There's no bar on opening multiple accounts.
Hey 21Goose, I have a query please that is related to this, does opening an account and issuing a credit card deem me a tax resident (no cash in the account, didnt use the credit card at all not even once)
I soft landed 6 months ago
Hey 21Goose, I have a query please that is related to this, does opening an account and issuing a credit card deem me a tax resident (no cash in the account, didnt use the credit card at all not even once)
I soft landed 6 months ago
It says that "bank accounts" is a secondary tie that may be relevant. If the ONLY tie you have to Canada is a bank account that you never even used, it's hard to see how that could make you a deemed resident.
Of course, I'm not a tax lawyer, so keep that in mind.
It says that "bank accounts" is a secondary tie that may be relevant. If the ONLY tie you have to Canada is a bank account that you never even used, it's hard to see how that could make you a deemed resident.
Of course, I'm not a tax lawyer, so keep that in mind.
Thank you 21Goose, appreciated
I have another question which is unrelated to the post but related to the soft landing experience, I am sorry for that but its just making me nervous
Now I was asked to fill the cbsa declaration card on the plane and in that form I didnt fill the visitor section ( even though I was soft landing but I didnt think this section implied to me). Also in the resident part where it asked to check yes or no for going above the limit of the customs I did declare no which was truthful but I didnt know if I was actually a resident . Was that misrepresentation and will it cause any issues to me in the future (citizenship application).
One more thing in that form in the home address section, I didnt know what was that so I filled in my relatives address (the one where the PR card was sent to) but I didnt stay at that address and I was staying in an airbnb but I thought that this address is the address that I am supposed to fill in order to send the cards to.
What should I do was that wrong?
Thank you 21Goose, appreciated
I have another question which is unrelated to the post but related to the soft landing experience, I am sorry for that but its just making me nervous
Now I was asked to fill the cbsa declaration card on the plane and in that form I didnt fill the visitor section ( even though I was soft landing but I didnt think this section implied to me). Also in the resident part where it asked to check yes or no for going above the limit of the customs I did declare no which was truthful but I didnt know if I was actually a resident . Was that misrepresentation and will it cause any issues to me in the future (citizenship application).
One more thing in that form in the home address section, I didnt know what was that so I filled in my relatives address (the one where the PR card was sent to) but I didnt stay at that address and I was staying in an airbnb but I thought that this address is the address that I am supposed to fill in order to send the cards to.
What should I do was that wrong?
