Transfer money from India

[rish_ind]

Hello All,

Greetings.

Can someone suggest the best possible way to bring money from India to Canada?
I am asking a question for bigger amount to buy a house here and not asking for a settlement fund for immigration purposes.
And what are the tax obligation?

Thanks

 

[zardoz]

Hello All,

Greetings.

Can someone suggest the best possible way to bring money from India to Canada?
I am asking a question for bigger amount to buy a house here and not asking for a settlement fund for immigration purposes.
And what are the tax obligation?

Thanks

Wire transfer is probably the easiest way. No specific tax implications for a direct movement of cash as far as I am aware.

 

[subodhp]

Hello All,

Greetings.

Can someone suggest the best possible way to bring money from India to Canada?
I am asking a question for bigger amount to buy a house here and not asking for a settlement fund for immigration purposes.
And what are the tax obligation?

Thanks

No tax implications on your wealth
Folks do wire transfer unless they have an account in Canada already
Also look at transferwise

 

[Gsk47]

Hey Rish_Ind
I am in same situation and need to transfer big amount from India to Canada for buying house. I am moving on PR to canada
Can you please suggest based on your experience
Thanks
Gursharanjit

 

[kannanl2k]

No tax implications on your wealth
Folks do wire transfer unless they have an account in Canada already
Also look at transferwise

Transferwise has a limit of INR 650,000. I am still trying to find the best way

 

[gurpreet.ts]

Hey Rish_Ind
I am in same situation and need to transfer big amount from India to Canada for buying house. I am moving on PR to canada
Can you please suggest based on your experience
Thanks
Gursharanjit

If you don't mind showing the transfer in your bank statement history for the mortgage then I would strongly recommend to transfer directly from your bank in India to your bank account in Canada. I have done this in the past and had no issues. Message me if you have any further questions.

 

[gurpreet.ts]

Transferwise has a limit of INR 650,000. I am still trying to find the best way

There are multiple ways, not sure how do you define best.

 

[Anita6336]

If you don't mind showing the transfer in your bank statement history for the mortgage then I would strongly recommend to transfer directly from your bank in India to your bank account in Canada. I have done this in the past and had no issues. Message me if you have any further questions.
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Hi i have few questions tegarding bring money from india via SBI Bank. Can you please help