How to take the domestic money out when you immigrate to Canada?

Bank telegraphic transfer is a traditional way of remittance. Large remittances, such as the down payment for buying a house, are generally wired to Canada. Wire transfer is faster and can be received in two days. When you open an account in a Canadian bank, you will get a remittance routing table with the payee's name, address and account number, SWIFTCODE and other Chinese and English information. You just need to give this remittance route table to the staff of domestic banks.

The cost of wire transfer usually includes one thousandth of the handling fee and telegram fee charged by the remitting bank, as well as the deduction fee of the intermediate bank. Because there is generally the highest remittance fee, the more remittances each time, the more cost-effective. So if you have the conditions, it is recommended to remit more money at one time, not too many times.

Some friends buy houses in Canada, and many of them use bank telegraphic transfer to remit the down payment from China. In particular, the down payment requirement for buying a house can be said to be a gift. For example, Mr. X, a permanent resident of Canada, recently bought a self-occupied house, and the down payment came from his parents' remittance. Mr. X is worried that the tax bureau will regard this overseas remittance as his income. However, it is common for parents to give gifts as part of the down payment for buying a house. If the frequency is not very frequent and the quantity is not very large, the probability of being selected by the tax bureau for tax investigation is relatively small. (Tips: Although gifts from parents, relatives and friends do not need to be declared and taxed, you must keep the evidence and provide it as soon as the tax bureau requests supplementary information. )

In the formal channels, the general international remittances handled by domestic banks for domestic customers are first converted into foreign exchange and then remitted through swift. For investors, immigrants, or international students, sometimes the demand for large overseas funds cannot be met by international remittance.

Second, transfer money overseas directly through remittance companies.

First of all, remittance companies are the largest channel of business at present. They generally have branches at home and abroad. Domestic branches are usually called underground banks, and overseas branches are usually called exchange companies or remittance companies. Remittance companies are legal in Canada, and their advertisements can be seen on major newspaper websites; However, due to legal problems, branches in China often do not advertise to the outside world, but rely on word-of-mouth or introduction by immigration agents. The operation of the remittance company is very simple. Domestic customers who need remittance will deposit RMB into the designated account of the remittance company in China, and the overseas branch of the remittance company will pay the money to the customer's designated account abroad at the agreed exchange rate.

Some remittance companies complete the transfer of funds from domestic to overseas through exchange intermediaries, which prolongs the time for funds to arrive in the account and takes a long time to complete the remittance, but the general fee is lower than the former.

Another less common way is to buy locally raised American real estate funds, which takes a long time and can only be required to stay in the United States in the form of dollars after the investment expires.

Third, transfer money from Hong Kong to Canada.

The difficulty lies in how to transfer the money to Hong Kong. The easiest way is to put the cash directly in the luggage and bring it from Shenzhen to Hong Kong. There is no extra cost in this way, but there are risks. Or through some agencies, using some "water passengers" who specialize in running errands, a small amount of cash is transported across the border many times, and then deposited in the bank account in the name of currency exchange points.

Another common way is to find a friend's trading company. Some trading companies are engaged in import and export trade and also help transfer money. However, trading companies can usually only help to transfer to Hong Kong, and then the remitter can handle the subsequent remittance or transfer from Hong Kong HSBC to Canada HSBC can save a remittance fee.

In addition, some people buy Hong Kong insurance to transfer money. This kind of insurance product sold in Hong Kong is very expensive, and it can be surrendered and the beneficiary can be changed. When the insured or the replaced beneficiary surrenders in Hong Kong according to the contract, they can exchange funds abroad.

Remittance from Macao to Canada

Another option is to find a way to bring money to Macao. Macau is famous for gambling, and it is of course inseparable from casinos to transfer money to Macau. The first way is to put the money into the bank debit card to participate in the exchange of VIP customers in the casino, and then help the broker arrange the chips to change from "dead chips" to "live chips" in exchange for funds, but not return the bank card; The second way is to buy brand-name watches or jewelry in shops and pawn shops supporting casinos and pawn them on the spot.

Verb (abbreviation for verb) A person who has special resources.

Establishing a company abroad is a way, and this kind of capital transfer usually goes abroad in the form of normal overseas investment of enterprises. It is necessary to register an offshore company in Panama, Cayman Islands and other places first, and move the book funds out bit by bit through a third party. People who use this method to transfer funds are mostly executives of large enterprises or the person in charge of a specific business. This method usually requires some knowledge of international accounting and finance, which takes a long time.