Does anybody know how much cash you can take over when you immigrate?

Carry on is limited to 65lbs on AC. I guess that'd be a lot in large denomination bills.

Classsic

Shame if you got only coins


I think the limit before declaring is $10,000....though i would confirm that

rgds
Mans

You do have to declare ten grand or more and, I would think, have some credible explanation for the source of the money but there's no limit on what you can bring if you can explain how you came by it. I would avoid using canvas bags with the words Swag or Royal Mail on the side.

More seriously, if you turn up with, say, GBP1,000,000 in cash the authorities are likely to assume that it's drug money and test it. Almost all British money tests positive for cocaine so even if you did win the million quid on the Grand National, guv'nor, you're likely to get busted for something or other. Better to get an offshore bank account, deposit the money at a nominee bank in the UK and withdraw it in cash from machines in Canada.

As much as you want, there is no taxation or limit on what you can bring into Canada, but anything over $10k has to be reported on entry.

Reporting it doesnt attract taxation, its there to keep tabs on money laundering.

Do you need to inform them of the potential cash from a prospective house sale, for example say I generated £50 000 if I sold my house at the end of 2006, do I report this upon landing to them now or later?

Regards Scotty 1972

I'm no fan of the banks but £50,000 is an awful lot to carry around in cash, aren't you worried about leaving it on the bar or attracting undue attention when you rummage for change for a bus ticket ?

dbd, I'd love to say that I would be carrying that amount of Cash , but I would'nt! However how do you account for pending house sale proceeds, if you are not selling your property straight away.

rgds Scotty 1972

No.

Read all about it

I dont think this applies to wire transfers etc, just cash/ cash equivalents. In that case if you bought it as cash or whatever at some other time you would report it on entry then, but in reality you would open an account in canada, wire transfer the money, and get a statement of your Canadian account to show proof of funds on landing, but thats a whole seperate issue to the reporting.

After you have landed if its not cash in hand, just a transfer, there is nothing to report. Presumably there is some sort of internal bank scrutiny of funds to take care of any money laundering surveilance on transfers?

Doesn't it come under "unecumbered funds" on IMM0008 (or the equivalent)?


If it's not cash, then the issue is only whether or not it's taxable, cash (like actual folding money) is subject to a whole other set of concerns to do with laundering.

Thanks IainK and DbD33

After briefly searching the forum and your advice, I think what I need to do is have an upto date house valuation, and if I sell within the near future I wont be liable to UK Capital Gains, but may be liable to the tax gain since the valuation in Canada.

When I transfer the money electronically the banks etc inform the authorities of this movement of funds.

I think I am a wee bit clearer on what needs to be done.

Rgds Scotty 1972

I remember one time in the early 80s a friend had to carry 80,000 pounds in cash to the bank because his dad (who ran the company) was too cheap to pay a security firm to pick it up... and that was back when 80,000 pounds was actually worth something .

Of course the real money launderers don't need to faff about flying to Canada with 50k in their pocket, they shuffle it through the City by the billion...

However, kind of on this subject, has anyone ever carried gold coins into Canada?