Investor

I know what you mean it's a similar principle to not wanting to put all your eggs (savings) in one basket. You can ease your anxiety by shifting your funds in stages and in doing so you can ride the current rising rates.

Also use more than one company if it makes you feel better, you are not committed to one alone.

welshchem

The intracompany transfer bit was really easy, all wifey needed was a job offer from Toronto and a job description from the UK plant. As both were on letter headed paper that bore the same crest that was all she needed. They checked these both UK and Canada side and after handing over $150 she was ready to join the work force.

I can dig out the emails confirming this, if you want them let me know.

Welshchem

angelic_fruitcake

Cheers! I might take you up on that when things start moving. Does the same principle apply in Alberta?

I know employment prospects seem quite good in Calgary, if (like me) you are prepared to roll your sleeves up and take anything to get on the employment ladder. I really quite fancy working in the Fairmont Palliser doing some kind of concierge work, but who knows?

When we were in Banff last year I remember saying I'd work in Starbucks making Maple Lattes if it meant I could live in Canada...

welshchem

I just remember I've got a copy here at work:

Sir, Madam,

As discussed in our call today, I am pleased to follow-up on your request for information. The Internet links below will provide you with more detailed information.

Internet Links/Addresses
1 - CLICK ON FW1 - GO AT PAGE 31 ARTICLE 5.31 INTRA-COMPANY TRANFEREES R205 (a) : http://www.cic.gc.ca/manuals-guides/.../fw/index.html
2 - Common HRSDC Confirmation-Exemption Categories of Work : http://www.cic.gc.ca/english/work/exempt-2.html

Other Internet Services
Don't forget about CIC's other on-line services :

Download application kits and forms
Inform us of a change of address
Learn the status of your application with our e-Client Application Status service.

If you have further questions about our programs and services, please visit our web site at www.cic.gc.ca or contact our Call Centre at 1 888 242-2100 (8 a.m. - 4 p.m. local time)


Citizenship and Immigration Canada

Investor

2.265

angelic_fruitcake

Applies to senior managers & specialized knowledge workers; work permits required, but
exempt from HRSDC confirmation R205(a), CEC C12 (unless they are citizens of the U.S.,
Mexico or Chile, in which case R204 is the authority, CEC T24).
• Canada has provisions that allow for the transfer of an employee from the foreign to the
Canadian branch of an international company. In order to qualify for the Intra-Company
Transferee category, a business enterprise “is or will be doing business” in both Canada and
the foreign country.

I think I've read this before, but it does apply - his positiion is managerial and I think he could argue specialised knowledge as well. Thanks for that!

nivlad

me too, I saw the rate yesterday and sold at $2.225, oh well. I think if I didn't sell the pounds the rate would have dropped. I think I am going to wait until $2;30 for my next transaction

nivlad

I have used HiFX 5 times (since September) and they have been great. The rate you get though isn't what they quote on their website
www.hifx.co.uk/members/quotes.asp but usually about 2cents below. Other companies might reduce themargin a bit. I find it takes about 5 working days to get your money (thats from getting the rate over the phone and accepting it - I also send the money immediately online to reduce the time) I think most of these foreign exchange places don't charge extra for wiring either. When we first came over and wired money from our LloydsTSB account I think it cost 40 pounds

dbd33

These are the people I use : http://www.jameson.on.ca/fx_faq.htm

I've been happy with them over ten years; good rates, no delays, no fees (except for the rate). I change cheques drawn on Canadian banks for money orders or cash but they can do various currencies, wire transfers and whatnot. I'd think it worth calling them and some more brokers before making a deal to change your life savings.

dexdaw

Its such a small ammount but it makes such a big difference.

2 weeks ago a £ got you $2
just seconds ago a £ got you $2.265

on $300K thats $600000 to $679500

unbelievable.

Life on a knife edge!!!

kt0157

Two weeks ago it was $2.15. It hasn't been $2.00 since April. In the last two weeks, on £300K into dollars you would have got $34500 more. Admittedly this is a nice gain for sitting on one's butt for two weeks. Pity the poor bastards going the other way..

K.

dexdaw

Apologies, I was only approximating. I just wish I had the £300K in the first place!!

kt0157

Awww, here was me thinking you'd just made $35K. Boo.

K.

cneldred

I posted on a simular thread on the rate some months ago saying that CAD was gonna weaken against Sterling. I am a trader/broker on financial futures markets and have been for 12 years.

What you have is the CAD is strongly linked to US$, while sterling is loosely tied to Euro.

When interest rates go up in a country the currency becomes stronger, as investment flows into that country for a better return. Data coming out of the US implies that interest rates are going no higher there, infact odds of a rate cut are increasing, yesterday numbers were showing a contraction in the US economy for the first time in years.

Also, countries such as China are redistributing their fx holding and moving into currencies other than US$. As a result the US$ has been hosed in the last week. The key level is 1.3666 against the Euro, this was the all time high in December 2004, if this level goes you could see some major stops. I currently see no reason why the dollar doesn't slip to 1.40 against Euro. Therefore looks to me like CAD is going to get even weaker, think we may see the bottom in the quiet xmas trading markets.

moving2montreal

the canadian and us dollar will continue to fall. china is not buying more as much american debt, because they want to diversify. this creates a panic spree of people unloading dollars, this is why the price is falling. the pound/euro will remain good buys.