British Expats - Hi everyone.

British Expats (https://britishexpats.com/forum/)

- Canada (https://britishexpats.com/forum/canada-56/)

- - Hi everyone. (https://britishexpats.com/forum/canada-56/hi-everyone-544560/)

Re: Hi everyone.

Quote:

Originally Posted by sarahandshaun (Post 6492744)

We're Sarah and Shaun and we're looking to emmigrate to Nova Scotia with our two children. This is our first post and can anyone help with a question we have? We have heard through a friend of ours that if you emmigrate to Canada you have to surrender 50% of your savings? We are just starting out on what is likely to be quite an eventful journey and any help/advice will be gratefully recieved.

welcome guys. we just moved on the 4th May. never gave up a penny.:thumbsup:

Re: Hi everyone.

Hi Arrona, that's good news:) and seems to be the common answer now. Hopefully in a few years (probably more) we're able to say we've moved over and can pass on help and advice to others. All the best for the future:thumbsup:

sarahandshaun

Re: Hi everyone.

Hi having just gone through it all too,most people would agree you just need
to come over with enough money to support yourselves for 6 months, for
a family of 4 its about 18k CAD.
I just got my skilled worker visa through yesterday and we are flying out
to NS the last week of August,looking at Fall River or west of Halifax,Hammonds plains.Good luck with everything see you there!

Re: Hi everyone.

Hi Eve N, thanks for the post and good luck for everything in NS.:thumbsup:

sarahandshaun

Re: Hi everyone.

Quote:

Originally Posted by sarahandshaun (Post 6492744)

We have heard through a friend of ours that if you emmigrate to Canada you have to surrender 50% of your savings?

You friend must be thinking of the requirements for immigrating as an investor.

The Immigrant Investor Program seeks to attract experienced business people to invest C$400,000 into Canadaâ€™s economy. Investors must:

* show that they have business experience
* have a minimum net worth of C$800,000 that was obtained legally and
* make a C$400,000 investment.

Your investment is managed by Citizenship and Immigration Canada (CIC) and is guaranteed by the Canadian provinces that use it to create jobs and help their economies grow.

CIC will return your C$400,000 investment, without interest, about five years and two months after payment.

http://www.cic.gc.ca/english/immigra...tors/index.asp

In practice, if you have the $800,000 net worth, you can get a bank loan for the $400,000 "investment" and it actually costs you around $120,000 in interest and fees.

Re: Hi everyone.

Hi Jonboye, he didn't mention anything at the time. Thanks for the info:thumbsup:

sarahandshaun