Hey all, newbie here at a bit of a crossroads in life and considering options.

I've just turned 29 and feel like I'm at the point where life starts to get a bit more serious and the decisions I make now will have longer-term impacts i.e. I don't own a home here, have no kids, have a relatively fluid job. Due to unfortunate circumstances I recently came into a fairly large amount of money, which I want to make best use of. I'm lucky enough to be Canadian (born in Toronto) but haven't lived there since I came to the UK with my parents in the late 80's. I have always wanted to return and give life in Canada a real go but until recently I never had the financial safety net. Firstly, is there anything I should be aware of when it comes to bringing a large (£100k+) sum of money into the country. I suppose tax implications would be the most important concern here.

I'm hoping work won't be too hard to find but you never know (I'm an accountant) and I'd most likely want to be based around the Toronto area (area I know best in Canada, where my Dad is, relatively close to the UK for family). I'd ideally like to have gained employment before I leave the UK; are there any recruitment consultants (either UK or Toronto based) that specialise in this sort of thing?

I must admit I know very little about Canada but have become increasingly disheartened with the way the UK is heading; I wouldn't say it's a 'grass is greener' situation, more assessing alternative options. My Dad, who has a business in Toronto but lives in the UK (he visits every couple of months), hasn't really involved himself with Canadian life as he sees it as his workplace. He will be a useful resource for the practicalities of living and working in Toronto but may not be so useful when it comes to the better areas to live/schools etc.

If I decide to make the move I'd hope there would be benefits. I realise that cost of living etc is broadly comparable to the UK but, as I understand it, the main area where substantial savings can be made (cost vs size) is housing. Are there nice (safe/clean/well connected) suburbs of Toronto or is it best to consider some of the towns outside of Toronto (I'd be looking to live outside of the city itself). Bear in mind I'd have a daily commute to Toronto for work. Also, how does the financing-side of the housing system work in Canada? Similar to the UK? i.e. the larger the deposit the better the mortgage interest rate? I assume I would have to rent for a fair bit of time to build a credit rating to be able to apply for a mortgage in the fist place!!

Anyhow I'm sure there are more questions bubbling around but that's all I can think of for now.

Thanks for all your help.

Sorry, one thing I forgot to add - I am Canadian but my long-term girlfriend is a UK national. Does this create a problem for us as obviously I'd want her to move with me. What would be the immigration procedures for her?

On this, study the wiki and/or www.cic.gc.ca, particularly those bits relating to sponsoring common law partners. Sounds like thats the route to go with respect to you (the Canadian citizen) sponsoring your girlfriend.

Nope, no problem. If it is yours, it says yours.

I'm nowhere near Toronto so can't give much advice on the market there, but assuming you are qualified you might want to look into Canadianizing your designation. Easy of you are ACCA, more difficult (though not impossible) for CA or CMA.


It s a tough ask. Try Robert Half, but the vast majority of employers want to see you before hiring. Read the job hunting section of the wiki for more information on how to get hired before the employer outsources recruitment.

You have this right

Thanks for this. Went onto the cic website; very informative. Me sponsoring her seems like a fairly straightforward process, in theory anyhow.

Hi

Ive just made the decision to move to Canada (i was born in Alberta) it's scary but i cant wait to get to my new life.

I spoke to Canada house in London yesterday and they were VERY helpful in the information they gave me on what my first steps are and stuff, so maybe worth giving them a ring too.

Good Luck!

There are some great suburbs of Toronto - but they are not cheap. Along the lakeshore, east or west, provides progressively cheaper housing with more space as you increase the distance from the city. There is a pretty good commuter train service.

The ease of getting a mortgage is also dependent on the size of the downpayment, we had a downpayment of over 60% of the value of our property and got a mortgage fairly soon after arrival with no problem. There is still a strong case for renting to start with though as it gives you a chance to check out your chosen neighbourhood with little financial risk.

Further clarification of this point, I was chatting to some mortgage brokers this lunchtime and basically, provided you have a job and can get some credit report from your own country - eg from Equifax then you could get a mortgage upon arrival with 5% down. Comments about renting to check out how you feel about an area still apply though.

Definitely still at the planning/information gathering stage!! All seems very new and daunting. I think I'll need to get myself over there a fair few times first to see what it's like before I can decide permanenetly!

Living on the Lakes sounds pretty idillic! When you say these areas are not cheap what sort of price range are we talking about?

That's good to know thanks. I think renting provides much more flexibility, which will be important initially. I realise asking how much to budget for rent is like asking how long a piece of string is but I pay roughly £800 a month rent currently for a two bed house. What would the equivalent rental achieve in the Toronto suburbs? And out of interest, could I lease a city centre apartment with this?

Happy to be directed to other topics as I'm sure this is regularly discussed.

Short answer, no. Or not one you'd like to live in.

$1250 should get you an acceptable rental in some parts of Toronto itself (likely an apartment) but if you want a house with a yard for that you'd be either miles away or paying more.