Actually Moving to Canada: My Experience and Things you need to do

[jasneetmatharu]

Hi,
In regards to the Address tip for exchanging US license, do all the license offices in canada accept the mailed bank statement as address proof? We are not able to find an apartment in Canada from US , so we will have to put up at relative’s place temporarily.
Has anyone had an experience where they were denied license coz they hadn’t leased an apartment.

[AdiV]

Usually whatever is the address on your landing document, they will issue you the license on the same. They did not ask me anything else apart from my Passport, my US license and my landing document. I was staying temporarily at a friend’s place at the time of exchange. You can get the address changed later on - just like in the US.

[tasha197]

Thanks for your post, it is very helpful. Can you tell me how did you do the valuation of the car? Is it just the price you bought at or is there an agency that tells you the current value?

[avj]

I looked it up on KBB in USD and converted it to CAD

[avj]

Mine’s a '08 Accord…I think you’re fine. I went to the Canadian Tire at Heartland (Mississauga).

[avj]

They never asked me for any proof of address. I think any proof you can provide should suffice (e.g. address on CoPR, a mailed (or printed) bank statement etc.)

[Neha]

Hi !
What are the approximate registration costs ?
I am moving to Quebec and planning to ship my car there.
Thank you !

[usa2can]

Actually Moving to Canada: My Experience and Things you need to do

Got my Car import process complete today. Here is a list of all items in the process to give idea about timeline and cost involved : Find the right transport agency (Could charge between 1500 - 2500 USD depending on the distance and time /season. This should include the 300 USD export fee paid at US Customs. Once the car reaches the bonded warehouse, your transport agent calls you and you need to go there to collect the car. Need to pay 160 CAD for this process. Actual process is explained in …

[manub2705]

I plan to drive my car to Vancouver from Seattle. The question i had was - can keep couple of boxes and suitcase in the car when i import the car? the items i plan to take with me are on the GTF list.
Please let me know if anybody took their belonging while importing the car?

Thanks

[usa2can]

If you are driving it yourself across the border during the import process, you can carry your personal belongings in it. However, if you are getting it shipped by a relocation agent, you can not send anything in the car (except the title of the car).

[avj]

Not sure. You might want to check on Services Quebec website.

[gadaakhil]

Depends on your bank but for example Chase has no fee for wire transfers greater than U$5k. Also if you prefer to keep your money in USD, Canadaian banks offer USD accounts in Canada and so there won’t be any potential loss (or gain sometimes) due to currency exchange.

Banks give much lower exchange rates (They eat at least cad 0.05) than Everforex or such foreign exchange companies. Everforex is the best one after I compared between multiple forex companies.

[gadaakhil]

There was a very famous new article on a SFO engineer who converted all of his assets (> $400k) in liquid cash to crypto so that he can transfer it to Canada, and lost all of it when the company’s CEO passed away and took all the passwords with him.

Hence very risky and subject to market risks.

@avj We should manage our own crypto accounts and not rely on other companies to manage our accounts and transfer from USD -> BTC -> CAD. Also, never buy AltCoins if you wanna convert from one currency to another via crypto as their risk level is 100 times more than BitCoin.

[panditji]

I’ve heard that KnightBridgeFX offers the best rate. Transferwise is more convenient though with an easier onboarding process.

Exchange rate is only significant if you plan to transfer > 10K dollars. So unless you need to put a deposit on a car or your home it’s best to keep USDs as is either in America or in Canadian Banks or Investment Brokers.

[panditji]

I’m unsure if you’re kidding or are being serious. I’m hoping it’s the former because if it’s the latter then it’s not good advice for anyone else looking to follow suit.

[am1]

Yeah they give low exchange rates. it’s a bit unpredictable and very much depends on day/month you do the conversation, even with the best rates for that day. I just moved my savings into a USD account here in Canada for now.

[hark]

Would there be any estate tax implications if the USDs in US need to be inherited due to unfortunate circumstances? I’ve heard the money could be taxed up to 40%, not sure how this applies differently to US citizens and former non-resident aliens.

[panditji]

I’m not a tax expert and don’t know much about inheritance tax but afaik, US only taxes its Citizens and Resident Aliens.

[vignesh.pr]

@avj @vik - I have some additional items (a new car, baby crib) after I did my landing thus the GTF might need updates. Is there a way to update the GTF or does it matter as long as the total cost is below the GTF declared one?

In summary - How does one go to updated the GTF sheet after they have done the soft landing?

[avj]

I am not sure if there’s a way to update GTF once it’s stamped during landing.
My guess is you can just declare these items while moving; not sure if they will charge custom duties for that or not. If you are a returning resident who has stayed outside Canada for more than 7 days you are allowed to bring purchases upto $800 worth from outside.