Proof of funds upon landing

The Landing Experience
1

Hello everyone

I’ve recently been granted permanent residency and will be landing soon. I have a question regarding the proof of funds requirement.

According to the regulations in my home country, I am not allowed to travel with more than a certain amount of cash. Therefore, I believe I will need to show proof of funds from my bank account to the immigration officer upon arrival.

My question is:
Does the proof of funds need to be in Canadian dollars (CAD), or can it be in my local currency?
If local currency is acceptable, does this apply to all countries or only specific ones?

Thank you in advance for your help and guidance!

2

Hi there,

Thank you for sharing your question and situation with us. We appreciate your interest in this information.

You might find helpful information in the Settlement.Org article, How do I bring money into Canada (proof of funds)?
Here is an excerpt:

The Canadian Border Services Agency (CBSA) has the right to seize any money over C$10,000 that is not declared, you may need to pay a fine or face other penalties if you fail to declare money above the threshold.

You can bring money into Canada in the form of:

  • Cash
  • Securities in bearer form (for example, stocks, bonds, debentures, treasury bills)
  • Negotiable instruments in bearer form (for example, bank drafts, cheques, travellers’ cheques, money orders)
  • Transfer of funds between your bank and a Canadian bank

Speak with your financial institution before you come to Canada about currency laws and regulations in Canada and in the country you are leaving. There may be restrictions on the amount of money you can take out of the country.

If you are coming from a country that has currency restrictions, you may have up to 3 years to import goods purchased with this money in your former country. However, you must show CBSA proof that you faced restrictions.

You can bring money in a local currency, but it will be valued in CDN dollars by CBSA using the conversion rate at the border. CBSA has a guide on declarations and if you are declaring more than $10,000 CAD, you may want to read the CBSA article on Travelling with CAN$10,000 or more? Sending it by mail or courier? Declare it.

It may also be helpful to connect with Border Information Services for advice specific to your situation. Please feel free to follow up with us if you have any further questions. We hope this information is helpful!

Sincerely,

Your Settlement.Org Team