CastAway
03-15-2007, 10:11 PM
Hey guys. On my PR application it says that settlement funds taken to Canada should be "unencumbered". What does that mean exactly ?
Let me run some scenarios past you guys :
1)Suppose I owned some investment properties. Would I have to sell them before moving to Canada ? Considering they are nowhere close to being "free and clear" and I am making a steady income off of them. What would be the CICs take on this ? Revenue Canada ?
2)Suppose I get my PR visa. The CIC would give me a 12 month travel window, right ? Well suppose that within those 12 months I were to take a
$ 500 000 loan from my bank. Keep the money in my home country, and have it wired to me 10 K a month once I´m settled in Canada ?
Would this be OK with the CIC ? Revenue Canada ?
Thanks guys
Let me run some scenarios past you guys :
1)Suppose I owned some investment properties. Would I have to sell them before moving to Canada ? Considering they are nowhere close to being "free and clear" and I am making a steady income off of them. What would be the CICs take on this ? Revenue Canada ?
2)Suppose I get my PR visa. The CIC would give me a 12 month travel window, right ? Well suppose that within those 12 months I were to take a
$ 500 000 loan from my bank. Keep the money in my home country, and have it wired to me 10 K a month once I´m settled in Canada ?
Would this be OK with the CIC ? Revenue Canada ?
Thanks guys