I am Pakistani and a Canadian. I have some property in pakistan i want to sell and bring the money over.
is there an offcial, formal way to do it? like, do i need to get permission from state bank?
If someone has gone through this before, guidance would be extremely appreciated. thanks.
Re: Bringing large sums of money into Canada
As long as you can show that money is from a legal property sale, nothing else should be needed.
Re: Bringing large sums of money into Canada
If the money is in foreign currency and is being transferred through banking channels, State Bank's approval would be required. Your banker would be in the best position to advise about it.
There are restrictions on remittance of foreign currency from Pakistan, and you need to be aware of them. A lot of people use 'non-banking' channels which you might want to use at your own discretion. ;)