chigrad:
Hi all please what is your advise as per the link below for proof of funds

https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/documents/proof-funds.html

For someone who came to Canada with 3 years work permit and now eligible to apply for PR after 1 year of work .
If applying under CEC or FSW, must the person show proof of funds or not ?

You need POF for FSW but not CEC

affoncad:
hello everybody, please i landed in Canada last month in Toronto as a new PR holder but i need advice on how best to save or invest and not just keep money in bank account and losing it to inflation ....i need advice on how best utilize or invest 30k usadollars that is not urgently needed .i will appreciate any suggestion or contribution ..thank you

Investing is Canada is dependent on a number of factors cos returns on investments are mostly not "guaranteed"
So you may want to take into consideration factors such as your risk appetite, purpose of investing, how long you want to stay invested for e.t.c This would help make an informed decision on where to put the funds
So it will be better to sit with an Advisor to explore your options.
I am a licensed Financial Advisor so feel free to send me a DM and we can talk more

affoncad:
hello everybody, please i landed in Canada last month in Toronto as a new PR holder but i need advice on how best to save or invest and not just keep money in bank account and losing it to inflation ....i need advice on how best utilize or invest 30k usadollars that is not urgently needed .i will appreciate any suggestion or contribution ..thank you

Real estate

ednut1:
Zimbabwean dollars ba

Na 50k be money for your eye.
Just one of my few accounts. I sure say your papa no get half of that

finishedworks:


Investing is Canada is dependent on a number of factors cos returns on investments are mostly not "guaranteed"
So you may want to take into consideration factors such as your risk appetite, purpose of investing, how long you want to stay invested for e.t.c This would help make an informed decision on where to put the funds
So it will be better to sit with an Advisor to explore your options.
I am a licensed Financial Advisor so feel free to send me a DM and we can talk more

Can you explain what you mean by not "guaranteed"? As in total loss?
You don't have to talk about stocks or crypto. I know those already.

ednut1:
use it as down payment in alberta or new brumswick, rent out the basement or use for airbnb, or rent out the whole house if you no like those provinces. Investing in this country is limited to maybe some stocks and crypto. Shitty rates everywhere

And also put into account Taxes, just TFSA's and investments through insurance can be tax exempt. All other investments may be subject to Taxes at one point.

Thank you for replying.
But is it with PR card you used to travel? Or COPR? Because I heard if you have a pr you don’t need it , while u need for COPR and Canada visa.

House34:


I use BA, And no transit needed

CountVersailles:

Can you explain what you mean by not "guaranteed"? As in total loss?

Most investment that will amount to anything isn't guaranteed for example look at what is happening in the market now or what happened during covid. But historically the market will correct itself. But if you want guaranteed investments like what the banks offer, just know you will make next to nothing because the on going rate for most banks are between 0.9 to 2% depending on the bank. So your risk tolerance will determine where you put your money. So except you want to put your money in things like GIC's every investment comes a level of risk.

Oga,so far u get anything canada visa or pr ...with ur copr u still get visa on ur passport so u do not need transit visa call BA to confirm

Erechi:
Thank you for replying.
But is it with PR card you used to travel? Or COPR? Because I heard if you have a pr you don’t need it , while u need for COPR and Canada visa.

CountVersailles:
Na 50k be money for your eye.
Just one of my few accounts. I sure say your papa no get half of that

keep deceiving yourself, we know ya type

CountVersailles:

Can you explain what you mean by not "guaranteed"? As in total loss?
You don't have to talk about stocks or crypto. I know those already.

In Canada apart from real estate, main stream investments are kind of limited to stuff like bonds, stocks, ETFs ,segregated funds, mutual funds etc your risk tolerance should determine where that money goes. What I mean by not guaranteed is no one can tell you for certain how well an investment will do but for investment like segregated funds, the company can give a minimum guarantee on maturity so not total loss

finishedworks:

In Canada apart from real estate, main stream investments are kind of limited to stuff like bonds, stocks, ETFs ,segregated funds, mutual funds etc your risk tolerance should determine where that money goes. What I mean by not guaranteed is no one can tell you for certain how well an investment will do but for investment like segregated funds, the company can give a minimum guarantee on maturity so not total loss

I'm just learning about segregated funds. I'll look into this.

CountVersailles:

I'm just learning about segregated funds. I'll look into this.

Nice, information is key in this life. For anyone willing to look at different options, please feel free to reach out.

captainmichaelo:


Use it as down payment for a precon that's closing in say 2/3 years ( make sure u have the clause of assignment). That way, you start building equity while simultaneously building your credit and a good job to close. In other words, uld b more settled by the time of closing.
Cheers.

Please can you elaborate on this precon investment.

affoncad:
hello everybody, please i landed in Canada last month in Toronto as a new PR holder but i need advice on how best to save or invest and not just keep money in bank account and losing it to inflation ....i need advice on how best utilize or invest 30k usadollars that is not urgently needed .i will appreciate any suggestion or contribution ..thank you

Your best bet is investing in real estate. Look for a precon and you can sell before closing but the challenging aspect is getting an appointment for precons in Ontario (Precons are preconstruction houses or something we call offplan houses in Naija)

Hello Guys,

For people based in Canada, what is the easiest way to send money from your Nigerian bank account to your Canadian bank account and from your Canadian bank account to your Nigerian bank account with ease and reasonable transaction charge??

I use Scotia Bank.

Alchemist01:
Hello Guys,

For people based in Canada, what is the easiest way to send money from your Nigerian bank account to your Canadian bank account and from your Canadian bank account to your Nigerian bank account with ease and reasonable transaction charge??

I use Scotia Bank.

Most people make use of peer2peer transactions. Join various Nigerian WhatsApp groups and trade your currency Or use apps like Lemonade.

Pls for those who have used Ethiopian Air when traveling to Canada,pls what's the experience traveling with Ethiopian air

keleto:
Pls for those who have used Ethiopian Air when traveling to Canada,pls what's the experience traveling with Ethiopian air

Someone I know did. No issues whatsoever and it is her first time of travelling.

keleto:
Pls for those who have used Ethiopian Air when traveling to Canada,pls what's the experience traveling with Ethiopian air

koko is to reach Canada. Leave all this experience things alone

ednut1:
:Dkoko is to reach Canada. Leave all this experience things alone

I second the motion.

Alchemist01:
Hello Guys,

For people based in Canada, what is the easiest way to send money from your Nigerian bank account to your Canadian bank account and from your Canadian bank account to your Nigerian bank account with ease and reasonable transaction charge??

I use Scotia Bank.

Download pesapeer. Great rates

Please further break this down for another newbie.. Kindly start from first principle.. Tnx

captainmichaelo:


Use it as down payment for a precon that's closing in say 2/3 years ( make sure u have the clause of assignment). That way, you start building equity while simultaneously building your credit and a good job to close. In other words, uld b more settled by the time of closing.
Cheers.

Pee2Jay9:
Please further break this down for another newbie.. Kindly start from first principle.. Tnx

DISCLAIMER: I'm not a guru but the little I know can help alooooooot!
I only know about the Ontario market


sorry guys, I kinda got busy with work and couldn't follow up the thread. Anyhoo, in simple terms, a pre-construction home is a house you buy before the building is complete. It can be either a condo, semi-detached house, detached house, or townhouse. A house model will give you an insight into what the home will look like upon completion (google.com).
so, the house hasn't been built yet most times, u just see the floor plan and probably a model home and u get to adjust or design it to your own taste.
steps:
*we get a builder, depending on your location builders are all over the place (say Tarion homes/ Vista/mattamy/matrix homes etc)
*they show you floor plans, previous developments, inform u about when its gonna close, say 2023/2026. it depends. etc
*they tell you the amount for the downpayment (used to be a little fraction of the estimated house cost, say 70k upfront for a house projected to be 500k).
*builder gives you the documents, you sign and they also sign, and u keep your docs and wait till closing at the time given. At this point, the house is still not fully yours.

NOTE THAT: 95% of times, in all of these, the banks are not yet involved, no credit checks, u just give them the money, they give you the documents and both parties sign away. as a new immigrant, you obviously do not have credit yet, and still looking for a stable job, but at least you are sure that you will be more settled than you are in the next year to come. that way, u have your credit profile, good job, paystubs, finished probation, etc, all of which are needed to approve the mortgage at the time of[b] closing...[/b]

The “closing” is the last step in buying and financing a home. The "closing,” also called “settlement,” is when you and all the other parties in a mortgage loan transaction sign the necessary documents. that, in this case, will be the builder, the buyer, and the bank who will give and approve the funding.

Anyhoo, while all of this is going on, equity is building too...e.g. the amount you paid for a precon in 2022 is 500k, at the time of closing in 2024 property will have gained probably 100k or more (guaranteed) as long as its in Ontario and the market remains as is. plus the plenty advantages of living in a new house designed to your taste. might not be everything u want but u know, the main way of saving in Canada is real estate really. plus, the market is ridiculous atm, anyway, i hope i tried explaining. if u look at the pictures i attached, how can anyone save those amounts?

Please indicate while buying the ticket that she needs a wheelchair. With that, she will have someone to assist her with all check-in and transfer processes. And you don't have to explain why she needs a wheelchair.

adelolo:
please i want to invite my mum to canada and she will be travelling for the first time on temporary visa and not conversant with travelling abroad at all. her final location is manitoba, how possible is it to get her assistance with boarding from lagos , departing from the aircraft at toronto and going around at the airport to get the next flight from toronto to manitoba. Please assist with suggestions. Do any airline offers that service if so, please what airline?

Please for people with families that have landed…say family of 4 with up to 7 luggage’s for example, do you order like 2 or 3 ubers to take you to the Airbnb or are there big vans used as Uber that we can order on arrival? We are arriving next week..:thanks

onyexx:
Please for people with families that have landed…say family of 4 with up to 7 luggage’s for example, do you order like 2 or 3 ubers to take you to the Airbnb or are there big vans used as Uber that we can order on arrival? We are arriving next week..:thanks

If you don't have family and friends here to pick you up then you can order 2 SUVs via Uber, that should be sufficient.

Which city are you landing?

The rate is high sha

1 CAD = 450 NGN

cntabs:

Download pesapeer. Great rates

onyexx:
Please for people with families that have landed…say family of 4 with up to 7 luggage’s for example, do you order like 2 or 3 ubers to take you to the Airbnb or are there big vans used as Uber that we can order on arrival? We are arriving next week..:thanks

One Uber XL should be enough.