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QUESTION:
We're US citizens buying a vacation home in Nova Scotia. We're paying in cash, have US dollars in our account in US. Is there a more favorable method to exchange our currency, other than wire transfer from our account to our lawyer's Canadian escrow acount?
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david ingram replies:
If the deal was in BC, I would have no hesitation in recommending Michael Levy of the Collectibles Gold and Currency Exchange. Michael is a financial commentator on a national radio coast to coast Canadian financial show as well.
Collectibles Gold & Currency Exchange (White Rock & South Surrey)
15241-16th Avenue, White Rock
Phone: (604)535-0222 - Fax: (604)535-9844
[email protected]
I have sent him the question to see if he has any suggestions for you in Nova Scotia. There is certainly no reason why he could not look after it from here as well. It has been my experience that for large transactions, he beats the bank by 1/4 to 1/2 % which is significant if you are in the $100,000 range.
David Ingram's US/Canada Services
US / Canada / Mexico tax and working Visa Specialists
US / Canada Real Estate Specialists
4466 Prospect Road
North Vancouver, BC, CANADA, V7N 3L7
Res (604) 980-3578 Cell (604) 657-8451
(604) 980-0321
New email to [email protected]
www.centa.com www.david-ingram.com
Disclaimer: This question has been answered without detailed information or consultation and is to be regarded only as general comment. Nothing in this message is or should be construed as advice in any particular circumstances. No contract exists between the reader and the author and any and all non-contractual duties are expressly denied. All readers should obtain formal advice from a competent and appropriately qualified legal practitioner or tax specialist in connection with personal or business affairs such as at www.centa.com. If you forward this message, this disclaimer must be included."
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multi jurisdictional cross and trans border expatriate problems for the United States, Canada, Mexico, Great Britain, the United Kingdom, Kuwait, Dubai, Saudi Arabia, Thailand, Indonesia, Japan, China, New Zealand, France, Germany, Spain, Italy, Russia, Georgia, Brazil, Peru, Ecuador, Bolivia, Scotland, Ireland, Hawaii, Florida, Montana, Morocco, Israel, Iraq, Iran, India, Pakistan, Afghanistan, Mali, Bangkok, Greenland, Iceland, Cuba, Bahamas, Bermuda, Barbados, St Vincent, Grenada,, Virgin Islands, US, UK, GB, American and Canadian and Mexican and any of the 43 states with state tax returns, etc.
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Currency Exchange - - White Rock & South Surrey
Collectibles Gold & Currency Exchange (White Rock & South Surrey)
15241-16th Avenue, White Rock
Phone: (604)535-0222 - Fax: (604)535-9844
[email protected]
I have sent him the question to see if he has any suggestions for you in Nova Scotia. There is certainly no reason why he could not look after it from here as well. It has been my experience that for large transactions, he beats the bank by 1/4 to 1/2 % which is significant if you are in the $100,000 range.
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