Sunday, April 25, 2010

Can you work in India and send the earnings back in Canada?

All of us keep wondering how to bring money back to Canada.

We have experience of the last 50 years. Getting even a few hundred dollars out of the country was such a difficult task. Fortunately, the things have improved a lot. Rupee is still not a completely free currency, but the rules have become very liberal. Every year you can repatriate as much as $200,000 per family member. You need to state the reason for sending money out of country and need to provide a certificate from a chartered accountant to verify the source of money. (essentially to prevent money laundering). But, overall, it is no longer very difficult to bring your own money back to Canada.

Can a Canadian citizen be employed in India? Hiring any foreign Citizen by an Indian employer is not easy. The foreigner will have to apply for work visa and the process is as difficult as getting a work visa in any other country. But it is very simple for Canadians of Indian Origin. You can apply one time and get a lifetime OCI "Overseas Citizenship of India". As an OCI, you have same previleges as any Indian Citizen to work in India (except for Govt jobs.). Check out the details about OCI rules and the procedures for application at http://www.cgitoronto.ca/OCI/ocigeninfo.html. It takes a few months to get your OCI card in hand, so please start the process as early as possible.

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