| Provider | Amount To Send | Fee | Exchange Rate | Speed | ||
|---|---|---|---|---|---|---|
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Currencies Direct | CAD $10,000.00 | No Fee | 0.6643 | 1-3 days | more... |
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OFX (prev. CanadianForex) | CAD $10,000.00 | No Fee | 0.6636 | 1-3 days | more... |
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TorFX | CAD $10,000.00 | No Fee | 0.6643 | 1-3 days | more... |
Great exchange rates | Specialist services | No added fees, 24/7 transfers | Safe and secure
OFX provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates.
Excellent exchange rates | No transfer fees | Thousands of 5 star reviews
Currency exchange specialists ranking No.1 on Trustpilot for the past two years
One-off payments | Regular payments | Great rates | Safeguarded customer funds
Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers
Average of the top Canadian Banks costs as compiled by our own FXC Intelligence group. For more details on how the bank price comparisons are calculated for Bank of Montreal, CIBC, Royal Bank of Canada, Scotia Bank Canada, Toronto Dominion Bank, see our IMTI page.
Canada and France share diversified and mutually beneficial economic and trade relations. The two countries have expanded partnerships in a number of areas, including direct investment, political cooperation, and agreements on scientific and technological projects. Currently, there are no restrictions for Canadian citizens or businesses who wish to transfer money from Canada to France.
If visiting France for less than 90 days, Canadian citizens do not need a visa, and may enter the country with only a valid passport. Canadians who plan to stay or work in France on short-term assignments must apply for a short-stay visa through their nearest French consulate. For Canadians seeking permanent resident status, France requires the submission of a long-stay visa application before arrival and a residency permit application once within the country.
France has strict regulations governing the purchase of land or real estate, for both citizens and non-citizens. If you plan to make a high-value purchase such as this, it is recommend to engage a real estate professionals specialised in the French market. Once all steps have been completed, Canadian citizens can arrange an international currency transfer to fund their property purchase.
The estate agent, or agent immobilier, is issued a professional license by the French government and is qualified to carry out property transactions on behalf of both the buyer and the seller. The agent also carries professional insurance, ensuring their clients are protected in the event anything goes wrong with the transaction. The agent can provide information on all estimated fees and property charges.
The notary, also referred to as the notaire or matre, advises the buyer on French property law and is responsible for preparing the property documents, including the sales contract (Compromis de vente). The matre will also confirm the sellers title and ensure that there are no existing mortgages on the property. The matre provides a financial guarantee to their client through indemnity assurance.
Canadian residents living abroad must declare their earnings and file tax forms annually. They must pay Canadian taxes on their worldwide earned income. In France a person is considered a tax resident from the day they arrive, whether their stay is temporary or permanent. Residency of at least 183 days will qualify an individual to pay taxes, starting from the day of arrival. However, the two countries have signed a bilateral tax treaty, which prevents double taxation.
When planning for taxes, keep in mind that there are no restrictions when sending money to France; however, Canadian law requires that the government be notified when transferring funds from a foreign account into a Canadian bank account. It is recommended to consult tax professionals to be sure you fulfill all requirements under each countrys laws.
Canadian citizens living abroad may vote in the Canadian Federal Election as long as they hold Canadian citizenship and are 18 years or older. Voting rights for Canadian citizens living abroad were granted in 1993, but there is a five-year time limit to these voting rights. Once this five-year limit has expired, a Canadian citizen must return and resume residency within Canada before being permitted to vote again in Canadian elections.
In 2003, the two countries created the Canada-France Youth Exchange Program, which allows Canadians under 35 years of age to study in France or complete an internship using a special type of student visa. Once in France, the student must visit their local Prefecture to validate their student visa and obtain a resident permit. If planning to study in France for less than 90 days, Canadian students do not need a short-stay or student visa. There are no restrictions for individuals who wish to transfer money from Canada to France to pay student fees.
France requires all residents to have health insurance. The majority of residents in France qualify for the state health insurance, scurit sociale. Canadian citizens must register with CAPM (Caisse Primaire dAssurance Maladie), to receive coverage in the state health system, and must provide their income details, which is usually done by submitting a French tax return. Because French tax returns are only filed once a year, if a non-citizen has not declared themselves a tax resident, they may show a Canadian tax return, a pay slip, or pension statements as evidence of income. It is recommended that private health insurance be acquired, as well, as the CAPM does not cover all medical costs.
France is Canadas eighth-largest trade partner, with goods exchanged between the two countries amounting to C$8.1 billion in 2012. France is also the eighth-largest source of foreign direct investment (FDI). Imports from France to Canada include mechanical and electrical equipment, aerospace products, pharmaceuticals, and beauty products. Bilateral trade in services between the two countries amounted to nearly C$5 billion in 2011, making France Canadas second-largest European services trade partner, and the third largest in the world.
In 2012, the stock of French FDI in Canada totalled C$14.8 billion, which is equivalent to 2.3% of all FDI in Canada and 7% of all FDI from Europe. Over 500 French companies have their head offices located in Canada, spanning the banking, insurance, services and technology sectors. The two countries have also invested in a variety of technological and scientific partnerships covering areas such as aeronautics development, biotechnology, green technologies, advanced materials, renewable energy, and information and communications technology.
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All the providers listed are regulated by the relevant authority (e.g. the FCA in the UK, FinCEN in the US, ASIC in Australia) and have been vetted by FXcompared.
FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended. FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.
