Moving from India to Canada — Your Finance Guide (2026)
100,000+ per year (largest source country). Here is what every newcomer from India needs to know about banking, credit, taxes, and money in Canada.
Top things India newcomers wonder about
- →How to get KOHO/credit card without Canadian history
- →How to open bank account before landing
- →Where Punjabi/Hindi speakers live in Canada
- →How to send money back to family in India
Does your India credit score transfer to Canada?
Your CIBIL or CRIF score does not transfer to Canada. Canadian credit bureaus (Equifax and TransUnion) have no connection to Indian bureaus. You start with no Canadian credit history — not bad credit, just a blank file. The exception: American Express offers a global card transfer program for existing Indian Amex cardholders.
Learn more: Complete Canadian Credit Guide for Newcomers →
Banking in Canada for newcomers from India
ICICI Bank Canada and Kotak Mahindra have Canadian presence. You can also open a Scotiabank StartRight account before you land — it's designed for newcomers and accepts applications from outside Canada.
Once in Canada, use a Big Six newcomer banking program for your main chequing account:
- • Scotiabank StartRight — can apply from outside Canada before you land
- • BMO NewStart — strong newcomer onboarding in most cities
- • TD New to Canada — dedicated newcomer advisors
- • CIBC Smart Start — up to $400 bonus for newcomers with direct deposit
Sending money from Canada to India
Wise and Remitly are the cheapest options for India–Canada corridors (typically $3–5 CAD to send $1,000). Avoid bank wire transfers — TD, RBC, and Scotiabank charge $30–50 per transfer plus a 2–3% exchange rate spread.
India community in Canada
Brampton (Ontario), Surrey (BC), Calgary NE, and Edmonton have dense Punjabi/South Asian communities with community banks, grocery stores, temples, and Punjabi-speaking settlement agencies.
Most cities offer IRCC-funded settlement services in multiple languages. Search for Hindi, Punjabi, Tamil, Gujarati-speaking settlement agencies in your city at IRCC's settlement service finder.
Tax treaty: India and Canada
Canada and India have a tax treaty (in force since 1996). This prevents double taxation on most income types. Consult a CRA-registered tax preparer or the CRA NR4 guide for non-resident withholding rules.
All Canadian residents must file an annual tax return with CRA by April 30. Even if you arrived mid-year, filing your first return may make you eligible for the GST/HST Credit and Canada Child Benefit. Read our complete tax guide for newcomers →
Where India newcomers settle in Canada
Most newcomers from India initially settle in Brampton and Ontario. Established communities mean more Hindi, Punjabi, Tamil, Gujarati-speaking services, familiar foods, cultural organizations, and job networks.
See city-specific guides: Newcomer city guides →
Your first 90 days financial checklist
- 1Get your SIN at Service Canada (free, same day)
- 2Open a newcomer chequing account at a Big Six bank
- 3Get a KOHO credit builder card to start your Canadian credit file
- 4Register for provincial health coverage
- 5Set up CRA My Account online
- 6Apply for GST/HST Credit (CRA form RC151 if no T4 yet)
- 7Open a TFSA at Wealthsimple — start saving, even $25/month
- 8File your first tax return by April 30