Moving from Iran to Canada — Your Finance Guide (2026)
8,000+ per year. Here is what every newcomer from Iran needs to know about banking, credit, taxes, and money in Canada.
Top things Iran newcomers wonder about
- →How to transfer money from Iran to Canada (legally)
- →Building credit from zero without foreign credit history
- →Farsi-speaking tax accountants in Toronto
- →Iranian community resources in Toronto
Does your Iran credit score transfer to Canada?
Iranian credit scores do not transfer to Canada. International sanctions also limit financial history documentation. KOHO and Capital One Secured cards are the most accessible first credit products for Iranian newcomers.
Learn more: Complete Canadian Credit Guide for Newcomers →
Banking in Canada for newcomers from Iran
Due to international sanctions, no Iranian banks operate in Canada. It can be challenging to bring documentation of Iranian banking history. Canadian banks will work with your passport and immigration documents.
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 Iran
Due to international sanctions, direct remittances to Iran are heavily restricted. Most money transfer occurs through informal channels (hawala) — note this may have Canadian legal and tax implications. Consult a financial advisor.
Iran community in Canada
Toronto (North York — Yonge/Sheppard area; often called 'Tehranto'), Vancouver (North Shore), and Calgary have large Iranian-Canadian communities with Farsi-speaking services.
Most cities offer IRCC-funded settlement services in multiple languages. Search for Persian (Farsi)-speaking settlement agencies in your city at IRCC's settlement service finder.
Tax treaty: Iran and Canada
Canada and Iran do not have a tax treaty. Your worldwide income as a Canadian resident is taxable in Canada, regardless of where it was earned.
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 Iran newcomers settle in Canada
Most newcomers from Iran initially settle in Toronto and Ontario. Established communities mean more Persian (Farsi)-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