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Looking for guidance as Canadians coming to Bonaire

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  • #16
    Originally posted by DiverChris View Post
    What about using RBC for your banking in Canada and the Carribean. Yes they are different entities but you maybe able to get everything done in Canada before arriving in Bonaire.
    Good luck,
    Chris
    My wife and I looked at using RBC since they are in both Canada and on Bonaire. We learned that they might both be RBC but they operate as two entirly different companies. The same goes for RBC in the US, all three operate as seperate companies and do not have direct ties to each other. Our local RBC here in Canada didn't realise that the US and Carribean are two seperate companies until we told them. We had set up a US account, went to Bonaire and found out that we could not access our US accounts.

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    • #17
      You need guidance from the Dutch Embassy

      Originally posted by bonairehomes View Post
      I dont know the answer to that. I would ask Agnes, or whoever is helping with your application, what you need to do to get it legalized. I would think its the same process as you did with marriage certificates, birth certificate, etc. I would ask someone who knows to be sure.

      I tried to submit my residency application without my "security voucher" documentation being cleared by the Dutch Embassy... It was rejected. You do need to do this and really no one seems to know about it except Immigration Officers on Bonaire.

      If I were you,I would ask them to send a photocopy of such document with the proper stamp or whatever it is the Bonaire Immigration wants and then contact the Dutch Embassy in Canada. Let me know how you make out next year I am applying again! L.S.

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      • #18
        Hi,
        As a fellow Canadian, would it be too personal to ask, how you go about transferring money from a Canadian bank, to RBC on Bonaire (once you establish an account there)?
        Silly question, but do you just carry $9,999 with you, to deposit every time you go down there?
        We`re thinking of buying a small condo,or land, there and it`s pretty obvious, I have no experience with doing this.
        The process will speed up if, God forbid, Trudeau gets re-elected!
        You are more than welcome to DM me.
        Thanks!

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        • #19
          Hi , Once you have opened a bank account on the island and gather the inofrmation you need (You will have to get information such as address, SWIFT #, Account # and anything else they share from the Bonaire bank. ) In Canada, you will ask for a bank transfer to Bonaire, It cost about 30 US $ and takes about 7 days. Depending on where your bank is, it is likely they will not be familiar with Bonaire and it takes them while to look it up , usually list as ST Eustice, Saba and Bonaire .

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          • #20
            Hi,

            When we do wire transfers from our Canadian Banks (we mainly use TD, but sometimes we use BMO) the costs are dependant on the amount being sent to Bonaire. Best to check with your Bank in Canada what their fees would be for any given amount. The time for the money to show up in our MCB account is about 2-3 days. One down side is we have to physically go into a branch in Canada to do the transfers, we can not do them on-line or by phone. I guess that is just about security. As noted below the RBC in Bonaire is in name only, no official banking ties to RBC in Canada.

            Good Luck with your plans. We have owned a home on Bonaire for about 1.5 years now, and are very happy. We have not done the residency thing yet as we still have to look into any Canada/Bonaire Tax issues.

            Cheers
            S&E Tanton

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            • #21
              My personal experience is just bring a check with you to deposit into your account while on the island. You avoid the wire transfer fees and the money is in the account in just a few days and the fee is just a few dollars.

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              • #22
                Some US Banks allow depositors a certain number of free wire transfers monthly. I can wire money from Chase 4x a month for free. My Bonaire bank Orco charges us US$5.25 for incoming wire transfers.

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                • #23
                  Temporary Residence & Taxes on Bonaire

                  Originally posted by Canuck52 View Post
                  Hi,

                  When we do wire transfers from our Canadian Banks (we mainly use TD, but sometimes we use BMO) the costs are dependant on the amount being sent to Bonaire. Best to check with your Bank in Canada what their fees would be for any given amount. The time for the money to show up in our MCB account is about 2-3 days. One down side is we have to physically go into a branch in Canada to do the transfers, we can not do them on-line or by phone. I guess that is just about security. As noted below the RBC in Bonaire is in name only, no official banking ties to RBC in Canada.

                  Good Luck with your plans. We have owned a home on Bonaire for about 1.5 years now, and are very happy. We have not done the residency thing yet as we still have to look into any Canada/Bonaire Tax issues.

                  Cheers

                  HI There!! I have been reading through this thread and noticed you mentioned "We have not done the residency thing yet as we still have to look into Canada/Bonaire Tax Issues"

                  We are planning to come to Bonaire in Jan 2022 - we wanted to apply for 1 year Temp Residency but are trying to find out if that would require us to pay taxes on Bonaire on our income earned in Canada -

                  Our retirement will be funded by Canadian Dividend Income and the taxes payable in Canada will be minimal based on our situation - so we do not want to have to pay Bonaire Taxes on this Canadian Income - but not sure if "Temp Residency" requires that or not...

                  Any info you have found would be super helpful if you have any further insights!! Thanks!
                  Deb

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                  • #24
                    Dear Deb:

                    Also check with the Civic body if you are accepted that is not the end of it. Many documents need to be "legalized or apostile" or have the proper authorization stamp on them. AND they cannot be holder than x amount of months.

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