A closer look at international coverage in Canadian banks
Take a look at the global coverage of some of the biggest Canadian banks, and how Wise can help with its international coverage
Before importing a car from India and Canada, comes the research! We’ve written this blog to explore the entire process; from collecting the necessary documents, the cost breakdown, and the import process. We will also highlight Wise as an option for significant cost-saving and cross-currency payments. Let’s unpack it together!
We will look into |
---|
Yes, it’s possible, but there are strict importation rules for vehicles from India entering Canada. Vehicles built and certified to meet foreign standards cannot be imported into Canada, as the Motor Vehicle Safety Act does not permit modifications to meet Canadian standards.1
You may import a vehicle from India if it meets the following conditions:
There are several fees associated with importing a car from India to Canada, including:
Stage | Costs |
---|---|
Before Arrival | Since the vehicle was manufactured outside the US or Mexico, there’s a 6.1% import duty based on the vehicle's value per the bill of sale. Fees for a carrier/broker to handle shipment and processes (if applicable) |
On Arrival | GST, PST, or HST, which varies by province or territory.2 $100 Air Conditioning tax, if applicable.2 Vehicles weighing more than 2,007 kg (4,424.68 lb pounds) are subject to an additional tax.2 Excise tax for fuel-inefficient vehicles, ranging from 1,000-4,000 depending.2 Cost of any required inspections and modifications. |
Post Arrival | Register of Imported Vehicles (RIV) fee, which costs $325, plus tax.2 |
If you have transactions to be made in Indian Rupees, you would need a multi-currency account to avoid hefty currency conversion fees.
To maximize your money during the vehicle importation process, opt for Wise! Wise offers you a competitive, mid-market exchange rate, eliminating hidden markups and giving transparent access to competitive pricing. This means you can transfer Indian rupees to Canadian dollars — or vice versa at the fairest rates.
When you join Wise, you don't have to lock into any frustrating monthly subscriptions or feesto maintain your account. What's more, transfer fees start at just 0.33%, helping you keep more of your hard-earned money in your pocket. You only pay for what you use.
Register now for your Wise account for cost-effective and transparent cross-currency payments!
Please see the [Terms and Conditions](https://wise.com/ca/terms-and-conditions) for your region and visit our [pricing page](https://wise.com/ca/pricing/send-money) for the most up-to-date pricing and fee information on Wise products.Here's how to make payments with Wise:
Wise makes the process simple and secure.
Importing a car from India to Canada has several steps. Here's a general breakdown of the process.
The following documents are required for your car to cross the border into Canada:
Check if the car meets Canadian safety and emissions standards. Vehicles must conform to the regulations of the Canada Border Services Agency (CBSA) and the Registrar of Imported Vehicles (RIV).
Then you would need to choose a reputable international auto transport company to take care of the shipping safely and securely.
Brokers or carriers will sort out the logistical side, support with shipping , and take care of the bureaucratic side of the process. Review the contract with a fine tooth comb, to ensure the terms are fair and just.
Once your shipment has been booked, have the vehicle looked at by a mechanic and fix any issues. Empty your vehicle of all personal items and take pictures in case of any dispute.
Shipping a vehicle from India to Canada takes anywhere between 4–8 weeks, depending on the method of shipping, weather conditions, and more. Once it arrives in Canada, you’ll need to pay all the required import duties and taxes, which are calculated using the vehicle’s value, engine size, and age.
Then, the car must go through an RIV inspection, where it's checked over to ensure it meets all Canadian standards.
Once your car passes inspection, it’s time to register it with your local provincial or territorial motor vehicle department.Then you can obtain insurance coverage to drive the car.
Be aware that every province in Canada has specific requirements, so be sure to check your local regulations.
If your car meets the requirements for being imported, it should be easy to move it safely from India to Canada. While your shipping carrier takes care of the shipment journey, allow Wise to take care of the financial side, converting your hard-earned cash quickly with minimal fees. Start your first transfer today!
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
Take a look at the global coverage of some of the biggest Canadian banks, and how Wise can help with its international coverage
we’ll take a look at what money transfer apps such as Wise work in Canada, how they work, and what fees they charge.
We’ll explore what to consider when transferring money and introduce Wise, a cost-effective alternative to banks, with transparent pricing and exchange rates
Learn how visitor visa holders open a bank account in Canada. Discover requirements, options, and how a Wise account simplifies this for travelers in Canada
Read about the best ways to buy euros in Canada, exchange rate charges, order limits and delivery times. This includes converting your money with Wise
Read on to understand the limits with Wise for sending money, receiving money and using the Wise card for your personal as well as business requirements