Currency Speculation, anyone ever dabbled?
Planning to sell an over-priced Euro property and take advantage of the weak dollar. Will likely hold the money in US CD's until ER, wherein plan to move the proceeds to Canada where the health coverage and extra bang for the buck currency-wise will provide enough $ for ER.
But then a needling thought occurred to me, are there restrictions on transferring large cash deposits into the US for individuals? And what about moving the same deposits to Canada in a few years time?
Might this be frowned upon by the US or Canadian Treasury or other Govt agency? Plus are there capital gains payable on any gains in the currency in either country?, and if so at what stage?
Planning to sell an over-priced Euro property and take advantage of the weak dollar. Will likely hold the money in US CD's until ER, wherein plan to move the proceeds to Canada where the health coverage and extra bang for the buck currency-wise will provide enough $ for ER.
But then a needling thought occurred to me, are there restrictions on transferring large cash deposits into the US for individuals? And what about moving the same deposits to Canada in a few years time?
Might this be frowned upon by the US or Canadian Treasury or other Govt agency? Plus are there capital gains payable on any gains in the currency in either country?, and if so at what stage?