Moving from the Philippines to Canada 2026 | Financial Guide

For many Filipino newcomers, money in Canada has two jobs from the start: setting up a new life here and supporting family in the Philippines. That makes two things matter more than for most newcomers: what it costs to send money home, and what to do with Philippine benefits such as SSS, PhilHealth and Pag-IBIG. This guide covers both, plus what to arrange before you leave and how Canada taxes Philippine income. The first-year steps every newcomer takes (a SIN, a bank account, a health card, a first return) are in money in Canada for newcomers.

Before you leave the Philippines

• Settlement funds. Several immigration programs ask you to show a minimum amount of money, which IRCC sets by family size; the current amounts, who is exempt and what counts as proof are on the proof of funds page. Beyond that minimum, the first months bring a rental deposit, winter clothing and other set-up costs before the first paycheque.
• Cash at the border. The Philippines limits how much Philippine currency you can take out without authorization from the Bangko Sentral ng Pilipinas and asks travellers to declare large amounts of foreign currency. On arrival, Canada requires you to declare currency and monetary instruments worth CAN$10,000 or more in total.
• Records. Bank statements, employment and tax records, and papers for any property you keep in the Philippines. Canadian banks can ask where a large deposit came from.
• Your Philippine bank account. Keeping one account open makes it easier to receive rent, pay family expenses or hold money you send home.

Your first months in Canada

Caregivers and temporary foreign workers start with money on a work permit; permanent residents follow the PR checklist, beginning with a SIN.

Your Philippine credit record doesn’t transfer, so your Canadian file starts with a first card: see newcomer credit cards and newcomer bank offers.

Sending money home

Remittances to the Philippines can go bank to bank, to a GCash or other e-wallet, or as cash pickup for family without a bank account. On a regular transfer, the cost that adds up is mostly the exchange-rate margin rather than the visible fee: a bank wire usually converts at a wider margin than a transfer service, so comparing the amount in pesos that arrives is the clearest test. The services are compared in the best money transfer apps for sending money abroad.

Money you send to family isn’t a deduction on your Canadian return. Large transfers into Canada (savings, a property sale) are a different job, covered in how to transfer money to Canada.

Remittances compete with building an emergency reserve in Canada: with a few months of expenses in savings, a job gap or a large bill doesn’t interrupt the money sent home.

Philippine benefits: keep or close

Canada and the Philippines have a social security agreement, in force since March 1, 1997. If you haven’t contributed to SSS or GSIS for the minimum period, the Philippines can count your Canada Pension Plan contributions and your years living in Canada after age 18 toward that minimum, and the agreement works the other way for Canadian benefits. How these agreements help with Old Age Security is in OAS and GIS for newcomers.

Canadian tax on Philippine income

Settling in Canada makes you a Canadian tax resident, and rent from a house in the Philippines, interest on peso deposits, dividends and gains all go on your Canadian return from then on (foreign income on a Canadian return). Philippine tax on the same income is offset through the foreign tax credit. An SSS or GSIS pension paid to you here is reported as foreign pension income, which the foreign pension guide covers.

Peso deposits, Philippine stocks, UITFs and a rented-out property also count toward Form T1135, filed in any year their combined cost goes above $100,000. A family home you use yourself is left out.

Canadian benefits

Filing a return every year is what keeps benefit payments coming, even with little income. New residents can apply before their first return: Form RC151 for the Canada Groceries and Essentials Benefit, and Form RC66 for families who apply for the Canada Child Benefit. Provincial health coverage costs nothing once it starts, but some provinces make new residents wait; provincial health coverage and waiting periods covers each province. Your first return reports income from the day you became a resident (a newcomer’s first tax return).

Where Filipino newcomers settle

Toronto, Winnipeg, Vancouver, Calgary and Edmonton all have established Filipino communities, whose community groups and churches often help newcomers find housing and work. Rent and living costs differ widely between those cities; the cost of living in Canada section compares them.

Saving and investing once you’re settled

Pag-IBIG savings have no direct Canadian equivalent; once remittances are covered, the PR checklist shows when the TFSA, RRSP and FHSA open.

Guides for newcomers from India, China and the US cover the same steps for those countries.