Transferring Money For House Purchase

[gisjames]

I am transferring the deposit for a house we are purchasing. I'll transfer to my wife's account, so i don't need any advice on how to transfer, but I have heard I need to register the transfer as being for a house purchase. How do i do that?

[InterestedObserver]

The only requirement that I am aware of is to register the foreign exchange funds for the purchase of a condo in a foreign name. The wife won't care, she eventually gets the property anyway. You are essentially making a gift of money to your wife.

Edited July 15, 2010 by InterestedObserver

[keeniau96]

May be best to have the transfer to your own account then just transfer money to her. Having a record of foreign source funds incoming to your own account makes it much, much easier if you ever have to repatriate some money back or proof ow where the money for house ultimately originated. No extra hassle and just a bit of insurance for yourself.