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EMAILS ANSWERED!

Here are a couple emails I received, and the answers I gave to them:

QUESTIONS:

First off, to work there for tax purposes do I need to be deemed a non-resident of Canada?

If so, does this mean I will have to close my bank account and credit cards that I have here?

I am in a jam and not sure what to do, I have school loans to pay off and am leaving for Korea to work there and pay off the debt faster!

Any tips on transferring money, etc .. how will this work for me. I am confused! Any help would be great

Kim

p.s. Also is there a limit on how much I can bring back over b/c I was planning on paying off a huge chunk of my debt throughout the year by transferring money at different times into my account at home.

As well, how much would you suggest I take over there to get started? Should I convert it to Won beforehand?

 

ANSWERS:

The non-resident issue is an interesting one...I would talk to an accountant or professional to get your answers. I'm in the process of figuring it out myself.

It's easy to wire money home...from your Korean bank to your CDN bank. If you send more than 10K, you need to show the bank your income slips from your employer. I would suggest bringing at least 1500CDN/US to start off...and don't bother converting the money until you get there. Convert maybe a couple hundred at the airport, and then convert the rest at banks as you go along.

 

QUESTION:

Well, is it true everything I hear about South Korea? Very affordable, excellent internet coverage, friendly people etc etc? I'm just about to go out and a buy a language kit...I've got a lot of studying to do. Anyway, I continue to read your blog which is both amusing and informative, but send me an email sometime if you don't mind.

 

ANSWER:

South Korea is a great place. It is affordable (depending on your lifestyle of course), the internet is good, transit is cheap and fast, and the people are friendly and helpful. My advice for you is to read up on South Korea for some background and also bring deodorant (and bed sheets and sheets) with you as it's only sold in a few places at a super inflated price.

 

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