Hello everyone, thank you in advance for your advice.
I have been living in Japan for the past 3years and about to buy a house. I have taken a loan from my parents of 150kCA$ to help me pay for it.
I checked the rates on wise.com and it seems good. I plan to make the transfer between Canada and my personal account where I have the rest of the money to pay for the property.
Should I expect any surprises? I heard my bank in Japan (SMBC) might need to provide proof of where this money comes from, my parents should be able to provide a signed statement etc. Any tax to be aware about?
Again thank you for taking the time to help.
by opeRaptor_