Hi,
I have just been offered and accepted a position with our US parent Company.
I have been a Canadian Resident since 1989 (landed Immigrant converted to permenant Resident status) I have not taken my Citizenship but would like to as both my wife and son are Canadian Citizens and I would like to ensure that I can come back easily if needed.
I am still a UK Citizen.
I have many questions but the main one is the question of becoming a Citizen and then applying to become a Canadian Non Resident, should I do this as I know it is going to take a minimum of 19 months to go through the process.
I have seen many posts, here and elswhere, about the good and bad of becoming a Non Resident to reduce taxes but the idea of having to sell everything, dissascoiate ourselves from Canada is daunting to say the least.
We own a house here (mortgaged) 2 new cars (both Financed) RRSP's etc so some good advice as to what is best for me and my family would be very much appreciated.
PaulC
Canadian Resident transfering to US
Moderator: Mark T Serbinski CA CPA
Once you leave canada to live and work in US with your family, you are a non-resident, regardless of the times you may have in canada. Also, PR deals with physical presence in canada, not tax ties.
So, there is no point maintaining Cdn residential ties for tax purposes, as this merly increases your tax and does noting to help you get citizenship of maintain PR status.
So, there is no point maintaining Cdn residential ties for tax purposes, as this merly increases your tax and does noting to help you get citizenship of maintain PR status.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
You should have got your Cdn citizenship at the earliest opportunity.
It also would make migrating to US easier as Cdn citizens avoid many of the other consualr requirements other nationals have in US.
It also would make migrating to US easier as Cdn citizens avoid many of the other consualr requirements other nationals have in US.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
Thanks Nelson,
I really appreciate the reply.
Believe me not applying for Citizenship is one of my biggest regrets and after being here since 89 there is no excuse.
The main concern I have with not applying for my Citizenship now and then becoming a Non Resident is that I will lose my PR within 2 years as I will not be in Country for 183 days a year in a 5 year period and I am not sure how difficult it would be for me to regain PR if and when we decide to come back to Canada.
I am seing a lawyer tomorrow refered to me by the US but most of my questions revolve around taxes and accounting, we would prefer not to sell the house and rent it out, with holding taxes aside we should be able to cover our costs.
Locking down the RRSP's and moving them to a firm that will work with Non Resident status, US filing (and possibly Canadian for this year) etc ect.
I think I should be talking to a Tax Consultant not a Lawyer or both, perhaps it would be a good idea for me to make an appointment with Serbinski to discuss?
I really appreciate the reply.
Believe me not applying for Citizenship is one of my biggest regrets and after being here since 89 there is no excuse.
The main concern I have with not applying for my Citizenship now and then becoming a Non Resident is that I will lose my PR within 2 years as I will not be in Country for 183 days a year in a 5 year period and I am not sure how difficult it would be for me to regain PR if and when we decide to come back to Canada.
I am seing a lawyer tomorrow refered to me by the US but most of my questions revolve around taxes and accounting, we would prefer not to sell the house and rent it out, with holding taxes aside we should be able to cover our costs.
Locking down the RRSP's and moving them to a firm that will work with Non Resident status, US filing (and possibly Canadian for this year) etc ect.
I think I should be talking to a Tax Consultant not a Lawyer or both, perhaps it would be a good idea for me to make an appointment with Serbinski to discuss?
I think you are not quite right on the PR eligibilty: it is 730 days in every 5 year period that you must physically be in Canada. There isn osuch 183 day per year for x year requirement.
So, if you have been in Canada for the past 2 years solid, you could leave for 3 years without impact. Sop count the days in the past 2 yeasr you have been out of canada, and you have your time limit for the next three years.
The problem for you is that there I believe there is also a residncy requirements at the time you apply for citizenship that must be separately met.
So, if you have been in Canada for the past 2 years solid, you could leave for 3 years without impact. Sop count the days in the past 2 yeasr you have been out of canada, and you have your time limit for the next three years.
The problem for you is that there I believe there is also a residncy requirements at the time you apply for citizenship that must be separately met.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
Hi Nelson,
Thanks.
You are correct it is 2 years in the past 5 years, my mistake.
Yes there are requirements to apply for citizenship, you must have lived in Canada for 3 years (1,095 days) in the past 4 years.
With Business trips and vacations I qualify, verified by immigration Canada and the 4 years taken into account are the 4 years prior to the date you file your application.
So you can apply even if you (as in my case) are out of the country, as long as you meet the above requirements.
Thanks.
Thanks.
You are correct it is 2 years in the past 5 years, my mistake.
Yes there are requirements to apply for citizenship, you must have lived in Canada for 3 years (1,095 days) in the past 4 years.
With Business trips and vacations I qualify, verified by immigration Canada and the 4 years taken into account are the 4 years prior to the date you file your application.
So you can apply even if you (as in my case) are out of the country, as long as you meet the above requirements.
Thanks.