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QUESTION:
Gentlemen,
My question is as follows: I am a Canadian citizen. Non-resident of Canada
for about 12 years and currently working in Saudi Arabia. I will like to
move to the USA this summer and settle down in Florida.
My wife and two boys are also canadian citizens living with me in Saudi
Arabia. My older son has dual citizenship being an American by birth. He
is 11 years old.
We would like to get settled in the US. I am looking to bring approx $400K
USD cash into the States, buy a house for $300K USD mortgaging $100K by
putting a down payment of $200K. The remaining money will be used to buy an
existing business (possibly a coffee shop, sandwich shop, gas station or
similar..). Therefore I will be working to manage, and run the business...
I would like to know if this is possible? What visas I should apply for? My
children will need to attend school in Florida so I will need the
appropriate residency status. I would like to know if by becoming a resident
of florida if my world wide income from other sources outside of canada will
also be taxable? I do know that if my son was over 21 years old, he would
have been able to sponsor us.
I am very much interested in calling the office and speaking with your
experts concerning my situation however I need some guidance preliminary to
decide if this is feesable.
Many thanks in advance.
========================================================
david ingram replies:
What you are suggesting is certainly possible. You can go to Florida with an E2 Business Visa.
Goto www.centa.com - click on Newsletters - click on 1995 - click on January and read Dennis Olsen's guest newsletter.
Dennis is now in private practice in Everett, Washington and would be an excellent resource to look after your visa. Our office could work with him to produce the financial statements you would need.
Please be advised however, that the E2 visa does not give you the right to apply for a Green card or Resident alien card for permanent residency in the USA.
For that, you would be better getting a job in the USA with an H1B visa and then applying for your resident alien status.
You could likely also go the TN > H1B > EA > Resident Alien routeif you have a professional degree.
Of course, you could also spendten years with an E2 and then have your son sponsor you as well.
Let me know If I can help.
David Ingram's US/Canada Services
US / Canada / Mexico tax and working Visa Specialists
US / Canada Real Estate Specialists
4466 Prospect Road
North Vancouver, BC, CANADA, V7N 3L7
Calls accepted from 10 AM to 10 PM 7 days a week
Res (604) 980-3578 Cell (604) 657-8451
Bus (604) 980-0321
[email protected]
www.centa.com www.david-ingram.com
Disclaimer: This question has been answered without detailed information or consultation and is to be regarded only as general comment. Nothing in this message is or should be construed as advice in any particular circumstances. No contract exists between the reader & the author and any and all non-contractual duties are expressly denied. All readers should obtain formal advice from a competent financial, or real estate planner or advisor & appropriately qualified legal practitioner, tax or immigration specialist in connection with personal or business affairs such as at www.centa.com. If you forward this message, this disclaimer must be included."
This from "ask an income tax and immigration and bankruptcy expert" from www.centa.com or www.jurock.com or www.featureweb.com. Canadian David Ingram deals daily with tax returns dealing with expatriate:
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David Ingram of the CEN-TA REALTY Group
US / Canada / Mexico tax and working Visa Specialists
US / Canada Real Estate Specialists
4466 Prospect Road
North Vancouver, BC, CANADA, V7N 3L7
(604) 980-0321 - Fax 913-9123 [email protected]
www.centa.com www.david-ingram.com
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