QUESTION:
I am 62 years old, semi retired. My wife and I would like to buy a home in
Canada near the water. I have an aunt that live in Canada, my late father's
sister. I understamd that I cannot get duel citizenship. What option do I
have? Can I live in a home in Canada, that I purchased year round, etc? How
can I work in Canada and still have USA citizenship?
Can you help me find the rifght info?
JXXX XXXXX
=========================
david ingram replies:
What a question. Remember that Canada stretches 5,800 miles from Botanical
Beach (Jordan River), BC to Cape Spears, Newfoundland and is composed of 10
Provinces and 3 Territories.
Waterfront is also an interesting suggestion. You can buy a helluva
waterfront place is many areas of Newfoundland for less than $100,000 US and
spend up to $6,000,000 for waterfront houses and condos I can see from my
window as I write this (I don't live in one but I am at the 900 foot level
of a mountain overlooking West Vancouver BC)
1. At 62, it is almost impossible to come to Canada on a full time basis as
a PR (Permanent Resident) unless you take a full time job. If you take a
full or almost full time job, it is very possible that you could apply for
and receive PR status.
2. Another method would be to come as a business investor by investing
$400,000 Canadian in Government sponsored programs
Immigrating to Canada as an Investor (Business Class)
As an investor, you must make a prescribed investment of CDN $400,000. This
investment is placed with the Receiver General of Canada.
Participating provinces then use your investment to create jobs and help
their economies grow. Citizenship and Immigration Canada (CIC) will return
your investment to you, without interest, in approximately five years after
you become a permanent resident.
You may finance your investment. CIC has agreements with a number of
financial institutions, all of which are members of the Canada Deposit
Insurance Corporation (CDIC), to facilitate the financing of your
investment.
You may find full details at:
http://www.cic.gc.ca/english/business/invest-1.html
3. You might come as an Entrepreneur
To qualify as an entrepreneur, you must have business experience. This means
that you must have managed and controlled a percent of equity of a
qualifying business. Entrepreneurs must have a legally obtained net worth of
at least CDN $300,000.
When you immigrate to Canada as an entrepreneur, you must have the intention
and the ability to control a percentage of equity of a qualifying Canadian
business. You must provide active and ongoing management of the qualifying
Canadian business. Your business must create at least one new full-time job
for a Canadian citizen or permanent resident. You must meet these
requirements within three years of becoming a permanent resident.
Before your immigrant visa is issued, you are required to sign a statement
that you intend and will be able to meet the conditions of permanent
residence.
Details of the Entrepreneur Program are available at:
http://www.cic.gc.ca/english/business/entrep-1.html
If you get here as a PT, you are entitled to take out Canadian Citizenship
while retaining your US Citizenship.
"Or", you could buy your house in Canada while maintaining your US home. or
another one). You could then spend 5 months in Canada and seven months in
the US every year. You could have a place in Victoria and another one in
the US at Port Angeles, a two to three hour ferry ride away.
You could have a place on the water in Sechelt, BC and another one in Coos
Bay, Oregon.
I would be glad to assist you with any part of this.
If you are interested in dealing with a Greater Vancouver Realtor, you might
try Christine Louw at www.christinelouw.com
If you wish to phone or write,
Christine Louw
ReMax Masters Realty
200 -1455 Bellevue Avenue
West Vancouver, BC V7T 1C3
Canada
Ph: (604) 990-3936
Fax: (604) 990-3917
or John McKilligan at
Care Realty Ltd
(604) 987-1245
700 7th St East
North Vancouver, BC
==========================
Both of these fine realtors have experience dealing with out of country
buyers and sellers.
===================================
Answers to this and other similar questions can be obtained free on Air
every Sunday morning.
Starting this Sunday at 9:00 AM on 600AM in Vancouver, Fred Snyder of
Cartier Partners and I, David Ingram will be hosting an INFOMERCIAL but
LIVE talk show called "ITS YOUR MONEY"
local calls to (604) 280-0600 - Long Distance - BC only 1-866- 778-0600
Those outside of the Lower Mainland will be able to listen on the internet
at
www.600AM.com <http://www.600am.com/>
----------------------
This from "ask an income tax and immigration expert" from www.centa.com
<http://www.centa.com/> or www.jurock.com <http://www.jurock.com/> or
www.featureweb.com <http://www.featureweb.com/> . David Ingram deals on a
daily basis with expatriate tax returns with:
multi jurisdictional cross and trans border expatriate problems for the
United States, Canada, Mexico, Great Britain, the United Kingdom, Kuwait,
Dubai, Saudi Arabia, Thailand, Indonesia, Japan, China, New Zealand, France,
Germany, Spain, Italy, Russia, Georgia, Brazil, Peru, Ecuador, Bolivia,
Scotland, Ireland, Hawaii, Florida, Montana, Morocco, Israel, Iraq, Iran,
India, Pakistan, Afghanistan, Mali, Bangkok, Greenland, Iceland, Cuba,
Bahamas, Bermuda, Barbados, St Vincent, Grenada,, Virgin Islands, US, UK,
GB, and any of the 43 states with state tax returns, etc. Rockwall, Dallas,
San Antonio and Houston Texas
Denmark, Finland, Sweden Norway Bulgaria Croatia Income Tax and Immigration
Tips, Income Tax and Immigration Wizard Income Tax and Immigration Guru
Income Tax and Immigration Consultant Income Tax and Immigration Specialist
Section 216(4) 216(1) NR6 NR-6 NR 6 Non-Resident Real Estate tax specialist
expert preparer consultant expatriate anti money laundering money seasoning
FINTRAC E677 E667 4789 4790 TDF-90 Reporting $10,000 cross border
transactions
Alaska, Alabama, Arkansas, Arizona,
California, Colorado, Connecticut,
Delaware, District of Columbia, Florida,
Garland, Georgia, Hawaii, Idaho, Illinois,
Indiana, Iowa, Kansas, Kentucky,
Louisiana, Maine, Maryland,
Massachusetts, Michigan, Minnesota,
Mississippi, Missouri, Montana, Nebraska,
Nevada, New Hampshire, New Jersey,
New Mexico, New York, North Carolina,
North Dakota, Ohio, Oklahoma, Oregon.
Pennsylvania, Rhode Island, Rockwall,
South Carolina, South Dakota, Tennessee,
Texas, Utah, Vermont, Virginia,
West Virginia, Wisconsin, Wyoming,
British Columbia, Alberta, Saskatchewan,
Manitoba, Ontario, Quebec City,
New Brunswick, Prince Edward Island,
Nova Scotia, Newfoundland, Yukon and
Northwest and Nunavit Territories,
Mount Vernon, Eumenclaw, Coos Bay
and Dallas Houston Rockwall Garland
Texas Taxman and Tax Guru and wizzard
wizard - consultant - expert - advisor -advisors consultants - gurus - Paris
Prague Moscow Berlin
Lima Rio de Janeiro, Santaigo
David Ingram's US/Canada Services
US / Canada / Mexico tax, Immigration and working Visa Specialists
US / Canada Real Estate Specialists
4466 Prospect Road
North Vancouver, BC, CANADA, V7N 3L7
Res (604) 980-3578 Cell (604) 657-8451
(604) 980-0321 Fax (604) 980-0325
Email to taxman at centa.com <mailto:taxman at centa.com>
www.centa.com <http://www.centa.com> www.david-ingram.com
<http://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 and the author and any
and all non-contractual duties are expressly denied. All readers should
obtain formal advice from a competent and appropriately qualified legal
practitioner or tax specialist in connection with personal or business
affairs such as at www.centa.com <http://www.centa.com> . If you forward
this message, this disclaimer must be included."
Be ALERT, the world needs more "lerts"
---
Outgoing mail is certified Virus Free.
Checked by AVG anti-virus system (http://www.grisoft.com).
Version: 6.0.768 / Virus Database: 515 - Release Date: 9/22/04
---
Outgoing mail is certified Virus Free.
Checked by AVG anti-virus system (http://www.grisoft.com).
Version: 6.0.768 / Virus Database: 515 - Release Date: 9/22/04
What's Related