My son XXXXXX is a Canadian living in the US with permanent
resident status (green card). He is planning to go to Canada in
2007 to pursue his MBA degree and may stay and work in Canada
afterwards. He recognizes that he would lose his green card if
away from the US for over 1 year and would need to have US
citizenship in order to return. He is unsure of the advantages
and disadvantages of getting US citizenship and becoming a dual
citizen.
I am interested in getting your recommendations if he should
apply for US citizenship prior to going to Canada. What are the
legal and financial pros and cons of having dual citizenship? If
he obtains US citizenship, should he declare non-residency while
he is at university in Canada? Would he have to pay income tax to
the US if working in Canada?
Can you advise me of your fee for doing this work? Would it be
possible to provide your assessment via email since we live in
Virginia?
Some background info:
- xxxxxx is 24 years old, single
- Received green card in Aug 2001
- No assets in Canada
- US assets - approx. $6000 in 401k; $9000 in Roth
Thank you.
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david ingram replies:
I would charge $400 per hour Canadian for the kind of
consultation you desire.
I also have NO doubt that I would recommend he get his US
citizenship first.
He can, of course, apply for an extension to keep his US Green
card alive while out of the country.,
To do this he has to file form I-131 and pay the fee BEFORE
coming to Canada. He will then have to renew it every year.
The record I know of is eight years of renewals at which time the
client returned to the US and are now citizens. Their life would
have been much easier if they had taken out US citizenship before
returning to Canada. Their return to the US was greatly
complicated by the birth of two children while back in Canada.
David Ingram's US/Canada Services
US / Canada / Mexico tax, Immigration and working Visa
Specialists
US / Canada Real Estate Specialists
Home office at:
4466 Prospect Road
North Vancouver, BC, CANADA, V7N 3L7
Cell (604) 657-8451 -
(604) 980-0321 Fax (604) 980-0325
Calls welcomed from 10 AM to 10 PM 7 days a week (please do not
fax or phone outside of those hours as this is a home office)
email to taxman at centa.com
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 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 for expert help, assistance,
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