QUESTION: My wife and I live in XXXXXXXX, and operate a business doing
xxxxxxxxxxxxx xxxx. This is a "green" product and process (as well as being
very beautiful), and we understand that Vancouver B.C. is in a building boom
and the culture is very friendly to green building technologies. Marketing
aside, what are the steps to be able to legally work and live in Vancouver?
Also, we have three school-age children; what legal access would they have
to the public school system?
Thank you. I look forward to your reply.
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david ingram replies:
You could open a branch here and come to Canada as an intra-company transfer
"IF" you continue to operate the Texas business.
You could make a significant investment in the $400,000 (Cdn) range and come
to Canada as a Business Person. In this case, you have to have a net worth
of $800,000 and $400,000 of that has to be invested in the Business venture.
You can find out more about business immigrating to Canada at:
http://www.cic.gc.ca/english/business/index.html
There is a specific Provincial Nomination program which you should also look
at, Each province is different but the Vancouver, BC details are at:
http://www.ecdev.gov.bc.ca/ProgramsAndServices/PNP/index.htm
and you can find out more about immigration in general at:
http://www.cic.gc.ca/english/immigrate/index.html
Another possibility is that either you or your wife could qualify as a
skilled worker: See the details at:
http://www.cic.gc.ca/english/skilled/index.html
There is a self-assessing test at:
http://www.cic.gc.ca/english/skilled/assess/index.html
Hope this helps. You should also go to www.centa.com and read the US Canada
Income Tax section in the second box down on the right hand side.
Your children will qualify to be in school with whatever visa you qualify
under. Glad to provide more help if you need it.
My fee schedule follows:
Phone consultations are $400 for 15 minutes to 50 minutes (professional
hour). Please note that GST is added if product remains in Canada or a phone
consultation is in Canada.
This is not intended to be definitive but in general I am quoting $800 to
$2,400 for a dual country tax return.
$800 would be one T4 slip one W2 slip one or two interest slips and you
lived in one country only - no self employment or rentals or capital gains -
you did not move into or out of the country in this year.
$1,000 would be the same with one rental
$1,200 would be the same with one business no rental
$1,200 would be the minimum with a move in or out of the country. These are
complicated because of the back and forth foreign tax credits. - The IRS
says a foreign tax credit takes 1 hour and 53 minutes.
$1,500 would be the minimum with a rental or two in the country you do not
live in or a rental and a business and foreign tax credits no move in or
out
$2,400 would be all of the above and you moved in and out of the country.
This is just a guideline for US / Canadian returns
We will still prepare Canadian only (lives in Canada, no US connection
period) with two or three slips and no capital gains, etc. for $150.00 up.
With a Rental for $350
A Business for $350 - Rental and business likely $450
And an American only (lives in the US with no Canadian income or filing
period) with about the same things in the same range with a little bit more
if there is a state return.
Moving in or out of the country or part year earnings in the US will ALWAYS
be $800 and up.
TDF 90-22.1 forms are $50 for the first and $25.00 each after that when part
of a tax return.
8891 forms are generally $50.00 to $100.00 each.
18 RRSPs would be $900.00 - (maybe amalgamate a couple)
Capital gains *sales) are likely $50.00 for the first and $20.00 each after
that.
Just a guideline not etched in stone.
David Ingram's US / Canada Services
US / Canada / Mexico tax, Immigration and working Visa Specialists
US / Canada Real Estate Specialists
My Home office is 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 9 PM 7 days a week Vancouver (LA) time -
(please do not fax or phone outside of those hours as this is a home office)
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 for expert help, assistance, preparation, or
consultation 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."
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