The Benefits of Canadian Citizenship
February 2nd, 2010 Categories: Real Estate
GUEST POST - Ryan Rosenberg is am immigration lawyer and partner with Larlee Rosenberg, Barristers & Solicitors, in Vancouver. Contact Ryan at 604-681-9887, Ryan.Rosenberg@larlee.com or visit his firm website
CANADIAN CITIZENSHIPWealthy global families are increasingly aware of the need for a well thought-out citizenship andtax residency strategy to protect their wealth and safeguard their freedom of movement,investment and multi-generational asset preservation. In today’s uncertain world, prudentfamilies understand the importance of keeping their options open and having more than onepassport choice. Canada provides a safe and surprisingly tax-efficient alternative to many of the more well-known “offshore” citizenships. A summary of the advantages: TAX• Immigration Trust provides a legal 5 year tax holiday* for assets settled upon trust offshore• “Granny Trust” allows for permanent tax holiday for offshore trust assets• Canadian citizens can shed tax residency status by moving offshore• No estate taxes
• Top marginal rates set to decline for both individuals and corporations
CITIZENSHIP• 3 years residence to qualify (*Note that the tax free period of immigrant trust is 5 years making itpossible to acquire and retain Canadian citizenship without ANY substantial exposure to Canadiantax.)• Dual citizenship permitted• One of the world’s safest and most convenient travel documents
• Visa free access to USA, EU, Commonwealth countries, Japan, HK, most of ASEAN, NAFTA
IMMIGRATION• Fast processing times for US persons/ open immigration policy for qualified families• Several categories for investors and skilled workers• Special advantages (tax and immigration) for financial services firms, multi-family offices, hedge
funds, insurance companies, etc. In Vancouver top marginal rates may be as low as 12% – 15%.
LONG TERM STRATEGIC ADVANTAGES• World’s strongest banking system• World’s leading energy superpower (oil, gas, hydroelectric, coal, uranium, geothermal, etc.)• Fiscal responsibility/ balance of trade surpluses• Geographically isolated from the world’s trouble spots• Vancouver as the No. 1 lifestyle city in the world. Country generally a “safe haven”In conclusion, Canadian citizenship is a solution that is both attractive and realistic to many ofthe tax challenges that high net worth families face today. The advantages are essentiallyunmitigated by any significant disadvantages keep up to date with vancouver’s changing real estate market, subcribe via RSS or email when you’re ready to buy or sell in Coal Harbour, contact Maggie, an experienced realtor marketing vnacouver homes since 1981
; ?>/images/MatoChiclet.gif)
