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money trasfare
Anonymous

Created on: 08/08/2015
Last post: 14/08/2015

Replies: 0

we can explain or provide a link that describes the steps necessary to move some more then 4001K money to an account a country in to another country. Is it even possible in 24hours?

With all the crazy rhetoric, threats to default on debt and the parties taking the American economy hostage just to score political points, to me, it seems prudent to move some money offshore. we can move your money like tax free and don't think "the sky is falling", I just want to get all your eggs out of any country basket its possible.
your can contact me at 0014188001364

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Canadian investments
Anonymous

Created on: 08/08/2015
Last post: 14/08/2015

Replies: 0
I own shares in a corporation which I acquired for less than $100 000 dollars a year ago , they will soon be delivering large dividends (over $100 000) annually. I am from Canadian, I was wondering if I could establish a holding offshore company in the Gulf,Dubai, Qatar, Kuwait. and transfer the share to that company and invest through banks in the gulf to grow my wealth. Can I grow my wealth tax free in the corporation until I repatriate the money? Does anyone know of a good bank in the gulf for self directed investing in international equities? Thank you.

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Working Offshore for US Company but lives in Canada as a Permanent Resident
Anonymous

Created on: 06/06/2014
Last post: 25/07/2014

Replies: 0
Hi there, I'm a canadian permanent resident, I got an offer recently to work offshore in overseas for a US company. What are my options in order to save taxes when i file here in Canada, thanks!

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Canadian with lucrative shares in a Bermuda based company.
BobsNephew

Created on: 20/09/2012
Last post: 28/06/2013

Replies: 1
I own shares in a corporation which I acquired for less than $100 000 dollars, they will soon be delivering large dividends (over $100 000) annually. I am a Canadian, I was wondering if I could establish a holding company in the Cayman Islands, transfer the share to that company and invest through banks in the Caymans to grow my wealth. Can I grow my wealth tax free in the corporation until I repatriate the money? Does anyone know of a good bank in the Caribean for self directed investing in international equities? Thank you.

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resident vs non-resident for Canadians
Anonymous

Created on: 27/04/2013
Last post: 29/04/2013

Replies: 0
I am a Canadian citizen and am currently living abroad. What are the tax implications for becoming a non-resident. My only income is from pensions and a personal LIF. I am in that grey area for determining status. I have a bank account, drivers licence, mailing address etc. Any advice would be appreciated

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Cayman Islands Pension in Canada
Anonymous

Created on: 21/04/2013
Last post: 22/04/2013

Replies: 0
Although it is difficult to get decisive and binding information from anyone regarding the taxability of
the Cayman Islands "Pension" when when paid out in periodic lump-sums to repatriated Canadians,
I am hoping someone in this forum will be able to sort this out.

The so-called pension is a combination of compulsory contributions (from tax-free income) matched
by compulsory contributions of employers (also tax-free) and the income generated from those same
contributions (also tax-free) in Cayman.

It it not paid to a Canadian account but is paid to the Canadian's Cayman Island bank account. Should
this be reported on Canadian tax returns and thus, become taxable in Canada?

Any help would be appreciated.
Puzzled.


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Non-res Canadian investment company
Anonymous

Created on: 24/08/2012
Last post: 28/08/2012

Replies: 0
We would like to establish a Canadian investment company (probably a general partnership) in one of the provinces. We plan to trade in forex transactions in Canada to gain hedging capabilities. NFA and CFTC indicates we have to set up a legal entity to accomplish this investment vehicle. All partners are residents of the United States. Any advice on legal issues surrounding a Canadian partnership owned by non-residents would be appreciated.

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moving
mk

Created on: 18/01/2011
Last post: 30/03/2012

Replies: 2
Hi, I got a job offer for abroad, my family will be staying in Canada, not sure they will follow. I have an RRSP and a Pension plan. I, do not wish to close my bank accounts, because I will be visiting from time to time. I read on the CRA website about DEEMED NON-RESIDENT, where even if someone have factual ties in Canada, however he resides in another country with which there is a Tax Treaty, the person will be considered a NON-RESIDENT for Tax purposes. what will happen to my RRSP and pension, will there be a tax of 25%? and can anyone confirm the DEEMED NON-RESIDENT issue Does anyone has suggestions, Thanks

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Offshore for Canadians
Dieffenbaker

Created on: 27/07/2010
Last post: 30/03/2012

Replies: 2
Offshore advice for Canadians is scarce on the internet. No reporting requirement for overseas kept money below CAD 100K per natural persons. No reporting requirement for natural persons owned assets (NO LIMIT in value) provided that such assets are "of personal use", meaning a second home (you can have a second home in many a country for unquestionable reasons), boats, cars, art collections, jewels (however, precious stones and gold coins must be reported). For moderately wealthy Canadians, offshore gets more complicated and more risky when you go corporate: the Canadian Revenue Agency (CRA) will apply Common Law doctrine + far reaching and complex tax jurisprudence by which a holding vehicle will be deemed resident in Canada no matter it was incorporated outside of Canada. CRA will base their decision on where the beneficiaries are resident, where the assets are located and... where the "mind and control" is resident. Therefore, it seems that extreme attention must be given to appointing nominee directors, stating irrevocability of who can be appointed to such positions so as not to be deemed possible to change for a canadian resident as director at some point in the future, for offshore vehicles to really hold water for Canadians (I mean for Canadians other than the super-rich). Otherwise CRA will say that you may appoint yourself in the future. Multi-layer structures seem to be inevitable. Then remain the open question of how to transfer money offshore, what is private enough when it come to transfer money, etc... Promoting offshore vehicles (by local lawyers) in Canada is now discouraged, if not punishable. Voluntary disclosure has gone trendy. Private banking departments of major Canadian banks (the only ones entitled to do the promotion job) are discreet. Usually, a solution is available only through banks, for HNWI (above 1M$), banks will submit a structure proposal to some prominent law firm in order to get some sort of "green light" legal opinion as for tax compliance (can this design fly or not fly). So what you find in Canada is classical relationship between banks and major law firm, offering costly solutions for super rich but nothing for the "new rich". But even then, multiple TIEAs signed recently begin to give super wealthy Canadians some headaches (but to a much lesser extent than to American citizen because Canada is a rising empire on the map, loaded with natural ressources, with very well capitalized banks (there are only 6 banks) and less endebted folks, doesn't tax on citizenship but upon residency). The offshore question remains open for worried and overtaxed Canadians: is it better to stay under the "personal use" rule which scope is certainly wide enough for most snowbird investors. Or is it better to "go corporate". For those who need to go corporate, how and where? Any thoughts, experience, advice to share, please feel free. Canadian tax law non-competent, please abstent.

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Holding Company Bennefits
Bob Needs Help

Created on: 12/08/2010
Last post: 30/03/2012

Replies: 2
I own three residentail properties which are being rented and gennerated positive cash flow which I claim personnally. Is there a better way to shelter this investment against taxes. Should I be starting a Property Management business or Holding Company ????

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Offshore company formation for internet based business?
Anonymous

Created on: 31/07/2011
Last post: 16/03/2012

Replies: 4
Hello, I am a canadian expat now working abroad in the engineering field. I have residency in Indonesia and the UAE. I also have bank accounts in Singapore, Dubai, and Canada. I am an entreprenuer at heart and i would love to start a new venture by setting up a web based business but i need some help and advice. I plan to generate income on a website advertising job postings, contingency recruitment fees for finding people work in my specialized field of engineering and maybe even contracting myself out independantly. I would ideally like to form a offshore IBC or LLC in a country with no tax, Zero required capital investment, one person ie (myself) to be director/shareholder and no requirement of local representation as well as being able to have the freedom of having my documents kepts anywhere in the world. I plan on moving back to Canada in the next year or two, as i am a bit of a nomad at the moment. I have no ties with Canada at the present time therefore i would not be subjected to taxation on worldwide income. But if i start generating income through my planned offshore business when i move back would i then have to fork over some of my earnings to the Canadian gov't? any tips on being able to avoid the taxman without getting into hot water? If anyone can recommend a country and business structure that is best suited for my plans i would really apprieciate it! Thanks Cheers!

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UAE Expat returning to Canada
JIM

Created on: 27/05/2011
Last post: 11/01/2012

Replies: 7
I have been living in the UAE for 8 years now. I will be relocating back to Canada. I hope I can transfer moderately large sum of money [around 200K CAD] to my bank in Canada. Are there any glitches in the process OR should I take traveler cheques worth that amount. Would then there be difficulties while making a manual deposit of these cheques in my local Canadian account? I am not sure what are the rules? Additionally, I THINK I have been a non-resident since I have did not visit Canada during the first 4 years of my stay here in the UAE. Afterwards, there have been up to max. of 7 week visits in 2007, 2009 and 2010. My concerns are the following: 1] Should I keep my money in the UAE and sort out the TAX matters first in Canada? OR can I take the money there and then sort out the Tax matters there? 2] I heard that there is a TAX TREATY between the UAE and Canada. Will that treaty HELP me in the taxes and I could avoid DOUBLE TAXATION... 3] Should I hire a Tax Lawyer [Good one] to look into my case? I am not sure what is the BEST scenario and hence NEED DESPERATE HELP!!!!! Any advice would be truly appreciated.

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New Zealand Company Formation
Anonymous

Created on: 12/04/2011
Last post: 03/12/2011

Replies: 5
If a Canadian Citizen living in Canada, were to form a New Zealand Company Formation, for example an International Online Internet Business, would taxes on that business have to be paid to only the New Zealand government or to the Canadian and New Zealand Governments?

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Canadian company working for Isle of Man company
Anonymous

Created on: 22/11/2011
Last post: 22/11/2011

Replies: 1
I'm a Canadian and have incorporated myself. I have a contract opportunity to work for a company in Isle of Man. Though I'll be working and living in Ontario-Canada, and will be paid in CAD, the company I will do work for is not Canadian. 1. Does my corporation need to file with the Isle of Man government? 2. Does it matter based on how much I earn and the contract period? 3. What do I need to consider when I do my Canadian corporate tax filing? 4. As I'm paid by my own company, my personal tax filing is same as always, right? Many thanks

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New Zealand Web Business in Canada
kiwi

Created on: 19/10/2011
Last post: 19/10/2011

Replies: 1
Hi there, I'm a New Zealand citizen on a student visa in Canada. I'm unable to work while on this visa, but want to make some income doing web design while i study in Canada. (my PR application is in progress). Firstly, If I start a Canadian Business while studying, it seems risky, though potentially legal, at least in BC. Or, I could register a New Zealand corporation and have web design services charged to the NZ company - and taxes paid in NZ? Would Canadian taxes need to be charged for an 'overseas' internet service? Any advice? Thanks!

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Important Notice: Wolters Kluwer TAA Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All rights reserved.