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Canadian with lucrative shares in a Bermuda based company.

Asked in Offshore (General) for Canada

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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.
 
Tax Holding company Cayman Islands Dividends
 
Posted by BobsNephew on Sep 20, 2012 at 01:36
 

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You are still required to report passive incomes earned by foreign affiliates (i,e. cayman company you established) even after you transfer your Canadian company's share to a Cayman . Your passive incomes (dividends and capital gains earned during the course of your "grow my wealth" are taxed in Canada even though they are kept outside Canada. This is a black and white position CRA would take. If anyone knows better about the matter than me can comment on it, I am interested in hearing about it.
 
Posted by Lowtax User on Jun 23, 2013 at 21:02
 

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Posted by Kathie22 on Jun 24, 2015 at 00:23
 

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Posted by EDWARDJONES12 on Sep 20, 2016 at 16:32
 

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Posted by EDWARDJONES12 on Sep 20, 2016 at 16:46
 

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