Log In
Register
Home
Topic RSS
Facebook
Twitter
Email this11:32 pm
September 30, 2013
Offline
Hello all,
My wife and I are non-residents for tax purposes. I've got a couple questions.
1) Anyone know which Canadian credit unions paying decent interest rates do business w/ expat Canadians? I'm finding a jumble of contradictory (and outdated) info in cyberspace.
2) Anyone recommend a wealth manager who has extensive experience working with non-resident Canadians?
Thanks
1:40 am
September 30, 2013
Offline
FYI - expat Canadians:
- Implicity (Manitoba) can open new accounts for CANADIAN RESIDENTS ONLY.
- Achieva (Manitoba) can open new accounts for CANADIAN RESIDENTS ONLY.
What all this means is that if you're a NON-RESIDENT FOR TAX PURPOSES, they won't open an account for you. Even if you're a Canadian citizen holding a valid Canadian passport.
Boo hoo.
5:19 am
February 22, 2013
Offline
You likely know of the Canadians Resident Abroad magazine, but I am pointing it out in case you don't:
I have no idea how good or bad it is or how helpful they might be.
Greg
5:26 am
February 22, 2013
Offline
And on further reflection (and a quick look at Form NR-73), I thought being a Non--Resident for Tax Purposes really precluded you from having Canadian banking ties.
Greg
7:33 pm
September 30, 2013
Offline
The wording is very fuzzy. This is what I understand, as do many accountants: Having a Canadian bank acc't is considered a secondary tie. In and of itself it cannot be the sole determining factor of a person's residency status. From what I gather if you had a Canadian bank, investments in a Canadian brokerage, a house in Canada, registered cars, etc, then someone could argue that you have no basis for declaring yourself a non-resident for tax purposes. With this in mind, closing one bank account, because you don't like them anymore, to open another in its place seems insignificant and irrelevant.
Please write your comments in the forum.