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What is involved in a US citizen immigrating to Canada?

If I sell my property in the US, pay all the capital gains taxes on it and buy a place in Canada, what's involved?

Is there a tax or problem moving my money out of the US or into Canada?

Do pursue citizenship or can I stay as a resident alien? Or will they tell me to head back to the US at some point?

Thanks in advance

2 Answers

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  • bw022
    Lv 7
    8 years ago
    Favorite Answer

    Americans are free to purchase property in Canada. However, purchasing property does not allow you to live or work in Canada. Americans are free to visit for a maximum of 180 days each year. Visitors may not attend school, work, or look for work in Canada, nor can you obtain a driver's license, social insurance number, open a bank account, apply for health insurance, etc., etc.

    In order to stay temporary in Canada, you would need either a study permit, work permit, or permanent residency. Permanent residency requires meeting specific requirements such as: marrying a Canadian; having a net worth of $1.6M and investing $800k in Canada; obtaining a skilled job offer from a Canadian company in specific professions and then competing based on age, language, education, work experience, etc. for one of 10,000 positions each year; complete certain university degrees in Canada and find work in your profession shortly after graduating; be nominated by one of the provinces (doctor willing to work in a remote community, willing to buy/run a farm in certain provinces, world class performing artist, etc.) You must pass medical, background, and financial checks. Processing times in most categories are three or more years.

    You can retain your permanent residency status by remaining in Canada for a minimum of two years out of the past five years. Citizenship requires that you live in Canada at a permanent resident for a minimum of three years.

    If you are found in Canada after 180 days without a valid visa, or you attempt to find employment without a visa you'll be deported and banned from the country.

    All American citizens are required to submit US income tax returns and report income earned outside the United States. This is subject to US income taxes (although at lower rates). You'll be taxed twice.

  • ?
    Lv 7
    8 years ago

    the rules to emigrate to Canada for a US citizen are the same rules as someone emigrating from Botswana. Money doesn't matter.

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