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1. Now-defunct Canadian Immigrant Investor program allowed you to buy permanent resident status in Canada, thus avoiding any potential future tax discrimination
by eigenvector 11y ago
1. Now-defunct Canadian Immigrant Investor program allowed you to buy permanent resident status in Canada, thus avoiding any potential future tax discrimination against foreigners. Unlike the US Green Card, Canadian PR status is permanent, affords all the privileges of citizenship except voting, and can never be revoked, even if you join a foreign army to fight Canada. A similar incarnation of this program still exists in Quebec (and allows you to move to Vancouver on day 1).
So not only can you buy property in Vancouver, but you can send your family over without worrying about any immigration troubles and always know you will be able to come live here if you desire.
2. Canada allows unlimited cash to be brought into the country tax-free as a gift to a relative.
3. Any gains from property speculation will be tax-free if a spouse or child claims the property is their residence. See (1) about ease of getting immigration status for your family.
- badloginagain 11y agoAlso note that provincial/federal governments are willfully ignorant about these issues.
- rchaud 11y ago>Canadian PR status is permanent.... and can never be revoked That is incorrect. It can be revoked if the PR does not remain in Canada for at least 2 years of a 5 year period after it was issued. After the 5 year mark, most PRs have already transitioned to citizenship. http://www.cic.gc.ca/english/helpcentre/answer.asp?qnum=727&top=10 http://www.cic.gc.ca/english/helpcentre/answer.asp?qnum=727&...
- eigenvector 11y agoYou are correct. PRs must be in Canada for 2 of every 5 years, unless they obtain citizenship. I apologize for the error.
- orbitur 11y agoYou forgot that, with the exception of 2008-2013, the CAD has been and is very cheap.
- BurningFrog 11y agoThat explains why foreigners move to Canada. But why do they pick Vancouver among all Canadian cities?