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Terry Ritchie and James Sheldon in Institutional Investor

March 5, 2014 By Cardinal Point Wealth

This article from Institutional Investor features the commentary of Cardinal Point’s Terry Ritchie and James Sheldon. It highlights why the U.S. is increasingly a low-risk haven for wealthy families seeking to escape turmoil in emerging markets.

The U.S. Treasury Department has income tax treaties, protocols and tax information exchange agreements in place with 40 jurisdictions, including Canada. Ritchie comments that U.S. and Canadian officials have been working closely to streamline the exchange of tax information. “It’s an increasingly complicated process of dealing with property and passive income issues, and it is only going to become harder as more new regulations come into play,” says Ritchie.

Some families couple their desire to hold assets abroad with a desire for legal residency. More upper-class families in emerging-markets nations are seeking investment-qualified immigration status to enable adult children to live and work in the U.S. while also keeping assets out of reach of home governments. Sheldon comments that such practices boil down to buying a green card: “I don’t really have faith in the nature of qualifying investments in many of the cases that we have seen.” To read the full article, click here.

Filed Under: Articles, Cross-border Tax Planning, Immigration, interviews Tagged With: Cross-border tax planning, Immigration

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“Cardinal Point” is the brand under which dedicated professionals within Cardinal Point Capital Management, ULC provide financial, tax and investment advisory, risk management, financial planning and tax services to selected clients. Cardinal Point Capital Management, ULC is a US registered investment advisor and a registered portfolio manager in Canada (ON, QC, MB, SK, NS, NB, AB, BC). Advisory services are only offered to clients or prospective clients where Cardinal Point and its representatives are properly registered or exempt from registration. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital.