MOVING TO CANADA FROM THE U.S.
Whether you are a U.S. citizen moving to Canada or a Canadian expat moving back home, important tax and financial planning considerations must be examined well before becoming a Canadian tax resident. With a Cardinal Point cross-border advisor, we assist U.S. citizens whom are moving to Canada in through a variety of solutions.
MOVING TO CANADA FROM THE U.S.
Whether you are a U.S. citizen moving to Canada or a Canadian expat moving back home, important tax and financial planning considerations must be examined well before becoming a Canadian tax resident. With a Cardinal Point cross-border advisor, we assist U.S. citizens whom are moving to Canada in through a variety of solutions.
Our Comprehensive Cross-Border Solutions for Americans Moving to Canada
Unfortunately, many people make the mistake of moving to Canada before addressing their financial affairs, resulting in missed tax-saving opportunities and potential double taxation. Our services are specifically designed to minimize tax liabilities for Americans relocating to Canada. Managing investments, taxes, and financial planning across borders is complex and requires a deep understanding of both U.S. and Canadian laws. Our team specializes in the regulations of both countries, providing personalized advice to ensure a seamless transition and effective financial management. We offer assistance in resolving tax issues and maximizing investment opportunities tailored to your specific needs. Leveraging our extensive knowledge of U.S. and Canadian rules, we guide you in making informed decisions that align with your personal financial goals. At Cardinal Point, our cross-border advisors are dedicated to assisting clients in these crucial areas:
- Customs and immigration guidance
- Pre-immigration tax planning strategies to reduce the risk of double taxation
- Incorporated exit strategy to prevent residency questions or issues
- Personal and corporate Canada and U.S. tax preparation including annual foreign account disclosure filings
- Advice on specific assets that should transfer to Canada or remain in the United States
- Selection and transition of specific U.S. investment accounts to Canada
- Canadian investment and retirement account creation
- Coordinated investment management services for U.S. and Canadian accounts
- Assistance with currency conversion strategies
- Canada-U.S. cross-border financial and retirement planning
- Advice on U.S. retirement distribution strategies while residing in Canada
- Holistic advice on cross-border financial and estate planning
- Assistance with ongoing cross-border tax planning strategies
- Ongoing “Canada-U.S. Tax Treaty” advice to avoid double taxation
- Guidance on retirement benefits, such as CPP, OAS, Social Security and Medicare
- U.S. stock option and company bonus plan advice before exiting the United States
- Residential and commercial real estate advice
- Assistance with the facilitation of exit tax returns
- Health, life, disability, long-term care, business and property insurance review
- Guidance on the unique economic and regulatory environment in Canada
How We Help
Cross-Border Financial Planning
Cross-border financial planning is crucial for Canadians and Americans living in or between the U.S. and Canada—not just to minimize tax exposure, but also to reduce potential liabilities.
Cross-Border Investment Management
Cross-border investment management significantly benefits those who have lived or worked in both Canada and the U.S. and have accumulated investment accounts in both countries. Cross-border investment management brings the cohesion and integration needed to properly manage investment accounts and assets under one uniformed strategy
Cross-Border Estate Planning
Cross-border estate planning is critical for Americans and Canadians living and working in the U.S. and Canada due to the differing tax laws and regulations in each country. Without proper planning, individuals may face significant tax liabilities, potential double taxation, and legal complications when transferring assets across borders.
Cross-Border Tax Planning
Cross-border tax planning for Americans and Canadians living, working, or investing in both countries involves multiple tax considerations, treaties, rules, and regulations. Learn how Cardinal Point can help minimize your tax exposure in the U.S. and Canada while ensuring compliance with all local and state tax laws.
OUR RECENT PUBLICATIONS
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We previously wrote about the proposed impact of Section 899. Now, as Canadian investors continue to look south of the border for diversification and potential returns, new legislative developments in Washington could have significant tax consequences — or relief — depending on how events unfold. Most recently, U.S. Treasury Secretary Scott Bessent called on Congress [...]
Cross-Border Tax Residency Planning Strategies for Individuals, Entrepreneurs, and Fiduciaries
As more individuals and business owners straddle the Canada-U.S. border—whether for lifestyle, business, or retirement—questions of tax residency, domicile, and income sourcing have become central to smart financial planning. With the rise of remote work, increased M&A activity, and more aggressive tax enforcement on both sides of the border, cross-border clients must navigate a complex [...]