KAL KENNARD, MANAGING DIRECTOR
It’s not just Harry & Meghan whom have decided to move to Canada, this country has seen a growing influx of international investment in the last years from around the world. What’s driving Canada as a destination for the international citizen and for wealth protection?
There’s a few reasons, not the least of which is the culture. Unlike the American ‘melting pot’ society where immigrants are expected to conform to norms, the Canadians have a ‘mosaic’ society where individual cultures are celebrated and preserved in a Canadian tapestry.
Canada is a citadel for western liberalism and tolerance, and if all that is not attractive the geography sure is. First world infrastructure and technology in modern urban centers set into the world’s biggest outdoor park, with scenery and expanses of nature that reach the bottom of your soul.
Add to that a beloved national trait of being as friendly as good manners allow and you have a place where people want to be, while there are currents going on in the rest of the world in these last years that feel unstable to us all. That has also translated into real estate investment opportunities which present an unparalleled combination of return potential and value safety.
There’s a price to pay for this, and in Canada that is tax. Combining all taxes at local to federal levels, a dollar earned becomes a lot less than a dollar when domiciled in Canada, but Canada is also liberal about its tax-residency requirement and one can spend 182 days a year in the country without incurring its income tax.
As an international investor, the ‘withholding’ tax on profits made is roughly one half of the tax a Canadian investor would likely face, or 25%, and Citizens International has a sister company in the Cayman Islands called the Preserve Fund in which these investments can be held, with no taxes on income, dividends, capital gains, or inheritance.
Based in the world’s fifth largest banking location and on a stable, democratic, and beautiful tropical island sitting off the coast of the Americas, the Preserve Fund also acts as a private wealth office for our invested clients.
With anchors into the most tax efficient and lifestyle attractive destinations in the western hemisphere, we are now moving back into Canada with a new enterprise and a new member to our business family. Stay tuned to this channel and we’ll be back to tell you about our love affair with this cool country and what that could mean to you.
For more information on routes to permanent residency in Canada, please contact us.