Canadian Retirees Visa
Anyone hear about the Canadian Retirees Visa lately?
Forum Discussion
The JOLT Act, or "Canadian Retiree Visa," hasn't run the gamut of committees as yet. Given how, um, tied into knots the Feds are, don't hold your breath...
....BTW: to meet the criteria, Canadians must be 55 years of age or older, and must have a signed lease or rental agreement for the duration of the extended 8 month "vacation stay". If you are a Canadian owning property in the US, you do not need a signed lease or rental agreement for the 8 months contiguous. No need to have to invest 500k in the US to qualify for the Canadian Retiree Visa whatsoever. A sub 40k home would suffice.
....the lease or rental agreement must be contiguous and unbroken, or if you're staying in 2 or 3 locales, cover the 8 month duration of the Canadian Retiree Visa application. Also, visa holder must not work or be employed IN the US --this includes working remotely for your Canadian employer via same-time connect or any other permutation thereof, or be actively managing your US rental property (Canadians who own rental property in the US absolutely are required to hire a rental management company to handle their properties; if you are caught even changing a light bulb in your commercial rental property and you are reported by a neighbor to INS, you will be deported-- game over).
...the waiting game: if its meant to be, it will be.
This IS a guarantee; however, look into the Canadian foreign tax credit carefully, and consult your Canadian/US Chartered Accountant/CPA firm to resolve your particular situation (ie. in retirement, retirees will have a substantially lower income for tax purposes, and may not hold a very high net worth/globally; should look into their foreign tax credit avenue when filling out Canadian tax returns/US tax returns).
S-
....BTW: to meet the criteria, Canadians must be 55 years of age or older, and must have a signed lease or rental agreement for the duration of the extended 8 month "vacation stay". If you are a Canadian owning property in the US, you do not need a signed lease or rental agreement for the 8 months contiguous. No need to have to invest 500k in the US to qualify for the Canadian Retiree Visa whatsoever. A sub 40k home would suffice.
....the lease or rental agreement must be contiguous and unbroken, or if you're staying in 2 or 3 locales, cover the 8 month duration of the Canadian Retiree Visa application. Also, visa holder must not work or be employed IN the US --this includes working remotely for your Canadian employer via same-time connect or any other permutation thereof, or be actively managing your US rental property (Canadians who own rental property in the US absolutely are required to hire a rental management company to handle their properties; if you are caught even changing a light bulb in your commercial rental property and you are reported by a neighbor to INS, you will be deported-- game over).
...the waiting game: if its meant to be, it will be.
The kicker for me would be that there is an extremely good chance that by staying that long you would become subject to US income tax law, and that would be a whole can of worms that no one wants to open...
This IS a guarantee; however, look into the Canadian foreign tax credit carefully, and consult your Canadian/US Chartered Accountant/CPA firm to resolve your particular situation (ie. in retirement, retirees will have a substantially lower income for tax purposes, and may not hold a very high net worth/globally; should look into their foreign tax credit avenue when filling out Canadian tax returns/US tax returns).
S-
