To PMM and Leon - Post PR Question

[gd]

Hi PMM/Leon,

Appreciate if you could answer my Q.

I completed my 1st landing in August, stayed in Canada for a month and returned in september to where I work. While in Canada I opened a bank account with HSBC.

Within the next 3 years, my family (Wife and two sons aged 18 and 20) will relocate to Canada to fulfil the 730 days requirement to maintain the PR.
My current intention is to remain where I am and therefore will lose my PR.

1) Can my family sponsor me in a later date? If yes, do I have to apply for a new PR?

2) My intention is to transfer some money every month to the Canadian bank account I opened, to build up a sizeable amount for my family's use when they relocate. Am I legally entitled to transfer monies to my account while staying outside Canada?

3) If I am able to transfer monies, monthly, is there any limit which I should not cross in order to not get into tax issues?

I appreciate for your advise.

[Leon]

1. If your family stays in Canada, they will keep their PR's, even be able to apply for citizenship.  You will lose your PR once you have been outside Canada for more than 1095 days since you landed although CIC may not realize that, you may still be able to travel back and forth on your PR card but you would not be able to renew it.  At that point, you can give up your PR as in saying, ok, I know I have lost my PR due to not meeting the residency requirements and your wife can sponsor you back, as long as she is at that point living in Canada and her PR status is not in question.  They do however give you a PR to go live in Canada and not somewhere else so if you just spent the last 5 years losing your PR because of your unwillingness to live in Canada, they might put a question mark on why your wife is sponsoring you for PR again if you are not planning on moving.

2. As far as I know, you can transfer as much money as you want.  You should ask your bank about that as well as the tax issues, that is the bank in Canada as you open an account.

[gd]

Thanks Leon!