Dual citizen (US/CDN) moving back to Canada from US only for a few years

[FrancoisInDenver]

Both my wife and I have dual (US/CDN) citizenship. We are currently US residents but spending time in both countries. We have a house in both countries but keep our permanent residency in the US. We might need to spend more time in Canada and become Canadian residents for a few years.

Here are some of the questions we have for the period we are planning to be in Canada:

• Will we be able to benefit from the Canadian healthcare?
• Can we keep our cars plates and car insurance based in the US (we would still have our house in the US for this period) but would be using our vehicles while in Canada?
• Can we keep our financial assets in the US and access them as needed while being resident of Canada?
• I think we would need to file taxes in both countries, is this right?

 

[foodie69]

Both my wife and I have dual (US/CDN) citizenship. We are currently US residents but spending time in both countries. We have a house in both countries but keep our permanent residency in the US. We might need to spend more time in Canada and become Canadian residents for a few years.

Here are some of the questions we have for the period we are planning to be in Canada:

• Will we be able to benefit from the Canadian healthcare?
• Can we keep our cars plates and car insurance based in the US (we would still have our house in the US for this period) but would be using our vehicles while in Canada?
• Can we keep our financial assets in the US and access them as needed while being resident of Canada?
• I think we would need to file taxes in both countries, is this right?

To clarify, with residents you mean persons that live and pay taxes in the US as well as Canada for whatever long. You are citizens of both countries, because residents and citizens are not the same from a law point of view.

 

[FrancoisInDenver]

Agree, I do make a distinction between citizenship and residency. As of now, we are US resident based on the following criteria:
1) we spend more than 6 months per year in the US
2) we work and pay taxes in the US
3) we have our main residence in the US
Moving forward and only for two or three years, we would like to change our residency by:
1) spending more than 6 months per year in Canada
2) no longer working in the US
3) using Canadian social benefits
4) paying Canadian taxes

I am sure I am forgetting things, but this is a start ...
Thank you

 

[foodie69]

Agree, I do make a distinction between citizenship and residency. As of now, we are US resident based on the following criteria:
1) we spend more than 6 months per year in the US
2) we work and pay taxes in the US
3) we have our main residence in the US
Moving forward and only for two or three years, we would like to change our residency by:
1) spending more than 6 months per year in Canada
2) no longer working in the US
3) using Canadian social benefits
4) paying Canadian taxes

I am sure I am forgetting things, but this is a start ...
Thank you

Ok. I don't see any issues, except point 3, social benefits. There are usually wait times to follow until you qualify.

 

[FrancoisInDenver]

Thank you for your help.