7 months of cold and getting overworkered, canadians don't have time to meet significant others. Gf from asia is cost effective
FSW WORLDWIDE
- Thread starter js555
- Start date
So my primary goals of coming to Canada was to first, get the passport, then down the line get a home and use it for my retirement while I live and work away from Canada for the rest of my productive life.
Now I see Canadians fleeing this country for retirement to places like Portugal, Thailand, etc and stuff just getting ridiculous day by day here.
I think I mighttt no longer need that Canadian passport for the reasons I wanted it in the first place. Why get the added burden that comes with it. Why not just skip and see where I can figure out a retirement house purchase in low COL country right away by using my Indian passport.
There are ways (legal) to retain the PR for at least 10 or 15 years for me..unless they change the law of course.
Edit: before someone maybe suggests retiring in India, without getting into reasons, that is not happening. I want to retire in a generally peaceful and good-ish air quality country.
Now I see Canadians fleeing this country for retirement to places like Portugal, Thailand, etc and stuff just getting ridiculous day by day here.
I think I mighttt no longer need that Canadian passport for the reasons I wanted it in the first place. Why get the added burden that comes with it. Why not just skip and see where I can figure out a retirement house purchase in low COL country right away by using my Indian passport.
There are ways (legal) to retain the PR for at least 10 or 15 years for me..unless they change the law of course.
Edit: before someone maybe suggests retiring in India, without getting into reasons, that is not happening. I want to retire in a generally peaceful and good-ish air quality country.
Last edited:
Ahh Well the obvious stuff.. Affordability, insane medical wait which people near retirement age don't do well with, and not having multiple properties. That's the biggest one for some people, they want to sell their one or two properties, collect the cash and get out to preserve their savings or decrease their expenses.
Mexico and Thailand is what I keep hearing the most.
Maybe India can start a retirement destination program with similar quality of life like Canada in a new or remote city, keep the low COL compared to Canada and attract new kinds of tourists. India certainly has the private medical infrastructure to support this.
To achieve what you want, get a remote job, pay taxes in Canada, but use LCOL of India/home country. Spend two years outside of Canada and save everything up. In LCOL of India/home country you can expect yourself to spend as little as 5-10% of what you earn. Come back with two years(to ensure PR obligations) worth of saving. While you are at it, grind a little and get multiple jobs. You can easily save >$60k. Spend 6 more months in Canada, get your credit scores up again. Make a 10% downpayment or 20% downpayment or whatever you can and break out of this loop that you are afraid of being stuck in forever.
You just need to figure out if you can go remote and make career transitions to support it. Everything else follows.
This is a suggestion unique to your problem. I know enough to say what you need to do. But to anyone here who is staring at their screens with no answers, try to focus on the right stuff. Not everyone will land in GTA/GVA and be able to buy a home. There's always enough amount of fodder in the form of immigrants like me to take over bankruptcies/keep demand for housing.
There are solutions. They won't look super classy or extremely idealistc, but they do the trick.
@iSaidGoodDay
I have a similar plan. Timing is a little fluid though and I spoke to a lawyer who says I can meet the pr obligations too without being here (but it can be tricky as a wife and kids come into perspective).
Will update here on what I do.
Agree with you, gta/GVA pricing is pretty impossible to crash. It'll correct maybe, yeah, but very likely never crash.
I kinda don't want to buy real estate in Canada at all actually, don't wanna be a part of this racket, even though I can and my family is more than willing to help me out with the down-payment... because my reasons of wanting to retire here have fundamentally changed/are changing. Basically Canada is becoming pointless for me.
Maybe a condo in winnipeg just for the heck of it if the price is right, with a 40-50%+ down payment. Maybe.
I have a similar plan. Timing is a little fluid though and I spoke to a lawyer who says I can meet the pr obligations too without being here (but it can be tricky as a wife and kids come into perspective).
Will update here on what I do.
Agree with you, gta/GVA pricing is pretty impossible to crash. It'll correct maybe, yeah, but very likely never crash.
I kinda don't want to buy real estate in Canada at all actually, don't wanna be a part of this racket, even though I can and my family is more than willing to help me out with the down-payment... because my reasons of wanting to retire here have fundamentally changed/are changing. Basically Canada is becoming pointless for me.
Maybe a condo in winnipeg just for the heck of it if the price is right, with a 40-50%+ down payment. Maybe.
Which area in Ontario is cheapest in terms of purchasing an apartment/condo and how much would it cost. You all seem pretty knowledgeable, please guide. TIA.
LOL I am not knowledgeable at all! Only been here 6 months.
Jokes aside, I am using my common sense and rationale to decide what fits my individual lifestyle the best. Might not be the best solution for everyone like iSaidGoodDay says.
There are very very knowledgeable folks on here though. @GandiBaat was able to buy his place 40% below asking just some months ago.
A general fact is that Ontario and Southern Ontario is one of the most expensive and most inflated housing bubble in Canada (and in the world.) However this bubble is a strong one so it might not burst anytime soon so you might be out of luck here.
Either way, wait for fall/winter to come by before buying, that's when housing is historically the cheapest. Also cheap/cheapest are misnomers in Canada. There's insanely expensive and expensive. No in between and definitely no cheap.
I mentioned winnipeg because nobody wants to go there and that's fine by me.
Ah, okay. I am unsure about meeting PR obligations without being there, but if you spoke to a lawyer then there should be something.
Basically, more cashflow = more clarity of thoughts - hard to think straight when all you can think about is food and shelter. Let's say you decide that Canada isn't going to work out for you, you can still save $150k-250k over the years to move as an investor in other countries (e.g. Malta). That way, you won't lose in anyway. You'll keep making best of every situation.
Probably something like having a Canadian spouse or working for a Canadian org/business overseas?
It's very very very risky and IRCC does not take kindly to people who try it, so I'm not saying its advisable.. But it can be done.
Here's one way to do it according to my lawyer: delay apply apply wife's PR and do it towards the end of my pr obligation. So when my pr expires, my wife can sponsor me in. This is legal and fairly easy to do.
Yes, in the end even if I lose the PR status and make more money elsewhere, it should be fine in the long run. I'll have kids here in Canada though.
Saving that much money is not impossible for me, but knowing what I know I can likely only do it outside Canada. And I'm inclining heavily towards that because here I am worried about food and shelter but more than that... Its the time that I feel I am losing by being inside Canada that hurts me the most.
I thought that PR cards could just simply be renewed when they are going to expire.
Isn't it why you are called a permanent resident? because its permanent
Well, I
In order to renew your pr card, you need to have met the residency obligation of spending 730 days inside Canada.
If you fail to do so, IRCC will make you leave the country and your pr status will be cancelled.
Also I didn't plan to want to leave so quickly lol
I knew I would have to spend 1095 days for the passport but that's look very difficult for me as of now.
Well, I found out quite late that there's a huge catch to this seemingly "PERMANENT" residence status.
In order to renew your pr card, you need to have met the residency obligation of spending 730 days inside Canada.
If you fail to do so, IRCC will make you leave the country and your pr status will be cancelled.
Also I didn't plan to want to leave so quickly lol
I knew I would have to spend 1095 days for the passport but that's look very difficult for me as of now.
Congratulations to you and your hubby.
I'm happy to hear another success story cos I was beginning to think I just massively lucked out
. My life(and family's life) is so much better since moving here, and we thought we had it good before. My DH and I have great jobs with combined annual gross of $285k (this is a big deal living and working in SK ) and 30th of June will make it 1 year since we moved into our own house.We sacrificed a lot over the years and took a huge gamble leaving the known behind for the unknown, but everything worked out for us
I thank my stars everyday that I decided against ON and BC to live in, right from the start.