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Problems with Delayed move after soft landing

Discussion in 'Permanent Residence in Canada' started by arubix, Sep 27, 2019.

  1. Hello All,

    I have a slightly less common situation.

    I will have to do a soft landing next month and claim my PR, then move back to the US immediately & might take a year to 18 months (due to family reasons, finances, etc) to move to Canada permanently .

    I have a few questions , to try and avoid landing in some problem later. I'd appreciate your time taken in answering them or referring to some website or info out there.


    1) I understand I have to fill in GTF & declare all my personal belongings , finances, etc. that I will be bringing to Canada later so that I won't be taxed on those .
    I remember reading that the GTF(Goods to follow) form applies only for stuff & assets brought in to Canada within 12 months of the landing date.

    Is that Correct ?
    If that's the case, what would be the implications if I were to move 15-18 months after my landing date ?

    2) Also, when it comes to finances, did everyone just sell all their Non-Canadian assets (shares , property, bonds, etc.) soon after immigrating ? That seems unlikely to me . What was your experience in selling those assets or transferring money to Canadian bank accounts a few years after "landing" in Canada ?

    3) If you are undecided about which Province you will eventually live in , then is there any tax implications in landing in one province vs another , for soft landing ?
    I do not plan to land in Quebec . I do not have a Provincial nomination . But I want to understand if it's better to land in say Calgary as opposed to Vancouver .

    4) Do they not send physical SIN cards any more ?

    5) Is it possible to open a bank account the day of landing after getting a SIN but not having a permanent Canadian address ? Or did you guys end up giving the address of a friend/family ?

    Thanks !
     
  2. 1. Incorrect, there is no limitation. Many folks do it infact, going by postings on this forum. You complete goods to follow only when you plan to settle for a period of an year at least.
    2. It is a personal and country specific decision. Most folks retain their global assets unless they have to dispose them for personal reasons. You pay taxes on your global income and claim tax treaty benefits with other countries when applicable
    3. For most folks, which province to pick is usually determined not by taxes but by job opportunities, cost of living, etc. Other than Quebec, you can land anywhere and should not be an issue.
    4. No, there is just a number
    5. Yes, you can provide your copr for address proof which in turn can be temporary address
     
    northern sunshine likes this.

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