Need advice on self employment and L-2

Hello,

My wife's company wants to transfer her to the US on a L-1A Visa. Apparently, I can work there on an L-2 except I own my own a management recruiting business here in Canada. I am the only employee and it's home based where over 90% of my business is in the US with US companies for the past 9 years. It's a niche oriented business and all my work is done by phone and email. We are planning to sell our house and buy in the US as well.

I have many questions around this:

Should I close my Canadian Corporation and open a company in the US? Can I do that? What are the implications?

If it's possible can I do that on an L-2 or do I have to apply for some other type of visa?

What are the tax benefits\disadvantages in this scenario?

If after 5 years, we decide to move back to Canada. Will we be taxed on our savings when it's transferred back into a Canadian Bank?

Thanks for all your help. I'm at a total loss in developing a strategy to move to the US to further my wife's career but also keep mine.

Regards,
OK

You are allowed to do what you want with an L2 EAD, so I would be moving whatever I could out of Canada. This will break Cdn taxation altogether.

There is no transfer tax. If you are taxable (or not) anywhere, moving money from one place to the other (or not) doesn't trigger or avoid taxation