Canadians moving to the US MUST research the tax implications as well. i made the dreadful mistake of NOT doing this before filing for (and getting) my Green Card. THEN found out about all the capital gains taxes/exit taxes/deemed disposition of property etc. - IF you own property, or a corporation, or shares in a corporation, RRSPs, etc - there are some major tax implications if you become a non-resident of Canada and still have these holdings. VERY IMPORTANT to research this - I wish I had before getting Green Card - I would have thought twice about it. !!!
-- Fri Aug 07, 2009 1:31 pm --
Alive wrote:Hello Everyone! Newbie on the board.
Here is my little situation:
I am a Canadian working in US under
TN Visa for the 3rd year.
Now I would like to apply for USA PR, and what would be the less hassle approch for the application.
Thanks!
Newbie: Unless you are planning to marry an American and are prepared financially to switch your entire tax picture/bank accounts/etc over to the US, I would think carefully about this. If your job in US is secure and provides you with healthcare benefits etc maybe it would be best to have the security of US PR - but I personally am finding it much more hassle than it's worth. To be US PR you must totally give up all ties to Canada. You will start over in the US with your credit history etc. Any Canadian income you make will be subject to withholding taxes, any Canadian assets you have will be subject to capital gains taxes, there will be myriad, expensive forms to fill out - and the green card is a gamble. Definitely get a lawyer AND talk to a financial advisor about this before making any decisions. It's a major, major decision and the consequences, as I am finding out, are many. Make sure you arm yourself with as much knowledge as you can before leaping.
Good luck!!