cross border wealth management

1. Thinking About Moving to Canada? What You Need to Know Cardinal Point Wealth Management  & Cardinal Point Capital Management

2. Thinking About Moving to Canada? What You Need to Know Irrespective of where you stand politically, the circus currently playing out in the contest for the next President of the United States has a number of Americans— both Democrats and Republicans—looking at options that might include leaving the United States and moving to Canada. Indeed, by midnight of March 1—Super Tuesday in the United States—searches for “How to move to Canada” had spiked by 1,500%, according to Google Trends. For some, leaving the country might seem rather extreme. However, we get it! Cardinal Point Wealth Management & Cardinal Point Capital Management

3. Thinking About Moving to Canada? What You Need to Know At Cardinal Point, many of us have a stake in the direction of our political system in both Canada and the United States. And we are intimately aware of the unique immigration, ?nancial, tax, investment and estate-planning implications of becoming an American in Canada. We understand the immigration options and the challenges those decamping for the north might face. Before Americans hop into their cars, ?ll their gas tanks (in gallons) and make their way to Canada, they ?rst need to be aware that one can’t simply show up at the Canadian border and expect to live and work in Canada. Like the United States, Canada has a formal immigration process that must be adhered to. In order to live and work in Canada, you might be able to secure your immigration via one of a number of business and family categories. Canada’s family immigration laws differ from those of the United States. Notably, you cannot just marry a Canadian citizen and expect to automatically become a Canadian citizen. A formal process must be adhered to before a spouse of a Canadian citizen can live permanently in Canada and ultimately seek Canadian citizenship. http://www.cic.gc.ca/english/helpcentre/answer.asp?qnum=357&top=5 Cardinal Point Wealth Management & Cardinal Point Capital Management

4. Thinking About Moving to Canada? What You Need to Know If you are already employed in the United States, your occupation might qualify you for one of Canada’s Skilled Worker Entry programs. This would entitle you to a visa to live and work in Canada. And depending on your work or trade, you might be entitled to the new Express Entry application process. http://www.cic.gc.ca/english/immigrate/skilled/index.asp If you are self-employed in the United States, you might be able to qualify for business immigration to Canada under the Self–Employed Person program. If you have a speci?c occupation that ?ts into the Government of Canada’s Arts and Culture or Technical and Skilled Occupations in Art, Culture, Recreation and Sport, you might be able to immigrate to Canada under that program. Under the Provincial Nominee Program (PNP), Canadian provinces and territories are allowed to nominate persons who wish to immigrate to Canada and who are interested in settling in a particular province. Each Canadian province – except Quebec – have agreements with Citizenship and Immigration Canada (CIC) that have developed programs to welcome certain nominees to settle and work in the province and contribute to the community. http://www.cic.gc.ca/english/immigrate/provincial/index.asp Cardinal Point Wealth Management & Cardinal Point Capital Management

5. Thinking About Moving to Canada? What You Need to Know If you would like to start a business in Canada, you might be entitled to apply for the Start-up VISA. You would have to have a Letter of Support from a designated angel investor group, venture capital fund or business incubator. You must also meet speci?c ownership requirements in the business. Get scores of at least 5 in the Canadian Language Benchmark test in either English or French and ?nally meet suf?cient settlement funds based on the size of your family.   You also must be able to secure a minimum investment of $200,000 from a designated Canadian venture capital fund or $75,000 from a designated Canadian angel investor group. No investment is required if you are accepted into a Canadian business incubator program. http://www.cic.gc.ca/english/immigrate/business/start-up/eligibility.asp The immigration process is de?nitely the ?rst hurdle that you would have to overcome before entering Canada. It is a process and for some could be a rather costly one as well. Working with appropriate Canadian immigration counsel, the advisors at Cardinal Point are well-positioned to assist you in partnering with the right attorney through this process. But beyond the immigration hurdle, if you remain a U.S. citizen, you would still be considered a resident of the United States for income, gift and estate-tax purposes. So if you were hoping to avoid the tax policies of the previous and next administration, I’m afraid you’re out of luck. As a U.S. citizen, you would be required to continue to ?le U.S. income-tax returns on your worldwide income (even if that income is only now in and from Canada). And you would have to comply with a number of other foreign reporting and compliance requirements. Cardinal Point Wealth Management & Cardinal Point Capital Management

6. Thinking About Moving to Canada? What You Need to Know Furthermore, as a resident of Canada, you would also be subject to tax in Canada on your worldwide income, including any income that might continue to trickle in from the United States. Although both countries would have the right to tax you on your worldwide income, you would be entitled to apply foreign tax credits against the same source of income to help to reduce the perceived exposure to double taxation. However, without proper tax planning upon entering Canada, and without continued ongoing planning, you could ?nd yourself exposed to double taxation and a number of nasty tax surprises. Fortunately, we have the unique expertise to assist you so that you can enjoy the Canada-U.S. lifestyle. To that end, we would encourage you to request our Cardinal Point  White Paper: Manage your Canadian and U.S. cross-border lifestyle. This paper will provide you with additional insight into how a Cardinal Point  cross-border ?nancial advisor  can assist you with your unique cross- border ?nancial planning complexities. And if it does not make sense to move to Canada, bear in mind that our of?ces in the United States can provide you with comprehensive, U.S.-only wealth management services. Cardinal Point Wealth Management & Cardinal Point Capital Management

7. Thinking About Moving to Canada? What You Need to Know Need Help Managing Your Cross-Border Lifestyle? As an American residing in Canada, it’s important to make sure your ?nancial affairs are structured properly to avoid double taxation issues and ensure compliance with the laws of both countries. If you would like to discuss your cross-border ?nancial planning needs or request further information, please complete our contact form and a Cardinal Point representative will reach out to you. Request Consultation Copyright © 2018. Cardinal Point Wealth Management, LLC and Cardinal Point Capital Management Inc. All Rights Reserved. "Cardinal Point" is the brand under which the dedicated professionals within the independent Cardinal Point Group of Companies collaborate to provide financial and investment advisory, risk management, financial planning and tax services to selected clients. Cardinal Point comprises two legally separate companies: Cardinal Point Wealth Management, LLC, a U.S. registered investment advisor and Cardinal Point Capital Management Inc., a U.S. registered investment advisor and a registered portfolio manager in Canada. Advisory services are only offered to clients or prospective clients where the independent Cardinal Point firms and its representatives are properly licensed or exempt from licensure. Each firm enters into client engagements independently. This brochure is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. Legal and Compliance. Cardinal Point Wealth Management & Cardinal Point Capital Management