Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

A step-by-step guide for moving to Canada and becoming a citizen there

<ul class="summary-list"><li>I moved from the US to Canada for my husband's job and family.</li><li>Little did I know, that move would help me grow my family in ways I couldn't have foreseen.</li></ul>I met my <a target="_blank" class="" href="https://www.businessinsider.com/traditional-wife-made-first-move-husband-bible-belt-2024-10">future husband</a> in a coffee shop in New York City where I was on a blind date for a column I was writing for Jane Magazine.Sitting across from me was the cutest and sweetest Canadian I had ever seen. It wasn't long before we moved in together and <a target="_blank" class="" href="https://www.businessinsider.com/things-to-talk-about-before-getting-engaged-2021-10">got engaged</a>.His company was based in Toronto. Most of his family was also in Canada. So, after getting married, we decided to try <a target="_blank" class="" href="https://www.businessinsider.com/we-moved-to-canada-not-perfect-but-prefer-over-us-2024-11">living in Toronto</a> full-time and soon became serious about having kids.I gave birth to my firstborn, a boy, when I was 40 and spent the first few months on paid maternity leave. It wasn't until I went back to work a few months later that I noticed the <a target="_blank" class="" href="https://www.businessinsider.com/guides/health/how-to-check-for-breast-cancer">lump in my right breast</a>.<h2 id="c84de569-622b-40dc-8350-b4970d027820">Best cancer robbed me of giving birth, again</h2>Luckily, the breast cancer hadn't spread and was relatively easy to treat. But the treatments prevented me from being able to <a target="_blank" class="" href="https://www.businessinsider.com/workplace-fertility-benefits-employee-recruiting-retention-2024-8">carry another baby myself</a>.I looked at my almost 10-month-old son and knew I wanted to give him a sibling.My sister was my rock in life — especially as I navigated all the doctor's appointments and tests after my <a target="_blank" class="" href="https://www.businessinsider.com/my-breast-cancer-diagnosis-affected-my-sex-life-and-confidence-2024-11">cancer diagnosis</a> — and I wanted my child to have that same support in life.Adoption was an option. But I had also <a target="_blank" class="" href="https://www.businessinsider.com/woman-used-frozen-embryo-to-conceive-baby-20-years-later-2023-7">frozen my embryos</a> a few years prior as a backup plan in case my husband and I couldn't have kids. Those healthy embryos were at a fertility clinic just a few blocks away.My husband and I decided to try the <a target="_blank" class="" href="https://www.businessinsider.com/concurrent-surrogacy-people-paying-hundreds-of-thousands-to-have-twiblings-2024-7">surrogacy route</a>.<h2 id="02f8b858-2a9f-424f-9c63-55ff2d432f52">I could not have afforded surrogacy if I'd still lived in the US</h2><div type="image" title="young child with blonde hair in blue pajamas holding a newborn" height="3024" width="4032" msid="115420583" hostid="261" sizebytes="523976"></div>We knew very little about surrogacy in Canada. What we did know was that, unlike in the US, commercial surrogacy was illegal. In Canada, you could not pay anyone to carry your child.We explored <a target="_blank" class="" href="https://www.businessinsider.com/surrogate-paid-22500-and-30000-twice-said-experience-was-empowering-2024-6">options in the US</a> but didn't have upward of $100,000 to go that route.After Canadian surrogacy agencies yielded few prospects, we took to social media and shared our story in several surrogacy Facebook groups.Within days, we had a few responses and one very viable lead: a lovely woman in Quebec who had done this successfully once before and was excited to explore another surrogacy journey.Much like my <a target="_blank" class="" href="https://www.businessinsider.com/guides/health/sex-relationships/first-date-ideas">first date</a> with my now husband, I immediately connected with our potential surrogate upon our first meeting.We spent all day at a spa near her home, laughing and getting to know each other. I met her husband and their three amazing kids, and by the following day, we were discussing the next steps.<h2 id="81bbe14a-15b4-4347-9cfa-392d2e934b96">The surrogacy wasn't cheap</h2>We never paid our surrogate a flat fee for carrying our baby, but there were still pregnancy-related expenses that we were responsible for.To start, I paid for her lawyer and mine, as well as an additional lawyer in Quebec, as the law in the province stipulated I had to technically "<a target="_blank" class="" href="https://www.businessinsider.com/adoption-is-my-first-choice-for-motherhood-2022-1">adopt</a>" my <a target="_blank" class="" href="https://www.quebec.ca/en/famille-et-soutien-aux-personnes/grossesse-parentalite/grossesse-autrui/surrogacy-inside-quebec#c265524">own child</a>. These expenses, alone, amounted to about $8,000.Our surrogate also had to take leave from her job early due to health issues, and we were obligated through our contract to cover some of her salary.The lawyers also decided upon a monthly amount that was legally reimbursable for pregnancy-related expenses such as prenatal massages, physiotherapy, and travel expenses to and from doctor's appointments.Regardless, we were thrilled to be able to pay for it all. This woman was doing a remarkable thing for our family.Plus, even with all the expenses incurred from flights, lawyer fees, medications, and monthly expenses, the total was nowhere near what it would have been in the US.<h2 id="6e5c3c5a-197b-4cf5-9e26-61b8f1444822">We've kept in touch with our surrogate</h2>Our surrogate is the godmother of the baby she carried and one of my dearest friends.We even have birthdays within a day of each other and are currently making plans for a belated celebration, allowing ourselves some girl talk and Netflix binging.<a target="_blank" class="" href="https://www.businessinsider.com/more-young-women-getting-breast-cancer-two-potential-reasons-2024-10">Having breast cancer</a> was horrible, taking both my breasts and fertility from me. But <a target="_blank" class="" href="https://www.businessinsider.com/moving-to-canada-from-us-pros-cons-heathcare-home-prices">living in Canada</a> gave me the chance to grow our family, something we could've never afforded had we stayed in the US.Now our family is complete, and we are so grateful to both our surrogate and the country we live in for helping us make that happen.

I moved from the US to Canada for my husband. But living here is what helped me afford my second child.

<ul class="summary-list"><li>I've lived in Canada for over a decade, and though it's not perfect, I prefer it to the US.</li><li>I've had major surgery and dealt with long COVID for years and haven't paid a cent for healthcare.</li></ul>When my partner was offered a job in <a target="_blank" class="" href="https://www.businessinsider.com/why-toronto-best-city-quick-trip-things-to-do-skip-2024-10">Toronto</a> 13 years ago, we felt like we'd won the lottery.We were living in the Midwest, where people stared at us as if they'd never seen a multiracial couple before and <a target="_blank" href="https://www.businessinsider.com/cosmopolitan-jessica-pels-career-advice-how-to-get-dream-job-2020-4">Cosmopolitan magazine</a> was covered with black plastic in the supermarket because it was too racy.We'd long wanted to live somewhere more diverse and walkable, with less violence. Settling in downtown Toronto — where we could walk or take <a target="_blank" class="" href="https://www.businessinsider.com/canada-via-rail-vs-amtrak-business-class-review-photos-2022-8">public transportation</a> and over half of the population was born outside Canada — was like being in a smaller, cleaner version of New York City.Add on the promise of Canadian healthcare, and we were close to nirvana.After living for more than a decade in Canada, we've come to realize that the <a target="_blank" class="" href="https://www.businessinsider.com/moving-to-canada-from-us-pros-cons-heathcare-home-prices">country is far from perfect</a>. But there are many factors that make it unimaginable for me to live in the US again.<h2 id="a284571f-bca4-4fba-a6f4-d7f8b2efefe7">Canada's healthcare system isn't perfect, but I prefer it to the US's</h2>Canadian healthcare has its downsides.While the majority of care is free, people typically have to pay out of pocket for prescriptions, <a target="_blank" class="" href="https://www.businessinsider.com/why-americans-dont-exercise-mental-health-crisis-depression-anxiety-fitness-2024-6">mental-health</a> care, and dental and vision care, which can make these services inaccessible to many.Despite that, I can't envision living without <a target="_blank" class="" href="https://www.businessinsider.com/dr-adam-kay-americas-been-gaslit-about-socialized-medicine-2019-12">socialized medicine</a> again. I had a complicated pregnancy and an emergency C-section and I developed long COVID four years ago, but I've never paid a cent for healthcare here.When I lived in the US, I worked in public health in California, helping uninsured families access care. I saw firsthand <a target="_blank" class="" href="https://www.businessinsider.com/how-get-medical-bills-reduced-negotiate-challenge-payment-plan-2024-9">how medical debt could ruin people</a>.There was also a brief time when I was in my 20s, before the Affordable Care Act, when I <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-millennials-giving-up-medical-care-cant-afford-costs-2024-2">lived without health insurance</a> in California and was terrified of getting injured and ending up with a huge hospital bill.<h2 id="82b9efcc-e263-4015-b997-fc1d979a471a">Traveling in Canada can be more expensive, but we've found ways to manage</h2><div type="image" title="landscape of Canada's Laurentian Mountains" height="3840" width="5760" msid="115259769" hostid="261" sizebytes="1759662"></div>Because of <a target="_blank" href="https://nationalpost.com/news/canada/airlines-fees-canada">federal regulations</a>, domestic flights in Canada are often more expensive than flights to the US. However, we've found ways to manage by coordinating work trips and visiting friends.<a target="_blank" class="" href="https://www.businessinsider.com/beautiful-natural-wonders-2018-7">Canada's nature</a> is one of our favorite aspects of living here. We've vacationed across the country, but we have a special fondness for Québec's Laurentian Mountains and the forests of Ontario.We also spent months in the Yukon subarctic, where we glimpsed a grizzly bear, lynx, moose, scores of ravens, and wilderness more pristine than I thought possible.<h2 id="001263da-7c4c-4498-aabe-c1e9c7dbf46c">We love the diversity in Toronto, but we have experienced racism</h2>My husband and I found friends through community groups and parent-and-baby classes with other immigrant parents. Our friends are from all over, including Nigeria, Russia, Pakistan, Mexico, China, and Peru.Living in such a global environment is simply second nature for our Canadian-born child, who became trilingual in kindergarten in a public French school.However, immigrants and people of color aren't always treated kindly, despite Canada having had an official <a target="_blank" href="http://pier21.ca/research/immigration-history/canadian-multiculturalism-policy-1971">multiculturalism policy</a> since 1971.My Afro-Latino partner often laments the racism he's experienced in Canada, which has been more directly harmful to him than the racism he experienced in the United States.For example, he sold his bike after nearly being hit by drivers so many times, including one who told him to get off the road before calling him the N-word.When he does porch drop-offs of kids' items I've sold on Marketplace, he gets followed and questioned by people who act like he's a thief.And when we renewed his employer-sponsored work permit at the border a decade ago, an immigration official grilled him and said, "Couldn't they find a Canadian for the job?"In part because of those experiences, my husband has felt compelled to connect even more with different BIPOC communities in Canada.After we moved here, he found out about his Indigenous Caribbean ancestry through genetic testing, and it has become an extremely important part of our experience as a family to educate ourselves about Indigenous people's histories, lives, and teachings. We see it as one of our responsibilities as settlers.<h2 id="859b0674-9e41-4b48-abbc-f3eccee0cca8">I prefer living in Canada to the United States</h2><div type="image" title="Canadian flag with Toronto skyline in the background" height="3744" width="5616" msid="115259767" hostid="261" sizebytes="940328"></div>The longer I live here, the less I feel like I belong when I travel back to the US.My family inhabits multiple marginalized identities — queer, <a target="_blank" href="https://economichardship.org/2023/04/the-disabled-tax-means-i-pay-extra-for-necessities-constantly/">disabled</a>, immigrant, and BIPOC — that are under attack in the US. The ability to live and thrive outside the US, with free healthcare to boot, has long made me feel survivor's guilt for enjoying that stability.There are trade-offs to Canadian life: <a target="_blank" class="" href="https://www.businessinsider.com/canada-housing-crisis-bubble-imploding-real-estate-prices-rent-decline-2023-11">Astronomical housing costs</a> caused by foreign investment and government policy make me worry that when my child is an adult, they won't be able to afford rent, much less buy a home.I'm also disabled and cannot work full time. If I'm ever without my partner's financial support, I wouldn't qualify for or be able to live on my province's <a target="_blank" href="https://www.tvo.org/article/people-cant-live-on-dirt-disabled-ontarians-push-for-odsp-reform">paltry disability benefits</a>.In the end, it's a balancing act.I will forever follow events in American society and politics, even when I someday become a Canadian citizen. But for my family's safety and health, there's no going back.

My husband and I moved from the US to Canada 13 years ago. We love the free healthcare here and the great friends we made.

<ul class="summary-list"><li>Some Americans move to Canada in search of less polarized politics and reduced risk of gun violence.</li><li>Two people who moved said they faced long waiting lists for healthcare and still-high housing costs.</li></ul>Born in the South, Mahlena-Rae Johnson moved to Los Angeles after graduating from high school. She eventually found a partner and a community of people who made California feel like home.Johnson, a 42-year-old Black woman, said she felt a turning point when <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump">Donald Trump</a> beat Hillary Clinton in the 2016 US presidential election. She said she felt it laid bare profound political and ideological divisions within the nation, which resulted in a growing intolerance toward non-cisgendered Americans.In 2018, she and her partner <a target="_blank" class="" href="https://www.businessinsider.com/moving-to-canada-from-us-differences-pros-cons-guns-drugs-2023-12">relocated to Canada</a>, seeking what they perceived to be a more politically progressive and secure environment to raise their children."I watched videos of people who moved to Canada, and one man who had moved years ago said that he liked living in a place where he knew his country wasn't constantly at war," Johnson told Business Insider. "It is overall a place where I feel safer with my family."According to Google Trends, searches for "moving to Canada" tend to spike following polarizing events, such as the <a target="_blank" class="" href="https://trends.google.com/trends/explore?geo=US&amp;q=move%20to%20canada&amp;hl=en-US">presidential debate</a> between President Joe Biden and former president Trump on June 27. After that <a target="_blank" class="" href="https://www.businessinsider.com/what-happened-biden-trump-debate-takeaways-2024-6">disastrous debate</a>, Biden stepped aside, making way for Vice President <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris">Kamala Harris</a> to eventually become the Democratic nominee.Similar spikes have been observed during <a target="_blank" class="" href="https://trends.google.com/trends/explore?date=2016-11-01%202016-11-30&amp;geo=US&amp;q=move%20to%20canada&amp;hl=en-US">the 2016 presidential election,</a> the bitter <a target="_blank" class="" href="https://trends.google.com/trends/explore?date=2020-09-01%202020-10-31&amp;geo=US&amp;q=move%20to%20canada&amp;hl=en-US">debate between Trump and Biden</a> during the 2020 presidential election, and <a target="_blank" class="" href="https://trends.google.com/trends/explore?date=2022-06-01%202022-07-01&amp;geo=US&amp;q=move%20to%20canada&amp;hl=en-US">the Supreme Court's overturning of Roe v. Wade</a> in 2022. Searches for "moving to Canada" had already started to <a target="_blank" class="" href="https://trends.google.com/trends/explore?date=today%201-m&amp;geo=US&amp;q=move%20to%20canada&amp;hl=en-US">increase during the month</a> leading up to Election Day 2024, per Google Trends."Usually when there's an election cycle, or when people don't like who is elected, Americans in particular want to move to Canada," <a target="_blank" href="https://www.visaplace.com/">VisaPlace</a> CEO Michael Niren, an immigration lawyer with more than 25 years of experience in Canadian migration, told BI.A smaller number of Americans actually follow through on their internet dreams and make the move. According to <a target="_blank" href="https://open.canada.ca/data/en/dataset/f7e5498e-0ad8-4417-85c9-9b8aff9b9eda">immigration data from the Canadian government</a>, 93,095 Americans were granted permanent residency between 2015 and the end of the third quarter of 2024. The number of Americans granted permanent residence has increased almost every year. In 2015, 7,655 people got it; in 2023, 10,640 people did. 2021 saw the largest number: 11,955.Two Americans who recently moved to Canada told BI they did so to escape polarized and divisive politics, escape inadequate healthcare, and feel safer in their communities.While they said their overall quality of life had improved, they found the grass wasn't greener in every arena: There can be long waitlists for medical care, and it's very expensive to buy a home.<h2 id="8b3f63f9-a520-43d6-a1bc-b0b4a1463883">One mover said Canada's schools were better, but its free healthcare was still flawed</h2>Johnson, who primarily wanted to escape American politics, said she discovered some advantages of Canada's schooling system once her children enrolled.In LA, she said, "many of the schools are in trailers instead of actual buildings," but in Canada, "children can go to school and not worry about having a place that is safe or not being in an actual building."Johnson said she and her family had also enjoyed Canada's universal, <a target="_blank" href="https://www.commonwealthfund.org/international-health-policy-center/countries/canada">publicly funded healthcare system</a>, under which citizens and permanent residents get most medically necessary care and medications for free or at a very low cost.She added that there were some frustrations, including <a target="_blank" href="https://www.fraserinstitute.org/studies/waiting-your-turn-wait-times-for-health-care-in-canada-2022">lengthy waiting periods</a> for medical care. "During the pandemic, doctors couldn't see patients as regularly and non-emergency procedures were postponed, so there's a backlog," she said.Niren, who has lived in both the US and Canada, voiced similar concerns. He said his own mother, who needs a hip replacement, was on a waitlist for 18 months."There are people who have to fly to other countries — including the United States — to get cancer treatment because it takes too long," he said. "In the US, you can get a specialist appointment in two days."Niren also said Canadians paid elevated taxes to support such a comprehensive healthcare system."People call it free healthcare — it's not free," he said. "It's very expensive because you're paying through the taxes."<h2 id="8af511bd-4cef-4447-96f8-e2383dcbf3f4">An American found relief from the US's violence and opioid crises in Canada</h2>Chris Ouellet, 40, left Portland, Oregon, for Victoria, British Columbia, in 2020. It wasn't his first-choice destination, he said, but he ended up finding the peace and safety he was looking for.He and his partner had planned to move to <a target="_blank" href="https://www.businessinsider.com/americans-moving-to-new-zealand-california-nature-quality-of-life-2023-8">Wellington, New Zealand</a>, but were unable to because of pandemic border lockdowns. A lot of the characteristics Ouellet was looking for in New Zealand, he said, he found in British Columbia."We love the Pacific Northwest, and Canada is not far up the road," Ouellet told BI. "It's very similar weather, and they have a lot of the things that we wanted and what we were looking for in New Zealand, which was a lower cost of education, socialized healthcare, and politics that weren't so incredibly polarizing."Ouellet, who works for the provincial government at the Ministry of Health in British Columbia, spoke glowingly of Portland but did point out the "pretty bad" violence and opioid crises he witnessed in the US overall. Before Portland, he and his partner lived in Chicago. The violence they would read about or see on their daily commutes prompted them to move west and eventually out of the country altogether, he said.He hasn't had the same worries in Canada."In British Columbia, the regulations for being able to own a gun are extremely tight," he said. "When you're out in public, and you hear a noise, no one runs, no one checks over their shoulder, no one thinks that it could possibly be gun violence."He added that there was still an opioid crisis in British Columbia, but it wasn't as striking as it is in Portland. Ouellet said that in the three years he'd lived in British Columbia, he'd seen one syringe on the ground, compared with Portland, where he saw dozens a day.Ouellet said he had no regrets about moving to British Columbia, but <a target="_blank" href="https://www.businessinsider.com/canada-housing-crisis-bubble-imploding-real-estate-prices-rent-decline-2023-11">Canada's housing crisis</a> have so far sidelined his dreams of homeownership."The house that we had in Portland was three bedrooms, 2 ½ baths. It was about 1,800 square feet, and we bought it for $265,000. You can't find a place for that price here," he said. "Most condos are around $500,000 to $900,000. Single-family homes are almost a million."As Niren said, "Canada is one of the greatest countries in the world, but it's no utopia."This story was originally published on December 5, 2023, and was updated on November 5, 2024.Are you an American who moved to Canada? We want to hear from you. Reach out to the reporters, Alcynna Lloyd at <a target="_blank" href="mailto:alloyd@businessinsider.com">alloyd@businessinsider.com</a> and Jordan Pandy at <a target="_blank" href="mailto:jpandy@businessinsider.com">jpandy@businessinsider.com</a>, with your story.

Some Americans think moving to Canada will solve all their problems. But Canada has its own issues.

In an unusual development, a teenager in British Columbia has become the first person in <keyword id="19896882" type="General" weightage="20" keywordseo="canada" source="keywords">Canada</keyword> to test positive for <keyword id="95867" type="General" weightage="20" keywordseo="bird-flu" source="Orion">bird flu</keyword>, the provincial health department announced. The youth is currently receiving treatment in a children's hospital for the <keyword id="23932297" type="General" weightage="20" keywordseo="H5-avian-influenza" source="keywords">H5 avian influenza</keyword> strain, with the source of infection and potential contacts under active investigation. According to British Columbia Health Officer Dr Bonnie Henry, the infection likely came from an animal source. "This is a rare event," she noted. "We are conducting a thorough investigation to fully understand the source of exposure here in BC." <div type="Article" hostid="261" msid="109603354" title="Bird flu could jump to humans any day. A former surgeon general says it feels like 2020 again." mstype="2" mssubtype="0"></div>Bird flu, most commonly found in wild birds and poultry, can sometimes infect humans through close contact or contaminated environments. Scientists have voiced growing concerns as avian flu has recently been detected in mammals, and a recent outbreak in US cattle has added to fears. Although human infections remain rare, experts worry that an increased rate of transmission could eventually lead to a virus mutation that allows human-to-human spread. The Canadian case comes shortly after another unusual incident in the United States, where a person in Missouri tested positive for bird flu without any known exposure to infected animals. While cases among farmworkers are known, these isolated incidents without clear animal sources add to the need for vigilance. Despite the isolated cases, there has been no evidence of sustained human-to-human transmission of bird flu to date, which would otherwise signify a more serious public health risk. For now, health authorities in Canada are closely monitoring the situation to prevent further spread. <div type="Article" hostid="261" msid="114819490" title="Bird flu was detected in a pig, and it could be a tipping point threatening more human transmission" mstype="2" mssubtype="0"></div>

Bird flu alert in Canada as teen tests positive; officials launch investigation

<ul class="summary-list"><li>Interest in moving to Canada has spiked among Americans after the election.</li><li>Beyond the physical move, there are financial considerations that potential movers should know of.</li></ul>The result of the 2024 elections left about half of the US displeased. As Donald Trump prepared to return to the White House, many Americans began considering a move up north, according to <a target="_blank" href="https://trends.google.com/trends/explore?date=today%201-m&amp;geo=US&amp;q=moving%20to%20canada&amp;hl=en-US">Google search traffic</a> at least.Interest in <a target="_blank" class="" href="https://www.businessinsider.com/we-moved-to-canada-not-perfect-but-prefer-over-us-2024-11">moving to Canada</a> tends to spike after big political events such as the <a target="_blank" href="https://trends.google.com/trends/explore?date=2016-11-01%202016-11-30&amp;geo=US&amp;q=moving%20to%20canada&amp;hl=en-US">2016 election</a> and the <a target="_blank" href="https://trends.google.com/trends/explore?date=2022-06-01%202022-06-30&amp;geo=US&amp;q=moving%20to%20canada&amp;hl=en-US">overturning of the Roe v. Wade</a> Supreme Court ruling.This phenomenon doesn't just live on the internet, either — some US residents are seriously considering the move."Even when Trump was elected last time, a lot of people felt that they weren't as comfortable staying in the States, and so we actually did see an influx of people moving to Canada," said Tiffany Woodfield, a senior financial advisor at SWAN Wealth Management of Raymond James.Moving, especially across borders, is a big decision and shouldn't be taken lightly. While the physical act of moving is complicated enough, Woodfield points out that there are a lot of financial considerations to be aware of."I think sometimes it can be a knee-jerk reaction," Woodfield said of <a target="_blank" class="" href="https://www.businessinsider.com/we-moved-to-canada-not-perfect-but-prefer-over-us-2024-11">moving to Canada</a>. "If they don't plan ahead of time, they can fall into traps that end up costing them money."<h2 id="c4feab40-7084-4563-951b-72a890ad2b58">You need to file US and Canadian taxes</h2>US citizens residing in Canada might not realize that even on the other side of the border, they're still not free from their tax obligations to Uncle Sam.If you are a US citizen, you still need to file federal US taxes and report your worldwide income to the IRS no matter where you live. In Canada, taxes are based on your residency status, so if you spend more than 183 days of the year living in Canada, you owe the Canadian government taxes.To prevent ex-pats from getting taxed twice on their income, the US and Canada have a tax treaty that provides a foreign income tax credit for any income tax paid to the other country, Woodfield explained. That means you can offset your US tax liability with taxes already paid to Canada, but you still need to file two separate tax returns — one to Canada and one to the US — to receive a tax credit.Additionally, the promise of free healthcare in Canada might sound enticing, but that does come at the cost of higher taxes, so be aware that your Canadian tax bill will probably be higher than what you paid in the US. You also don't have the option to file joint income tax returns with your spouse in Canada, Woodfield warned.<h2 id="7d31b42f-84db-43c3-b2f8-4f871c9958bf">Some Canadian investments have complicated tax implications</h2>"As a US person living in Canada, you don't want to invest in Canadian mutual funds or Canadian ETFs," Woodfield said. That's because these investments are considered Passive Foreign Income Corporations (PFIC) by the US government.PFICs are subject to unfavorable tax treatment from the IRS. The associated tax forms are lengthy and complicated, and you may end up paying high tax rates. If you're still a US citizen, investing in a Canadian mutual fund or ETF simply isn't worth the hassle.<h2 id="0333acc5-88aa-436b-bf74-7cb1b79b71b0">Bringing your retirement plan over the border can be tricky.</h2>401(k)s are a popular way to save for retirement here in the US, but Canadian employers offer a different type of retirement plan: the Registered Retirement Savings Plan (RRSP).Once you move to Canada, you won't be able to actively manage the holdings in your 401(k), according to Woodfield. One workaround is to roll your 401(k) to an IRA and have it managed in Canada. US citizens should also be aware that, in most cases, they won't be able to contribute to their IRA once they move to Canada.Another option is to transfer your US retirement account into an RRSP. However, if you choose this step, make sure you're committed to moving to Canada permanently, as you cannot move RRSPs to IRAs, Woodfield said.You may not be able to bring your brokerage accounts over the border, either. Some people don't realize this until they update their address with their US brokerage account after moving and receive a letter informing them that they have to close out their account.<h2 id="2d468c1f-efc0-45a8-9a7c-53c03c550ff1">You'll need a new financial advisor…and a lot of time</h2>US financial advisors are prohibited by law from providing Canadian residents with financial advice, as they aren't licensed in Canada. If you want expert advice, you need to work with a dual Canada / US licensed advisor.The earlier you start preparing for your cross-border move, the better — ideally, one to two tax years before moving, Woodfield said. That way, you can plan certain taxable events ahead of time and realize the greatest amount of savings, such as liquidating mutual funds. It's also easier to sell your home while you're still in the US, Woodfield said.If you've already begun the moving process or you're already in Canada, don't panic. Woodfield has worked with plenty of people after they've already moved, but the more time you give yourself, the better.Moving across the border is no simple feat, so make sure you're confident about your choice."I've had clients that have moved, and then after the fact, they think, 'Oh, I shouldn't have done this,'" Woodfield said."It's very hard to go back, so people need to be aware of that."

Americans moving to Canada should be aware of these 4 tax and investment implications

<ul class="summary-list"><li>Shopify's stock popped 25% on Tuesday after reporting strong revenue and a promising holiday outlook.</li><li>The gains added fuel to Canada's stock rally, helping the market touch record highs. </li></ul>Shopify shares soared Tuesday, lifting Canda's benchmark stock index. Shares of the e-commerce firm popped as much as 25% after reporting revenue that beat estimates and giving strong guidance for the holiday season.With the heaviest weighting on Canada's benchmark index, Shopify's gains pushed the S&amp;P/TSX Composite Index up as much as 1% on Tuesday to touch nearly 25,025, marking the first time the index has crossed the 25,000 threshold.The company, which builds software to power online storefronts, reported earnings per share of $0.35, beating forecasts of $0.26 according to LSEG estimates. Revenue, meanwhile, came in at $2.16 billion versus estimates of $2.12 billion.Going forward, the company says it expects revenue growth in the mid- to high-twenties percentage for the present quarter, above forecasts of around 23% according to FactSet. The strong outlook shows optimism around spending in the upcoming holiday season.Shopify president Harley Finkelstein said the company's strong beat shows it's gaining market share among e-commerce companies. He said the company has attracted an increasing number of key retailers like Reebok, Hanes, and Vera Bradley."Shopify is increasingly the go-to platform of choice, not just for entrepreneurship, but for all of commerce. We are well positioned for extensive growth across different merchant segments, size, geographies, channels and products," Finkelstein said on a call with investors.The company is also making headway in <a target="_blank" class="" href="https://www.businessinsider.com/shopify-ai-use-boosts-efficiency-shakes-up-staff-structure-2024-5">incorporating new technology</a>, launching an AI assistant and AI-powered tools for merchants.Analysts from Citi said they have a bullish outlook for the stock, citing a large addressable market, secular tailwinds, and large-scale growth.The latest earnings add fuel to what has already been a hot streak for Shopify stock, which is up over 43% this year. Canada's benchmark index has soared over 19% in 2024.

You Searched For "canada" and got 7 results

A step-by-step guide for moving to Canada and becoming a citizen there

Marguerite Ward,Sarah Al-Arsh…

I moved from the US to Canada for my husband. But living here is what helped me afford my second child.

Sarah DiMuro

My husband and I moved from the US to Canada 13 years ago. We love the free healthcare here and the great friends we made.

Lygia Navarro

Some Americans think moving to Canada will solve all their problems. But Canada has its own issues.

Alcynna Lloyd,Jordan Pandy

Bird flu alert in Canada as teen tests positive; officials launch investigation

BI India Bureau

Americans moving to Canada should be aware of these 4 tax and investment implications

Christine Ji

Shopify's 25% gain sends Canada's benchmark stock index to all-time highs

Kelly Cloonan

Popular Keywords

Buying Guides