View Single Post
Old 09-07-2017, 01:20 PM   #6
opendoor
Franchise Player
 
Join Date: Apr 2007
Exp:
Default

You can't really be a resident of two countries at once. In order to establish US residency, you generally need to cut ties with Canada and spend at least 183 days of the year in the US. If you spend at least half the year in Canada, it's not going to work even if you do have a residence and bank account in the US. You'll still be deemed to be a Canadian resident.

If you are going to spend 183+ days in the US then it's possible to become a US resident, but that generally involves cutting most of your ties with Canada. If you still plan on owning a house in Canada and returning every week, then it's possible that you'll still be considered a resident of Canada even if you spend less than half the year here. And if you do manage to cut ties, it's worth noting what that means. You'd have no health coverage (i.e. you'd need private health insurance every time you returned to Canada) and you have to pay a so-called "departure tax" where you have a deemed disposition of all of your assets. Any capital gains that result from that deemed disposition must be paid even if the assets are not actually sold.
opendoor is offline   Reply With Quote