Business Immigration Lawyer
If you are considering moving your business or starting a new business in Canada, it is wise to seek the advice and guidance of a skilled law firm. We can help you understand the rules, regulations and timelines you are facing in immigrating to Canada.
At Wiebe Douvelos Wittmann, we have more than 40 combined years of experience as Vancouver business immigration lawyers. Our clients rely on our knowledge of the law and attention to detail.
In order to support the growing Canadian economy, the government encourages experienced business people to immigrate to Canada. There are three classes under which you can immigrate as a business immigrant:
- Investors
- Entrepreneurs
- Self employed
The criteria you must meet in order to qualify are different for each class. Each application can be made for only one class and cannot be changed once the application is submitted, without delaying the immigration process. Our lawyers can guide you through the process and ensure you meet the specific criteria.
Immigration Trusts
Another aspect of business immigration in which our firm's immigration lawyers have a significant competitive advantage is the field of immigration trust for business immigrants. Our immigration lawyers can also advise you on the tax implications of immigrating to Canada.
Canadian residents must pay Canadian income tax on their worldwide income. However, individuals immigrating to Canada can now establish a non-resident trust for the benefit of themselves and their families within a small window of opportunity of landing in Canada. The assets in a non-resident trust can earn income and capital gains from foreign sources free of Canadian income tax for up to the first five years of an immigrant's Canadian residency.
A trust is a separate legal entity. It is created when a person (the settlor) transfers trust assets to the trustees. The trustees are responsible for managing the assets in accordance with the trust document for the benefit of the beneficiaries of the trust.
An immigration trust is settled by the individual who is moving to Canada. These trusts are set up in jurisdictions that have no income tax, are politically stable and have the appropriate infrastructure and trust laws.
This is a substantial benefit. Without the establishment of such a trust, the immigrant, once a Canadian resident, would have to pay Canadian tax on all income and capital gains earned on the assets. Depending on the amount of assets transferred to the trust, the Canadian tax savings over the five-year exemption period could be significant.
All individuals moving to Canada should consider using immigration trusts. However, because of the costs of setting up and administering the trust, it will generally only be beneficial for immigrants who have in excess of $1 million in assets that they can leave offshore.
Our lawyers will guide you through the intricacies of this important tax-saving vehicle for eligible business immigrants.
Contact Our Firm
Contact Wiebe Douvelos Wittmann LLP by phoning or by completing the contact form on this site. Our lawyers are available by appointment. We offer services in English, French, German, Greek, Italian, Afrikaans and Farsi.
