Donald Trump proved his critics wrong, yet again, bulldozing right through the political elopement of his opponents: Kasich and Cruz (who would have thought Republicans openly swing that way); and delivered a victory across 5 states in the primaries: Pennsylvania, Connecticut, Maryland, Rhode Island and Delaware.
Do we hear Trump and President?
Do you say I want to emigrate? Not because of the Kasich and Cruz fling, of course. We get it 😉 No shame in that.
You’re not alone. With Trump’s rise from humorous side-show to serious candidate has come a surge in search results on “how to move to Canada”.
Sorry Americans, it’s not that easy anymore.
Getting the hell outta dodge is just not what it used to be. You can’t just cross the border to Canada and live under the radar happily ever after.
There is paperwork, fees to paid and much time to be spent waiting in line before your residency application can be approved. Standard stuff.
Complications getting here aside, your biggest problem may just well be taxation. The U.S. Government taxes you on worldwide income. That’s the real problem. Not only will your beloved new homeland tax your labor, but Uncle Sam will stretch his mighty hand for his fair share, as well. Sorry! You may end up paying the income tax twice.
In the good old days, the Government did not enforce the rule to the full extent of the law. However, with many levels of government facing bankruptcy or already gone bankrupt, such as: local (Detroit), state (Illinois), federal (Puerto Rico) to name a few; expect that the government will no longer be so forgiving.
Did we mention the Social Security is going under water soon? Someone has to pay for all that and it’s you.
Thanks to technology leaps and bounds, you’re much easier to track. Thanks to FATCA it is a lot easier to track your financial activity abroad.
You may not even be able to open a bank account in some foreign country, since foreign banks would have to automatically comply with U.S. laws, if they deal with the U.S. citizens. Most of them chose not to for that reason. Why go through the trouble?
One solution to win with the man is to renounce your citizenship. The numbers are on the rise as more and more people are doing so.
Before you can renounce your citizenship, however, you must become a citizen of another country. That takes years. In case of Canada, at least 4 years.
But what if you are a US citizen who has been living in Canada all your life. Let’s say one of your parents is a US citizen or you were born in the States. Well, you are on the hook for taxes, as well, and you may not even know about it. The major of London, Boris Johnson, found out the hard way. Oops!
Think twice. Trump as President may not be so bad as all that. After all, he has substantial prior bankruptcy experience (4 of his businesses have filed for Chapter 11 bankruptcy). That may come handy. Who amongst the current crop of career politicians can claim that?
No, you say? After reading all of this, you still want to become a Canadian and live in a low-carbon footprint igloo. Don’t worry, we have just the right immigration lawyers, tax lawyers, and real estate lawyers for you.
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