So, You Wanna Be a Canadian? Since the signing of the Immigration Act, 1976 into legislation almost 50 years ago, Canada has become a world leader in welcoming new migrants from across the globe. The Act was the first piece of legislation to clearly outline Canadian immigration policies and objectives, which ultimately removed broad discretionary powers over admissibility and deportation. According to Immigration, Refugees and Citizenship Canada’s (“IRCC”) database, Canada has welcomed over 1.2 million new Canadian Citizens within the last five years. We are a growing nation, and internationa ..read more

The weeks and months leading up to June 15 are typically referred to as tax season for the more than eight million US citizens living abroad. This time of year can also feel a lot like Groundhog Day. That’s because US expats are reminded yearly of the cost of maintaining their US citizenship, even though they don’t call the US home. As US expats prepare for another expensive and stressful tax filing season, we’ve compiled a list of items that illustrate a few of the standard costs of their US citizenship while living abroad – in addition to the headaches, stress and sleepless nights that come ..read more

The latest data from USCIS is in, and suggests that the EB-5 Immigrant Investor Program is alive and growing healthier by the quarter. U.S. Citizenship and Immigration Services (USCIS) recently released filing and processing statistics for the 4th quarter of the 2023 fiscal year, which included encouraging signs for the EB-5 Program. New filing numbers for I-526E Regional Center Investor petitions represent the highest quarterly filing total the program has had since Modernization Rules took effect in 2020, and are reflective of the strong filing activity in recent years. In Q4 of FY 2023 (Ju ..read more

In a recent survey, one in five US expats (20%) is considering or planning to renounce their US citizenship. What’s the main reason? The headaches associated with filing US taxes, the complexities of US tax laws, and owing US tax. So far, in 2023, we have seen a big jump in the number of people going through the official process of renouncing. As of May 15, 2023, a total of 5,315 US citizens have renounced their citizenship, a sharp increase from the 2,390 who renounced in 2022. If you find yourself among the 20%, now is the time to put the wheels in motion to ensure that 2024 becomes your la ..read more

Air travel can be stressful. Rising airfares and hotel costs, flight cancellations, pilot strikes, long security wait lines, and lost luggage are just some of the headaches that travellers face as more and more people head to the US. According to the US Travel Association, flight demand was up by 12% in July alone. US expats may want to be extra cautious, especially if they fall into one of two categories:   1.) The US expat who is not US tax compliant and/or owes money to the IRS.   For the first time in history, the IRS is exchanging information and communicating with the United S ..read more

On September 27, 2023, Secretary of Homeland Security Alejandro N. Mayorkas and Secretary of State Antony J. Blinken announced in a joint statement that the US would be admitting Israel into the Visa Waiver Program (VWP). This expansion will be welcome news to Israelis wishing to visit the US as it aims to strengthen further the security, economic, and people-to-people ties between the two countries. Starting November 30, 2023, citizens and nationals of Israel will be able to apply online for authorization to travel to the United States through the Electronic System for Travel Authorization ..read more

The alternative minimum tax (“AMT”) was first introduced in 1986 to ensure that individuals and trusts pay some amount of minimum tax where they otherwise would not (or would pay what was perceived to be an insufficient amount) due to tax preferred forms of income such as gains from qualified small business corporation shares, qualified farm or fishing property, eligible dividends, etc., or by the use of certain preferred deductions or tax credits. While there have been minor tinkering with the AMT since its introduction, the architecture of the AMT has remained the same since its introductio ..read more

On Thursday, July 13, 2023, the Supreme Court of Canada handed down a landmark decision to dismiss an application for leave to appeal a challenge to the constitutionality of Part XVIII of the Canadian Income Tax Act. The decision obliterated any hope of striking down FATCA (Foreign Account Tax Compliance Act) legislation that allows Canadian banks to share the banking information of any US citizens living in Canada. And to put an exclamation mark on that ruling, the case is now ineligible for further appeal. Gwendolyn Louise Deegan and Virginia Hillis, two women from Ottawa who hold dual citi ..read more

A new trailer has debuted for the fourth season of the hit HBO series “Succession.” The show follows the exploits of the Roy family as they battle for control of their father’s media empire. While millions are glued to their screens for the latest round of legal maneuvering and back-stabbing, a real-life succession drama could hit closer to home for US citizens living abroad. Like the family patriarch in “Succession,” many people who put in the hard work and long hours to build a life and accrue wealth do not want the IRS taking a large percentage from their estate when they die. US citizens ..read more

In our renunciation blogs and webinars, we outline why American expats decide to renounce their US citizenship. The top reasons include the following: The cost of paying US taxes annually. The cost of double taxation (paying US tax AND tax in your home country). The US Estate Tax (the death tax) and succession planning. The constant stress combined with expensive accounting and legal fees to stay US tax compliant. There is a myriad of reasons why US expats renounce their US citizenship that is mostly financial in nature. But there is one important factor that most people don’t consider – the U ..read more