REVIEW Canada free no more

[BobDole]

Hi Everyone,

Finding this forum seems to be a blessing in disguise. Canada for years has been a great place to start a family and grow old in peace, after the last few years all of that has changed.

As I'm getting older and wiser the money being made seems to be disappearing into taxes which are sent oversees with no investments into the country itself.

For that reason my goal is to open up an offshore company and start moving out of this place, and retire in a warm climate.

Looking to get knowledge from forum experts and previous experiences to help me find the right country to open this IBC/LLC

Bob Dole

 

[Martin Everson]

I don't think Canada will let you escape that easily to cut it short....lol. I seem to remember a few threads with others from Canada wanting out. Maybe worth having a search of the forum beforehand and sharing your thoughts with other Canadians in same boat. You may find solutions that they have taken to plan for future.

On the issue of IBC/LLC/LL Cool J etc. The world has become more complicated since Economic Substance requirements have been introduced globally by OECD. A shell company wont cut it and CFC rules etc make it even more difficult to operate an benefit from an offshore company for a little man unless structured correctly.

 

[JohnnyDoe]

The world has become more complicated

In reality it is just as proportionally complicated as it was 30 years ago, when for setting up a Panamanian company you would first somehow come to know that this option existed, then go to the office of some obscure lawyer in Manhattan or Geneva and pay 5 figures for the setup. No OCT forum in the ‘90s!

 

[VESTANON]

I don't think Canada will let you escape that easily to cut it short....lol. I seem to remember a few threads with others from Canada wanting out. Maybe worth having a search of the forum beforehand and sharing your thoughts with other Canadians in same boat. You may find solutions that they have taken to plan for future.

On the issue of IBC/LLC/LL Cool J etc. The world has become more complicated since Economic Substance requirements have been introduced globally by OECD. A shell company wont cut it and CFC rules etc make it even more difficult to operate an benefit from an offshore company for a little man unless structured correctly.

@Martin Everson the LL Cool J got me reeling and giggling....sheesh....

Canada surely takes no prisoners, escaping Canada securely and successfully, would be like tryna escape Alcatraz...

 

[GrumpyMess]

For that reason my goal is to open up an offshore company and start moving out of this place, and retire in a warm climate.

Looking to get knowledge from forum experts and previous experiences to help me find the right country to open this IBC/LLC

You can look into Barbados, since it has DTT with Canada

 

[BobDole]

I don't think Canada will let you escape that easily to cut it short....lol. I seem to remember a few threads with others from Canada wanting out. Maybe worth having a search of the forum beforehand and sharing your thoughts with other Canadians in same boat. You may find solutions that they have taken to plan for future.

On the issue of IBC/LLC/LL Cool J etc. The world has become more complicated since Economic Substance requirements have been introduced globally by OECD. A shell company wont cut it and CFC rules etc make it even more difficult to operate an benefit from an offshore company for a little man unless structured correctly.

haha an LL Cool J.

For the time being escaping Canada will be tough this is just the first step to slowly separate ourselves from it. The company would be where the little revenue would pour in and to store the IP, as i'm well aware there will be some taxation involved since the current residency is in Canada as well.
Panama has proved to be against the little guy from what i've encountered, and finding a company to get us going in another country seems to be easy, but ensuring they are legitimate/reliable is proving to be slightly difficult.

I've spent the last 2 days reading through dozens of forum posts on previous experiences. Someone had sent a list of licenses agencies in Belize and BVI, however Banks in Belize have gone through closures which is unsettling.

It's come down to Bahamas & Nevis that are offering decent protection, security, being much more appealing to the little guy as well.

Hoping that my journey here on these forums leads to opening what we are looking for!

Thanks for the info guys, will continue my search!