Exit Tax: How it Works With Foreign Companies?
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One of our viewers asked the question about the exit tax (or departure tax) and how does it work if one has a foreign company.
Let's say that you're a citizen or a resident of Canada and you own a foreign company, you decide to leave Canada. So, how does it work in terms of the exit tax, especially on your foreign company?
Once you decide to leave a country you'll likely need to pay an exit tax. First of all, there will be the deemed disposition of all of your assets. What does this mean? It means if all the assets were sold and whatever gains you were to realize you'd need to pay taxes on.
This sadly also means that you'll need to pay taxes on the shares that you own in a foreign company.
Who are we and what do we do?
We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
We have lots of interesting articles on different topics, we have relevant information up to date.
Author: Michael Rosmer
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Видео Exit Tax: How it Works With Foreign Companies? канала Offshore Citizen
You can visit our websites for more information about us: https://offshorecitizen.net & https://www.offshorecapitalist.com
One of our viewers asked the question about the exit tax (or departure tax) and how does it work if one has a foreign company.
Let's say that you're a citizen or a resident of Canada and you own a foreign company, you decide to leave Canada. So, how does it work in terms of the exit tax, especially on your foreign company?
Once you decide to leave a country you'll likely need to pay an exit tax. First of all, there will be the deemed disposition of all of your assets. What does this mean? It means if all the assets were sold and whatever gains you were to realize you'd need to pay taxes on.
This sadly also means that you'll need to pay taxes on the shares that you own in a foreign company.
Who are we and what do we do?
We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
We have lots of interesting articles on different topics, we have relevant information up to date.
Author: Michael Rosmer
Feel free to join our community!
Don’t forget to subscribe to our channel
https://www.youtube.com/channel/UCZDToCpuHc4kEHDurkQpVPg?sub_confirmation=1
Видео Exit Tax: How it Works With Foreign Companies? канала Offshore Citizen
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