I am IT professional and planning to move back to India after citizenship of Canada. I also want to maintain residenship status (legal way) of Canada to become eligible for health and CCTB beniftis.
Reasons for moving back to India:
1) Do not wish to do Job for whole life and pay mortgage for house in Canada.
2) Want to do bussiness and can not efford in Canada
3) Do not like winter
4) Missing family and festivals
I have registerd software company in Canada but I am not working sincerely for my own company. I am thinking to work in India for my own canadian company. I'll generate revenue on name of my canadian company. I'll also pay tax in canada at the end of year.
Is this okay to maintain my residentship status in Canada? OR what should I suppose to do to maintain residentship status of Canada while living in India?
All kind of inputs are welcome.
Thanks in advance.
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Success is Never Ending and Failure is Never Final.
I do not see any problem with your plan. Ofcourse lots of issues will be there depending upon your marital status, family, and your setup in India .
How easy or difficult to generate income in India for a Canadian Company so that you can live in India and pay taxes in canada ?
this is a good topic , since many people move back to india after citizenship.
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I guess he is asking about legal process to maintain both citizenship. ( he is not worried about family and money) , more legal stuff.
as well as what are the right he can have in india ( with dual citizenship).
one should be very carefull if own a some property in india being canadian citizenship.
be carefull take good advise from legal adviser.
if any body has more details on this issue please
To be eligible for Health care in Ontario, you have to have your permanent residence in Ontario and you have to be physically present in Ontario for 153 days every year of coverage.
Thanks you for your replies.
I am not worrying about settlement in India. I've plan to get OCI. It gives me most of the rights of indian citizenship. I can definitly work for any private company or can do the business and invest in property too.
I'll definitely generate income on my canadian business in India. It will be very less in compare of my current income in Canada. But I'll pay tax on whatever revenue I'll generate.
Do you think I can have CCTB benefits if I'll inform to tax department that I am not living in Canada and working in India for my own canadian company? [I am just concern about legal way to get benefits while living in India]
Thanks,
-Yogesh
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Success is Never Ending and Failure is Never Final.
You have a great idea to get the best of both the worlds.
I agree with you on a) bad winters b) being away from family and festivals.
If you plan it correctly, you can pull it off. The plus point is, you are a IT professional and even if your business does not succed in india, you can always get a job in india.
If you get an OCI, you are free to stay and work in india for any length of time. Besides, canada passport allows you to enter and exit canada without any problem.
You can maintain your health coverage by having an arrangment with a friend whose address details can be given. your passport is renewable once every 5 years.
For details on taxes and financial arrangments, get correct advice from a professional accountant.
A very large number of expatriates are living in their home countries with a canadian passport.
Good luck and keep us informed.
seenappa
seenappa,
thanks for your reply.
Does anyone knows someone who lives in India after canadian citizenship?
I'll be really grateful to you if anyone can help me out to make my plan for moving back to India.
Thank you in Advance.
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Success is Never Ending and Failure is Never Final.
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