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Discussion Starter #1 (Edited)
Hi All!

I have applied for Canadian immigration few months back and expecting to get an answer shortly, hopefully a positive one :)

When I arrive in Canada, I plan to bring with me C$ 500,000. so I have few questions here, hoping that you guys can help answering them...

1- What's the best way to invest that money to generate monthly income? (open to business ideas and suggestions)/ I am currently considering a franchise to manage.
2- What would be my expected monthly expenditure for a family of four (2 kids in Grade 4)? That would be in a comfortable life style, taking into consideration that we are moving to Winnipeg from Dubai (very luxurious life style).
3- I have properties in Dubai worth over C$ 1M (after settling the mortgage), do you guys recommend that I liquidate and I invest in Winnipeg? Noting that these properties would generate around C$ 50,000/yearly (tax free) in Dubai if i keep them.
Thank you and look forward to your comments.
Best,
bchatila
 

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Probably farmland in north America inheritance tax so high farms are not being passed on as offspring cannot afford to pay taxes so land is sold.
 

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1) that is rather vague. There are a lot of opportunities to do nearly anything, so it depends on you and what you'd like to do.
2) again very vague and what you consider luxurious. Not to be too critical, but did you do any research into the different different provinces and cities within Canada? Winnipeg isn't really known for being one of the more luxurious places in Canada, not that it's a bad place.
3) A $50,000 return on a $1M investment isn't what I'd consider a good investment, especially if it needs to be managed overseas. So personally I'd sell and reinvest here. That being said, I'm familiar with Canadian investments and you're not yet, so it probably wouldn't hurt to hold onto them for a while until you get a better understanding of opportunities in Canada.
 

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In 2009 was talking to a friend of mine near Brandon & the going rate for renting out farm land was 10%
 

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Discussion Starter #5
1) that is rather vague. There are a lot of opportunities to do nearly anything, so it depends on you and what you'd like to do.
2) again very vague and what you consider luxurious. Not to be too critical, but did you do any research into the different different provinces and cities within Canada? Winnipeg isn't really known for being one of the more luxurious places in Canada, not that it's a bad place.
3) A $50,000 return on a $1M investment isn't what I'd consider a good investment, especially if it needs to be managed overseas. So personally I'd sell and reinvest here. That being said, I'm familiar with Canadian investments and you're not yet, so it probably wouldn't hurt to hold onto them for a while until you get a better understanding of opportunities in Canada.
Thank you for your comment.
Just to clarify, it is part of my immigration process to live and invest in Manitoba. I am considering a franchise of "The UPS Store" &/or "Tim Hortons"
And I did visit Winnipeg in April, nice city, found some nice houses for rent around $3K monthly. Luxurious in Dubai could be briefly explained by my monthly expenditure of about $17,000 (out of which 7000 goes to rent), however with that comes high income that will never be generated in Canada.
$50,000 return on $1M is tax free.
 

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I agree with Just a Guy, much too vague to answer. Your post only raises more questions.
Is the $500k being invested to support you and your family's monthly expenses? Its not enough for that. With your Dubai property income you might have enough. Are you looking for a passive investment or an business that you and family can work at?

We don't know your experience, background, goals, or intentions so our replies are not likely to be very helpful.

I suggest you not commit any money until you actually move and rent a place to live in and then see what business/investments make sense to you once you are in Winnipeg.

As to cost of living, that can be dialed from quite low to very high, depending on your resources, lifestyle, vacation plans, etc. It could range from $3k to $8k per month.

You don't say whether your Dubai properties are commercial or residential, whether you manage them and can have someone manage them in your absence, whether you intend to go back there with any regularity, etc.
 

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Discussion Starter #8
I agree with Just a Guy, much too vague to answer. Your post only raises more questions.
Is the $500k being invested to support you and your family's monthly expenses? Its not enough for that. With your Dubai property income you might have enough. Are you looking for a passive investment or an business that you and family can work at?
We don't know your experience, background, goals, or intentions so our replies are not likely to be very helpful.
I suggest you not commit any money until you actually move and rent a place to live in and then see what business/investments make sense to you once you are in Winnipeg.
As to cost of living, that can be dialed from quite low to very high, depending on your resources, lifestyle, vacation plans, etc. It could range from $3k to $8k per month.
Thanks!
Thank you for your comment.
Just to clarify, it is part of my immigration process to live and invest in Manitoba. I am considering a franchise to operate...
And I did visit Winnipeg in April, nice city, found some nice houses for rent around $3K monthly. Luxurious in Dubai could be briefly explained by my monthly expenditure of about $17,000 (out of which 7000 goes to rent), however with that comes high income that will never be generated in Canada.
$50,000 return on $1M is tax free.
 

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Why on earth would leave a high income luxury lifestyle and move to winnipeg? Its going to be a big step down. Unless you are in danger in your home country, this makes no sense. Visit Winnipeg in January first.
 

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... I have properties in Dubai worth over C$ 1M (after settling the mortgage) ... Noting that these properties would generate around C$ 50,000/yearly in Dubai if i keep them ...
$50,000 return on $1M is tax free ...
No idea what taxes like in Dubai ... so if you say the $50K is tax free while you are a tax resident there then that's they way it is.

Canadian taxes maybe different. Once you move to Winnipeg, you may become a Canadian tax resident.
https://www.canada.ca/en/revenue-agency/services/tax/international-non-residents/information-been-moved/determining-your-residency-status.html

Canada taxes world wide income so the $50K income likely will be taxed by Canada. I suspect the properties, if owned when becoming a Canadian tax resident would also be subject to capital gains taxes, when sold while a Canadian tax resident. See the "Property you owned before you arrive in Canada" section at https://www.canada.ca/en/revenue-agency/services/tax/international-non-residents/individuals-leaving-entering-canada-non-residents/newcomers-canada-immigrants.html#PBC.


There seems to be a tax treaty between Canada and the United Arab Emirates so there may be changes or steps that could mitigate the Canadian taxes.
It seems there may be some planning needed and possibly expert advice that may be helpful.


Cheers
 

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Discussion Starter #11 (Edited)
Why on earth would leave a high income luxury lifestyle and move to winnipeg? Its going to be a big step down. Unless you are in danger in your home country, this makes no sense. Visit Winnipeg in January first.
Luxury lifestyle is not necessarily a great one, living in Canada has plenty more advantages, especially for a family.
And just to clarify, I'm Lebanese living in Dubai as an Expatriate. Dubai does not grant citizenships to expatriates.
There are certain limitations to how long I can stay in Dubai, and moving to Lebanon is not safe...
I hope now this makes more sense ;)
 

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Winnipeg is a great city. Underappreciated in the rest of Canada. People are very friendly, just buy everyone a warm winter jacket!

Manitoba has a reasonably solid, diverse economy, without getting into specifics I would not be uncomfortable investing there. As for real estate, I'd certainly be more comfortable buying in Winnipeg than my current town (Vancouver).
 

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Its going to be tough to start a new business over again in another country. If you have RE in Dubai thats making nice coin, why not just keep it and bring the profits here to live on. At least until you get settled and learn about your new environment then maybe look to repurchase.
 

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Why on earth would leave a high income luxury lifestyle and move to winnipeg? Its going to be a big step down. Unless you are in danger in your home country, this makes no sense. Visit Winnipeg in January first.
Canadian passport...it will give them ability to travel without visas to most of the countries. Once they complete the immigration terms and get Canadian passport, most likely they will leave Canada.....come back only for vacation and free medical.
 

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Discussion Starter #16
man, I'm not here to argue with anyone or create unnecessary debates, but do you truly believe that someone with my profile is aiming for a free medical!
That said, your comment about the passport giving me visa-free access is true.
Anyhow, all the best...
 

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I am an immigrant myself. I just explained the truth. I have no issue with anyone as long as they follow the rules.

I am not telling that you are aiming for free medical. Once you have the opportunity for free and quality medical coverage, why wouldn't you use it? That was the point.
 

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Luxurious in Dubai could be briefly explained by my monthly expenditure of about $17,000 (out of which 7000 goes to rent), however with that comes high income that will never be generated in Canada.

wondering where is the rest of the invested capital that is generating the above income of $17,000 per month?

please keep in mind that a canadian resident pays income tax on 100% of his global income, wheresoever the source may be situated.




$50,000 return on $1M is tax free.

no, it is not tax-free to a canadian resident. As mentioned above, 100% of global income will be included in taxable income for canadian tax purposes.

since the OP also made the same mistake in his opening post - imagining that offshore income will be recognized as "tax free" in canada - one has to wonder who is advising this candidate with his immigration campaign.

canadian immigration officials staffing all canadian embassies & consulates abroad are careful to make sure that immigration applicants fully understand the nature of their possible future tax regime in canada. Immigration & consular officials carry out this work routinely, before any visa is granted.

the fact that this poster has made it thus far without being correctly informed suggests he may be using an underground offshore immigration "consultant" who has wrongly informed him. Red flag alert.


.
 

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Hi, I live in Winnipeg, and it is cold here in the winters. But it's also really nice here in the summer :)

1) If you go for a franchise it seems the coffee industry is good. Tim Hortons and McDonalds being the bigger names.
I would be careful of trying to set up your own thing unless you had knowledge and experience example, if you open a bike shop you will fail, there's just not enough costumers and the current shops already have the market.

2) It won't cost you much to live here in Winnipeg.
We also don't have lots of things to do. Sport stuff, Nature stuff, and Spa stuff.
Maybe some rough numbers Monthly prices that we can discuss more.
TV/Internet package for $100
Cell Phones $55 each
Car insurance $150 each
Gas $100 each
Food $600 a month
Alcohol $100
Entertainment $200
Housing - your choice. If you like the winter you can buy your own place or just keep renting. The south side of Winnipeg seems to be the nicest.

River Heights - older neighbourhood, houses closer together (dont like that much)
Lindenwoods - cookie cutter houses, nice community but yards are smaller
Fort Garry - Nice area
St Vital is okay
Waverly West near the University of Manitoba is nice newer homes, but cookie cutter again
I really like Charleswood if you like being spread out from your neighbours, some yards are 100ft front and 300ft deep, lots of deer in the area. The area near Fort Whyte is just being developed and has some beautiful houses
St James is a bit cheaper. Maybe not your style.

The best streets are wellington cres, followed closely by south dr. assiniboine dr (note these are all touching the 2 rivers that go through the city)

Avoid the north end

3) Would it be easier for you to sell them, or do you have people that can help you manage them from abroad.
What would your return be in the stock market?
 
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