# Canadian Expats



## mickymac (May 30, 2012)

I am looking to contact some retired Canadian expats to discuss the ups and downs of moving to Thailand. The decision to retire in Thailand has been made now it is just going through all the necessary steps to complete my move. Any possible advice from Canadians would be appreciated.


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## Cer (Aug 20, 2009)

mickymac said:


> I am looking to contact some retired Canadian expats to discuss the ups and downs of moving to Thailand. The decision to retire in Thailand has been made now it is just going through all the necessary steps to complete my move. Any possible advice from Canadians would be appreciated.


Why restrict to Canadian advices only?
Do you think that immigration ruling in Thailand is different for Canadians?


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## mickymac (May 30, 2012)

Cer said:


> Why restrict to Canadian advices only?
> Do you think that immigration ruling in Thailand is different for Canadians?


No I just want to make sure things like taxes banking resident status in Canada and all that that entails is taken care of properly.


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## Song_Si (Jun 11, 2010)

^ I can understand that, there are vastly different rules between countries for citizens abroad, apart from eligibility for pensions, some also have a 'stand-down' period for free healthcare when you go back home after a specific time out of the country. 
For me, and I don't know if similar laws apply for other countries - as I'm way off retiring age, one I have to keep in mind (for NZers) is that if I do not live/work in either NZ or Australia for a total of five years between ages 50-65 I have lost eligibility for govt superannuation after age 65. 
I have not met many expats in my years here, and never a Canadian. But there must be some, somewhere!


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## Cer (Aug 20, 2009)

I see your point!


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## Cer (Aug 20, 2009)

mickymac said:


> No I just want to make sure things like taxes banking resident status in Canada and all that that entails is taken care of properly.


I see your point


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## mikecwm (Jun 18, 2008)

mickymac said:


> I am looking to contact some retired Canadian expats to discuss the ups and downs of moving to Thailand. The decision to retire in Thailand has been made now it is just going through all the necessary steps to complete my move. Any possible advice from Canadians would be appreciated.


Sounds like you are at the same stage as me - moving to Thailand soon.
So I'm very interested in what any Canadians who have successfully navigated their way through the banking maze have to say.
Here's what I've learned so far:-
OAS is only payable outside Canada if you have lived there for 20 years or more.
No problem with CPP - as we pay for that independantly.
Both are indexed to inflation no matter where you live - yipee. (Even if you chose to live, for some strange reason, in the UK). 
As the future recipient of a Brit State pension as well, that is not indexed in Canada or Thailand, that does stick in the throat a little bit. 

I believe it is illegal to import either igloos or poutine from Canada to Thailand.


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## mickymac (May 30, 2012)

mikecwm said:


> Sounds like you are at the same stage as me - moving to Thailand soon.
> So I'm very interested in what any Canadians who have successfully navigated their way through the banking maze have to say.
> Here's what I've learned so far:-
> OAS is only payable outside Canada if you have lived there for 20 years or more.
> ...


Oh no poutine or igloos. May have to reconsider. Thanks for the information. We will both have Canadian superanuation pensions as well as CPP and OAS. Both will be indexed so that is not an issue with us. Big concerns are related to banking between the two countries as I will be keeping bank accounts in Canada and only want to use Thai accounts for local expenditures if possible.

Mikey


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## Cer (Aug 20, 2009)

I am retired since 2004.
I do have my non resident accounts in The Netherlands,where my pensionfunds deposit the monthly amounts.
I have several Thai bankaccounts (reminder:since this month the maximium state quarantee on bank deposits is 1.000.000,- baht per account) and I have an international standing order at my Dutch bank for monthly transfer.
I use my Dutch bankaccount for u.o. payments of my healthcare insurance,credit cards,bookings of hotels and so on.
(also be aware that you will not be able to get a credit card in Thailand,if you are retired and above 60 years.No matter how much your account balance is.Maximum is a debetcard!!)
I use my Thai savingsaccount to have the required 800.000 baht minimum balance,according to the immigration rules for retirement visa extension(This can also be a prove of monthly income ot 65.000 baht or a combination of both).
I use my Thai account for the normal daily expenses.

The maximum amount that I can transfer from Holland,without tax declaration,is max.euro 10.000,-.
On my Thai saving account this amount is marked as foreign transfer.The bank is also willing to provide a letter with the annual amount received from abroad.
You should realize that the immigration would like to know where the money is from that you are living on.(working is prohibited)


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## nutss (Jan 9, 2011)

mickymac said:


> I am looking to contact some retired Canadian expats to discuss the ups and downs of moving to Thailand. The decision to retire in Thailand has been made now it is just going through all the necessary steps to complete my move. Any possible advice from Canadians would be appreciated.


I'm also from Canada a planning to retire in Thailand within 6-12 months. I have also been grappling with the banking and, more importantly, the taxation issues. I will also receive an extremely generous SA pension and have come to the conclusion that the most tax beneficial way is to become a non-resident of Canada. This means severing all residential ties to Canada i.e. Canadian driver's licence, house unless rented non-arm's length on long term lease, furniture (no storage; but who's to know if you leave it with the kids), provincial medical coverage etc. However, they will allow minor attachments such as a bank account. Our Revenue Agency is very fickle and prone to irrational and incorrect assessment so it's safer to minimise your residency ties. In other words, you have to show that you have no intention of coming back....the key word is "intent". You will NEVER lose your citizenship unless you renounce it.

If the country has a tax treaty with Canada, then they will withhold the agreed upon percentage of tax. As an example, Ireland is a paltry 10%. The CRA website has a list of all the countries and its tax rates. Unfortunately, this board will not allow me to post a link but just go to the cra.gc.ca and do a search.

Hope this helps a bit.


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